Just came across the Blaze-Could GM go Bankrupt again?

[meissen]

Originally Posted by Kiss My SS

Maybe since you think you know so much then you should work for the Blaze and then put out something positive.

Facts are this, ive owned GM and Ford products since the late 70's and I own a SS right this very minute and proud of it. So I am not "bashing" anyone and as for you, if you dont like my post then dont read it

Being that I'm a GM employee myself, I feel very passionately for the company I work for. This is the second thread you've posted where it's negative "news" about GM that's unfounded hype news meant to stir the pot. All it takes is a little thought to realize the Blaze's article is bunk.

For example - Would a company spiraling into bankruptcy be posting net profits quarter after quarter? Of course not.

[Kiss My SS]

Originally Posted by meissen

Being that I'm a GM employee myself, I feel very passionately for the company I work for. This is the second thread you've posted where it's negative "news" about GM that's unfounded hype news meant to stir the pot. All it takes is a little thought to realize the Blaze's article is bunk.

For example - Would a company spiraling into bankruptcy be posting net profits quarter after quarter? Of course not.

This might be the 100th post ive put up about this. Im not breaking any rules, Im not bashing anyone especially GM. So I suppose since your a GM employee you dont see their stock is dropping as well as market share and for the US Govt to even break even on their loan to GM the stock has to be at $49, do you know that? And do you know that the US Govt holds the most shares of GM stock so they dictate to you?

Im not saying anything to bash anyone, its just a sad state that GM has put itself in and have let the unions basically ruin a great company.

[Kiss My SS]

Originally Posted by sprtplt

Bankruptcy does not mean "go out of business". It means they would reorganize, so a proper bankruptcy would be the best thing for GM. It would allow all union contracts to be voided and re-negotiated, something that did not happen with the prior fakeruptcy, illegal, shaft-legitimate-debt-holders Obama deal.

Break the Union and GM will THRIVE!

[meissen]

It's public knowledge so here's some facts to consider:

GM regained #1 manufacturer status recently (and already lost it), but even while it was #1, it was further down in the standings for profitability. What good is it being #1 in manufacturing if your profit margins are so small? Auto manufacturers that are a fraction of the size of GM had higher net profits than GM... that shows that we're doing something wrong.

Because of that, GM's new strategy is to not offload vehicles to the rental and fleet sales. Offloading vehicles like that devalues them, floods the market.

So yes - GM has lost market share... because it's not flooding the market by offloading their vehicles to rental and fleet sales at cut throat pricing. That's what got the "old" GM into the mess that caused the bankruptcy last time. The "who cares if we off load these cars to XYZ Rental at a $5 loss per unit as long as we're the #1 manufacturer" mentality doesn't fly anymore. In the meantime, all that people see is "less marketshare" or "no longer the #1 manufacturer" but they don't realize that it's because GM is actually following a positive strategy for once.

And yes - stocks are sliding, there's no denying that. I honestly have no clue why. It boggles my mind. GM posts record profits and the stocks decline. GM posts sales higher than expectations, the stock declines. Frankly, the anti-GM sentiment that the rest of the country has because of the bankruptcy and US Government *loan* just seems to put the odds against us. And that's where it's frustrating - the rest of the country wants General Motors to fail. Look at the responses in this thread already. If GM fails, then it really is the US taxpayers that are out all that money. But if GM prospers, if GM's stock actually were to go up enough, the US government could cash out of that stock ownership at a profit. It's VERY slim odds of that happening, but it's the stock market and anything's possible, right?

And that's where I sit here dumbfounded when I see these threads and replies. It's our tax payer money. We should be doing everything we can to cheer GM on. To do better. To make better cars than the rest. To sell at higher profits. To be the #1 auto company. We're all invested in GM whether some like it or not, if we got the stock prices high enough the US Government could cash out and it'd no longer be "Government" Motors.

[jmontalvo]

Ibtl?

[DRKS1D3]

Originally Posted by Kiss My SS

Break the Union and GM will THRIVE!

+100 This is coming from somebody who's entire family is Union (Pittsburgh Steel Workers, PA Police and Teachers). Unions are a load of bull. They were implemented during the Industrial Revolution to help get fair wages/safe work environments for the Steel Workers and Coal Miners that were making peanuts for risking their lives everyday of the week (good idea at the time ). They have now spawned into a money grubbing horde of goons. Smoking pot on the job? Don't worry, the Union will come to bat for you. Don't show up for work 2-3 days a week? Don't worry, the Union will come to bat for you. Come to work, but don't do a damn thing? Don't worry, the Union will come to bat for you. When there is absolutely 100% no risk of being fired, there is absolutely 100% no reason to give 100% at work. Let people know if certain criteria isn't met at work and they will be punished or terminated...they will give 100% FYI: My wife is a teacher (8 years now). One of her colleagues decided the job was too stressful and needed some time off (3 months all paid). She came back and still said it was too stressful and needed more time off (8 months all paid). In the meantime, it was found out she was taking Carribbean vacations and other nonsense all while still collecting a paycheck. It still took the school district 1 year of fighting with the Union before she was able to be fired!!! Unions want the employees' money from the dues and they don't give a sh1t about the job they are or aren't doing for that matter. Carry on...

