If only Obama let them declare bankruptcy and shed the UAW when they had the chance! Now they are a zombie auto company, waiting to be shot in the head. Can't wait for GM to go broke again in a couple of years!
Sentiment: Strong Sell
GM cars that are comparable to some foreign cars, GM MSRP ranges from 10k to 20k more. This is due to greedy labor and greedy mgt.
Non union people are waking up that they, customers must pay for all of union and mgt benefits. The time is over when they don't realize this. Again, non union people pay for all union and mgt benefits.
"GM cars that are comparable to some foreign cars, GM MSRP ranges from 10k to 20k more. This is due to greedy labor and greedy mgt."
You are SO full of chit it's coming out of your fingertips!
Show data/examples you freakin' liar!
We ALL suspect that you WON'T be able to do it. So, save face and at least try it. Follow up with a little mea culpa and MAYBE, you'll get some responses to your occasional reasonable posts...
"GM cars that are comparable to some foreign cars, GM MSRP ranges from 10k to 20k more."
Longpickuptruck, Scarbrobill, whatever, you're a fraud. Prove your claim. Until then, you're a fraud. Simply tell us what GM car vs a comparable foreign car.
agree, GM is still a much less competitive company, however, if econmy keeps rolling, GM may still be able to survive for a few more years, unless its leader will change its culture. Right now, economy is in recovery, with the money GM scewed from the investors and tax payers, it should still have some life.
No, they should have gotten the same deal the Banks got that created the Financial recession. Cheap loans like the banks got, but the Auto industry was a victim and got dragged through the mud. These same were the ones that drove up energy prices leading up to the recession. These are just 2 of the crooks Goldman is stealing from the consumer today with them driving up Energy price so they can get a fat bonus.
Sachs (NYSE: GS) received a multi-billion dollar bailout from the government, like most financial firms in 2008. Those were dark times for “Golden Slacks;” the company’s stock once reached the $200 a share level, but fell a staggering $150.
Finally, AIG (NYSE: AIG) may be the one company in the list of bailout recipients that came closest to sinking the the entire economy. It lost multiple-billion dollars and was gushing money so fast that the insurer looked as though it would be scuttled. It was only months prior to the crash that AIG was regularly priced above the $1,000-a-share mark--quite an elite club.
The major myth is that GM is just one more victim of the current global downturn. It is a myth that has been propagated and, lamely and lamentably, offered as the cause of the company’s troubles by none other than the corporation’s CEO. “What exposes us to failure now is not our product line-up, or our business plan, or our long-term strategy,” said Rick Wagoner last fall, before a Congressional considering whether to offer bailout money. “What exposes us to failure now is the global financial crisis, which has severely restricted credit availability and reduced industry sales to the lowest per-capita level since World War II.”
Such denial withstanding, the reality is that the last five years have been financially devastating for GM. However, the fact is that, during this time, highly market-focused competitors like Toyota and Honda have had solid net cash flows. This points to the purpose of this article, which is to identify and explain the real and central cause of GM’s fall, namely the loss of market focus across the many different portfolio levels in the company. These levels include the portfolio of divisions, brands within divisions, models within brands, the physical and cosmetic variations among models, market segments, dealers and suppliers. The article will argue that the major problem with GM is a deeply imbedded, long-held misconception about the real meaning of market focus and its critical connection to cash flow creation. Historically, GM’s financial metrics have focused on growing market share and revenue, rather than on creating and sustaining positive net cash flow. However, the loss of market focus on the scale and scope of GM’s will, in the long run, inevitably lead to huge cash losses.