Mister Jimmy

Former GM Board Member: 'I Told You So'

Kinabalu, a GM bankruptcy is not likely. Treasury Secretary Geithner appeared on PBS earlier this week, and aid to the U.S. auto industry was one of the topics of discussion. He said the current challenge facing the industry is partially a result of a larger financial crisis. “The industry is facing just exceptional challenges. Part of the challenges they brought on themselves and part of those challenges are just the function of the fact that we’re facing such a huge collapse in demand around the world and a very difficult financing environment. And what we want to do is figure out what restructuring plan will leave these firms in a position where they’re going to be viable over time without government support.” Geithner said bankruptcy is not the best option for the auto industry right now. “We’re going through a very challenging period in the American economy as a whole, and as the President said and the previous administration said, a disorderly failure of these firms in this economy would cause enormous damage in terms of job loss across a whole range of industries and in a recession like this you have to consider things you would never consider in a more normal economic environment.”

Former GM Board Member: 'I Told You So'

Mr. Killinger, 11 of the top 20 selling vehicles in the USA are still Detroit name plates. That would appear to invalidate your comment that "most Americans don't hold Detroit in very high regard". I assure you, Wall Street would not get the same 55% approval rating right now.

Former GM Board Member: 'I Told You So'

notsosmart, the latest Consumer Reports gives its "recommended" ratings to several GM cars and trucks.

Former GM Board Member: 'I Told You So'

ScottyEconomist, you and the entire "OTC and Structured Products" crowd enriched yourselves by mismanaging the retirement savings of millions and churning worthless pieces of financial junk into an economic catastrophe. Don't compound America's disdain for you by referring to others as "mindless drones".

Former GM Board Member: 'I Told You So'

Cobra 1, that MotorWorld piece is from Fortune's perennial GM-basher Alex Taylor III. Before the new Malibu was introduced, he wrote an article scoffing at it in a "here they go again" manner. When it demonstrated itself to be a hit, continuing to take market share, and proving itself to be a worthy competitior with Camry and Accord, do you think that turd ever published a retraction? Of course not. So typical of the arrogant New York financial press. They know all about Detroit, but are clueless about the incompetence in their own backyard, namely Wall Street.

Former GM Board Member: 'I Told You So'

This author "experienced the inner workings of capitalism at various asset managers and advisors"....in other words the same New York criminals that put this economy where it is today. Yet, they're full of advice about Detroit and the auto industry.