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Author Topic: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL  (Read 3949 times)

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Offline DumbAss Tanker

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #25 on: July 31, 2012, 10:05:38 AM »
Screwing the bondholders to benefit the unions, then turning over a huge share of the ownership to the unions, can't possibly turn out well.  The unions learned nothing from this exercise except that the Obama administration has their backs, but that can't make this pig fly.

I've only bought a new car a couple of times in my life, and don't expect to ever get another, in my experience they haven't proven any more trouble-free than a carefully-inspected used car (Though fixing the problems may be covered by warranty, I still lose use of the vehicle for just as long, and the work has to be done at a servicing dealership which would be pretty damned inconvenient for a GM product where I am), and they cost vastly more.  Ridiculously expensive, really.  So, it would be silly for me to say I'll never buy another new GM product, since I'm pretty unlikely to buy ANY new automotive product from a dealership.

I'd still consider a used GM product...well, one with a standard transmission.  GM engines seem to be a whole lot more long-lived than their automatic transmissions.
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Offline BlueStateSaint

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #26 on: July 31, 2012, 10:17:52 AM »
My brother works for a dealership group that has outlets here where I am, in the Greenwich CT area, and the West Palm Beach FL area.  19 dealerships in all.  He recently got a promotion, and one of his new duties is to track the flow of every dollar in the group--and spot trends, etc.  He also is privy to a whole bunch of info about just how good the various makes they sell, are in the real world.  His wife drives a Toyota Sienna minivan; he drives a Subaru Forester; my parents drive two different Toyotas; and my wife and I drive two different Toyotas.  There's a reason that none of us will get a GM product, even though they do sell them in a dealership or two.  Toyota and Subaru just make better stuff, for the applications that we use them for.  Now, the stigma of driving a "Government Motors" product is added to that.

ETA:  By buying an '09 RAV that had 47,000+ miles on it, I saved damn near $8,000 over a brand-new one.  I'll put a whole bunch of miles on it--I want it to get to 200,000 miles, at least.
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Offline Eupher

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #27 on: July 31, 2012, 10:24:35 AM »
Quote from: Undies on July 30, 2012, 09:24:02 PM
I went out of my way to not buy a GM product when car shopping last year.  I don't think I was the only one. 

Bingo.
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Offline Kyle Ricky

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #28 on: July 31, 2012, 10:52:14 AM »
When GM showed up at the congressional hearing in their private planes begging for money to pay off their unions, I gave up on them. They want to have a business that is run by the union (which is the cause of the mess they are in), then they aren't getting my business.

Note: Up till that hearing, I was a die hard GM fan. Not anymore. For now on I am sticking with Ford, and BMW thank you.
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Offline Lacarnut

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #29 on: July 31, 2012, 10:56:18 AM »
Rather than pay down their debt to us taxpayers, GM's record annual profits of $400 million was distributed to union employees to the tune of $7,000 each. What a rip off. 
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Offline obumazombie

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #30 on: July 31, 2012, 10:59:36 AM »
Quote from: Lacarnut on July 31, 2012, 10:56:18 AM
Rather than pay down their debt to us taxpayers, GM's record annual profits of $400 million was distributed to union employees to the tune of $7,000 each. What a rip off. 
How else is owebuma going to pay off his supporters ?
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Offline Kyle Ricky

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #31 on: July 31, 2012, 11:00:20 AM »
Quote from: Lacarnut on July 31, 2012, 10:56:18 AM
Rather than pay down their debt to us taxpayers, GM's record annual profits of $400 million was distributed to union employees to the tune of $7,000 each. What a rip off. 

Not to mention when they went public again, the unions got first dips on the IPO.
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Offline NHSparky

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #32 on: July 31, 2012, 11:00:32 AM »
Quote
Cadillac was down almost 25%.

Which is sad because their CTS is a really well made and shit-hot car.  But one model won't save GM.

And it's also why when I go looking for a full-sized truck after the Jeep is paid off, it's going to be Ford as first choice, Dodge second.  Chevy/GMC won't fit into my decision, nor will Toyota based on my horrible experience with them.
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Offline FiddyBeowulf

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #33 on: July 31, 2012, 11:42:14 AM »
Quote from: Lacarnut on Today at 10:56:18 am
Rather than pay down their debt to us taxpayers, GM's record annual profits of $400 million was distributed to union employees to the tune of $7,000 each. What a rip off. 

Quote from: obumazombie on July 31, 2012, 10:59:36 AM
How else is owebuma going to pay off his supporters ?
I think the expectation was those union people would funnel some of that money back to Obama and the DNC.
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Offline Airwolf

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #34 on: July 31, 2012, 04:01:22 PM »
I'm personally tired of seeing the unions drive any automaker out of business because they think the company should be giving away freebies and not making cars. When 5k of the vehicles price tag is there to cover the health care of some union good that makes anywhere from $20-$60+ per hour and they can't pay for their own insurance or health cost then that company doesn't deserve anyones business.

When I had my 1992 Camaro, the Camaro was sold at a base price of around 12-13k when the 1993 model came out the base price was 10K more and the car only got a design change but the cars size and options didn't radically change and neither did its performance. The unions are destroying the big 3 and it's time the car makers do what Winsconsin did and tell the union thugs to go pound sand.
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Offline njpines

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Re: GM STOCK HITS NEW LOWS, COMPANY IN TURMOIL
« Reply #35 on: July 31, 2012, 04:06:30 PM »
Have only owned Fords in my life -- well, except for the '79 Civic I bought from my SIL when I graduated college in '85.  I still wish I could fill the tank for a 5 spot like I could with that Honda  :bawl:
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