2014 GM trucks recalled. DON'T DRIVE!

[Monster5601]

What really rubs me is us as a government allowed GM to get special treatment. We all know what/who that goes back to. Bankruptcy and normal treatment is what should have happened then they would have earned my respect as a responsible company. Instead nothing changed from upper management to the UAW.

If GM went down, so would the entire supplier network and no one would be making vehicles. When vehicle recovery did happen, none of us could afford to buy a new one. Millions of job losses, hundreds of towns and states affected, etc.

But focus on just what GM is, it is a small collection of people sitting on the top floor and a board of directors, and I agree, nothing that I can see has changed with in GM management and you are right, they will fail again and in short time unless real change happens and in short time.

 

[Diamondpilot]

If GM went down, so would the entire supplier network and no one would be making vehicles. When vehicle recovery did happen, none of us could afford to buy a new one. Millions of job losses, hundreds of towns and states affected, etc.

But focus on just what GM is, it is a small collection of people sitting on the top floor and a board of directors, and I agree, nothing that I can see has changed with in GM management and you are right, they will fail again and in short time unless real change happens and in short time.

False. That's what they want you to believe so they could justify buying the votes.

I have 13.5 years of service as the corporate pilot for a auto parts supplier making glass and my father has 40 plus years as VP of a supplier making radiator and gas caps and fuel components.

Chris

 

[ruffdog]

"Ford had already mortgaged its assets in 2006 to raise $24.5 billion." Have they paid any of this off yet?

 

[Diamondpilot]

"Ford had already mortgaged its assets in 2006 to raise $24.5 billion." Have they paid any of this off yet?

How is this the same? SMH

Chris

 

[deerefan]

DP and I agree and disagree on several points. On thing I do agree with him on- let GM operate like any other business- go bankrupt, restructure, start over. FYI, I owned and still own GM products as well as Ford. Have no bias either way.

 

[s219]

Ford did mortgage the farm back when Mullaly came on board, as part of a restructuring. They did it on their own terms, and with banks and private entities. It was basically a loan to keep them afloat, using their properties as collateral.

GM's baillout was a loan from the government. It wasn't done under the best conditions or circumstances. In the end though, it was also a loan to keep them afloat.

I certainly credit Ford for taking action on their own, proactively (and Mullaly gets a lot of credit, as he had to make a major culture change there -- the old Ford probably would have failed). But they also had gotten into a pickle where they could not cover operational costs without loans. Looking at the big picture, all of the Big 3 were in trouble, and none could have survived without loans. Not sure it really matters who/where/when the loan came from, or whether a private bank or the government pocketed the interest. I'm not going to overlook Ford digging themselves into a hole just because private banks helped them dig out, versus the government helping out in GM's case. That's like a side issue to me.

 

[Diamondpilot]

Ford did mortgage the farm back when Mullaly came on board, as part of a restructuring. They did it on their own terms, and with banks and private entities. It was basically a loan to keep them afloat, using their properties as collateral. GM's baillout was a loan from the government. It wasn't done under the best conditions or circumstances. In the end though, it was also a loan to keep them afloat. I certainly credit Ford for taking action on their own, proactively (and Mullaly gets a lot of credit, as he had to make a major culture change there -- the old Ford probably would have failed). But they also had gotten into a pickle where they could not cover operational costs without loans. Looking at the big picture, all of the Big 3 were in trouble, and none could have survived without loans. Not sure it really matters who/where/when the loan came from, or whether a private bank or the government pocketed the interest. I'm not going to overlook Ford digging themselves into a hole just because private banks helped them dig out, versus the government helping out in GM's case. That's like a side issue to me.

The real issue is GM was given special treatment while no changes were made to either management and the UAW. The Government had no business showing favoritism, being involved in the auto industry, and changing the bankruptcy rules.

Chris

 

[wawajake]

I see someone still lives in a world of pixy dist and Ford exhaust where the Government does not loan any money to any small businesses , big businesses , students, universities, hospitals, healthcare providers , financial institutions etc etc.......they all do it on their own. ..........and any problem in the world was likely caused by the big bad unions . Unfortunately looking through those rose coloured glasses causes one to missunderstand many other issues.

 

[two_bit_score]

If GM went down, so would the entire supplier network and no one would be making vehicles. When vehicle recovery did happen, none of us could afford to buy a new one. Millions of job losses, hundreds of towns and states affected, etc.

But focus on just what GM is, it is a small collection of people sitting on the top floor and a board of directors, and I agree, nothing that I can see has changed with in GM management and you are right, they will fail again and in short time unless real change happens and in short time.

False. That's what they want you to believe so they could justify buying the votes.

I have 13.5 years of service as the corporate pilot for a auto parts supplier making glass and my father has 40 plus years as VP of a supplier making radiator and gas caps and fuel components.

Chris

DP, what he says about the potential affect on the suppliers seems to have some validity. You can goole search and several articles do come up that make that assertion.

 

[two_bit_score]

The real issue is GM was given special treatment while no changes were made to either management and the UAW. The Government had no business showing favoritism, being involved in the auto industry, and changing the bankruptcy rules.

Chris

I wouldn't disagree with that. :thumbsup:

However, that is a big shift from : "Ford - built without your tax dollars."