Posted on 12/03/2008 11:15:36 AM PST by george76
A top General Motors executive repeated claims Wednesday that the auto giant may not make it to New Year's Day if Congress doesn't approve a federal bailout for the beleaguered industry.
"We've seen … not only continued pressure in our business but the pace of deterioration has accelerated. October and November were just the worst levels we've seen post-World War II."
(Excerpt) Read more at cbsnews.com ...
And their point is...what?
I’m sure a lot of businesses will be failing this year. I guess we need to bail all of them out, right?
If I could get a tax-credit for buying a GM car, I would do it tomorrow.
This is what Chapter 11 is for.
Well...bye...
They talk like that is a bad thing.................
/johnny
Been there, done that. It works only if you give your best effort
RE “If I could get a tax-credit for buying a GM car, I would do it tomorrow.”
Why is this better than just giving them cash? Because the word ‘tax’ is used?
How about if I get a tax credit for breathing?
So GM now stands for
Gone
Monday
Oh, well. Should’ve made a better automobile. Too bad, so sad.
Ok go with Chapter 11. Then you will have reconstruction and renegotiation and see where it takes you.
And there is no reason to expect that it will get better for them any time soon.
People aren’t buying GM cars....Suppliers make money off of GM...Tax dollars keep GM afloat...People aren’t buying GM cars...Tax dollars keep GM afloat...Suppliers make money off of GM...People aren’t buying GM cars...Tax dollars keep GM afloat...
They don’t want to go Chapter 11 because they say that people won’t buy a car from a company in bankruptcy. How likely is anyone to buy a car when the head of the company says they may not be there by the end of the year?
Later GM. Nice knowing you.
That’s right — Chap. 11, then renegotiate on those union jobs. Didn’t the UAW recently say they were “standing firm” on their current figures?
Now their members can “stand firm” in the unemployment line.
Tough titties....
What I don’t see in GM’s proposal is a plan to help the 2000 dealerships and their employees they want to close deal with such a drastic solution. It seems to me that scaling down could be accomplished by reducing the demands on the dealerships to load up on inventory, by allowing the dealerships the flexibility of job sharing for employees willing to try it, and by even taking back some inventory. And I have heard nothing about plant conversions or the idea of letting the workers actually buy into the plants so as to become more invested in the whole process.
A government bailout will increase their sales figures? I don't think so. Sounds like a bad investment to me.
Obviously, we need another war on the scale of WW2.
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