I was talking to a friend of mine about economics and government bailouts. It brought to mind something said here.....that GM's problem is 'a perception problem'. Let's look at that for a minute:
1. The big three automakers built pure crap cars for DECADES. Tens of millions were turned off to domestic cars.
2. Union workers at the big three actually ADMITTED that during this time that they intentionally built crap cars because 'they were unhappy with their pay'. How is THAT for good ole fashioned American work ethic? Millions more ticked off at the big three.
3. The big three KNEW they were building crap, but did it anyway. Why? Because they knew there was no real competition. Who cares if we're blanking our own customers, where else can they go! Millions more ticked off.
4. When things start to go bad and they need to cut benefits costs, does the union let them do it? Of course not! Thousands of workers continue to get paid 95% of their pay while NOT working, some for years! Millions more ticked off.
5. When things are getting worse and the companies are near bankrupt and they need to cut costs to survive...does the union let them do that? Of course not! Until the very end union workers fought everything and said screw you all! Even though everyone around the country is struggling, they want to keep getting paid way more than they deserve! Millions more ticked off.
6. GM stock goes to zero. Millions more ticked off.
7. GM bondholders get pennies on the dollar, and somehow the unions get way more even though legally they were behind the bondholders were ahead of them! Millions more ticked off.
8. GM and Chrysler get bailed out....with my money and yours! Chrysler isn't even an American company! Why are we bailing out GM and Chrysler, but not OTHER companies? Thousands of other good companies with hard working employees didn't get a dime of government money...but they did. Millions more ticked off.
9. And now, after years of lying to the American people, we're supposed to just BELIEVE you that your product is better than everyone else? Why don't you just say this.....yeah, our cars sucked for decades but NOW they're good! Yeah, right. I'll pass. I guarantee you, millions ticked off.
10. And my favorite.....union workers telling hard working Americans that they "aren't patriotic Americans unless they buy from the big three". Let me tell you something....YOU are the Un-American ones. Your decades long garbage attitude, greed, pathetic work ethic, and arrogance is appalling! Millions more ticked off.
11. Have the big three learned anything? Let's see......not long ago GM ran a commercial about how they had "paid off their government loan in full!" What a crock of garbage. They haven't learned a thing, still spinning things, deceiving us and full of dog dung. Millions more ticked off.
So you can call it a 'perception problem' all you want, but you're wrong. Your problems are way deeper than you want to admit. And worse, you brought this on yourself. You deserve what you got and what you're getting. The Un-American ones are not us, but in fact.....YOU. Tens of millions of us will never buy from you again, and rightfully so. How you can look at yourself in the mirror with a straight face is beyond me.
With the States and Local Government footing the Bill and years of Property Tax abatements.>>>>
If the taxpayers of Alabama want to buy me a car, I have no problem with that.
John, you must be on ignore now too. He's totally ignoring your posts now too. Soon, there will not be anyone he can bellow to.
Well, I hope the board is taking note. This is MAllen's way of admitting he lied to us. He isn't even coming on with one of his blustery tirades about something personal. He has no comeback.
We'll keep these messages in memory for the next time he says something about making money shorting. He's not getting away with that any more.
With the company's European operations suffering major losses, increased spending on new vehicles and need to buy back shares from the U.S. Treasury, GM might just need a good source of money for the future, the WSJ added. The company is in talks with existing credit suppliers like J.P. Morgan Chase (JPM), Morgan Stanley (MS), Citigroup Inc, Barclays (BCS) and Deutsche Bank (DB), the paper said.
If you take a look at GM's balance sheet, it shows about $32.6 billion in cash and $14.79 billion in debt. With that type of cash, it seems to have more than enough on hand. Also, while it is losing some money in Europe, those losses are more than offset by profits from North America and other regions, so it is hard to imagine any need for a credit line for "European losses". This leaves a share buyback from the U.S. Government as a potential use for an expanded credit line.
<<<<So those 400 jobs cost the state $56.5 Million>>>>
Toyota jobs are not GM jobs.
Maybe jobs are worth more when a company makes more money, jeye. Ever think of that?
What did we spend per GM employee job?
<<<<You've made a strong argument for buying a Camry. Welcome to the ilk!>>>>
<<But you bought a NOSE BLOW Sonata>>
So you are wondering why I bought a Hyundai? I liked it better. And by the way, the 2011 Sonata is STILL rated higher on edmunds.com than the 2011 Camry.
4 and a half stars, baby.
I'm just sayin'. Can I pick 'em or what? It's hard to get above 4 stars on that site.