"New" GM doesn't want to repair products of "Old" GM

[Don87]

Some will never see the light................no matter how bright said light is:thumbsup:

 

[massey990]

I can. I don't see any candidate emerging from the pack of wannabes that's worth beans. That includes your Governor Perry. Perry is an idiot.

If nothing viable (candidate wise) surfaces prior to the election in 2012, I'll vote for Obama, again. I voted for Obama in 2008. I liked Ron Paul but the party threw him under the bus and I had no problem with McCain but I have a big problem with Sarah Palin. If Ron Paul and McCain were running mates in 2008, we would be in an entirely different situation than we are now, because, Obama would have lost.

The only and I mean the only viable candidate (excepting Dr. Paul) is the CEO of Godfather's Pizza, a black man and a smart savvy political student. However the media is shunning him (just like Dr. Paul) and the bottom line (like it or not) is the media elects the President.

I don't believe the populus is smart enough to actually make an informed decision about the President or other leaders without the media inputting their jilted opinions.

Whichever party (Repukes or Tea Baggers) foister a candidate, that candidate will have to be forceful, politically savvy, an excellent orator and be able to sell his agenda to the multitudes of which many are receiving public assistance, something that Obama is counting on. Obama is all about the public dole and the recipients will, unless swayed by something more lucrative and less stressful (if that exists), will vote for their provider....Obama

Far as the bailouts and warranty problems, it's pretty much accepted practice. Look at K-Mart. Look at the hundreds of stockholders that lost everything when K-Mart reorgainzed, issued new stock, bought into Sears and emerged as a viable company. All the previous stockholders...were now holding worthless stock certificates that were nothing more than toilet tissue.

based on the content of the above you have no business calling anyong else an idiot.:laughing:

 

[5030]

based on the content of the above you have no business calling anyong else an idiot.:laughing:

My opinion is obviously not yours but then I would not stoop to calling you an idiot.... Unless you want me to.

 

[massey990]

My opinion is obviously not yours but then I would not stoop to calling you an idiot.... Unless you want me to.

Just what is it you do not understand about the definition of the word ANYONE

 

[timswi]

Ron Paul is great on constitutional and monetary issues, but he's nut's on foreign policy. I'm not saying we should be doing everything that we do, but he wants to pull a lead banket over out collective heads and hide.

He'd be great as a member of a Republican cabinet. Sadly, there's no one in the race from the R side really gives me the warm a fuzzies. I'll stay home before I'd ever vote for Obama.

There is record amounts of money sitting on corporate balance sheets that isn't going to move until the opressive regulatory environment is sorted out. Unfortunately that could take years.

The government should lightly regulate the markets, but not control them. Today's administration wants every citizen covered in bubble wrap in order to protect them form every possible risk...That just ain't America. Most of us aren't stupid.

 

[Travelover]

I think the moderators have abdicated their responsibility to steer threads away from politics. It seems like every other thread these days degrades into some kind of a political squabble and or rant. :confused2:

 

[mojoinco]

Some corrections (and thoughts):

1. Chrysler has only been though one bankruptcy. In the 80's Chrysler got the Feds to guarantee their corporate bonds. And paid the Government back the costs for the underwriting. Still tastes bad though to have government interference.

2. Sears Holdings bought K-Mart. Actually both were owned (or controlled by) the same guy, a big money guy (sorry for the poor description) or investor. He folded K-Mart into Sears Holdings (at least that's the way I remember it).

3. Most bankruptcies that lead to an immediate restructuring are pre-arranged so that they have bridge funding, likely follow on funding sources, and who is going to have senior rights to any residual value/capitol is distributed (stock or cash). It is very well understood who gets to stand where in the money line. Employees, un-secured creditors, stockholders are last. In other words, their is very little to be decided if the lawyers have done a good job, other than the formalities of time line and a judges approval.

4. One of the major parts of a bankruptcy is product support. As I recall, there is a Federal Trade Commission requirement (at least that's where I think it comes from) that a product be supported for a number of years (even if it means at the cost of the user/consumer/owner). There are companies that specialize in this and charge for the service to the bankrupt company. Clearly that is where "Old GM" and "New GM" come into the picture. "Old GM" is also used to house all the old stocks, and all the claims against pre-bankruptcy GM. It is common for this as their has to be a shell or legal entity to reference things to. There are companies that even buy your worthless stocks so you have a "loss" to apply to your taxes. Trust me, there is no money in it, just an entity that "owns" this valueless stock (this way you can show a loss on the original purchase).

5. Warranties have a value just like buildings, tooling, etc. They are valued as liabilities, as are pension funds (usually). And are usually dismissed as null and void. Works for GM, works for the local contractor.

