Posted on 04/20/2005 8:21:13 PM PDT by WildPlum
Of course, we the taxpayer will have to compensate for the promised pensions.
Also, Chrysler and Ford would soon follow to remain in the game.
Might have helped if they redesigned rather than axed the F-body to compete with the Mustang
they will receive loan guarantees from the US government to stay in business.
way to much GM bashing on FR. This company saved the US economy from going into a deep recession after 9-11 by moving forward with 0% financing. Their newer model cars are fine.
and it says alot about our economy that our auto businesses are dying, while profits are flying high at brokerage firms. the "paper economy" of real estate swaps and bond trades is our strength now, while US companies that actually try to do engineering and manufacturing are dying.
:-)
GM is now involved in Nation Building?
I doubt they will get loan guarantees. The general opinion in Congress seems to be "too bad", as it is on the streets.
Their newer product, with the exception of the RWD product (few and far between) is absolute *crap*. Nobody is buying it. Though they are buying the RWD stuff, they have officially killed off the low-cost RWD platform that was going to revolutionize their lineup. Ooops.
US companies that do engineering and manufacturing without the battleship chain and anchor of a UAW or CFL or other enormous fat bloated union around their necks are doing just fine. Of course, I refer only to those with clueful management, which GM doesn't have either.
Short sellers highly organized and determined. Bad news, bad news, this is scary, watch out below, etc., etc.
I agree. Way too much paper trading and speculating. Way too little actual production. The gas prices are in part due to speculation....paper trading.
the Kappa RWD cars will be produced.
America has been poisoned by too much credit!
They don't need or want loan guarantees. They just want to break the union contracts and wipe retiree committments off their books.
After that, they will be fine while the taxpayer picks up most of the pension obligations.
Yet again, other group of voters that will be dependent on gov't funds.
Now that's serious union busting. China is licking it's choppers.
We see here the concept of deep and serious poop.
the only redesign they could do to keep up with the Mustang was to Retrostye it (ford did outstanding job by the way), cause the standard Z/28 OWNED all but the exotic Horses... and they cost twice as much. that and the insuance companies just go wild over the Z/28 and Trans-Am cause they'll do over 150MPH... my 94Z is on it's third carrier. most of the kids that can afford them can't get them insured, or if they can... they can't afford it
But Zeta, which is the sedan platform, has been killed. Kappa cars will not make a huge percentage of sales - convertibles/coupes never have. Their bread and butter are sedans, and they have nothing in the pipe that's interesting. The G6 is a pile of crap, the Impala is a joke with no replacement in sight, the Malibu is an embarassment... I can go on and on.
That is a bit of a stretch but it does help. I bought a 2002 Ford Ranger, 4X4, off road package, for $0 down and 0% interest financed by Ford Credit.
I should have bought two.
Yeah I know, I own a 1998 Z28. I'm under 25.
The insurance was more than the payments (paid the car off though!).
Its crazy.
GM's Balance Sheet:
Total Cash - 26.39B
Total Cash Per Share - 46.75
Total Debt - 291.83B
Total Debt/Equity - 11.399
http://finance.yahoo.com/q/ks?s=GM
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