GM expected to give a status report on the camaro by march 1

[CamaroScotty]

Seriously though, your tax dollars have been going to FAR WORSE things without your knowledge well before I was even born!

[Xanthos]

Originally Posted by CamaroScotty

Seriously though, your tax dollars have been going to FAR WORSE things without your knowledge well before I was even born!

Please join me in welcoming Scotty to the days of mass media - the internet, CNN, the telephone, Morse code; yea, even the light bulb!

All kidding aside, in recent years mass media HAS increased our knowledge of the the stupid stuff that politicians do - its not that they're doing more stupid stuff.

That said, I think the auto industry bailout was a 100% good move on the part of congress - better than the crap they pulled with the bailout of the financial sector.
- Xanthos

[Hylton]

Without getting into it, there's a hell of a lot more to running a successfull car company then controlling unit cost and coming up with good car designs.

[Xanthos]

Originally Posted by Hylton

Without getting into it, there's a hell of a lot more to running a successfull car company then controlling unit cost and coming up with good car designs.

I was just replying to the post about GM not being able to cut costs.

The point is that they have been cutting costs AND improving quality all at the same time.
- Xanthos

[Hylton]

Originally Posted by XanthosV6

I was just replying to the post about GM not being able to cut costs.

The point is that they have been cutting costs AND improving quality all at the same time.
- Xanthos

Yes they have. I think the design and production have their act together but everything else at GM is a nightmare.

[CamaroScotty]

Scotty for President????

[Mr. Wyndham]

Originally Posted by Caliman93230

Since I'm going to be taxed to give GM another opportunity for viability, I'm expecting a full status report on the camaro by march 1.

They're called loans...indicating a repayment. Do you expect to get checks in the mail as GM pays the loan back? No? Then you're not getting taxed for it to begin with....

As for the 'status' report...don't hold your breath.


And then to the remark about "more bailout money"...Congress KNEW (and we should have too) that they'd be back for more loans. The money that the President lent them last year were designed ONLY to hold them over till March. The theory was to put them on hold for a bit, and give the next president a little breathing room before he had to deal with it. This is not new. The plan was, all along, to come back for more.

[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