Announcement

Announcement Module
Collapse
No announcement yet.

GM to Shut Down 2500-2600 Dealerships across the United States

Page Title Module
Move Remove Collapse
X
Conversation Detail Module
Collapse
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Re: GM to Shut Down 2500-2600 Dealerships across the United States

    I just briefly looked over some users posts and noticed the word 'union' quite a bit.

    The UAW Union (United Auto Workers) unfortunately seemed to run themselves out of work. Once they're contracts were up, it seemed they constantly asked and received more pay and benefits.

    Hopefully the UAW can turn this situation around, and quickly at that.
    Proud To Be Union!!

    Comment


    • #17
      Re: GM to Shut Down 2500-2600 Dealerships across the United States

      I think unions are a good thing. I also think the UAW lost sight of its objectives out of deference to getting more money in their coffers and more power for their officers. I believe that has now come back to bite them in the behind. Quite unfortunately, the officers who misdirected the union will not suffer - it is the workers who will lose. Kind of the same thing I see in banking...
      Measure TWICE - Cut ONCE! 'Cause the Lumber Stretcher is broken!
      I'd throw more things away, but I'm afraid someone might want them...
      My DIY and HOW To Articles and Videos

      Comment


      • #18
        Re: GM to Shut Down 2500-2600 Dealerships across the United States

        Originally posted by LuciKnows View Post
        I think unions are a good thing. I also think the UAW lost sight of its objectives out of deference to getting more money in their coffers and more power for their officers. I believe that has now come back to bite them in the behind. Quite unfortunately, the officers who misdirected the union will not suffer - it is the workers who will lose. Kind of the same thing I see in banking...
        I guess we will have to wait to see how it plays out. Obama just offered the UAW a 55% controlling interest of Chrysler pre-bankruptcy. If it had not been for the 30% speculators holding out for a fair shanke this would have been a different game.

        Mark
        "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

        I never lost a cent on the jobs I didn't get!

        Comment


        • #19
          Re: GM to Shut Down 2500-2600 Dealerships across the United States

          Originally posted by ToUtahNow View Post
          I guess we will have to wait to see how it plays out. Obama just offered the UAW a 55% controlling interest of Chrysler pre-bankruptcy. If it had not been for the 30% speculators holding out for a fair shanke this would have been a different game.

          Mark
          Mark, how much longer can the country "wait and see"? I'm not just referring to this situation but jobs, housing, and all the current critical events looming over us. Washington under President Bush and now President Obama has moved fast enough, maybe too fast to pass bailout and stimulus monies but what has been done to create new jobs, real jobs separate from government funds? Looking past the automaker/autoworker crisis, we are still in deep trouble.I saw in today's news a story on Mrs. Obama's expensive designers sneakers, is this really important considering what our nation is facing? I don't care about her snaekers, their new dog or much else until the ball gets rolling to fix the serious problems.

          Comment


          • #20
            Re: GM to Shut Down 2500-2600 Dealerships across the United States

            Originally posted by ToUtahNow View Post

            .... Chrysler Financial being swallowed up by GM's GMAC Financial....

            I thought GM had sold off controlling interest of GMAC a few years back to Cerberus (sp?), which already has a stake in Chrysler.

            I may not have that 100% correct, or it may have changed, IDK.

            Comment


            • #21
              Re: GM to Shut Down 2500-2600 Dealerships across the United States

              Originally posted by lmpg View Post
              I thought GM had sold off controlling interest of GMAC a few years back to Cerberus (sp?), which already has a stake in Chrysler.

              I may not have that 100% correct, or it may have changed, IDK.
              I believe Cercerus was and still is the owner of Chrysler Financial and had investments in Chrysler LLC. They will continue servicing existing loans for Chrysler but all new Chrysler loans will go through GMAC where Cerberus is a minority owner.

              Mark
              "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

              I never lost a cent on the jobs I didn't get!

              Comment


              • #22
                Re: GM to Shut Down 2500-2600 Dealerships across the United States

                Originally posted by Frankiarmz View Post
                Mark, how much longer can the country "wait and see"? I'm not just referring to this situation but jobs, housing, and all the current critical events looming over us. Washington under President Bush and now President Obama has moved fast enough, maybe too fast to pass bailout and stimulus monies but what has been done to create new jobs, real jobs separate from government funds? Looking past the automaker/autoworker crisis, we are still in deep trouble.I saw in today's news a story on Mrs. Obama's expensive designers sneakers, is this really important considering what our nation is facing? I don't care about her snaekers, their new dog or much else until the ball gets rolling to fix the serious problems.
                I think we are in a perfect storm of troubled times right now. I had warned before the election if we ended up with both Houses and the Executive Office in the control of one party we were in for big trouble. Now we are into a one party system with Pelosi, Reid and Obama in charge. All three of these people are ultra Liberals and that is where we are headed. Their choices now are to try to save the Country and put their agendas on hold or to try to save the Country and push their agendas quickly while they have a one party system advantage. So far it seems like the later is what they are doing.

