Deweyp

I Was Wrong About GM Bankruptcy

Finally, someone with a sensible comment. Very well said.


On Jul 07 11:19 AM User 158164 wrote:

> Somewhere between Davewmart and Detfan is reality. Every recession
> you hear the "the economy will never be the same again" and they
> are right, the economy comes back different, and usually better.
> I remember the late 80's doom and gloom, followed by the 90's unemployment
> so low a blind felon could get a job as a night watchman.
>
> On the other hand, GM is facing world wide competition from Volkswagon,
> Fiat, Toyota, a resurgent Ford, Honda, and now a slew of Chinese
> and Indian companies. If they all take only 2% market share, just
> in sheer numbers of companies it will be a hard row to hoe.
>
> Buy back the stock? Yeah, that was a winning strategy in the 90's
> - $25 Billion in stock buy backs and now that stock is worth zero.
> The smart money spends money on product, not stock buy backs.
>
> GM has some excellent product now, I have a Silverado with ZERO issues
> and I have driven the new Camaro and it is world class. They need
> to keep that quality up.
>
> Most of what I read about the UAW is based on stuff they read before
> the new contract, and even more changes have taken place with the
> crisis. I never met the guy "making $80 an hour sweeping floors"
> in the first place. Most of that crap was just BS anyway. There
> are some horror stories, but I can tell you some horror stories about
> non-union shops also. Somehow a truck a minute spits out the back
> door, so someone must doing some work.
>
> I know there are some retards talking boycotting, yeah that makes
> sense. Put Americans out of work solely because you don't like the
> President and drive down the value of the company so that you the
> taxpayer loses money in some kind of childish hissy fit. Fortunately
> I think those numbers are small and their job at the car wash does
> not buy a new car anyway.
>
> In other words, if you are looking at the future for GM, I think
> you can be pretty optimistic, but realistic.
>
> I think more important to the question is not what will GM do, but
> will this country EVER develop a sensible manufacturing policy that
> will get us back to work.