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Let GM Fail [View article]
I'm sorry this is happening. But many, many have gone before you. You will flail and yell for a while but then, if you want to survive, you have to accept and move on the best you can. Swearing at and calling the author of this article names and giving out his number so others can harrass him is not productive.
GM Must Die [View article]
I have a six year old American made car (Ford.) 87,000 miles on it and its already been in the shop several times. Never had that kind of problem with my Nissan pickup. Will I be able to get replacement parts for my American car if they close? Will the companies that make parts be able to keep supplies up on the old models? Are there enough cars on the road currently to keep the car parts businesses in business making parts for older models? Of course there are! There is still a market for them!
I don't have plans on buying a new car for several years, and when I do it will be the most advanced all-electric that I can afford, so unless the Big 3 can pull that out of their hat, I am not one of those who will decide NOT to buy because they went into bankruptcy. They've already lost a repeat customer.
The bigger fear for GM regarding bankruptcy is that there are no financial backers available to them if they go that route.Without federal help, the only real bankruptcy route open to them is liquidation.GM is the Lehman Brothers of the Big 3.
A Solution for General Motors [View article]
Back in the late 70's my father, a union man, worked for an ice factory. The ice factory management said that they couldn't make it if the union pushed for higher pay. They said they'd rather close immediately then see themselves lose everything in six month's time. The union kept pushing. The company closed and my father, having only an 8th grade education and limited networking skills never worked a steady job again. We went from good pay to welfare overnight. And didn't climb back out. Unions are good for protecting worker safety and rights, but they gotta look at the big picture. GM could get big bailouts now from the government and still go bankrupt next year, which means zero dollars per hour instead of $12 to $15 per hour in concessions.
I feel for y'all. Been there. But the economy, the evaporation of credit, the drop in housing prices, the loss of other industry jobs all conspire to leave cars unbought. Something's gotta give. What I wish the union at my pop's factory had done is push for retraining instead of higher wages. He might have gone on to something positive.
If GM goes down, everyone there will be without a job, without health care, without pension, and sliding down to foreclosures, etc. If you had a crystal ball and saw that it will happen anyway, just a year later, what would you wish had been done differently? That's what needs to be done now. Protect yourself for the new future that is coming. Is GM Too Big to fail? No, its too big to stay afloat. Even stars in the heavens go super-nova and burn out.