6. I am sure the GM bankruptcy was well packaged in advance with general agreement by all parties. Unfortunately, it is difficult to see "US Govt" take the unprecedented roll of investor to this deal. And yes, it stank of buying votes or payback to the Unions for supporting Obama. That doesn't mean it has some value to the country, or even several countries (I suspect that European and Asian rim countries had an opinion on this and consultations with our own Govt). And don't forget that PBGC: Pension Benefits Guarantee Corp. It is a wholly Federally owned and operated 'company' that takes over bankrupt pension plans (usually gets some money) which it administers based on any recovered assets (and presumably any investment returns on the money that was recovered) and determines and pays the beneficiaries anything it can from these assets.

7. Yes, many of us prefer to buy domestically built products. Clearly that is not by itself a factor, or ToyHonNissSubHyandBmwMercedesVW wouldn't be selling so well they built factories here. Incidentally, they all have final assembly plants here. Dodge seems to build all there 3/4 ton + trucks in Mexico. The 2005 Duramax (Isuzu engine) was assembled in the US. I believe that is not uncommon in most countries to prefer domestic products, but that doesn't mean there are not conditions attached to that.

To end my thoughts, there really aren't many 'badly built' cars/trucks sold in the US anymore. Merely a few with particular issues (that unfortunately require time to recognize) and a few that seem to have very few serious issues. Most issues these days are really not important (darn radio, cruise control, cup holders) when compared to cars of 30 years ago (darn, I am getting old as I remember new cars of 30 years ago).

 

[davygp38]

I can. I don't see any candidate emerging from the pack of wannabes that's worth beans. That includes your Governor Perry.

If nothing viable (candidate wise) surfaces prior to the election in 2012, I'll vote for Obama, again. I voted for Obama in 2008. I liked Ron Paul but the party threw him under the bus and I had no problem with McCain but I have a big problem with Sarah Palin. If Ron Paul and McCain were running mates in 2008, we would be in an entirely different situation than we are now, because, Obama would have lost.

The only and I mean the only viable candidate (excepting Dr. Paul) is the CEO of Godfather's Pizza, a black man and a smart savvy political student. However the media is shunning him (just like Dr. Paul) and the bottom line (like it or not) is the media elects the President.

I don't believe the populus is smart enough to actually make an informed decision about the President or other leaders without the media inputting their jilted opinions.

Whichever party (Repukes or Tea Baggers) foister a candidate, that candidate will have to be forceful, politically savvy, an excellent orator and be able to sell his agenda to the multitudes of which many are receiving public assistance, something that Obama is counting on. Obama is all about the public dole and the recipients will, unless swayed by something more lucrative and less stressful (if that exists), will vote for their provider....Obama

Far as the bailouts and warranty problems, it's pretty much accepted practice. Look at K-Mart. Look at the hundreds of stockholders that lost everything when K-Mart reorgainzed, issued new stock, bought into Sears and emerged as a viable company. All the previous stockholders...were now holding worthless stock certificates that were nothing more than toilet tissue.

Right on!:thumbsup:

 

[Illini22]

I have an 03 suburban and an 04 silverado, both 4x4 3/4 ton. They have been the best vehicles I've ever owned (50 years old). I've had the 2 front wheel bearing go on the truck, at 95k and 113k. The sub. Flywheel cracked under warranty and that's about it. Very reliable and comfortable for long drives. As I begin to approach 150k I assume more things will brake. The body's have held up very, very well. I am particularly concerned about the cab corners on the extended cab. I've seen 02's that have started to rust. My corners are solid so maybe they did something different in 03 or 04. I would defiantly look at GM again, while they do not make a perfect car, to me they make a very good one. I will also look at the other brands, as I've owned fords, hondas, jeeps ( the cj's were fun but pure junk, except drivetrain). I also have a 99 caravan 3.3. It's pushing 121k now and starting to show it's age. The power steering pump is starting to leak, front end starting to make some noise, but has been a decent car. It defiantly will not last as long as the sub and silverado. And it shouldn't, to me it's a throw away vehicle where the sub and silverado are not, as far as repowering etc. My son just bought a 01 Honda Crv allwheel drive with 170k. It's a nice vehicle and runs well. It reminds me of the van, light weight, tin cannish, lots of road noise etc. We hope it will go 300k with some maintenance.
As my kids move on our needs are changing and I can't wait to get smaller

 

[Diamondpilot]

Nothing surprises me with that outfit. Two I owned I had to kick and scream to get warranty work done and that was 21 years ago and 6 years ago.

Chris.