                It seems obvious right now all we can do is "wait and see". The Democrats are in control and there is no opposition. Obama recently mocked the 250,000 protesters who took place in the "Tea Party". It seems odd there was very little coverage of the "Tea Party" but we know about Mrs. Obama's expensive designers sneakers. The press is in love with Obama so you won't hear them being critical of anything he does and that is where many get their news.

                Mark
                "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

                I never lost a cent on the jobs I didn't get!

                Comment


                • #23
                  Re: GM to Shut Down 2500-2600 Dealerships across the United States

                  Mark, I don't understand how anything that President Obama is doing will "save the country". I honestly believe that a republican administration would have picked up where President Bush left off and continued the bailouts and stimulus monies. The only break from this trend of throwing money at the problem might have been Romney, a person with a real business background? If there was a more even balance of power in congress there would be more fighting, probably delays in spending, and the results as far as lack of jobs and recovery about the same. We need good, honest business people to fix the business part of our economy and real experts in trade, jobs and finance to fix the other parts. Politicians are good at what they do, whatever that is?

                  Comment


                  • #24
                    Re: GM to Shut Down 2500-2600 Dealerships across the United States

                    Originally posted by ToUtahNow View Post
                    I guess we will have to wait to see how it plays out. Obama just offered the UAW a 55% controlling interest of Chrysler pre-bankruptcy. If it had not been for the 30% speculators holding out for a fair shanke this would have been a different game.

                    Mark
                    I think this is going to have long term effects that make capital more expensive for business; and hence reduce economic growth. The bondholders should not be third in line, they should be first in line to get the pieces of Chrysler's carcass. If an investor can't expect consistency, and the government keeps changing the rules on them, they are not going to want to invest without a larger risk premium.

                    Comment


                    • #25
                      Re: GM to Shut Down 2500-2600 Dealerships across the United States

                      Originally posted by cpw View Post
                      I think this is going to have long term effects that make capital more expensive for business; and hence reduce economic growth. The bondholders should not be third in line, they should be first in line to get the pieces of Chrysler's carcass. If an investor can't expect consistency, and the government keeps changing the rules on them, they are not going to want to invest without a larger risk premium.
                      Charles, your post makes perfect sense. Why then is the government doing exactly the wrong thing?

                      Comment


                      • #26
                        Re: GM to Shut Down 2500-2600 Dealerships across the United States

                        Originally posted by ToUtahNow View Post
                        I guess we will have to wait to see how it plays out. Obama just offered the UAW a 55% controlling interest of Chrysler pre-bankruptcy. If it had not been for the 30% speculators holding out for a fair shanke this would have been a different game
                        Obama's biggest roadblock pre-bankrupcy was the handful of Chrysler's 46 lenders and he publicly portrayed them as obstructionists/speculators who put their demands for repayment ahead of preserving the company and the jobs of its workers.

                        Next up is General Motors who have creditors that number in the tens of thousands and include pension funds that bought the company’s unsecured bonds. These bondholders have no claim on the company’s plants or inventory, but they should attract more sympathy than Chrysler’s Wall Street obstructionists/speculators/lenders did.
                        Last edited by reConx; 05-03-2009, 01:50 PM.

                        Comment


                        • #27
                          Re: GM to Shut Down 2500-2600 Dealerships across the United States

                          Originally posted by Frankiarmz View Post
                          Charles, your post makes perfect sense. Why then is the government doing exactly the wrong thing?
                          I wish I knew ... they are in effect talking out of both sides of their mouth. Trying to create "public/private" investment partnerships, yet at the same time making it so that if you engage in something like that you'll have compensation restrictions and the government can fire your CEO at will. Telling the banks they need to lend more ... but then subjecting them to these stress tests, so they need to preserve more capital. Saying they want the taxpayers to be have a share of the bank's future ... but not wanting some banks to pay back TARP before others.

                          Comment


                          • #28
                            Re: GM to Shut Down 2500-2600 Dealerships across the United States

                            The situation is worrisome but we should go back to square one. No matter whether Obama is good for you or not, he's the fella who destroyed the US automotive industry. The US automotive industry (both management and the unions) did.

                            It looks like we're be driving these soon:



                            Italian design, made in Poland, eventually and hopefully made in the US and Canada. Kinda smallish if you ask me, Not sure how I'll haul a screw driver from Home Depot in this thing, let alone a TS blade. Maybe with a trailer. The "car" is about the size of Chevy Monte Carlo's trunk
                            In order to understand recursion, one must first understand recursion.

                            Comment

                            Working...
                            X