[PQ]

Originally Posted by Codefive

+1 !!!
Heck, he could probably bail out GM out of his own bank account. LOL. (or at least out of his combined assetts)

So let me get this straight ... The Govt gives him several billion dollars to help out GM and then GM is going to put 26,000 people in the unemployment line to "cut costs". How does this help the economy again ???

Originally Posted by SQUALO

GM is asking for more money, and claiming it's part of the restructuring plan. Then why are they going to close 5 plants in the U.S.?
I think the extra money is so that bonehead, Wagner, can continue to receive his bonuses...that's where they should start the cutbacks. Cut off every CEO bonuses and see how many jobs you can save.

If they don't do this they close ALL of the plants. Because they burn through the money AND file Chapter 11 or worse 7. If people were buying twice the cars they are now it would be fine but they've been making Milions more cars than people were buying anyway. Now half of that many are being bought. Can you say Saturation.

Originally Posted by XanthosV6

Ok - here's the numbers, since Wagoner became CEO. If you don't want to read through them all, the main point is that GM has been cutting costs steadily since Wagoner became CEO, with only 1 year as an exception. Q4 earnings for 2008 haven't been posted yet that I can find - if somebody else knows them, feel free to send them to me and I'll update this post accordingly. For those who want to know why I included two average unit costs, the first is the cost for the year in question (say, 2004 for example) and the second is that price adjusted to 2001 levels, so inflation is not a variable.

Year - Total Costs - Total Global Sales - Average Unit Cost - Adjusted Unit Cost

2001 - 175.8 billion - 8.1 million - 21,794 - 21,794
2002 - 185.1 billion - 8.7 million - 21,276 - 20,943
2003 - 183.8 billion - 8.6 million - 21,372 - 20,571
2004 - 189.4 billion - 8.99 million - 21,068 - 19,749
2005 - 196 billion - 9.17 million - 21,374 - 19,379
2006 - 204.8 billion - 9.09 million - 22,530 - 19,786
2007 - 178.9 billion - 9.37 million - 19,093 - 16,303


Any questions?
- Xanthos

That was 31 min. 10 min. under budget. Awesome.

Originally Posted by CamaroScotty

Scotty for President????

+1