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General Motors Company Message Board

wngr123 309 posts  |  Last Activity: 1 minute 16 seconds ago Member since: Oct 24, 2008
  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 31, 2016 10:41 AM Flag

    "Simply stated, cash burn means GM has more money going out than it has coming in. That situation is getting worse, as sales fall."

    And just for your information, GM had positive cash flow from operations of $7.7B for the year 2007 and INCREASED cash on hand from 2006 to 2007.

    Please specifically identify your source and for God's sake, don't say GM. Was it in an article? Which article? Please identify your source Mr. Google.

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 31, 2016 10:34 AM Flag

    "From the end of June 2007 to the end of June 2008, GM's cash and cash equivalents shrank at an average rate of about $1.6 billion per quarter. That shrinkage more than doubled in the second half of 2008, to an average of $3.5 billion per quarter."

    Doesn't answer my question. I asked how much cash did GM have at the end of 2007. The reason I picked 2007 is because the ONE assembly plant that GM built in that time frame, San Luis Potosi, would have been nearly complete by that time and nearly all progress payments would have been made.

    How much cash GM had at the end of 2007 is a simple question with a simple answer that is apparently beyond your ability to answer.

    I'll help you. At the end of 2007, GM had $24.5B in cash and another $2.1B in marketable securities. That's $26.6B that they had after finishing SLP (which only cost about $700M to build by the way which was about 2.5% of their cash on hand). Would $700M extra have prevented their bankruptcy?

    Here's my next question to you....let's see if you are able to answer this one. How much cash would you like for them to have on hand for a rainy day?

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 31, 2016 10:16 AM Flag

    "Silao Transmission Silao Mexico 2008"
    Silao Transmission was NOT a new plant, it was on the existing site of the Silao Assembly Plant.

    "Toluca Assembly Toluca Mexico Medium Duty 1994 2008 closed
    A plant oly 12 years old in Mexico got closed"
    Only the very small (less than 100,000 square foot) CKD assembly operation was discontinued. The foundry and engine operations continue. And Toluca has been in existence since 1965, which is 51 years, not 12.

    ""I have told you numerous times, Mexico is a production center, NOT a sales center"
    But they still couldn't export them to Germany, Japan, Korea or China "
    So what, I honestly don't get your point....if you have one. Why would they ship cars around the world when those countries have their own nearby low cost countries (or are their own low cost manufacturer)? Can you explain that please?

    "But GM spends money trying to get American retirees to buy something that may have been assembled in Mexico."
    Or Canada, or Germany, or South Korea. You bought a car from Canada, what's the difference?

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 31, 2016 9:58 AM Flag

    "Appreciate the Gm breakdown as far as investment limits. It is not really germane, but good to know."
    Good I was able to teach you SOMETHING. As for its relevance, I thought a little education might be in order so that you might be able to at least project the illusion of being competent.

    "To be honest, not for one second did I think the CFO signed off on the 5 Billion GM has committed to Mexico in the past four years. The term was used because he will be a major focus for measuring results."
    Right. That's OK, it is the least of your misinformation.

    "Billions and Billions and Billion could have been rewritten as "many billions". Feel better?"
    No, it is still incorrect.

    "Again, Gm has forgone billions of dollars in profits by making the choices they made in Mexico (and elsewhere)."
    Yes, that's the point in question isn't it? All of this thread, and many others, are all asking you to explain yourself and provide substantiation.

    Let me help a little bit if I may. When business people talk about "losing" money, they are referring to the income statement. I believe you are misusing the term and are referring to a balance sheet item, i.e., the asset investments made in Mexico. Am I correct?

    You've always been a little confused on this point. Please answer if you are speaking of profitability, or asset values. Then I will have more to say.

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 31, 2016 8:20 AM Flag

    "Jeye, look at this answer of his. This guy wants you to tell him how much cash and equivalents GM had in 2007. It is one of the funniest answers he has ever written."

    I'm sure you won't understand this because I will be making a fact based argument. But before I do, it's essential that the facts be established. Try and understand.

    Obviously for some uninformed person that has made the statements that you have, this will be a complex issue to understand.

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 31, 2016 7:27 AM Flag

    "Focus, man! You have stated that GM HAS LOST "BILLIONS AND BILLIONS AND BILLIONS" IN MEXICO. Stop the blather and offer some proof or shut the hell up!"

    He has neither the ability nor the information to substantiate a ridiculous statement like that. Plus he is suffering from the ailment of 'fact aversion'. He has no ability to find information relative to the 'topic at hand' and has the business knowledge of a first year BA student at a community college as evidenced by his naive statements about the CFO deciding where money should be spent.