[nyrfan]

Originally Posted by meissen

Don't worry - they THINK they got the $7,500 credit... but just wait until tax time when the IRS comes knocking.

This!

[Kiss My SS]

Originally Posted by meissen

It's public knowledge so here's some facts to consider:

GM regained #1 manufacturer status recently (and already lost it), but even while it was #1, it was further down in the standings for profitability. What good is it being #1 in manufacturing if your profit margins are so small? Auto manufacturers that are a fraction of the size of GM had higher net profits than GM... that shows that we're doing something wrong.

Because of that, GM's new strategy is to not offload vehicles to the rental and fleet sales. Offloading vehicles like that devalues them, floods the market.

So yes - GM has lost market share... because it's not flooding the market by offloading their vehicles to rental and fleet sales at cut throat pricing. That's what got the "old" GM into the mess that caused the bankruptcy last time. The "who cares if we off load these cars to XYZ Rental at a $5 loss per unit as long as we're the #1 manufacturer" mentality doesn't fly anymore. In the meantime, all that people see is "less marketshare" or "no longer the #1 manufacturer" but they don't realize that it's because GM is actually following a positive strategy for once.

And yes - stocks are sliding, there's no denying that. I honestly have no clue why. It boggles my mind. GM posts record profits and the stocks decline. GM posts sales higher than expectations, the stock declines. Frankly, the anti-GM sentiment that the rest of the country has because of the bankruptcy and US Government *loan* just seems to put the odds against us. And that's where it's frustrating - the rest of the country wants General Motors to fail. Look at the responses in this thread already. If GM fails, then it really is the US taxpayers that are out all that money. But if GM prospers, if GM's stock actually were to go up enough, the US government could cash out of that stock ownership at a profit. It's VERY slim odds of that happening, but it's the stock market and anything's possible, right?

And that's where I sit here dumbfounded when I see these threads and replies. It's our tax payer money. We should be doing everything we can to cheer GM on. To do better. To make better cars than the rest. To sell at higher profits. To be the #1 auto company. We're all invested in GM whether some like it or not, if we got the stock prices high enough the US Government could cash out and it'd no longer be "Government" Motors.

I could have never said it better!

[ShowSStopper]

Originally Posted by meissen

Oh yay, another factless report by a biased media outlet making widespread assumptions. Glad to see websites like that still don't have any idea what they're talking about. Yes, GM's stock is down compared to the IPO... but to make the leap to say it's going bankrupt again is just absurd.

Furthermore - GM coming out with vehicles that are noncompetitive? Wow - how ignorant is that? One look at the ATS and we know the Blaze's noncompetitive claim is debunked. And that's ignoring the fact that the Camaro has been highly successful since launch.


Edit: Weren't you the same guy who posted some other stupid article bashing GM before? Why do you fall for these articles every time and then post them here? If you're so anti-GM, go buy a Toyota.

Damn...take it easy dude. WTF? He just posted an article he read...its not like he wrote it. And even if he had, so what? It's not bashing...its telling the FACT that GM is not in the position they should be in at this point and there is a real threat of another bailout. So?

People take this stuff so seriously. Is it your company? Do you have a ton of GM stock or something and this news makes you nervous?

No company on the planet will always have good times. BUT, I dont feel the bailout helped GM bc they are still operating in the same dinosaur fashion they always have. If they managed to lose all their money once, why do you not believe they could again?

Yes, the Camaro has been successful. But do you think they are spending the same as they did right after the bailout? No. The "We're bulletproof!" mentality is back at corporate headquarters and that weak foundation is starting to show cracks.

Be careful what you ask for when referring people to go to other brands if they don't like GM. They already did once, and it crippled GM to its knees. The attitude of "if you don't like it, buy somewhere else" is still ever present at GM, and people are finally starting to take that advice and vote with their dollars. And thats bad.

I hope GM changes ways and routes a different course. I dont feel the one they are on will allow the company to survive personally.

We all have different opinions. Why not respect them without insulting each other?

