Saving the US Auto Industry

[tw]

From Bloomberg News of 27 Nov 2008

GM Said to Study Shedding Saturn, Saab, Pontiac to Win U.S. Aid

General Motors Corp., working to cut costs to win $12 billion in government loans, is studying whether to shed its Saturn, Saab and Pontiac brands in addition to Hummer, people familiar with the matter said.

Selling or dropping brands would save money and reduce overlap as the biggest U.S. automaker struggles to avoid running out of operating cash by year’s end, said the people, who didn’t want to be identified because no decision has been made. GM’s other U.S. brands are Chevrolet, GMC, Buick and Cadillac.

A GM that wants to survive should be terminating half its SUVs and either the Corvette (that does not earn a profit) or a rediculous new 400 Hp Camaro. Also eliminate most V-8 powered products. Benchmarks for what a responsible Rick Wagoner will declare next week if he has any balls and any interest in saving GM.

I seriously doubt Wagoner will do even half this. It would require him to make hard decisions. He has a long history of simply throwing money at problems.

U.S. operations should be restructured to a maximum of four brands with a 17 percent to 18 percent U.S. market share from the current 8 brands and 22 percent market share, a Deutsche Bank AG analyst wrote in a report yesterday.

[classicman]

So "those in the know" agree with us here on the cellar. Aren't we just the schmart ones.

[TheMercenary]

Yea, but it hasn't stopped the Dems from wanting to give them more of our money.

[DanaC]

... how can you say that with a straight face, merc?

[TheMercenary]

It is very easy. Really...

[tw]

Originally Posted by TheMercenary

It is very easy. Really...

Of course. Lying comes naturally to some.

They need you in Detroit.

[TheMercenary]

Originally Posted by tw

Of course. Lying comes naturally to some.

They need you in Detroit.

So I can help eliminate them?

[TheMercenary]

HA! Poor fellas are feeling a bit picked on.

http://www.bloomberg.com/apps/news?p...efer=worldwide

[classicman]

Critics of a federal aid package for GM, Ford and Chrysler spotlighted the exchange to attack the money-losing companies as undeserving of a bailout. GM, the biggest U.S. automaker, has said it may run out of operating cash by year’s end without government loans.

GM also has seven planes in its own fleet. All were grounded yesterday, said a spokesman, Tom Wilkinson. Two are for sale and two are in the process of being listed for sale, while Detroit-based GM plans to keep three, he said.

Good, its about time! Why do they need 7 jets anyway? WTF?

[ZenGum]

Why do they need three?

Why do they need any? How often do their execs fly somewhere that isn't serviced by regular airlines? I haven't actually checked, but I'm pretty sure Detroit airport has plenty of flights going all over.

[tw]

Originally Posted by ZenGum

Why do they need three?
Why do they need any?

As posted previously, GM corporate policy says commercial flights are too dangerous for their executives. Top corporate executives are not permitted to fly commercially.

[ZenGum]

WHAT?????????? I missed that post.

Did they say that with a straight face?

I am torn between laughter, disgust, pointing out that commercial flights are (statistically) safer than private flights, and telling them not to be such precious namby-pambies. Someone needs a good slap.

[Undertoad]

Public hates you taking your corporate jet? Don't let them have that information:

GM Asks U.S. FAA to Bar Public Tracking of Leased Corporate Jet

Nov. 27 (Bloomberg) -- General Motors Corp., criticized by U.S. lawmakers for its use of corporate jets, asked aviation regulators to block the public’s ability to track a plane it uses.

"We availed ourselves of the option as others do to have the aircraft removed" from a Federal Aviation Administration tracking service, a GM spokesman, Greg Martin, said yesterday in an interview. He declined to discuss why GM made the request.

Flight data show that the leased Gulfstream Aerospace G-IV jet flew Nov. 18 from Detroit to Washington, where Chief Executive Officer Richard Wagoner Jr. spoke to a Senate committee that day and a House panel the next day on behalf of a $25 billion auto-industry rescue plan.

Fuckers gotta die.

[classicman]

Originally Posted by ZenGum

WHAT?????????? I missed that post.
Did they say that with a straight face?

I am torn between laughter, disgust, pointing out that commercial flights are (statistically) safer than private flights, and telling them not to be such precious namby-pambies. Someone needs a good slap.

Yeh - that was brought up as their excuse after they were exposed for all taking the corporate jets to the hearings.

Originally Posted by Undertoad

Public hates you taking your corporate jet? Don't let them have that information:

GM Asks U.S. FAA to Bar Public Tracking of Leased Corporate Jet

Fuckers gotta die.

Line 'em up! DO NOT BAIL THESE GUYS OUT! Take them all to court and share their millions with those whom they screwed used and abused. Perhaps a little poetic justice might help.

[cowhead]

the whole thing stinks.. no one was tried to 'bail out' bennigans when they closed and 20+thousand food service workers got canned.. fuck 'em they should have seen this coming years ago. Isn't that what they pay the high-muckity-mucks multimillion dollar salaries for? geez.. I saw this coming..and when the last little news blurb about them not wanting to produce smaller more efficient cars in favor of the more expensive and higher profit trucks and suvs'... I don't know.. I've never bought a new car and if I can help it I never will. here's my little idea. offer a deal to one of the 'big 3' and the first one to jump lives.. the others can fend for themselves.. the deal is that the company has to sell all of their vehicles at a 1% profit margin(to repay the debt over god knows how many years), be subject to intense accountability where a non-profit company (ideally a german or japanese efficiency/quality control company)will scrutinize every little damn dime.. as well as hold employees accountable for their actions (the thing in the industry in which I work.. if you can't do the job.. and do it well... BLAM! you're canned so fast it'll make your head spin. then again I have stayed away from the corporate segments because they encourage (thru inaction) laziness, incompetence and a profound lack of..of.. just caring about your job..pride in your work? ) and produce cars people actually want and can afford.. the new volkswagen if you will.. anywhoo.. that's ,my little bit..