    He will continue with his attempts to change the subject until we get tired of talking about this (he doesn't know us very well).

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 30, 2016 9:51 PM Flag

    "Irrelevant to the topic at hand. Again."

    I honestly think you've forgotten the topic at hand the315185. It is Chebby challenge to you to prove your premise that Mexican operations have cost GM "billions and billions and billions". Remember?

    You have not presented one piece of evidence to support this rather Trumpian statement.

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 30, 2016 8:27 PM Flag

    "GM open 2 new plants in Mexico in 2008 it cost money to build these plants. Second GM was spending needed money closing plants here."
    Which 2? I only know of San Luis Potosi.

    "They spent money they didn't have to spare."
    How much money (cash and cash equivalents did they have at the end of 2007?

    "Again GM could only export the Mexican assembled back to America and Canada."
    Why? And why do you care? Don't you think those are big enough markets?

    "The fact is now no advantage for GM now that the Germans, Japanese and Koreans using NAFTA. "
    So what do you propose GM does? It would be a huge DISADVANTAGE to bring them back to the US.

    "Makes you wonder if Congress and the President gave any thought this would happen."
    I doubt that Clinton anticipated this. He started believing the UAW propaganda that US worker were competitive with anyone in the world.

    "The sad part GM only sells a few in Mexico at least they have good sales in China."
    Do you think GM really cares much about how cars they sell in Mexico? You are again proving yourself to be incapable of learning. I have told you numerous times, Mexico is a production center, NOT a sales center.

  • Adrian

    I mentioned a couple of weeks ago that my neighbor had a brand new Tesla and I would talk to him to see how he likes it. I finally got the opportunity the other day and thought I might pass along his feelings.

    Overall, he loves the car, but he has had a few adventures with it.

    He bought the car in Cleveland. It is about 200 miles from Cleveland to our houses so he was able to drive it back without stopping for a recharge. You can't buy one in MI due to the dealer lobby in the state legislature which is clearly scared to death of any competition.

    He only had it for 2 weeks and was rear ended causing quite a lot of damage due to the aluminum construction. He took the car to Chicago to be repaired at Tesla's suggestion, and it languished there for 6 months. Tesla was so embarrassed that they gave him a basic Tesla for a loaner after his stringent complaints. When got it back, he was pleased with the repairs. It's nearly 300 miles to here from Chicago and it was in the winter (he says he loses about 20% battery charge in cold weather), so he had to stop in Ann Arbor where they have a Tesla charging station (not on the way, had to make a detour). He said it took about half an hour to get an 80% charge which was enough to get him home.

    He also says the car parts are not that great, i.e., seat comfort, handling, body fits. He loves the acceleration and the instrumentation.

    All in all, he likes the car and has no regrets about buying it.

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 30, 2016 11:41 AM Flag

    Continuing

    - TOTAL net assets in ALL of South America are $7B. To most people proficient in the English language, "Billions and Billions and Billions" means at least $6B. You really need to put some proportion into your arguments.

    - You need to understand that neither Mexico, Venezuela, nor Brazil are profit centers as reported, so you (and everyone else) are clueless as to whether money is being made or lost in those countries. We need to look at the regional profit centers to get a feel for profitability. In the case of Mexico, it is part of the North American profit center which reported "Billions and Billions and Billions" of earnings, not losses, in 2015. A cool $11 billion to be exact. In South America in Q4, GM broke even. There was a FX deterioration of $200M which was more than offset by improvements in mix, price, and cost.

  • Reply to

    the315185: Is There A Problem?

    by cheblammo May 29, 2016 11:03 AM
    wngr123 wngr123 May 30, 2016 10:44 AM Flag

    ""but you've yet to explain the "Billions and Billions and Billions" GM has lost in Mexico."
    I have explained this. Multiple times. This is not difficult stuff to dissect. Let me simplify it for you?
    When a CFO makes a decision about cash allocation and investment, results must be measured."

    I haven't had time to keep up with this conversation until today, but let me say that I have read your explanation and only have two reservations about it:

    1. It seems to have no support in actual fact.
    2. It is wrong.

    Let me elaborate.

    "When a CFO makes a decision about cash allocation and investment, results must be measured."

    In the by-laws and procedures of any company, there are Approval Limitations. In GM, an officer of the company is limited to signing projects under $25M, senior officers (such as CFO) up to $50M, and the CEO is limited to $100M. Over that, the BOD has to approve. To invest "billions and billions and billions", obviously it is not the CFO's sole prerogative.

