GM is in the worst shape of the Big three

[nosparkplugs]

C-Span2 is holding the Governmental assistance for the auto industry bail-out hearnings right now. GM is the worst off of the "Big Three" According to the "numbers" released GM is on the verge of total failure, while Ford & Chrysler are far better off.

Their saying only Ford & Dodge are "credit worthy" of the bail-out money. GM looks like SHAT on paper. Yet are asking for the most amount GM needs 12 billion now Ford needs 4billion Dodge needs 4billion.


Chryslers seems better off to absorb GM, and that is being discussed.


Thats awesome GM would be purchased buy Chrysler :laugh:

[GravelyNut]

C-Span2 is holding the Governmental assistance for the auto industry bail-out hearnings right now. GM is the worst off of the "Big Three" According to the "numbers" released GM is on the verge of total failure, while Ford & Chrysler are far better off.

Their saying only Ford & Dodge are "credit worthy" of the bail-out money. GM looks like SHAT on paper. Yet are asking for the most amount GM needs 12 billion now Ford needs 4billion Dodge needs 4billion.


Chryslers seems better off to absorb GM, and that is being discussed.


Thats awesome GM would be purchased buy Chrysler :laugh:

Chrysler should be barred from the bailouts as they already have been once.

[LAG]

The US automakers are asking for a bridge loan that will be re-paid, though some critics call helping America’s automobile industry a bailout. I strongly believe this is an investment to rebuild our nation’s economic engine. If we do nothing, the future our country faces during this downturn is clear. We will see even more economic upheaval, communities will lose substantial businesses and revenue, and thousands of jobs will disappear. The negative impact will be worse than anything we’ve seen in our lifetime.

We are at a crossroads, where given the opportunity, our nation’s auto manufacturers can lead once again. In 2010, we will see labor and health care reforms kick in. We will also see new electric vehicles introduced that will help reduce our nation’s dependence on foreign oil. And if it weren’t for the recent credit crunch, these companies would be on the road to succeed.

If Congress does not act, it will be the shortest and fastest road from recession to depression. Our economy is suffering enough. Please help prevent further job losses and devastation to our communities. I am asking that you give our nation’s car companies the opportunity to complete this turnaround.

We cannot afford to lose this cornerstone of our economy. We should not depend on other nations for our manufacturing capabilities or new technologies. And we do not want to contribute to an even deeper collapse that will leave too many people facing further economic uncertainty.

[Lawnworks]

The UAW has GM by the balls... they really need to file chapter 11 and restructure and renegotiate all contracts with the union. The average Toyota auto worker w/ benefits included get $53 an hour... an average GM employee w/ benefits included gets $78 an hour.

[nosparkplugs]

Chrysler has been bailed out once, and came out better. What it's ok to keep bailing out GM over & over.



It was brought up in the hearings that during the Clinton era GM & Ford were given billions to get a hybrid Electric into production, and in return:laugh: the Government would loosen/lower the higher mandated EPA MPG for current vehicles, what did GM do they took that government money for hybrid/electric R&D , and invested it into their gas guzzling SUV line-up and went through another government cash burn, lining their pockets:clapping: All the while Toyota got their Hybrid/Electric car into full production that is FACT.

Unions are hurting the Auto Industry Bad, their once was a time for Unions before OSHA, and these " Employee watch dog agencies". Unions always have hidden agenda's period, that was made clear during these hearnings.

Were does the madness end, this is a Capitalist democracy??, going towards a socialist communistic government if we continue. We need to let the Auto industry implode, and may the best company survive, to compete with the foreign auto makers whom are doing this with zero US government money.

Sorry if you are late on your truck or car note GM, Ford, Chrylser will still send the Repo man. We are enabling these big companies to run with no checks & balances. Were is the "bail-out" for the American citizens. UAW workers may keep their job, but now with a company that is owned buy the government.

NO MORE BAIL OUTS, WHO BAILS OUT THE AMERICAN BUSINESS OWNER OR THE TAXPAYER? NOPE WE JUST GO-UNDER.

[J.A.G LAWNCARE]

they are all over paid.................................the union is killing the country....the heads of big business are all over paid , they need to share the whealth when doing good and take the losted when doing bad , no bonus when your not doing good ........

[topsites]

The one positive thing I can say is at least now there were a FEW volunteers who
said they would lower their salaries to $1.
And it doesn't exactly make my day to think it must be high time they are feeling the
GUILT from fattening their wallets all those years, but it still helps a little.

And...
Our bail out?
Remember that $300 check?
'k

[nosparkplugs]

The one positive thing I can say is at least now there were a FEW volunteers who
said they would lower their salaries to $1.
And it doesn't exactly make my day to think it must be high time they are feeling the
GUILT from fattening their wallets all those years, but it still helps a little.

And...
Our bail out?
Remember that $300 check?
'k

$300:laugh::laugh: bailout your joking right

A few volunteers??? try ONE . Robert Nardeli Chrysler CEO was the only one willing to forfeit his total 2.5 million dollar salary to $1.00

Ford's Alan Mulally reported 9.5 million salary, and refused to give it up

GM's Richard Wagoner would only half is 2.5 million salary.


This is in pure insanity, the government should have taken all this "bail out money" and made real bail out checks to all american tax payers, that would truly help our economy.

[cutbetterthanyou]

If gm goes under do i still have to make the payments on my truck?

