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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.
Jul 07 11:19 am
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All Comments by User 158164 »I Was Wrong About GM Bankruptcy [View article]
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.