GM now has lost something like $5billion this year. Trivial intelligence is necessary to appreciate why GM is losing so much money. Routinely perform HP/Liter calculations for their crappy engines. GM products need typically two extra pistons to obtain same horsepower. So the technology originally pioneered by GM in the early 1970s still will not be sold in that brand new car - using the same technology from 1955 models. From the NY Times of 4 Dec 2005:
Quote:
Engines Go Back to the Future
GERMAN automakers gave up pushrod engines long ago, in favor of more complex overhead-cam power plants. The Japanese have essentially quit making the old-design engines. Ford is down to just a couple.
But Chrysler, with seven, and especially General Motors, with about a dozen in 21 different forms, remain bastions of the pushrod engine, also known as an overhead-valve design.
Not only has G.M. continued to carry forward older engine designs, like the famous "small block V-8" in your grandfather's 1955 Bel Air (and your son's 2005 Corvette), it has been designing new ones. The Chevy Impala offers two pushrod V-6's that are new for 2006.
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Today we have another GM solution. Promote more MBA types into top management. From Bloomberg News of 6 Dec 2005:
Quote:
GM's Henderson Is Finance Chief; Devine Stays 1 Year
General Motors Corp., the world's largest automaker, appointed Frederick Henderson chief financial officer and vice chairman to help end losses in North America after he trimmed jobs at its money-losing European business.
Henderson, 47, will replace John Devine, who will serve as a vice chairman, GM said in a statement today. Henderson will help Chief Executive Rick Wagoner eliminate 30,000 factory jobs and close 12 facilities in North America, where GM has lost $4.8 billion from its auto operations this year. ...
Henderson since June 2004 has led an effort that included slashing 12,000 jobs in Europe, where GM hasn't had an annual profit since 1999. The European business in this year's second quarter posted its first profit in five years, before slipping to a $382 million loss in the third quarter.
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GM was once making a profit in that International division when Louis Hughes was runnning it. Hughes is a car guy. But Rick Wagoner, the finance guy (bean counter) who was running North American into losses, instead, got GM's top executive position.
Hughes left. MBA types ran his operation for years losing money. At what time does someone in GM start cutting the heads off of finance guys and start promoting car guys? When we finally drive this anti-American company into bankruptcy so that it will fix the problem - top management?
Can you believe it. They are still designing new engines with 1950 push rod, obsolete technology. Then promoting more of the problem - bean counters - to solve their crap product line.
Let's see. The government gave them how many hundreds of millions of dollars in 1994 to build a hybrid? Where are those products? It requires an MBA to worry about the product - to innovate. Finance people cannot innovate except on spread sheet. In some places, spread sheet innovation is still called fraud - when they don't contribute enough to Bush Cheney campaign funds.
Here's to all you fools who voted for an MBA educated (mental midget) president - and buy GM cars designed by MBAs. Thank you for pomoting the 'heart attack of America'.