The New Bailout

[tw]

Remember last year when GM said it had enough cash reserves to survive? It only needed a few $billion? Remember others here who so hated American and humanity as to buy their crap ... and recommend it? Now from satan lovers - also called MBAs -

G.M. Raises Loan Request by $12 Billion
The price tag for bailing out General Motors and Chrysler jumped by another $14 billion Tuesday, to $39 billion, with the two automakers saying they would need the additional aid from the federal government to remain solvent.

The entire market value of GM is $1.33 billion. So GM - with numerous crappy products - deserves another $10billion.

They only needed a few $billon a few months ago because the scumbags said the problem is not in GM; the problem is the economy. Yes, if you are Rick Wagoner, and MBA, and therefore still in denial. Many Cellar dwellers do not know how this man just put their jobs at risk.

What changed? Why has GM increased a few $billion into $30billion? Because GM did not declare bankruptcy and expel Wagoner. GM is still ignoring their problems - only doing enough to beg for more free government money.

GM must eliminate Saab, Saturn, Pontiac, and Hummer. Closing only two divisions will no longer be sufficient because Wagoner et al has done nothing. It will not end there. A previous prediction of two divisions is now woefully insufficient. Wagoner expects more corporate welfare. Will not address these problems. Cannot address problems when spread sheet games continue to stifle innovation - as any properly trained MBA does.

All automakers are hurting. However a patriot understands why bankruptcy eliminates problems - especially top management. 85% of all problems are where? Eliminate real problems so that companies that have been addressing the problem for seven plus years now - Ford, Toyota, Honda - will save America.

Just like in Lehman Bros. Richard Fuld remained in denial because rich executives are too important to not receive corporate welfare. Now that GM and Chrysler will get more free money, other American companies will not address a nationwide problem. That means your job is at risk or already lost.

A headline in the New York Post, to save your job, should read: "Obama to GM - drop dead". It caused 1979 Chrysler and 1981 Ford to eliminate their only problems. It caused NYC to stop playing money games on spread sheets. Therefore jobs were not lost. Instead numerous other companies began asking embarrassing questions of their top executives. Instead GM will remain so much in denial as Wagoner believes GM deserves to be saved.

85% of all problems are directly traceable to top management. Often threats of bankruptcy are necessary to fix such problems - not just in GM. Also in your employer.

[Undertoad]

Originally Posted by tw

GM must eliminate Saab, Saturn, Pontiac, and Hummer.

Saab just filed for bankruptcy, thus allowing GM to sell.

It turns out the Swedish government was not interested in a bailout plan, opting instead to send them to bankruptcy. Huh. If only the US were as capitalist a country as Sweden...

GM killed a great brand. Saabs used to be the coolest thing on the roads. Now they are bland pieces of shit. Maybe they can be resurrected.

[glatt]

I was just thinking the same thing yesterday. Back in the 80s, Saabs were everywhere. I haven't seen one on the road in ages. GM killed the company. Or at least made the cars so bland I don't even see them when they are driving around.

[glatt]

I just found this graph of Saab sales over the years. They grew steadily during the 80s and peaked in 87, which is around the time I remember I started seeing them everywhere. Then they took a nosedive.

Partway though the nosedive, GM acquired a majority stake in them (1990,) and slowly started to grow the brand again in the early-mid 90s. Then about 3-4 years ago, they took a nosedive again.

[glatt]

Originally Posted by glatt

I just found this graph of Saab sales over the years. They grew steadily during the 80s and peaked in 87, which is around the time I remember I started seeing them everywhere. Then they took a nosedive.

Partway though the nosedive, GM acquired a majority stake in them (1990,) and slowly started to grow the brand again in the early-mid 90s. Then about 3-4 years ago, they took a nosedive again.

I just read in the paper this morning that GM couldn't find a buyer for Saab, so they are shutting it down.

That's it. Saab had a nice run and produced some neat cars, but now they have gone the way of the Studebaker. Good bye Saab.

[glatt]

Originally Posted by glatt

GM couldn't find a buyer for Saab, so they are shutting it down.

But wait! There's a last minute deal. GM just reached a deal with exotic car maker Spyker and the Swedish government to unload Saab. Saab's not dead yet, and being owned by an exotic car maker may give it a much needed boost.

[sugarpop]

Originally Posted by Undertoad

Saab just filed for bankruptcy, thus allowing GM to sell.

It turns out the Swedish government was not interested in a bailout plan, opting instead to send them to bankruptcy. Huh. If only the US were as capitalist a country as Sweden...

GM killed a great brand. Saabs used to be the coolest thing on the roads. Now they are bland pieces of shit. Maybe they can be resurrected.

GM also killed the electric car. The company should just be sold off to the highest bidder. Why are we paying so much more than the company is even worth?

And Chrysler is a private corporation owned by wealthy hedge funds. So why the hell are we bailing them out? Shouldn't they use their own money?