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.
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.
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.
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.
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.
And why not? the stupid airlines got tens of billions of our money, and we could lose half of them with less impact than a GM failure would have.
I love some of the new Cadillacs and I never thought I would say that. It's too bad that they are so expensive.
Save the US economy...give me a break! Are you for real?!...If that were to be true, it was because only in such conditions GM will sell any of their 50's technology sh!twagons.
GM overcriticized on FR; since when is GM excused from criticism, for delivering sub par products and charging premium prices for?!
General Motors is a fossilized shrinking giant from a bygone era, clinging to the Crown, unable to adapt to the new market forces and the unrelenting challenges coming out from Japan and Germany.(even the Koreans started to make better cars than GM, after they've got their asses whooped)
I would not shed a tear if GM goes belly up...