Not Good, GM wants another 16 or is it 9 Billion to Survive.

[GrnMchin]

Originally Posted by Hylton

This will have to be one of GM's biggest jobs - educate the public. Market the products like never before and offer 7 to 10 year warranties which are government backed. There is a way to do this successfully.

Yes I'm with you education is the key along with products that back it up, but a big uphill climb. I have been trying to educate people I work with, but they seem to be stuck in the past and don't want to give the US brands a fair shake.

Good stuff got to go.

[Mr. Wyndham]

For all the benefits, and I DO acknowledge those benefits......I still would not risk going Chapter 11 unless guaranteed that the company will come out the other side and not shunted into the Chapter 7 waiting line.

They can do everything with loans and time that bankruptcy will do for them...and it'll be done minus the negative stigma and looming risk of a Chpt. 7 filing because "oops, we didn't figure it'd be this bad...".

Also -- nobody's mentioned this (I don't think), don't believe that bankruptcy will be somehow more financially responsible to the taxpayer...Quite the opposite. It will take MORE money, on the order of hundreds of billions to revamp GM the way some of you are talking.....and those won't be loans.:(

[Hylton]

Originally Posted by Dragoneye

Also -- nobody's mentioned this (I don't think), don't believe that bankruptcy will be somehow more financially responsible to the taxpayer...Quite the opposite. It will take MORE money, on the order of hundreds of billions to revamp GM the way some of you are talking.....and those won't be loans.:(

It won't be tax dollars either.

[Mr. Wyndham]

No? Asian loans? That's better...we get to pay those back indirectly through taxation sometime in the next 100yrs....At least we've got time.

[UCF w00t]

Originally Posted by Supermans

And you want that power that GM currently has of putting a plan together to be taken away? Because that is what Obama's auto panel and yet to be appointed auto czar is going to do if another bailout is granted and GM signs themselves even further away into Government control. You argue that what GM is essentially asking for is a bankruptcy without the stigma of it being called a bankruptcy at the cost of giving away their company's freedom. I guess that worked out well when the Government took control of Fannie and Freddie Mac and made real smart decisions there.. I don't buy the argument that nobody will buy Chevy or GM brands if they file for Chapter 11.. I think the majority of people would be relieved that the Legacy costs and Union control and wages would be gone so that the company can finally compete with the other car manufacturers. And what makes you think all of us pure and true blooded Americans of all races and creeds are going to jump ship and buy Toyota and Nissan because of a bankruptcy. You have little faith in America my friend if you think that. I certainly would still continue to proudly buy American and I would imagine this would wake even more Americans up..

Huh? It won't be taken away. The current situation will remain. They are giving up the same freedom, as you say, with or without chapter 11. Actually the mess with franny and freddie happened while the government didn't control them. Obama decided against the car czar a few days ago. The union control will not change for the better under chapter 11. Yea, the contract will be torn up but they'll get a whole new contract. There are very few people in this country that hold your sentiment about "jumping ship." Most people want the best car for the money and don't hold any loyalty to the big 3. If there is risk that their warranty will be useless, real or perceived, it will have a dramatic impact on sales. This has nothing to do with my "faith in America", of which I have a great deal, but the fact that people don't hold loyalty to GM. The average american doesn't care if GM goes away entirely. They don't see the impact that it would have on all industries and the entire economy of this country.

[Vash]

Gah.. just hurry up and start the line and get rid of some of the other models.

The brand new GM light truck just got horrible side impact scores. How is that possible with modern design?

[Design1stCode2nd]

Unless the management and culture of GM NA is changed dramatically no amount of money is going to help. There are really bright and passionate people working for GM but they are stuck in a culture that doesn't tolerate dissent or new ideas and long term thinking. They are always looking for the next big thing or a moonshot.

Give GM the 16 bil they are asking for and I'll bet you they will be back in 9 months for more when car sales hit 9m/yr in NA when they expected 10m/yr.

I've said all along they need chapt. 11 with DIP financing. Sure it will cost more but in the long run it will cost less and you should have a profitable class leading company again.

Look at what Ford has done by just changing some of the leadership and being open to changing the culture.

[Georgie]

slap a tariff on the camary and accord. can't afford them? too bad, the fusion and malibu are better anyway. i'm not saying that is a good idea but that's what they do to american cars abroad; maybe its time for payback.

[Supermans]

Originally Posted by Design1stCode2nd

Unless the management and culture of GM NA is changed dramatically no amount of money is going to help. There are really bright and passionate people working for GM but they are stuck in a culture that doesn't tolerate dissent or new ideas and long term thinking. They are always looking for the next big thing or a moonshot.

Give GM the 16 bil they are asking for and I'll bet you they will be back in 9 months for more when car sales hit 9m/yr in NA when they expected 10m/yr.

I've said all along they need chapt. 11 with DIP financing. Sure it will cost more but in the long run it will cost less and you should have a profitable class leading company again.

Look at what Ford has done by just changing some of the leadership and being open to changing the culture.

It will cost more at first but in the long term it will cost a whole lot less and we'll have a competitive GM that can claim the top spot in sales once more..

[Emjay]

forgein car tariff would be a really good idea i think. Especially if you want a prius there needs to be a tax for subjecting people to its hideousness on the road!

Wat happend to reganomics? =(

[Hylton]

Originally Posted by Emjay

forgein car tariff would be a really good idea i think. Especially if you want a prius there needs to be a tax for subjecting people to its hideousness on the road!

Wat happend to reganomics? =(

So then you won't mind if China does the same with Buick?

[Georgie]

this is my question: Don't they already?! aren't these countries already screwing us w/ tariffs?

[Emjay]

No of coarse not, as long as canada does not with the camaro

[Hylton]

Originally Posted by Emjay

No of coarse not, as long as canada does not with the camaro

Well you can't say putting up tarrifs in the US will work and not expect foreign countries to retaliate.