Free Republic

The General Motors Corporation, reeling from the abrupt shift to small cars by consumers, posted a $15.5 billion second-quarter loss on Friday, in results weighed down by restructuring charges and write-downs. According to the earnings statement, the loss included $9.1 billion in one-time charges, $3.3 billion of which was for employee buyouts. [Snip] Excluding one-time charges, G.M. had a loss of $6.3 billion or $11.21 a share, compared with income of $1.3 billion or $2.29 a share in the same period last year. Included in the results, the statement said, was $1.3 billion in write-offs that reflect the drop in...

Not surprisingly, their cheap, crappy vehicles have failed to sell. Now they find themselves facing massive financial losses, a blood-thirsty union, and a prolix lineup of nearly all worthless vehicles. The solution? Scrap every single worthless vehicle and vehicle line, and produce quality vehicles only. In other words, they should stop making Scion/Neon/Corolla-equivalents and start making 335i/GS430/G35-equivalents. GM has tried new marketing schemes and sales pitches, but they are slowly realizing that no business scheme can make people want to buy their crappy cars. Even though Michael Moore will be devastated, the smartest move for the General is to start...