Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Page 1 of 2 12 LastLast
Results 1 to 15 of 30
  1. #1
    Banned! CaptainVonDoom's Avatar
    Join Date
    01.30.12
    Posts
    1,064
    Last Online

    01.09.13 @ 04:01 PM
    Likes
    0
    Liked 1 Time in 1 Post

    Default Forbes: General Motors Is Headed For Bankruptcy -- Again

    "Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion."

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

  2. #2
    Forum Frontman fudd's Avatar
    Join Date
    02.22.08
    Age
    38
    Location
    Earth
    Posts
    14,266
    Favorite VH Album

    Fair warning, 5150
    Favorite VH Song

    HAIL, love walks in, 5150
    Last Online

    @
    Likes
    1,317
    Liked 6,317 Times in 3,175 Posts


    Premium Member

    Donor

    Default

    Good. Their cars are shit and the unions need to be abolished. There's no more sweatshops.

  3. #3
    Atomic Punk Dave's Dreidel's Avatar
    Join Date
    01.10.05
    Age
    47
    Location
    Kate Upton's Closet
    Posts
    37,872
    Favorite VH Album

    Alex, Dave, Ed and Mike
    Favorite VH Song

    The songs with Ed on them
    Last Online

    12.13.17 @ 07:15 AM
    Likes
    3,501
    Liked 18,121 Times in 8,949 Posts

    Default

    Yeah, but the government can afford to sit on that stock. It's an unrealized loss.

    However, as GM keeps losing market share, the possibility of another GM bankruptcy looms large.

    It shouldn't have been saved the first time in my humble opinion. It is obviously a failed company. BMW, Hyundai, Honda, etc. etc. can make automobiles in this country that sell, but GM cannot.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  4. #4
    Atomic Punk
    Join Date
    01.29.02
    Age
    49
    Location
    somewhere over the rainbow
    Posts
    22,946
    Last Online

    12.11.17 @ 04:37 PM
    Likes
    842
    Liked 1,229 Times in 448 Posts

    Quote Originally Posted by Dave's Dreidel View Post
    BMW, Hyundai, Honda, etc. etc. can make automobiles in this country that sell, but GM cannot.
    Non-Union buildings... FOR NOW...


    DETROIT — The United Auto Workers union is positioning itself as a car company partner rather than an adversary as it renews a campaign to sign up workers at U.S. plants owned by foreign-based car companies.

    Yet Bob King, the union's president, says it will play tough with Toyota, Honda, BMW, Hyundai and others if they don't agree to secret ballot election principles that the union is backing. Companies that don't sign on to the principles will be branded in as human rights violators, King told an industry group last week.

    The UAW has had little success the past 30 years in organizing workers at U.S. factories owned by Japanese, Korean and German auto companies. The companies built factories mainly in southern states such as Tennessee, Alabama, Mississippi and Kentucky that are generally not as union-friendly as the UAW's home base around the Great Lakes. Many pay wages comparable to UAW-represented factories owned by Detroit automakers, but the foreign companies have avoided UAW work rules that can make plants less efficient.

    King, speaking at the Automotive News World Congress in Detroit, said the union has learned from the Detroit companies' near-death experience and has eliminated inefficient work rules, job classifications and other issues that foreign companies have feared. Instead, he said the union understands how globalization has made it necessary for the UAW to help auto companies make money by being more competitive.

    "We have paid a deep price for failing to learn this lesson quickly enough," King said. "The UAW has learned from the past, and we have embraced dramatic and radical change."

    As General Motors, Chrysler and Ford faced severe financial problems in 2009, the union agreed under pressure from Congress to scrap the "jobs bank," in which laid-off workers got most of their pay indefinitely for doing nothing. Now they get some pay for up to two years but can lose it if they turn down a job at a different factory.

    The union also has agreed to let the companies pay newly hired workers around $15 an hour, about half the hourly wage of a longtime UAW worker.

    The union, though, still is seeking a "fair deal" with the companies, which means pay and benefits that can sustain a middle class lifestyle, King said.

    The UAW wants the companies to agree to a secret ballot election without threatening workers that the factory will close if it's unionized, and to give the union equal campaign time to talk with workers, King said.

    For those who don't agree, the UAW will hold demonstrations and campaign with consumers to make its human rights point, King said.

    "I would be very, very concerned if I was an auto manufacturer, of having young people, college students, young college graduates, feel that I was a human rights violator," he said.

    Toyota spokesman Mike Goss wouldn't comment on King's speech. Messages were left with BMW and Hyundai officials.

    At the Detroit auto show earlier this week, a top Honda executive said the decision on joining the UAW is up to the workers.

