GM in finanicial trouble.... - TCCoA Forums
 
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post #1 of 8 (permalink) Old 11-17-2005, 04:00 PM Thread Starter
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GM in finanicial trouble....

http://www.msnbc.msn.com/id/10086163/
Ouch, looking at those figures, GM is in big trouble right now. Its just too bad they cant seem to get going.


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post #2 of 8 (permalink) Old 11-17-2005, 08:58 PM
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I've been keeping up with that here and there. I hope they can finally turn things around soon. As much of a Ford man that I am, I'd hate to see a domestic manufacturer go into bankruptcy protection. I actually like some of the GM products. Hopefully Ford is able to turn things around as well, or they may eventually face the same issues.

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post #3 of 8 (permalink) Old 11-18-2005, 04:27 AM
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they wont close their doors anyways, uncle sam wouldnt let it happen. the military and other government agencies would buy gm vehicles to help bail them out. same thing happened when chrysler was in trouble.
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post #4 of 8 (permalink) Old 11-18-2005, 08:23 AM
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GM cant fail, the loss of jobs would be devastating. If it gets as bad as Chrysler the feds will save them no matter whos in office.

The military has been buying GM vehicles for a long time, the Hum Vees. I dont remember if GM builds the vehicle itself but the engines are GM built, least in the early ones, I havent looked into it for a while.

Like FordMan77, Im a Ford guy myself (with a soft spot for old Chryslers lol) but I would hate to see a company like GM thats been around for so long and employ so many people to fail or get taken over buy an oversees corp like Chrysler did.

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post #5 of 8 (permalink) Old 11-18-2005, 01:06 PM
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AM General built the older humvee's. Im not sure if they are sitll building more or not. I know GM had a small part in it though. I heard Ford and GM arent doing well, chrysler is making by, and the import companies are doing well.

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post #6 of 8 (permalink) Old 11-18-2005, 01:55 PM
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I don't want them to fail simply because of all the people they owe money to...if GM goes bankrupt, thousands of people will lose their pensions. Guess who gets to pay for their pension then? Yep, the people who are working now.




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post #7 of 8 (permalink) Old 11-18-2005, 01:59 PM
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weak dollar isnt helping much either.




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post #8 of 8 (permalink) Old 11-18-2005, 02:45 PM
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A lot of the airlines have filed bankruptcy and are still flying. The high pension and medical cost are killing them compared to the low cost competitors. The auto makers are now trying that, puts their pension burden on the government. New laws just passed will increase the amount companies pay the government for pension insurance to help this problem. Unions still want everything and don't want to budge. I don't think you will see GM close its doors.
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