After Delphi's Chapter 11 filing, GM shares tumbled 10%.
One analyst sees a 30% chance the auto giant will also seek protection. GM also faces a liability of up to $11 billion for pensions and benefits due to workers. I'm not quite sure of the relationship between Delphi and GM.
But GM has stated that filing for Ch 11 is distant. Also if the UAW and GM negotiations for benefit reconstructing goes well, GM should be okay.
The United Auto Workers is sucking GM dry! then again if GM didn't slack off the previous decade they wouldn't be in a situation where they can't afford to pay their workers benefit's. IMO our Government is too easy on foreign auto makers...its a double standard, Japan is so protective over their auto industry that its so hard for America to sell cars in their country yet here anyone from any damn country can just come in a sell what ever the hell they want without domestic protection. I guess I'm being blunt, ill get in more detail later...
don't forget we make most of toyota's/honda's parts for them here.( i used to make them)and yes we did sell some american cars to them,but it's in the number of 5000 where they sell 10's of thousands.
There is one form of bankrupcy filing that gets the company out of ALL the liabilities to pension plans, union contracts etc. I wouldn't be to surprised if GM wouldn't file it. Looks like they have decided to declare war on all of us that work for an hourly wage no matter where we work at. Ok, sheeple, just keep on lining up for all those GM cars/trucks....... This starting to look like the early'80's all over again when all the big companies told the workers 'give back- give back' and we did and all we saw was huge bonus money for managers while they moved industrial plants overseas........
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it also has alot to do with the fact that they have loaned out so much money through GMAC at such low interest rates that they are starting to feel the crunch now that the interest rates are rising.
I don't feel sorry for them in the least or the auto workers.......1st they cost about 10 million min on thier ads....also they have all these divisons as buick needs to go as well as pontiac.....pontiac could be like a special vehical plant.... like gm and gmc ..years ago there was a big difference now there is none......best thing is to break the union as why pay someone to look out for you when the company is padding thier pockets behind closed doors......they could drop thier wages by what they union dues are and gm makes $$$ and the employee brings home the same....
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IF YOU CAN'T BEAT'EM WHOOP THEIR ASS! '89 lx 5.0 5spd 4 sale 3800 '90 lx 306 s/c '90 lx 5.0 auto hockey sux mopar..I like midgets they hang nice from my x-mas tree
We had this chat in here a few weeks ago. In the 70s 80s we had a huge import tax on all import items as well as imported cars. The Japaneese were smart, they started building part of their cars over here thus; no longer an import. Then came NAFTA (north american free trade agreement) This dropped all import tax for north and south american companys. This is why mexico is killing us with manufacturers that went south. Oh it gets better. Next to come along was GAFT Global free trade agreement. That one killed us. We have a huge economy. We pay our skilled people well so it is hugely lopsided as far as what we are exporting to importing. This is why our car manufacturers are taking it tough. BUY American
I have a question. Chevy claims they have 13 or 16 models that get over 30 mpg that can't be good
I'm with you babygurl, for the first time in a LONG time or possibly EVER, more and more people are watching their budget when it comes to how much they are paying for gas.
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'66 Fastback - 17" Boyd Smoothie's, Eagle F1's, Corbeau Seats, BAER 4 wheel disks, T-5 tranny, JMC hydraulic clutch, Flowmaster mufflers, JME guage cluster, Scott Drake billet taillights and gas cap. . . . AND TONS OF FUN!!!!
Hunter9s said it all. BUY AMERICAN. Its just that simple.
What's american anymore? Some of the domestic stuff is made overseas now..even on the Mustang (interior components) I know because I work with plastics companies here in the U.S. that make just about any/all of the Domestic plastic components and half are going to CHINA. Delph just filed Chapter 11 and they one of GM's Largest OEM suppliers of plastic components. Some of their reorg has them sending stuff to china to lower overhead....
thier not killing them GM,ford are doing it to thier self.....they have no innovations like toyota....thier hybrid stuff is whoop'in everyone's ass..gm has too many divisions...funny thing is alot of american workers are cheaper than japan now....most of toyota's engines are built in WV....I have been ti=o the plant and know people who work thier.....thier is pride at the plant.....gm ,ford are just top heavy greed.....
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IF YOU CAN'T BEAT'EM WHOOP THEIR ASS! '89 lx 5.0 5spd 4 sale 3800 '90 lx 306 s/c '90 lx 5.0 auto hockey sux mopar..I like midgets they hang nice from my x-mas tree
Ford will be the last to go bankrupt, considering they have $26BIL in cash, much more than the others. And the product assult that is debuting soon, will definitly bring it up to par. Dont hold your breath.
Anyone ever heard of lean manufacturing. It's what Toyota is a master of. The funniest and most ironic part of it all is, it was started by Mr. Henry Ford. In Japan there is no such thing as a union. They take pride and responsibility in what they do. The biggest problem with American manufacturers is the workers. Not the grunt on the line, but management. They just don't understand how to be effecient.
Effeciency is the key. Figure out how to make the most with less and you can master the car market. GM has so many redundant divisions it's sick. Why try and sell the same car with a different name and price tag? Ford figured this out w/ the Capri and Mustang. The last time I read, somewhere around 10-15% of the car cost goes to pensions alone. WTF!?
Toyota is poised and ready to pounce. When Ford is bought out, I'm moving to Russia.
The United Auto Workers is sucking GM dry! then again if GM didn't slack off the previous decade they wouldn't be in a situation where they can't afford to pay their workers benefit's. IMO our Government is too easy on foreign auto makers...its a double standard, Japan is so protective over their auto industry that its so hard for America to sell cars in their country yet here anyone from any damn country can just come in a sell what ever the hell they want without domestic protection. I guess I'm being blunt, ill get in more detail later...
The Japanese auto market is about 1/40th the size of the US market. The reason the US auto industry isn't in Japan is it isn't worth the overhead to make the sales.
Protective? Check out what the US Gov does to the price of a BMW or MB. It leaves Germany at $26k for a 528i and gets here at $45k hello can you spell import taxes? Thats an expensive boat ride.
The gov doesn't want to stop imports -- not when they can get so much in the way of taxes outta them. It would be bad for business and what is bad for business is bad for America
Many of the new Ford midsized products are based on the Mazda6. Fusion, Zephyr and more on the way. Designed in Hiroshima brought to you by Ford
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