Posted on 04/01/2014 9:39:04 AM PDT by jazusamo
Yes, they have known about it for years.
At first GM wasn’t paying the tab but they’ve said they’ll reimburse people for those charges now.
Remember the big- over billed story about Toyota acceleration problems? You know, the out of control vehicles that defied the laws of physics. In comparison to these real issues with GM the coverage in the Media is non-existent. The reason is GM is Unionized while Toyota is not.
That’s what happens when you have government, By the Lawyers, Of the Lawyers, For the Lawyers.
Correct...Bondholders were taken to the cleaners as well as many owners of closed dealerships.
agreed... this will destroy the company, and those unions, they’ll go bye-bye as well.
those few people still working in Detroit will also loose jobs..
history... I haven’t bought a Detroit car in years... too bad... when I think of my father’s 59 Chevy.. it just makes me sad... that was a great company back then.
“GM...more obviously “Government Motors” than ever before. Criminal boobs.”
Over the years I’ve been involved as the subject expert and chief investigator for a few (Army) product recall issues. The decision makers are also the ones who get bonuses. They’d put the entire company at risk to maximize their bonus. And, when things go badly THEY get a golden parachute.
Just another example of BIG government screwing something up.
well she’s got a man-sized problem to deal with sitting i n the big chair. she knew about this in her former high-level gm position, so don’t feel bad for her. she knew.
“My Mazda 3 with just short of 120,000 miles has had zero repairs and even the brakes and exhaust system are still factory original.”
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Now that sounds truly amazing. No repairs of any kind? Not even a little nitpicking nothing?
Absolutely, there’s no way she could have not known.
I had one of those Ions too. My key locked up a couple of times, but I was able to get it out. It’s the last GM car I’ll ever own.
It’s too bad the Saturn brand went downhill. When they first came out, they were good cars. By the time it got to that one, they were as lousy as anything I’ve owned. Completely untrustworthy and I was glad to see the back of it.
I have a cousin who is fairly well off but not one to waste a dime. He bought a used Accord for two thousand dollars and drove it on long trips for years. He would routinely run it from Kannapolis, NC to Myrtle Beach which is about 225 miles one way. I think he finally got tired of it and bought something else.
All you have to do almost any time you want to find out what management is going to do is to find out how they are incentivized. It is a built in conflict of interest that almost nobody can resist. Honor is flushed down the drain. Money and power rule. There is no shame.
Compensation committees almost always thing the executives are underpaid and every 10K says how critical the current exec is to the success of the company. They might try running the company a day or so without employees and see how that works for them. There are those who would call is socialist, so be it, but no exec deserves or earns astronomical multiples of what the shop floor earns. Both are vital.
But yes, follow the money.
Agreed. Junk.
I’m buying Jap or German next time. Maybe Ford but probably not.
Getting rid of interlocking directorates would be a good start.
Ahh... no thanks. I bought one back in the '80s, when I didn't have much money. Thing was a total pain. I got hooked on foreign cars in the '90s, and I'm never going back.
No prob, guy! You're going to pay for a new one anyway, through your taxes! Ha ha! Have a great union day, pardner!
Any calls to bail them out yet?
To paraphrase Casey Stengel’s famous quote while managing the 1962 Mets, “Can’t anyone here build a car!”
U just don’t know what the meaning of the word is is ...:
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