Posted on 03/16/2005 10:25:18 AM PST by BurbankKarl
Brought to you by the UAW.
Might as well give the bonds the same ratings as the cars. ;)
Management equally guilty. Pontiac recently discontinued their number one selling car, the Grand Am. Chevy discontinued the S-10. Replaced it with the Colorado-a five cylinder. Many balk at this "new" concept. Bubba just ain't sure about a 5 cylinder...
GM's pension expenses, healthcare costs, bloated bureaucracy, and union woes have all grown too large. It's too much overhead to tack onto the price of cars in a competitive global environment.
That, plus if you try to get a price quote from a dealer for a Corvette on the Chevy.com website you get an error.
...and the Camaro is gone. That model was only selling what, some 100,000 copies a year for how many decades?!
Its not your father's Oldsmobile.
...lousy, overpriced cars and the UAW.
WOW G M losses ? Maybe they can re-coop by "charging" the
marine reservist for parking on the G M lot during weekend
drills. (No BUSH bumper stickers allowed though)..........
You forgot unimaginative styling, and substandard engineering.
Now even the Oldsmobile is gone. Guess I know now how my dad felt when he lamented the demise of the Studebaker, Packard, etc.
I plan on sticking with US made pickups, but I did sneak a peek at Toyota...I feel so guilty!
FYI..Ford just killed the new T-Bird..
I assume Ford is keeping the Ranger? Haven't heard to the contrary.
"FYI..Ford just killed the new T-Bird.."
Don't worry, no one will notice!
GM has to pay $2Billion to Fiat and a similar amount to Mitshubitshi, where their program to expand market share globally failed (as their market share of USA cars slipped to under 40% at the expense of primarily Japanese cars). One terrific 10-year snafu, put into place (don't forget) by JACQUES NASSER.
"Brought to you by the UAW."
The UAW didn't design the beautiful and popular Aztec, didn't terminate the Camaro and Firebird with no replacement.
This is an obviously poorly managed company.
Here is GM management at its best: Years ago Chrysler designed a Concept vehicle that then got built and sold--the PT Cruiser.
GM has now hired the designer of the PT Cruiser, who has almost cloned it for GM. GM will introduce this vehicle.
Nothing original. No risks. No imagination. Declining sales and profits.
The market at work due to higher oil prices. I hope this US manufacturer has learned its lessons from the 1970 oil crisis...
More like brought by higher gasoline prices and lower dollars (in turn partly brought by the UAW.)
It was a stupid, overweight car and deserved to die.
This is no surprize. When 70% of your economy is consumer spending, and those consumers are losing jobs to outsourcing and immigration, and the lucky consumers who still have jobs are suffering pay cuts combined with tax increases, discretionary spending will decline.
Productivity is higher, and investment returns reflect that, but the investors reaping the benefits are a minority of the population of consumers. The individuals among the investor class aren't going to buy up the surplus vehicles just because they have the extra cash or the cash flow. Foreign markets in China and India haven't opened up as promised to buy up the surplus.
With declining sales, profits will decline. With declining profits, investment in the stocks will decline. With declining demand for the stocks, the stock prices will decline.
That is what happened in the late twenties, and it is happening again.
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