[BrandonV]

my brother works in the auto industry as a supplier, he's and IE. he told me that GM's hourly cost per line employee is $76 opposed to Toyota's plant here in the south @ $44/man hour

[Petr51488]

If gm goes under do i still have to make the payments on my truck?

Yes, because your financing through GMAC. I heard they were trying to become a bank so they can get bailed out.

Oh, and GM ISN'T asking to get bailed out, its asking to be loaned money. You'll see what happens to this country if it doesnt happen. Its nothing but a domino effect that will crush this country. You'll see.

[nosparkplugs]

This is NOT a loan but another handout, in a long history of them for the Auto industry; unlike the banks the Auto industries credit score is so low that no one would lend them money. GM, in particular is the worst off followed buy Chrysler & Ford. Ford & Chrysler are far more "worthy" of any bailout money than GM, that is according to the limited financial information each of the three gave Congress. All three look like crap; however GM is not totally forth coming of their troubles; speculation is it's far worse than anyone could imagine or should have let go for so long.

[Lawnworks]

Yes, because your financing through GMAC. I heard they were trying to become a bank so they can get bailed out.

Oh, and GM ISN'T asking to get bailed out, its asking to be loaned money. You'll see what happens to this country if it doesnt happen. Its nothing but a domino effect that will crush this country. You'll see.

The unions have destroyed GM. A bailout is a bandaid, it doesn't solve the real problem. $73 an hour for floor sweepers. They spend 17 mil on viagra alone last year. The ceo spent 20k to fly to Washington yesterday on his 36 million dollar jet. Round trip air fair for first class Northwestern was $1700. 25 billion is a handout.

[unityroad]

Hello. I think that if the people building cars trucks.....now in the usa, if they cannot make it work here, more money will only forstall the end. I think GM has allways thought they are too big to " Go under". This Titanic mentality has got them here. Maybe they should just quit whinning and roll their sleeves up, Get to work drop buick ,GMC, Hummer, Saturn, production lines.Or maybe they should get money from the dam mexicans, chi-coms and other commy basterds. The only thing they come up with is a bail-out. They did not ask us if they could move most of their production off shore.. Hardships allways make us better at what we do. Here in ohio honda is hanging in there. They seem to produce a fine product. Our GM lordstown plant builds the chevy colbalt. The car is not even selling well and is a new model that just came out. It is to compete with the civic (LOL) Also the honda plant in ohio builds these cars with american workers. You dont here them bitiching about "Leagecy" cost or unions. It is what is it is Gm after a money grab. I love my country However these people will screw you over, and then want a goverment to bail them out. Remember GM "ITS HARD TO GET OUT OF A RUTT.................WHEN YOU ARE MAKING THEM"

[Petr51488]

Personally, i think GM is the only thing left here in America that is made in America, by Americans, FOR americans. Thats why they think their going to get bailed out, and thats why they pay them damn union guys so much for nothing. They screwed themselves. I'm glad i bought 2 new trucks now. Their damn good trucks!

[nosparkplugs]

Their is nothing left that is truly "made in america", most of the auto industry parts & sub assemblies are manufactured outside the USA, and the finally assembly is in the USA. Toyota, Honda, VW all have plants in the USA; sadly their equal to or more American than our products.

So if you think purchasing a GM, Ford, Dodge truck for the past 35 years??:laugh: is helping our economy:hammerhead: look at whats happened. Thats what is making this bailout difficult, the government knows it's best to let the Auto industry sink, and whom ever emerges from the wreak age will be far leaner to compete.

From what is being reported today, GM, Ford, Chrysler have until 12/02/08 to submit a "plan" for how they will use the "handout", and that plan must show positive growth, or its a no go. It does not look good for the Auto Industry, and whlie Ford is in the best shape Chrysler is far better off than GM, and yet their all screwe'd. Their is talk of letting all three file for chapter 11, and remain open, yet who wants to own a product manufactured by a company in chapter 11 Bankruptcy

[Marek]

I feel bad for the suppliers, they will get screwed in all of this. They shouldnt bail out the banks or insurance companies either. How would you feel right now buying a new GM , do you think they are still producing a quality unit or are they saying screw it and throwing it togather?

[nosparkplugs]

I was Born & raised in Flint, Mi, my Father had 35 years in with GM when he passed on in 1996. Many years before his death he said the UAW would destroy GM, and he was right. I could have pursued a engineering degree through GM, and follow in my Fathers footsteps. He almost had a stroke:laugh:, and threatened to kick me out of his house if I wanted to pursue a career in the Auto industry like him, I know see why, and wish I could thank him for saving me from what so many GM employee's are going through. The reality is; GM has no one to blame but themselves for this BS. Greed, from the top down has been hemorrhaging for 30 years, congress has bandaged the wound far to many times "enabling" a poor business model to continue, that otherwise would have failed years ago.

I stopped buying GM products when my Father died in 1996, and have zero regrets. Gm has become a slave to it's own cancer, and has been through all the treatments to prevent the inevitable death coming.

How can any American taxpayer, who could never get a "handout" for their Mortgage or Vehicle note, you get zero sympathy from the banks if your late making a payment to lender, wake the "F" up Lawnsite, & America! were going to have some "pain" before it will ever get better. The collateral damage AKA the UAW job looses will be devastating; however it is necessary, and part of a capitalist economy matrix.