^ I think the contracts would be worthless at that point.
‘Until they show us the plan, we cannot show them the money.’
— House Speaker Nancy Pelosi
This seems like a Deal or No Deal episode.
wow, about the first time I’ve ever agreed with that xunt
Damn what’d I do to you?:shrug:
See British Leyland Motor Corporation, Nationalized by the british government in 1975 before certain bankruptcy.
Guy who lives near me has been payed by gm for years, He has not set foot in the plant for over 15 years. He is “mentaly ill” and still making over 60 grand a year. Best part is his whole family drives nice cars and none of them are build by Gm.
General Motors makes more factory cuts, extends holiday shutdown to Jan. 20 at some plants
yeah, it looks like we’ll be taking off some “mandatory” time at the end of the year (unpaid) :\ vacation is nice, but so is a paycheck
2 of those plants in the article make up about 90% of our output at Tonawanda.
GMAC is not looking so hot. . .
“If GMAC is unable to successfully convert to a bank holding company and complete the GMAC and ResCap offers by December 31 2008, it would have a near-term material adverse effect on GMAC’s business, results of operations, and financial position,” the company said in a statement.
I hope GMAC survives. Without an attached financing arm incentives become a whole lot trickier. Not to mention, at the end of my lease, it will be easier to negotiate on my super-inflated buyout price with an ailing company than if it gets sold off to a Chase or a Wells Fargo.
You should see what we are offering people to buy out their cars.
:lol: :lol: That is great!
Ford is not part of the loan anymore.
I didn’t make it, I found it on a blog.
Thinking like this is why nobody will give GM/Ford/Chrysler a second chance or accept the fact that they are at least improving their image/quality/fuel economy. Decades ago our parents thought this way about the Japanese and we laughed at them for being “old fashioned”. Import hype is becoming the new “old fashioned” way of thinking.
HOWEVER…
I will NOT argue that the big 3 didn’t build crap for nearly 2 decades and live off reputation and volume. They probably pissed off a lot of people by building sub-par performing and quality cars.
Ya they were behind in some ways, but this sucks right when things started to turn around and this happens.
Too many people are waisting time talking about the quality of American cars vs. the rest.
The issue here is bad management decisions and labor costs.
Can’t argue that