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Thread: GM Headed For Bankruptcy Again? Long, Excellent Article in Forbes

  1. #21
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    It is belly up time for GM. So kiss my butt GM!

  2. #22
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    Quote Originally Posted by WestCoastOffensive View Post
    Good points, wco.
    lolwut

    fapping over your own posts?

  3. #23
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    Quote Originally Posted by quantum View Post
    I was on the beach in SC last week. Did PK start hacking accounts?!
    Heck no.

    I like my wasted money bathed in blood. Tastes better.

  4. #24
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    So The Malibu is a lemon + The Federal Government owns 25% of GM = GM will be bankrupt soon?


    GM may go bankrupt again but I think there are better list of facts the author could have used.

  5. #25
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    Quote Originally Posted by doggin94it View Post
    It's broken into 4 pages - go read it.

    http://www.forbes.com/sites/louiswoo...kruptcy-again/

    That would be a disaster for the economy.
    I'm not so sure: if they are forced to reorganize and reform, it could mean they survive. All the bailout did was give them longer to do the things the crappy way.

  6. #26
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    Quote Originally Posted by quantum View Post
    I'm not so sure: if they are forced to reorganize and reform, it could mean they survive. All the bailout did was give them longer to do the things the crappy way.
    Rewarding bad behavior, negative reinforcement psych 101 all that.

  7. #27
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    They need a volt to get going. OOPS they have one but it isn't going anywhere. Another brainchild of Obama!

  8. #28
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    Quote Originally Posted by MnJetFan View Post
    They need a volt to get going. OOPS they have one but it isn't going anywhere. Another brainchild of Obama!
    You should know that the Volt was in development before Obama got elected.

  9. #29
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    Quote Originally Posted by adb280z View Post
    You should know that the Volt was in development before Obama got elected.
    And if the Obama administration didn't bail out GM the Volt would be dead. A bankruptcy with a bail out after the fact would have got costs in line and cleaned out failed vehicles like the Volt. The Obama administration has been committed to electric cars since day one.

  10. #30
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    Quote Originally Posted by Winstonbiggs View Post
    And if the Obama administration didn't bail out GM the Volt would be dead. A bankruptcy with a bail out after the fact would have got costs in line and cleaned out failed vehicles like the Volt. The Obama administration has been committed to electric cars since day one.
    Almost every car manufacturer is heavily invested in electric cars. Why is the Volt the only one that gets negative attention?

  11. #31
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    Quote Originally Posted by adb280z View Post
    Almost every car manufacturer is heavily invested in electric cars. Why is the Volt the only one that gets negative attention?
    Because unlike most car manufacturers GM is the only one that is being proped up by the taxpayer who is currently holding a 25 billion dollar tab that is likely to go up. Additionally by giving more tax payer money to people who buy the Volt it makes it look like a conflict of interest by the government.

  12. #32
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    Quote Originally Posted by Winstonbiggs View Post
    Because unlike most car manufacturers GM is the only one that is being proped up by the taxpayer who is currently holding a 25 billion dollar tab that is likely to go up. Additionally by giving more tax payer money to people who buy the Volt it makes it look like a conflict of interest by the government.

    And on top of that GN products stink. Toyota, Honda and Nissan are much better. Hey, even Hyundai is better not to mention BMW, of course.

  13. #33
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    Quote Originally Posted by palmetto defender View Post
    And on top of that GN products stink. Toyota, Honda and Nissan are much better. Hey, even Hyundai is better not to mention BMW, of course.
    The 2011 Camaro is great, although I wish it came with a locking fuel door.

  14. #34
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    Quote Originally Posted by quantum View Post
    The 2011 Camaro is great, although I wish it came with a locking fuel door.
    http://www.amazon.com/2010-2011-Chev.../dp/B0040E3W6Q



    Got one for mine....

  15. #35
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    Quote Originally Posted by MnJetFan View Post
    They need a volt to get going. OOPS they have one but it isn't going anywhere. Another brainchild of Obama!
    I lol'd

  16. #36
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    Quote Originally Posted by PlumberKhan View Post
    thx, it got one last year. the point is: its $200, it doesn't match the paint exactly, and it should have come with the car.

  17. #37
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    Quote Originally Posted by Winstonbiggs View Post
    Because unlike most car manufacturers GM is the only one that is being proped up by the taxpayer who is currently holding a 25 billion dollar tab that is likely to go up. Additionally by giving more tax payer money to people who buy the Volt it makes it look like a conflict of interest by the government.
    The level of owner satisfaction is extremely high. Quality and reliability is extremely high. But the downside is that the political extreme right has been distorting the facts of the Volt. The Volt passed the government crash tests with a five-star safety rating, and didn’t roll over. But the testing protocol requires that even if the vehicle doesn’t roll, it has to go through the rotisserie maneuver, which is five minutes on one side, five minutes on its back, five minutes on the other side, and then back on its wheels again. At some point during the rotisserie, some fluid leaked out, and three weeks later caused a short in the battery and the vehicle caught fire. I mean, how safe it that? Three weeks should give people adequate time to exit the vehicle.

    And what did all these right-wing commentators make of that? “Chevy Volts catch fire.” All of them were talking about “yeah, they all catch fire. GM’s gonna recall ‘em. There’s just another Obama-inspired program - a misguided socialist automotive policy. And not only did they spend a lot of your hard-earned tax dollars creating this vehicle, but now they put a $7500 tax credit on it.” Well, there are a couple of things wrong with all those statements. First of all, the Volt was my idea in 2006. We showed the first prototype at the Detroit Auto Show in 2007. Obama wasn’t elected until late 2008, so Obama could not be the progenitor of the Chevy Volt. And what they also conveniently forget is that the $7500 tax credit for electric vehicles was enacted under the Bush administration.