[Kiss My SS]

Originally Posted by DRKS1D3

+100 This is coming from somebody who's entire family is Union (Pittsburgh Steel Workers, PA Police and Teachers). Unions are a load of bull. They were implemented during the Industrial Revolution to help get fair wages/safe work environments for the Steel Workers and Coal Miners that were making peanuts for risking their lives everyday of the week (good idea at the time ). They have now spawned into a money grubbing horde of goons. Smoking pot on the job? Don't worry, the Union will come to bat for you. Don't show up for work 2-3 days a week? Don't worry, the Union will come to bat for you. Come to work, but don't do a damn thing? Don't worry, the Union will come to bat for you. When there is absolutely 100% no risk of being fired, there is absolutely 100% no reason to give 100% at work. Let people know if certain criteria isn't met at work and they will be punished or terminated...they will give 100% FYI: My wife is a teacher (8 years now). One of her colleagues decided the job was too stressful and needed some time off (3 months all paid). She came back and still said it was too stressful and needed more time off (8 months all paid). In the meantime, it was found out she was taking Carribbean vacations and other nonsense all while still collecting a paycheck. It still took the school district 1 year of fighting with the Union before she was able to be fired!!! Unions want the employees' money from the dues and they don't give a sh1t about the job they are or aren't doing for that matter. Carry on...

Unions have overstayed their welcome....lol

[Kiss My SS]

Originally Posted by ShowSStopper

Damn...take it easy dude. WTF? He just posted an article he read...its not like he wrote it. And even if he had, so what? It's not bashing...its telling the FACT that GM is not in the position they should be in at this point and there is a real threat of another bailout. So?

People take this stuff so seriously. Is it your company? Do you have a ton of GM stock or something and this news makes you nervous?

No company on the planet will always have good times. BUT, I dont feel the bailout helped GM bc they are still operating in the same dinosaur fashion they always have. If they managed to lose all their money once, why do you not believe they could again?

Yes, the Camaro has been successful. But do you think they are spending the same as they did right after the bailout? No. The "We're bulletproof!" mentality is back at corporate headquarters and that weak foundation is starting to show cracks.

Be careful what you ask for when referring people to go to other brands if they don't like GM. They already did once, and it crippled GM to its knees. The attitude of "if you don't like it, buy somewhere else" is still ever present at GM, and people are finally starting to take that advice and vote with their dollars. And thats bad.

I hope GM changes ways and routes a different course. I dont feel the one they are on will allow the company to survive personally.

We all jave different opinions. Why not respect them without insulting each other?

I agree, I didnt start the thread to get blasted, I just reported what I read whether its good or bad but personally I wished there was good news to report moreso than this

[meissen]

Originally Posted by ShowSStopper

Damn...take it easy dude. WTF? He just posted an article he read...its not like he wrote it. And even if he had, so what? It's not bashing...its telling the FACT that GM is not in the position they should be in at this point and there is a real threat of another bailout. So?

People take this stuff so seriously. Is it your company? Do you have a ton of GM stock or something and this news makes you nervous?

No company on the planet will always have good times. BUT, I dont feel the bailout helped GM bc they are still operating in the same dinosaur fashion they always have. If they managed to lose all their money once, why do you not believe they could again?

Yes, the Camaro has been successful. But do you think they are spending the same as they did right after the bailout? No. The "We're bulletproof!" mentality is back at corporate headquarters and that weak foundation is starting to show cracks.

Be careful what you ask for when referring people to go to other brands if they don't like GM. They already did once, and it crippled GM to its knees. The attitude of "if you don't like it, buy somewhere else" is still ever present at GM, and people are finally starting to take that advice and vote with their dollars. And thats bad.

I hope GM changes ways and routes a different course. I dont feel the one they are on will allow the company to survive personally.

We all jave different opinions. Why not respect them without insulting each other?

To the OP - Sorry if I came off too strongly, again - being a GM employee, I feel very passionate about the company I work for. I take these threads very seriously because it usually turns into everyone jumping in here and bashing GM. That's what happened in multiple threads I've seen posted on this site - which amazes me since we're all here because of our passion for a GM vehicle.

That said - I can say that at least in my area of the corporate headquarters, the old mentality is slowly but surely going away, not coming back. Can't speak for the engineering or other areas, but my area we're definitely not staying the same as the "old" GM.

[Fiftydriver]

If they do not get the unions under control, its inevitable......:(

[Kiss My SS]

Originally Posted by Fiftydriver

If they do not get the unions under control, its inevitable......:(

Someone should do what Ronald Reagan did to the traffic controllers union back in the 80's. I would break the back of those unions one way or another.