    In addition, the CFO would not be proposing projects that deal with the operating sector of the company, quite obviously the operating group would have that responsibility. The CFO would be one of the staff executives that would have input, but not execution responsibility.

    "GM chose to invest billions of dollars in Mexico at the same time that they were losing hundreds and hundreds ( and ultimately well more than a billion/s) of millions of dollars in Venezuela and Brazil."

    OK, yet another clumsy attempt to change/divert the subject. I thought we were talking about Mexico. I fully understand that you want to divert to Venezuela and Brazil instead of Mexico. Here are some interesting facts you may want to consider before engaging in any future proclamations:

    (continued)

  • Reply to

    Chevrolet's on a Big Run

    by greatday43 May 24, 2016 5:49 PM
    wngr123 wngr123 May 27, 2016 5:42 PM Flag

    "I can balance a check book, but the leadership at GM couldn't, even with all their writing skills."

    What about Pat Buchanan's article? Have you abandoned it.

  • Reply to

    Chevrolet's on a Big Run

    by greatday43 May 24, 2016 5:49 PM
    wngr123 wngr123 May 27, 2016 1:03 PM Flag

    "Stick to the subject at hand, I'm not here for a writing class lecture."

    Your grammatical ineptness is the least of your problems with that paragraph. I would try to explain why the content is wrong, but you have proven yourself to be incapable of learning.

  • Reply to

    Chevrolet's on a Big Run

    by greatday43 May 24, 2016 5:49 PM
    wngr123 wngr123 May 27, 2016 11:04 AM Flag

    "Yes that is right GM and Ford no longer has a advantage anymore with Mexico weak labor laws and cheap labor. GM pulled out of Russia because of their weak Currency. Russia wasn't a export hub like Mexico."

    Jeye, there are so many things wrong with those four sentences (should be five) I don't know where to begin, so I won't. You had best stick to your cut and pastes.

  • Reply to

    Chevrolet's on a Big Run

    by greatday43 May 24, 2016 5:49 PM
    wngr123 wngr123 May 27, 2016 6:57 AM Flag

    "No need to fret. It's all there. I'll leave it to you and your international expert buddy to square away. Enjoy."

    I believe you have him cornered Chebby. He is asking us to explain something that we know to be wrong. What kind of logic is that?

    It's interesting to me how anyone that has been proven wrong on so many occasions will continue to insist he's right.

  • Reply to

    Auto Recall

    by jeyebolt2003 May 25, 2016 2:19 AM
    wngr123 wngr123 May 25, 2016 2:08 PM Flag

    "The other day, however, John McElroy reported that Toyota may be
    down to only $18.5 billion in cash with rapidly spiraling debts."

    There's an easy way to check this out Jeye. Why don't you?

  • Reply to

    Auto Recall

    by jeyebolt2003 May 25, 2016 2:19 AM
    wngr123 wngr123 May 25, 2016 1:20 PM Flag

    "How is Takata still in business? It produces what I would think is the most recalled product ever?"

    The Japanese OEM's are most affected and they have inadequate capacity at other sources to replace Takata for both new parts and replacement parts. They will not let them go under at least until they can resolve those capacity issues in one way or another.

  • Reply to

    Cadillac's Continuing Sales Problems.

    by greatday43 May 3, 2016 9:35 PM
    wngr123 wngr123 May 25, 2016 8:35 AM Flag

    "I even googled "Mexico is costing GM Billions" but all I get is articles detailing GM Mexican investments and how they're saving big in doing so. Now what do I do?"

    Of course there's nothing on the internet about GM losing in Mexico. It's a secret, and only the315185 has unlocked the code.

  • Reply to

    Cadillac's Continuing Sales Problems.

    by greatday43 May 3, 2016 9:35 PM
    wngr123 wngr123 May 25, 2016 7:21 AM Flag

    "Ask wngr. he understands 100 percent"

    That's a bit of a clumsy dodge, wouldn't you say Chebby?

  • Reply to

    Cadillac's Continuing Sales Problems.

    by greatday43 May 3, 2016 9:35 PM
    wngr123 wngr123 May 25, 2016 7:19 AM Flag

    "It is incredibly difficult to hold my temper with you. "

    Oh my, what ever will you do? I'm getting a visual of someone stomping their feet and steam coming out of their ears under great pressure. Relax, it's OK to be wrong occasionally.

    But thank you for this morning's laugh.

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