GM BANKRUPTCY/ COMPANY SPLIT

[AirGoya]

Sadly I hope this happens as well. Except I see no reason for GMC to exist. I dont know how much of a profit they make, if any at all. But not knowing that, my opinion is that GMC has no future. The companies to be in the "new" half should be Chevy, Cadillac and Buick.

[CurtG]

Well to be brutally honest....

Well if the workers, bond/share holders and anyone involved in making a profit with GM or any of the other American companies would accept more concessions they wouldn't need to go into bankruptcy. Making 12 dollars an hour more on the line than your competitions is just stupid business.

Seen a interview on the news about why all the parts for the Ford Fusion hybrid are made in the USA but its put together in Mexico....Fords answer? Because we can sell it for 31k if we put it together down there, where as we would have to sell it for 51k if we had American workers put it together.

This is not just a problem for GM it is a problem for every American Auto Company. Your competition is making extremely fuel efficient vehicles and doing it for hundreds possibly thousands less per hour than we can make a vehicle.

I understand that those of us on this site aren't worried about fuel efficiency for our vehicle. Guess what? Most other Americans ARE.

/rant off

[Vash]

But Curt that's a bit off as lot of people here are V6 fans / potential owners.

Really even the SS has good mpg compared to Trucks and SUV's. And they are low emissions vehicles with the most advanced safety features ever offered by GM.

That guy was full of **** about the fusion costing 20 more to build in USA. More but not that much. I saw that too it was like the post earlier about pulling numbers out of ass'es (very funny).

Unions do need to make some concessions.

[CurtG]

It may have been an exaggeration but it still shows a point. When Honda is putting together a Civic in the USA and their workers are only making 12-15 dollars an hour on average whereas GM is making a Cobalt, Impala, or any other vehicle would be paying their workers 25/hr or more there is a serious problem. Until that changes no American Car company can be viable.

As for the bond/share holders they made an investment and investments have risks....they shouldn't be getting any of their money back before the American tax payers. I am and have always been against all of these bailouts. Just think, if we had let them go bankrupt in the first place they'd already be restructured and we wouldn't have as much debt as we do now. Our children, their children and their childrens' children are going to be responsible for repaying those debts not us. I am not happy about someone putting that kind of debt on my 9 month old son. Especially when I had no say in it.

[Xmicro_SS]

If they would just get us all our Camaro's at an average of $30K that would be $420,000,000.00.......figure at a 10% profit margin....$42,000,000.00

Come on GM......Get us our Camaro's and we will sell more for you......think of it as rolling advertisements!

[Supermans]

So I take it the little GM emblem on the side of the Camaro might not be there if this happens..hmm..

[Blackwolf]

Originally Posted by CurtG

It may have been an exaggeration but it still shows a point. When Honda is putting together a Civic in the USA and their workers are only making 12-15 dollars an hour on average whereas GM is making a Cobalt, Impala, or any other vehicle would be paying their workers 25/hr or more there is a serious problem. Until that changes no American Car company can be viable.

As for the bond/share holders they made an investment and investments have risks....they shouldn't be getting any of their money back before the American tax payers. I am and have always been against all of these bailouts. Just think, if we had let them go bankrupt in the first place they'd already be restructured and we wouldn't have as much debt as we do now. Our children, their children and their childrens' children are going to be responsible for repaying those debts not us. I am not happy about someone putting that kind of debt on my 9 month old son. Especially when I had no say in it.

I see this as a problem also. Except I see it from a different position. Try to raise a family on $12 ~ $15 an hour. It's not necessarily that the US worker is OVERPAID, in my opinion, the foreign car worker is underpaid!

It's called a livable wage.

[dayvedayve]

Originally Posted by Blackwolf

I see this as a problem also. Except I see it from a different position. Try to raise a family on $12 ~ $15 an hour. It's not necessarily that the US worker is OVERPAID, in my opinion, the foreign car worker is underpaid!

It's called a livable wage.

Why does a civic cost more than a cobalt if the prople that put them together make almost half as much as their UAW conterparts?

[Redwolf20]

Originally Posted by dayvedayve

Why does a civic cost more than a cobalt if the prople that put them together make almost half as much as their UAW conterparts?

Supply and demand mostly but there is alot more involved in the cost of a car than just the cost of wages to make them.

[Redwolf20]

Originally Posted by Vash

Yea my suggestion is to consolidate to just Chevy and Caddy. Buick and Pontiac, GMC are dead weight.. just stickers and bumpers.

Bingo! My guess...Chevy and Caddy stay while the others get assimulated into the two. GMC options being offered on Silverados. We already heard that Pontiac is becoming a specialty of sorts. Hummer and Saturn bye-bye.

[CamaroScotty]

Oh, and this out of the IDL from Friday:

Top selling GM cars for March:

1. Chevy
2. Chevy
3. Chevy
4. Chevy
5. Chevy

Chevy will be staying.

[cam2fst4u]

Originally Posted by CamaroScotty

Oh, and this out of the IDL from Friday:

Top selling GM cars for March:

1. Chevy
2. Chevy
3. Chevy
4. Chevy
5. Chevy

Chevy will be staying.

Ok scotty what else was the news? or was it just the cgm thing?

[B2E2RUN]

Fbodfather had mentioned in the past the Buick is a cash-cow in asian markets. No Way that is going away!

[CanadianCamaro]

Originally Posted by Redwolf20

Supply and demand mostly but there is alot more involved in the cost of a car than just the cost of wages to make them.

Agreed - and lots of areas to "trim the fat" but - being an accountant, I know that the largest cost in nearly every business is payroll.

Originally Posted by Blackwolf

I see this as a problem also. Except I see it from a different position. Try to raise a family on $12 ~ $15 an hour. It's not necessarily that the US worker is OVERPAID, in my opinion, the foreign car worker is underpaid!

It's called a livable wage.

I respectfully agree and disagree with this point. GM (or any company) is not a welfare agency. They do not have an obligation to ensure that a major portion of the population can live comfortably. I know one thing for sure, and this is absolutely NOT meant to downplay to good work that the people on the line at GM do, but, if most people working the lines at ANY automaker were to go to another production company and work a similar job on a production line, say building refrigerators, they DEFINATELY would not be making anywhere near what they make working for the automakers. This goes for all the automakers - but GM and it's NA counterparts have it the worst. And while I personally don't believe in unions (remember, my personal position - not trying to convince others here) I believe they have a lot to do with this exorbitantly high cost. Not everything to do with it - but a lot. And I still struggle to understand how the unions/workers don't soon realize that they too are stakeholders in this situation, and like the investors and senior management etc etc and how can they ignore the fact that they need to take concessions to make this solution work. If they don't, they won't need to worry about pay cuts - because the company (or major parts of it) will cease to exist and they won't have jobs.

Remember, the views expressed by the typer are not necessarily those of.... well... anyone... or at least anyone intelligent.