ellives

The signature at the bottom should say: About General Motors: General Motors Company, one of the world's largest automakers, traces its roots back to 1908 and was killed due to the greed and avarice of unions worldwide and the ineptitude of management and its inability to respond to union labor demands. With its global headquarters in Detroit, GM employs 219,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. General Motors Company acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors Company can be found at www.gm.com. In Europe, GM sells its vehicles in over 40 markets. It operates 10 vehicle-production and assembly facilities in seven countries and employs about 50,000 people. More information on GM can be found at http://media.gmeurope.com and http://www.gmeurope.com. GM Europe executive blog at http://drivingconversations.com.

And so now the vultures swoop in...

Bloomberg article By Doron Levin and Jeff Green March 29 (Bloomberg) -- General Motors Corp. Chief Executive Officer Rick Wagoner will step down after more than eight years running the largest U.S. automaker, people familiar with the situation said. The people, who asked not to be named because the announcement hasn’t been made, didn’t give a reason why Wagoner, 56, is leaving. Wagoner said as recently as April 19 that he didn’t plan to resign. To contact the reporters on this story: Doron Levin in Southfield, Michigan, at [email protected]; Jeff Green in Southfield, Michigan at [email protected]

I agree. Oldsmoboi's edit wasn't bad either.

Tough to argue the sentiment even though the author is careless with his writing. I also suspect he's a bit slanted. He tried to compare GM and Chrysler as car companies when in reality they are very different. I think Rick should go too. Results are all that matters and his results have been nothing but abysmal.

Your probably right. My neighbor told me tonight that his financial advisor told him to get out of the stock market and into cash because the whole banking industry is a big Ponzi scheme and the NYSE is going to 6000...

I have thought about this situation long and hard and I would make the case for helping salvage GM if two things happened: 1. The UAW was purged from GM completely. No unions workers employed by GM. Done. Over. Bye bye. 2. The Company was brought private. It is a ridiculous scenario under which those dirtbags in congress tied the continuation of loan support by requiring a business plan. This shows just how stupid and clueless about business those idiots are. Give us a business plan that makes you viable and of course your competitors can all see it. Red Ink Rick needs to grow a pair and give Dodd and the rest of the motley crew in congress the big FU if that's what they wanted. Just walk away and let those idiots deal with it. If these two things happened, GM would have a shot of survival. Otherwise, "stick a fork in 'em honey. They're done."

If Bush wasn't such an ashtray he could have avoided all this. Obama is another well-intentioned occupant in the White House who has never created or built a single thing in his life so doesn't understand the issues involved in doing so.

Just more dirtbag lawyers looking for a payday. They should all be lured on to a cruise ship, taken out to sea and thrown overboard.

Personally I think the whole country has an attitude of entitlement that is going to be a tough pill to swallow when they're out on the street. They'll all go begging to the government to give them a handout so they can sit at home and bitch about how bad things are. Eventually they'll figure out that all these manufacturing jobs that have been flooding out of the country over the last 20 years carried their "entitlement" right out of the country too. When you're a country that doesn't make anything, there is no wealth being created so you're stuck with nothing but 8 buck an hour Walmart jobs. Try buying a $200k house on that. Oh that's right... all those $200k houses are now worth $100k. Funny about that.

I contract can never say "they can not" because we all know they can. What it *can* say is "if they do, we're going to come down on everyone with a hammer." This is the way the contract is written. Personally I wouldn't even waste my time even talking to Gettelfinger. His job, role, and organization are so over. The time has finally come to say "this is what you're getting now get back to work and shut up about it or find yourself another job. There are 100 people waiting outside for yours if you don't want it."

What it really says is "if they do, this is what happens."

Even the UAW isn't stupid enough to pull a string that says "strike" on it that's tied to the trigger of a gun that's pointed at their own heads. I suppose the one positive outcome of a strike WOULD be the end of the UAW. I was listening to CSPAN this morning and they had on a speaker who was head of Lockheed Martin at one time and he pointing out an oft cited statistic that we've all heard that the US spends more than almost any other country (we're #3) and our students perform at the lowest end of the testing scales. Hearing it again, made me wonder all over again why this is the case. We generally have a high standard of living, and usually the schools have the resources they need (despite their bitching to the contrary.) I realized the reason is that the teachers are unionized too. I'm not sure why it took me so long to make the connection but it seems fairly obvious to me now - duh.

Maybe so, but it still feels good so in the spirit of the American Way, "keep doing it."

A sad end to a once great company that was a victim of the go-go days of false prosperity brought on by thieves, criminals and incompetents running our banks and financial institutions. You're probably right in saying they won't re-open and the "one month" time period was just a head fake designed to slow down the spiral a bit.