    As for Volts catching fire, the crashed one caught fire after three weeks, and then the NHTSA, in order to determine the root cause of the fire, deliberately mistreated two more battery packs until they caught fire to try to find the root cause of the initial fire. That of course in the media was: “GM grapples with additional Volt fires.” And these people are supposed to be for American jobs? They did such reputational damage to the Volt that the demand dipped to a very low level. So GM did the right thing, which was to idle production for 5 weeks and lay off workers. So here are these right-wing pundits who are always talking about jobs, jobs, jobs. Actually through their irresponsible reporting on the Chevrolet Volt they managed to put American workers out of their jobs for five weeks! It annoys me to no end.

    By the way, no electric vehicle has ever caught fire in normal service, but 275,000 gasoline-powered vehicles burn to a crisp in the United States every year - one every 120 seconds. [Editor’s note: the Bureau of Transportation Statistics’ figure is 250,000 gasoline vehicles per year.] Well, where’s the outrage when gasoline-powered vehicles catch fire? That’s considered normal. Every movie where there’s a crash sequence: bum-BOOM!

    As a conservative myself politically, it annoys me no end to see deliberate lying and misinformation coming out where they will trash an outstanding American product and do damage to American employment just to get at Obama. That’s just plain unethical.

  18. #38
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    Quote Originally Posted by adb280z View Post
    The level of owner satisfaction is extremely high. Quality and reliability is extremely high. But the downside is that the political extreme right has been distorting the facts of the Volt. The Volt passed the government crash tests with a five-star safety rating, and didn’t roll over. But the testing protocol requires that even if the vehicle doesn’t roll, it has to go through the rotisserie maneuver, which is five minutes on one side, five minutes on its back, five minutes on the other side, and then back on its wheels again. At some point during the rotisserie, some fluid leaked out, and three weeks later caused a short in the battery and the vehicle caught fire. I mean, how safe it that? Three weeks should give people adequate time to exit the vehicle.

    And what did all these right-wing commentators make of that? “Chevy Volts catch fire.” All of them were talking about “yeah, they all catch fire. GM’s gonna recall ‘em. There’s just another Obama-inspired program - a misguided socialist automotive policy. And not only did they spend a lot of your hard-earned tax dollars creating this vehicle, but now they put a $7500 tax credit on it.” Well, there are a couple of things wrong with all those statements. First of all, the Volt was my idea in 2006. We showed the first prototype at the Detroit Auto Show in 2007. Obama wasn’t elected until late 2008, so Obama could not be the progenitor of the Chevy Volt. And what they also conveniently forget is that the $7500 tax credit for electric vehicles was enacted under the Bush administration.

    As for Volts catching fire, the crashed one caught fire after three weeks, and then the NHTSA, in order to determine the root cause of the fire, deliberately mistreated two more battery packs until they caught fire to try to find the root cause of the initial fire. That of course in the media was: “GM grapples with additional Volt fires.” And these people are supposed to be for American jobs? They did such reputational damage to the Volt that the demand dipped to a very low level. So GM did the right thing, which was to idle production for 5 weeks and lay off workers. So here are these right-wing pundits who are always talking about jobs, jobs, jobs. Actually through their irresponsible reporting on the Chevrolet Volt they managed to put American workers out of their jobs for five weeks! It annoys me to no end.

    By the way, no electric vehicle has ever caught fire in normal service, but 275,000 gasoline-powered vehicles burn to a crisp in the United States every year - one every 120 seconds. [Editor’s note: the Bureau of Transportation Statistics’ figure is 250,000 gasoline vehicles per year.] Well, where’s the outrage when gasoline-powered vehicles catch fire? That’s considered normal. Every movie where there’s a crash sequence: bum-BOOM!

    As a conservative myself politically, it annoys me no end to see deliberate lying and misinformation coming out where they will trash an outstanding American product and do damage to American employment just to get at Obama. That’s just plain unethical.
    http://www.torquenews.com/106/gm-idl...tember-october

    By Patrick Rall on Tue, 08/28/2012 - 11:10

    While GM has not confirmed the news, unnamed sources have indicated that the General Motors Hamtramck Assembly Plant that builds the Chevrolet Volt will take four weeks off starting in September and running through October – marking the second time this year where GM has paused production of the hot selling electric Chevy.
    The Volt isn't even a pimple on GM's Elphant ass. They don't have enough owners and that's with the federal government giving 7,500 rebates to get people to buy it and CA offered an additional 5,000 to buy it. That's 12500 in government subsidy per car. GM is lossing it's ass on the Volt.

    The Volt is a dead dog loser for GM but as you pointed out the 3 satisfied buyers who got paid to buy it by the government aren't complaining. The problem is the rest of their product line.

    Take a look at the stock price. In one of the greatest bull markets of my lifetime the stock has done nothing but crap out. Why?

    http://money.cnn.com/2012/03/05/auto...ysis/index.htm
    Last edited by Winstonbiggs; 08-30-2012 at 05:06 AM.

  19. #39
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    its eye opening that the ford motor company saw this coming a mile away... if the american people own %25 of the company how come i dont have a brand new chevy in my driveway???

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