GM Warns It Won't See New Year Without Aid

CBS/AP ^ | Dec. 3, 2008

[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."

[ScottinVA]

Sucks to be a recent GM auto buyer expecting them to make good on a warranty.

[Beagle8U]

Buh Bye GM.

[Focault's Pendulum]

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?

Ding! Ding! Ding! We have a winnuh!!!!

[Eric in the Ozarks]

It happened to Studebaker. We’ll get over it.

[pburgh01]

Problem is with Detroit is 80% of the non auto employed populace does’nt have the warm and fuzziness for the automakers. The impression of most folks is of that last brush with that arrogant service manager,pushy Chevy sales guy, or the chronically whining assembly line guy who makes 70 bucks an hour putting in car windshields. Detroit was expecting some outpouring of public support and it isn’t there. Years of pushing crappy cars and making folks tolerate them has evaporated the goodwill. They confused a love of the 1969 Z28 Camaro as a love of what they do now. I feel bad for those overpaid folks in Detroit making Tahoes but as Mark Levin would say...How is that my problem?

[Redbob]

Well, as we used to say in Tennessee, “Sayonara!”

[Seaplaner]

Adios (and keep your tax-grubbing-UAW-mitts off of our Treasury!)

.

[Focault's Pendulum]

It happened to Studebaker.

I had one of those....pretty sturdy vehicle.

[Designer]

auto giant may not make it to New Year's Day

(sob)

OK

(snif)

G'bye

(blow)

[ZX12R]

Boo Hoo, Cry Me a River, Violin, etc.

[Dallas59]

New 2010 GM Bailout SUV

[Larry Lucido]

Well, the loss of Packard Motor Car Company is still being felt, I’m sure.

[mnehring]

whoop, whoop, let Toyota buy them and show them how to run a business.

[Designer]

"...How is that my problem?"

Bump!

[Doc Savage]

Die. Please stop making all the lousy POS you have made over the years. All crap! Please, just slink away and go out of business! Oh yeah, enjoy your Golden Parachutes you filthy swine!

[Redbob]

"...assembly line guy who makes 70 bucks an hour putting in car windshields."

You're high; nobody makes that kind of money on the assembly line.

Do you know why Mercedes and BMW located in this country?
Hint: it's because we work cheaper than Germans do.

[HamiltonJay]

BS... File for BK reorg, what a crock of crap.

[ScottinVA]

I say bring back Tucker Motors Corp!!

[cyberaxe]

Sucks to be a recent GM auto buyer expecting them to make good on a warranty.

.....yep, bought six so far this year.....

.....and need three more before end of year.....

.....aaarrrggghhhh.....

[HamiltonJay]

Line worker average cost to employ directly is about $45 an hour, wages and benefits, problem is the folks who are already retired add another 30-40 bucks an hour to GM’s costs for that actual hour of work, so GM’s costs per hour of labor are indeed $75-$85 an hour.

That’s the problem, GM, Ford, Chrysler should be going BK not begging for handouts, and the government should not even be contemplating giving them any. Throwing good money after bad is just silly.