“Incompetent, entrenched management, market share in meltdown and much better run competitors are killing this once great company.”
Come on! This is FR, get with the program. GM has only one flaw, unions. If union members were summarily shot, there would be cheers here. A less drastic step, that would still be greeted with much glee is to keep the managment here and move all manufacturing offshore. That would get some freepers wetting their pants with delight.
And those same freepers wonder why a putz like Obama is getting traction.
LOL. 12 replies and no one has said that yet. Waiting, waiting...
Great call!!!!
Wagoner is exultant that he and the UAW gruelingly managed last year to make a deal that, if blessed by a federal judge, will cut GM’s unfunded liability by around $15 billion and pare cash outlays as well. But that will still leave Wagoner facing a colossal competitive disadvantage. The cost is not his fault. Rather, it is a legacy dumped on him by CEOs of decades ago who gained a certain amount of wage restraint from the union—and labor peace for their own terms of office—by granting retiree health benefits that had neither large, immediate cash costs nor, under the accounting rules then applying, much effect on the bottom line. Today, with health-care costs exploding and the accounting rules stiffened, this mess has come home to roost. It is the problem, says Wagoner (almost certainly giving too little weight to his shortage of revenues), that more than anything else “affects the future viability of GM.”
http://money.cnn.com/magazines/fortune/fortune_archive/2006/02/20/8369111/index.htm
“union members were summarily shot?”
you’d be right at home in China...
FYI, genius, those “union members” you want shot are Americans! Maybe you should go over to the DU where you’d be right at home with the rest of the hate-America crowd!
Oh, and before I leave you to your ignorance, “brownsfan”, members of the “browns” are union members too...but then you didn’t think about that now did you!
gezzzzzzzzzzzzz..the IQ level ‘round here drops by the minute!
The truth is it’s both incompetenence and unions. I think if it was just one or the other they might be able to ride this out but I have serious doubts with both.