an Executive Order giving the Chevy Volt a monopoly on the US passenger auto market should do the trick...
How can this possibly be? President Ocarter just said the other day, “the US auto industry is back on top”!
Chevy has a horrible overpriced line up of cars, and took most of the dealer “mark-up” (invoice to window sticker) away from the dealers.
a $40,000 CAMARO has a 900 markup.
A 30,000 Equinox has an 800 markup.
A friend of mine owns (inherited) a Chevy store, and he showed me the numbers.
Excellent article explaining the dynamics of car sales.
President Mitt loves a well-run bankruptcy. “Well-run” being the definitive term here. Get the gov and union off the company’s back.
Cha-ching!
they want mo money.
Just imagine if GM had been allowed to go bankrupt and instead of being bailed out by the government had been bought out by Toyota or better still Hyundai. Under Hyundai leadership VW would not be number one in the D car class.
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Ultimately, it is management’s responsibility. The problem with what’s going on now with GM is that they won’t learn from their defeats. They’ll just ask for more taxpayer money. It’s much easier to get taxpayer money than it is to compete with Volkswagen and Toyota. The sad part is that GM could once again become the biggest car company with tremendous products. They have to fight with Volkswagen and Toyota and the environmentalists and the unions and the media and the Democrats. Too much fighting.
I noted in the article that the German CEO was interested in the actual engineering of a quality product.
The American CEO was interested in reorganizing and “integrity.” (As if GM could even think about any claims to integrity after building the poorly engineered trash that they are so justly famous for.
Which is why I will nevah! purchase a gubmit motors car.
And the UAW can shove it up their smelly collective Obamas.
I own an investment company.
The GM name is very toxic, harbors very bad feelings among the public.
The more Obama talked about saving GM, the more it hurt him. Trust me on that...
I notice he backed off that message quite a bit, because it probably polled very poorly with focus groups.
Obama is giving speculators an almost sure thing on shorting GM stock - AGAIN.
Also, If Romney wins clearly tonight, GM will be down 10% tomorrow AM at open.
Bankruptcy is exactly what GM needs!!!
Do it right this time, no bailout and wipe out the unions and their benifits/pensions!!!!
Bankruptcy or reorganize you only have one option.
And for those of you who aren’t threatened by reality...
In the 3rd quarter of 2012, GM overall earned $1.8 billion. Operating cash flow for the first 9 months of 2012 was $9.8 billion, with capex of around $6 billion, giving free cash flow of about $3.8 billion. GM has $33 billion of cash and near cash on the balance sheet, with automotive debt of $5 billion, and pension debt of $25 billion, which is falling.
The Malibu might suck, but the new full-sized pickup comes out next spring, and that’s a cash cow for GM.
I don’t like Government Motors. I’ll never buy another GM product as long as I live, but to say that GM is going bankrupt within 4 years is laughable.
Unless Obambi wins, and we get the Obimbo Depression. Then GM does go bankrupt, but so does Ford, and many others.
What happened to “we killed bin ladin and saved the auto industry”
I read the entire article, which reinforces the long trend of crappier management at GM, followed by still crappier management.
The jist in the article is that GM’s crappy management settled for mediocrity, in the design of the 2013 Malibu, which finished last in comparison to the rivals.
Ford on the othe hand is designing cars which compete favorably, with the best in the world.
Huyndai us building amazing vehicles, some right here in America.
European, Japanese and Korean makers build cars for who they plan to have as customers for the next 40 years. GM builds cars for people that will be dead in ten years.
The head of VW is checking out the Huyndai competition, not GM. Very telling.
Guaranteed repeat bailouts reinforce crappy management, who survive, mediocrity or not. In the USSR they would shoot the head of GM, but here we give him raises and stock options, probably a future in the K Street lobby industry.