Breaking news about GM.
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Joined: Jan 1999
Posts: 1,547
From: Panhandle of West Virginia
Re: Breaking news about GM
And also cutting another 7% of salaried workers on top of that by the end of next year. He also said this:
Wagoner said the cuts were what the troubled automaker needed to turn around its operations but he wasn't ready to predict when GM will return to profitability. He also wouldn't promise this would be the end of job cuts and plant closings.
"As we sit here today, it's our best guess and well thought out analysis," Wagoner said.. "If we've learned anything in the last five years, it's that there's no guarantees in this business or any other business."
"As we sit here today, it's our best guess and well thought out analysis," Wagoner said.. "If we've learned anything in the last five years, it's that there's no guarantees in this business or any other business."
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Joined: Oct 2004
Posts: 509
From: Modesto, CA
Re: Breaking news about GM
This isn't the same news we've been hearing about for the past month or two? The CE of C&D was on MSNBC a while ago and said this was mostly the retiree's and all that. I thought we knew about that already.
Jim Kramer and Pat Buchanon on MSNBC just had a little debate on who's fault the job cuts are. Pat was saying it is the result of globalization and free trade that shouldn't be free, and Jim was saying it's managements fault for not finding a way to beat the import companies in the market over the years. I thought that they both had some valid points, but Jim Kramer made himslef look like an idiot by screaming and interupting everything that Buchanon tried to say. It was pretty entertaining.
Jim Kramer and Pat Buchanon on MSNBC just had a little debate on who's fault the job cuts are. Pat was saying it is the result of globalization and free trade that shouldn't be free, and Jim was saying it's managements fault for not finding a way to beat the import companies in the market over the years. I thought that they both had some valid points, but Jim Kramer made himslef look like an idiot by screaming and interupting everything that Buchanon tried to say. It was pretty entertaining.
Last edited by MarineReconZ28; Nov 21, 2005 at 03:19 PM.
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Joined: Mar 2001
Posts: 13,713
From: The Golden State
Re: Breaking news about GM.
Nothing here should surprise anyone.
Wagoner made it clear for the past 6 months that there would be some serious plant closings, and not more than 3 months ago GM pegged layoffs over 25K.
No, this doesn't affect Camaro or Chevy's sedan.
Monte Carlo doesn't seem to destined to remain in production very long.
If I were a betting man, I'd bet on Grand Prix dying before Lecrosse. I'm guessing Impala and Lecrosse would go together though.
I see alot of very good news in this (as far as future products go).
1. SOMETHING has to replace the "W" cars. If these cars are dropping in 2008, that means something is replacing them in 2009.
2. This means GM will have more money to bring out these new products.
3. GM is finally going to discover flexible manufacturing. Alot of the replacements to these discontinued models will be made along side other models, or at least in the same plant.
4. Finally.... GM just spent ALOT of money at Oshawa. Anyone seriously thinking it's going to close?
Wagoner made it clear for the past 6 months that there would be some serious plant closings, and not more than 3 months ago GM pegged layoffs over 25K.
No, this doesn't affect Camaro or Chevy's sedan.
Monte Carlo doesn't seem to destined to remain in production very long.
If I were a betting man, I'd bet on Grand Prix dying before Lecrosse. I'm guessing Impala and Lecrosse would go together though.
I see alot of very good news in this (as far as future products go).
1. SOMETHING has to replace the "W" cars. If these cars are dropping in 2008, that means something is replacing them in 2009.
2. This means GM will have more money to bring out these new products.
3. GM is finally going to discover flexible manufacturing. Alot of the replacements to these discontinued models will be made along side other models, or at least in the same plant.
4. Finally.... GM just spent ALOT of money at Oshawa. Anyone seriously thinking it's going to close?
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Joined: Aug 1998
Posts: 854
From: neverneverland
Re: Breaking news about GM.
Originally Posted by guionM
Nothing here should surprise anyone.
Wagoner made it clear for the past 6 months that there would be some serious plant closings, and not more than 3 months ago GM pegged layoffs over 25K.
No, this doesn't affect Camaro or Chevy's sedan.
Monte Carlo doesn't seem to destined to remain in production very long.
If I were a betting man, I'd bet on Grand Prix dying before Lecrosse. I'm guessing Impala and Lecrosse would go together though.
I see alot of very good news in this (as far as future products go).
1. SOMETHING has to replace the "W" cars. If these cars are dropping in 2008, that means something is replacing them in 2009.
2. This means GM will have more money to bring out these new products.
3. GM is finally going to discover flexible manufacturing. Alot of the replacements to these discontinued models will be made along side other models, or at least in the same plant.
4. Finally.... GM just spent ALOT of money at Oshawa. Anyone seriously thinking it's going to close?
Wagoner made it clear for the past 6 months that there would be some serious plant closings, and not more than 3 months ago GM pegged layoffs over 25K.
No, this doesn't affect Camaro or Chevy's sedan.
Monte Carlo doesn't seem to destined to remain in production very long.
If I were a betting man, I'd bet on Grand Prix dying before Lecrosse. I'm guessing Impala and Lecrosse would go together though.
I see alot of very good news in this (as far as future products go).
1. SOMETHING has to replace the "W" cars. If these cars are dropping in 2008, that means something is replacing them in 2009.
2. This means GM will have more money to bring out these new products.
3. GM is finally going to discover flexible manufacturing. Alot of the replacements to these discontinued models will be made along side other models, or at least in the same plant.
4. Finally.... GM just spent ALOT of money at Oshawa. Anyone seriously thinking it's going to close?
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Joined: Jun 2000
Posts: 1,215
From: Coppell, Texas
Re: Breaking news about GM.
I'm betting that the Trailblazer and its clones will be gone for good once the plants close (i.e. no replacements). I would imagine that the new line of cross-overs will bridge the gap between the fullsize suv's and the compact ones.
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Joined: Nov 2000
Posts: 1,440
From: five-one-oh/nine-oh-nine
Re: Breaking news about GM.
"We have said consistently that General Motors cannot shrink itself to prosperity. In fact, shrinking General Motors only exacerbates its problems," UAW President Ron Gettelfinger and Vice President Richard Shoemaker said in a joint statement. "Unfortunately, it is workers, their families and our communities that are being forced to suffer because of the failures of others," they added. (Full story).
which brings me to my question about the UAW contract... how is GM to save money with this job cutting action? isn't the contract still good until 2007? what about the jobs bank? that should be the very first thing to go if they're making cut backs on active workers...
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