The General Might Die?
Registered User
Joined: Nov 2000
Posts: 2,712
From: Ontario
Re: The General Might Die?
Originally Posted by guionM
Another thing to think about. What if GM DID crash? 
It would probally be enough to throw North America into a depression (not a recession) because of all the industries that are directly or indirectly related to the domestic car business, and GM is still something like a third of that. But with a company with as many divisions and subsidaries throughout the world as GM, I'd suspect GM would start spinning off parts of itself before it would crash.
It would probally be enough to throw North America into a depression (not a recession) because of all the industries that are directly or indirectly related to the domestic car business, and GM is still something like a third of that. But with a company with as many divisions and subsidaries throughout the world as GM, I'd suspect GM would start spinning off parts of itself before it would crash.
Anyhow, that article is full of half truths. Yes, GM has around $200B in debt, but something like $175B of that is GMAC's debt which for the most part is secured against mortgages and autos. The car business itself has but fraction of that.
As for the pensions, they are no longer a problem. GM fully funded them last year and revised the accounting of their obligations to be more conservative. Health care is probably a bigger worry at this point.
GM carries over $20B in cash and liquid assets. Companies go bankrupt because they run out of cash, not because their sales fall, their profits fall, or their market share falls. With Devine looking after the books, I don't think that's a danger.
Registered User
Joined: Mar 2003
Posts: 239
From: Caledon Ont Canada
Re: The General Might Die?
I walked into one of the largest GM dealers in my area a few months ago, chevy as American as apple pie my ***.
The place stunk of Dawoo, full of Dawoo.
I forgot to mention all the super ugly domestic's
No wonder all the guys I know that work in GM shops on flat rate wages have dropped like 30%.
Die no but they sure are sick
John
The place stunk of Dawoo, full of Dawoo.
I forgot to mention all the super ugly domestic's
No wonder all the guys I know that work in GM shops on flat rate wages have dropped like 30%.
Die no but they sure are sick
John
Registered User
Joined: Jun 2001
Posts: 4,600
From: Pewee Valley, KY
Re: The General Might Die?
Originally Posted by john35thss
I walked into one of the largest GM dealers in my area a few months ago, chevy as American as apple pie my ***.
The place stunk of Dawoo, full of Dawoo.
I forgot to mention all the super ugly domestic's
No wonder all the guys I know that work in GM shops on flat rate wages have dropped like 30%.
Die no but they sure are sick
John
The place stunk of Dawoo, full of Dawoo.
I forgot to mention all the super ugly domestic's
No wonder all the guys I know that work in GM shops on flat rate wages have dropped like 30%.
Die no but they sure are sick
John
So if you think that the J car should have continued just so we could have a cheap American made small car then you are nuts.
Disciple
Joined: Nov 2000
Posts: 1,479
Re: The General Might Die?
Originally Posted by 91_z28_4me
Chevy has 1 Daewoo vehicle in its line-up, the Aveo.
We have 3 Koreans Chevies in our showrooms, Aveo, Optra (sedand & 5 door) and Epica. The saddest part is that outside of the Corvette, they are also the 3 best looking cars in Chevy showrooms.
Registered User
Joined: Oct 2000
Posts: 2,402
From: Toronto, ON Canada
Re: The General Might Die?
Originally Posted by 91_z28_4me
Chevy has 1 Daewoo vehicle in its line-up, the Aveo. And despite the fact it is made overseas and it sells for around $10K it still makes some decent profit, as opposed to the last gen Cavalier which GM lost money on despite it not having as much interior space, as nice of an interior, or quite as good fit and finish.
So if you think that the J car should have continued just so we could have a cheap American made small car then you are nuts.
So if you think that the J car should have continued just so we could have a cheap American made small car then you are nuts.
Banned
Joined: Mar 2002
Posts: 1,954
Re: The General Might Die?
Originally Posted by guionM
Another thing to think about. What if GM DID crash?
Originally Posted by guionM
It would probally be enough to throw North America into a depression (not a recession) because of all the industries that are directly or indirectly related to the domestic car business, and GM is still something like a third of that.
Originally Posted by guionM
But with a company with as many divisions and subsidaries throughout the world as GM, I'd suspect GM would start spinning off parts of itself before it would crash.
Originally Posted by guionM
Perhaps in some alternate universe General Motors is nothing but Chevrolet Trucks, Cadillac, GM-China, and Holden.
Registered User
Joined: Sep 2001
Posts: 2,030
From: Frankfort, KY U.S.A.
Re: The General Might Die?
A 16% drop in sales is not that bad, considering coming off record sales from the last previous months. GM will be around for a long time to come, unless Wal-Mart buys them out
Registered User
Joined: Dec 1969
Posts: 1,911
From: Southern California (SoCal)
Re: The General Might Die?
GM has had record sale for over the last 5 years so any decline can be expected.
GM is the Walmart of the car industry so dont be surprised if GM follows Walmarts lead and start producing significantly more cars in China within the next 10 years.
GM is the Walmart of the car industry so dont be surprised if GM follows Walmarts lead and start producing significantly more cars in China within the next 10 years.
Registered User
Joined: Jan 2002
Posts: 5,308
From: Oshawa - Home of the 5th-gen
Re: The General Might Die?
Originally Posted by 30thZ286speed
GM will be around for a long time to come, unless Wal-Mart buys them out
....how soon can you expect you'll be buying your next GM vehicle AT Wal-Mart?!?!
..."...attention Wal-Mart shoppers.....this week all children's shoes are on sale, 50% off.....home furnishings have been reduced 30%.....and this week only, prices on Corvettes have been rolled back to 2004 pricing..."...
Registered User
Joined: Mar 2001
Posts: 13,713
From: The Golden State
Re: The General Might Die?
Originally Posted by Aeromaks
GM has been going downhill for a while, the only reason they are afloat is GMAC financing.
Originally Posted by 97z28/m6
must find the heart of wall-mart.
Originally Posted by muckz
Take a look at the mirror.
Last edited by guionM; Dec 16, 2004 at 10:12 PM.
Registered User
Joined: Mar 2003
Posts: 239
From: Caledon Ont Canada
Re: The General Might Die?
Originally Posted by 91_z28_4me
Chevy has 1 Daewoo vehicle in its line-up, the Aveo. And despite the fact it is made overseas and it sells for around $10K it still makes some decent profit, as opposed to the last gen Cavalier which GM lost money on despite it not having as much interior space, as nice of an interior, or quite as good fit and finish.
So if you think that the J car should have continued just so we could have a cheap American made small car then you are nuts.
So if you think that the J car should have continued just so we could have a cheap American made small car then you are nuts.
I understand now, give people something they percieve as a better value.
Build it somewere else
In a country the residents cannot afford our products.
Lay off all our employees.
Wonder why no one is buying anything anymore and no one has a job.
Great, soon we can all live in huts with grass floors and wonder how North America became a third world country.
John