1968 Buick Wildcat
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?
Short sellers highly organized and determined. Bad news, bad news, this is scary, watch out below, etc., etc.
America has been poisoned by too much credit!
Now that's serious union busting. China is licking it's choppers.
We see here the concept of deep and serious poop.
My mom had a 1988 Buick Park Avenue that ran forever, except the paint crazed and went white (on a black car) and they would not cover it though clearly the paint was defective. Several years later she bought a 1994 LeSabre with the same engine, except the interior was even crappier.
Aside from the 3.8L V6, which was designed in either the late 50s or early 60s, the cars have no redeeming features.
My first car was a VW Golf, then a Saab 9000 Turbo (loved it), then a Saab 900 (tanklike but not as refined as the 9000), now a Toyota Echo ... next car or pickup will also be a Toyota.
A GM bankruptcy would be worse for the unions which are driving US competitiveness in certain industries into the ground, than it would be for the corporate world.
Let it happen. The US economy can survive it more smoothly than many seem to expect.
Sounds like a good time to buy GM stock.
I wouldn't put it past Deutsche Bank to do some kind of deal to buy out GM.
DB just bought out a big US mortgage company in Boston, and they're looking for US assets because German law just changed last year allowing them to do so.
DB has some really, really bright people in their NY office.
Anyone want to get together on an LBO of GM?
Watch for a UAW buyout like American Airlines. It will be equally successful.
Time to start revvin up them rickshaw and rice bowl assembly lines -
We are Third World bound.
This sums it up nicely. Meanwhile, execs loot the ship before she sinks!
The only downside is that the US taxpayer will probably also get the shaft as a side-effect. Oh well. Another day in paradise.
Too timid. GM's board should replace the current management with managers from Toyota.
An indication of GM's problems is that it's replacement parts have been extremely expensive when compared to at least some other automakers. GM, to my knowledge, has never been able to reach needed agreeements with its suppliers to produce lower cost parts.
Weak management and corrupt unions are to blame for this current imbroglio. They managed to sink the steel industry in the country and are well on the way to doing the same to the auto industry. By the way, the UAW is pulling the same strategy on Caterpillar.