GM Feebly Wards off Bankruptcy with layoffs of 30,000

[Boris Godunov]

Originally posted by faded glory
edited. No saturn is Honda's arch nemesis. Keep it. Cheap, reliable, mod-able.

Think Redline....Vrooom. Saturns going places.

As an aside, my roommates and I watch that Police Videos show every evening, almost. I think of you whenever we do.

[DanS]

General Motors is slowly becoming a healthcare and pension management company that does cars on the side

Yup yup.

[faded glory]

Originally posted by Boris Godunov




As an aside, my roommates and I watch that Police Videos show every evening, almost. I think of you whenever we do.

heh

I have 2 DUI's. If you see an rusty F-150 from 97 or a 2000 Mercury Cougar ;-)

Or a guy hauling quarters. Dont rememeber a camera tho.

Both times I was playing "I'de die for you" bye Candlebox. I joked with the cop about that.

[Dinner]

This will cut the manufacturing capacity in North America by 1 million vehicles per year.

[JohnT]

The truly sad thing is that Roger Smith, GM CEO in the 1980's (the Roger and Me guy) spent over $45 billion in automation and Saturn development over the course of his tenure. For that same amount of money, given their then (1986) market capitalizations and adding a 40% premium, GM could have bought Toyota and Nissan.

[Az]

That is truly sad, John, and quite amazing!

talk about bad decision making.

[Az]

Btw, I don't really get the complaints against the workers - It's pretty clear that the problem with american cars and GM's cars is reliability, and having a multitude of designs and models - not uncompetitive prices. Sounds to me like this is the direct result of dodgy management.

[Sikander]

Originally posted by Boris Godunov


Should they ditch Saturn? As I understand it, Saturn is actually fairly successful compared to the rest of GM's line. I know I like my Saturn.

Me too, although the interior sucks and it is over 10 years old. More recent models (like my girlfriend's) don't seem to be made as well.

[mrmitchell]

Originally posted by JohnT
The truly sad thing is that Roger Smith, GM CEO in the 1980's (the Roger and Me guy) spent over $45 billion in automation and Saturn development over the course of his tenure. For that same amount of money, given their then (1986) market capitalizations and adding a 40% premium, GM could have bought Toyota and Nissan.

Yeah, but you gotta consider the odds that they would've just ran Toyota into the ground if they did buy it.

[JohnT]

Originally posted by Az
Btw, I don't really get the complaints against the workers - It's pretty clear that the problem with american cars and GM's cars is reliability, and having a multitude of designs and models - not uncompetitive prices. Sounds to me like this is the direct result of dodgy management.

It's a combination of a lot of things, including the two that you mentioned. Sorta like the blind man at the elephant, GM's collapse can be viewed many ways.

[Dinner]

GM needs an outsider like Ghosn instead of the inbreed do the same thing we've always done corporate lifers they've always used. Their current problems really aren't a mystery since they've starved their car line up for decent product so they can concentrat on gas guzzling SUVs and trucks. They ignored hybreeds for the last decade when Toyota and Honda were busy developing the technology because of GM's "the next quarter results are the only results which matter" type thinking.

Nissan turned around a much worse position but it took an outsider with a fresh approach to do it along with a lot of money to invest in new products. I can't believe Wagoner kept his job after all the years of disappointing results and the FIAT debockle.

[JohnT]

Thing about that Fiat deal... Fiat originally wanted $3 billion, GM countered with $250 million. They settled at $2 billion.

on GM's negotiating team.

[Spiffor]

Oerdin:
Nissan has become Renault's biyatch in the process. Ghosn leading Nissan wasn't precisely a free decision on Nissan's part.

[Az]

on GM's negotiating team.

Shame on them for wanting to buy Fiat in any case. They have a car maker in trouble on their own. They hardly need an additional one on board.

[VetLegion]

I don't see FIAT going bankrupt. There's always the Italian state.

Az, how come Israel didn't try to develop an auto industry? It is compatible and supportive of military industries you are good at.