Government Motors

[machman72]

I guess there are a lot of folks on here that now own a Government Motors vehicle . Since we are all 60% share holders, I think we should all get some deep discounts, and sweet side perks, don't you. I mean after all that is how the autop industry has been running for years. Why change now?

[EngineerMike]

We have to wait in line for the Unions & their leader on Pennsylvania Ave to give the Unions first crack at the perks. My guess is that by the time they get thru, there won't be much left for shareholders or the customers either.

[69RoadRunner]

I'm sure they'll be fine. Sure, they've put a 31 year old political hack with no business experience in charge of the bankruptcy. Oh, and the President has never run a business that had to make a profit and barely spent any time working for a business that has to make a profit, but this is a really good idea.

I think it will be as profitable as NPR.

[read & learn]

I think this is a big mistake, but now that it has happen we all have an interest that it works.
How do we made it work, I don't have the answer.
I do know we will have many answers from our iRV2 family and some will make sense and some will just be sour grapes, but remember it will be our tax money that will keep this company "Government Motors" going.

[RustyJC]

There's an interesting article in this morning's Houston Chronicle about Ford's situation versus its rivals:

Gerard Arpey should call Alan Mulally and welcome him to the club.
Arpey, as chief executive of American Airlines, once found himself in a position similar to Mulally, the head of Ford: surrounded by competitors who don’t have to pay their bills.

With General Motors’ bankruptcy on Monday, Ford is the only major U.S. automaker that hasn’t used the courts to wipe away its bloated cost structure. For months now, Ford has slogged through its restructuring the old-fashioned way: paying its own way.

It rejected government aid, which now tops $50 billion for GM and $15.5 billion for Chrysler. Depending on how you look at it, Ford deserves praise or pity, or both, because it may get punished for its prudence.
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Perhaps Ford should have taken a government bailout when it had the chance because now, Uncle Sam is the competition.

The rest of the article may be found HERE.

Rusty

[TXiceman]

This is a prime example of the old thing I found years ago. I do not know if Mother Teresa is the true author of not....."World of Quotes" officially list the author as unknown....Now turn them loose...and we will stay confused as we are now.

After reading the Chronicle article, I would rather buy a Ford and support a company they operates on the principles that they got themselves in the mess and will get themselves out of the mess. There is too much of the attitude of blame someone else and beg for them to bail you out of your own mistakes.

Ken

We, the unwilling, led by the unknowing, are doing the impossible for the ungrateful. We have done so much, for so long, with so little, we are now qualified to do anything with nothing.
Mother Teresa

[Dave Fernandez]

I wonder if I can get an Owners discount or do they provide owners with a free car, service & gas/fuel like all of the execs.

[RedneckExpress]

Well, definitely won't be buying a new Chrysler or GM vehicle, might just have to go with a good used Ford.

[BigSkyBob]

Well, you could be driving a Monaco coach and towing a Dodge pickup

[Ann n Gene]

Well, count me in the minority, I, for one, am glad that SOMEONE is TRYING to do SOMETHING to save at least some of the jobs in THIS country and is trying to rescue an old line American company that greedy management AND greedier unions have brought to its knees. Will it work, dont know and really I am skeptical, BUT I think that we had to try and hopefully it will succeed and this economy will get back on track. General Motors has been caught in a perfect storm. Yes the unions and bad management already had it on the ropes, then gas prices went to $4 and the fickly American consumer decided that those gas guzzling SUVs, pickups and huge cars had to go, so they changed their preferences overnight and bought small foreign cars coming from countries that have had high gas prices for years(so foreign car companies were in perfect position to take most all of the american market). Now that gas prices have eased GM is in another touchy situation, will comsumers quickly go back to big gas guzzleers or are the small, fuel efficient cars here to stay. Who knows??? Well, washington, GM and us tax payers are now betting the farm that we can outguess those fickle consumers and put GM back on its feet. Risky gamble?? Absolutely, but I really think that this whole stimulus and aid plan HAD to happen to keep us out of another Depression. If you look at the stats on unemployment, GDP drops etc, it is clear that we were headed very fast in that direction. It APPEARS that all this drastic action has SLOWED and perhaps PREVENTED us from that dire consequences. just my opinion, as I have already stated, likely in the minority. Gene

[rick_d]

There are obviously a lot of RV'ers who would like to see General Motors fail - I'm not one of them. It would put thousands of supplier companies out of business for one thing. I hope both GM and Chrysler succeed and become main players in the auto industry again.

Why do so many here want General Motors to fail? Simply politics is my guess. Putting ideology ahead of what's best for the country. If the other party was in power, they would be supporting this move - no doubt in my mind as the first $17.6 billion was given to the auto companies under the previous administration.

[TXiceman]

I don't think anyone wants GM to fail. They need to start chopping at the top and get them to the point that they can compete on the world market. Part of the problem has been created by the Federal Givernment and the rest by the American consumer.

The American consumer wants bigger and faster cars when the rest of the world is getting by on much smaller cars than the average driver here drives.

The economy of the US is driven by world wide influences and not just our own forces as it was many years ago. In this global economy, the companies need to adjust or they need to find another business.

Ken

[EngineerMike]

I didn't want Studebaker to fail (but the UAW took care of that ), let alone Chrysler the 1st time , or Chrysler the 2nd time , or GM . People talk about bad management in U.S. car makers, but the common denominator is the UAW and its crony unions.

I figure there are now 3 scenarios:
1) Unions give themselves raises & sink the ship,
2) Unions give themselves raises & sink the Treasury, i.e. you & me (most likely scenario given current presidential proclivities- nothing is too good or too expensive for his union buddies if it comes out of taxpayer pockets),
3) Unions finally recognize customers have a choice, and coming down the road in not very many years are cars made in China and India (which will have problems to start, but look how fast Korean cars have come into their own, lotta Korean toads on this forum!), and knuckle down to reduce costs & improve quality like everybody else in the world.

I figure its #2 based on history. UAW killed numerous car makers as "expendable" just to prove they would in order to stick it most effectively to the Big 3. Then laughed at those stupid Japanese cars (lotta those toads here too). Then kept up the guffaw w/Korean rigs. Scenario #3 depends on CHANGE which has to be more than just a childish slogan. Never once did the UAW say hey wait a minute, maybe we are screwing ourselves out of an industry. UAW hasn't changed anything in their playbook since the 50's at least, so now that they can do anything they want, I'm betting We the People will be anteing up again & again. HOPE not, but hope isn't a smart plan or a good basis for a bet.

[69RoadRunner]

When somebody steals from me, I really have a hard time wishing them success.

Instead of giving Government Motors $50 Billion we don't have, and then letting them go bankrupt, wouldn't it have been better to give them nothing and let them go bankrupt?