    "They've never seen the need, so far, to have anybody intervene on their behalf, work in partner with them, and I think that continues to be their decision, not ours," said John Mendel, executive vice president of sales for American Honda, which has several factories in Central Ohio.

    The UAW is pushing for additional members as membership has fallen from a high of 1.5 million in 1979 to around 350,000.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  5. #5
    Emperor of VHLinks.com Brett's Avatar
    Join Date
    09.02.99
    Age
    46
    Location
    Somewhere Near LA
    Posts
    68,698
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Unchained
    Last Online

    12.13.17 @ 12:45 AM
    Likes
    1,263
    Liked 11,554 Times in 4,923 Posts

    Default

    GM is a joke.
    Webmaster
    VHLinks.com - Your Van Halen Internet Resource Guide
    http://www.vhlinks.com

    JamToThis.com
    Audio/Video Trading Community
    Tons of Van Halen!

  6. #6
    Atomic Punk Dave's Dreidel's Avatar
    Join Date
    01.10.05
    Age
    47
    Location
    Kate Upton's Closet
    Posts
    37,872
    Favorite VH Album

    Alex, Dave, Ed and Mike
    Favorite VH Song

    The songs with Ed on them
    Last Online

    12.13.17 @ 07:15 AM
    Likes
    3,501
    Liked 18,121 Times in 8,949 Posts

    Default

    Yeah, I am sure BMW and Honda are scared shitless by the UAW.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  7. #7
    Atomic Punk edwardv's Avatar
    Join Date
    12.13.01
    Age
    59
    Location
    hanover pennsylvania
    Posts
    10,031
    Favorite VH Album

    diver down
    Favorite VH Song

    drop dead legs
    Last Online

    12.12.17 @ 05:40 PM
    Likes
    4,479
    Liked 2,383 Times in 1,487 Posts


    Premium Member

    Default

    nobody should have been saved because the next crisis is going to be worse
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  8. #8
    Atomic Punk lovemachine97(Version 2)'s Avatar
    Join Date
    06.05.03
    Location
    Southern California
    Posts
    13,968
    Last Online

    12.13.17 @ 07:09 AM
    Likes
    814
    Liked 3,111 Times in 1,822 Posts


    Premium Member

    Default

    Funny, everyone talks about the workers' jobs that were saved, but no one mentions the American Toyota worker whose hard-earned income was used to bail out a competitor that was about to fail.

    Of course, had he kept that money, where would he have spent it? What business lost out on money because it was used for GM?
    Last edited by lovemachine97(Version 2); 08.16.12 at 12:15 PM.

  9. #9
    Forum Frontman fudd's Avatar
    Join Date
    02.22.08
    Age
    38
    Location
    Earth
    Posts
    14,266
    Favorite VH Album

    Fair warning, 5150
    Favorite VH Song

    HAIL, love walks in, 5150
    Last Online

    @
    Likes
    1,317
    Liked 6,317 Times in 3,175 Posts


    Premium Member

    Donor

    Default

    I will never buy an American car until the unions are gone. Bought my fiance' a 2006 Pontiac G6 and it was the biggest piece of shit. Had 5 service visits in only 12k miles. And they wouldn't cover it under lemon law after the steering column had to be replaced 3 times. I have had 2 Honda Civics and 3 Honda Accords and recently bought my Fiance' a 2012 Volkswagen Jetta GLI and they have all been phenominal cars. My next car is probably going to be a Volkswagen Jetta or Passat. For the money VW makes excellent cars and they're made in Tennessee right down the road from where I live. Right now I have a 2008 Honda Accord V6 6-speed coupe and I love it. Gets excellent fuel economy and its fast as shit.

  10. #10
    Good Enough pal1800's Avatar
    Join Date
    10.30.07
    Age
    45
    Location
    Mandeville, LA
    Posts
    1,731
    Favorite VH Album

    Too hard to choose
    Favorite VH Song

    Too hard to choose
    Last Online

    06.02.16 @ 09:13 AM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    No surprise here. Insanity to think you can spend more than a company can possibly make and continue to stay in business.

  11. #11
    Forum Frontman It's Mike's Avatar
    Join Date
    03.26.06
    Age
    43
    Location
    Vaughan, Ontario, Canada
    Posts
    34,092
    Favorite VH Album

    like them all, no favourite
    Last Online

    12.13.17 @ 07:05 AM
    Likes
    1,314
    Liked 6,678 Times in 3,703 Posts

    Default

    This can't be good for the CAW who's currently negotiating new deals with the big 3.

  12. #12
    Baluchitherium Scott's Avatar
    Join Date
    10.01.99
    Age
    47
    Location
    Canada
    Posts
    4,238
    Favorite VH Song

    Humans Being
    Last Online

    12.13.17 @ 06:44 AM
    Likes
    470
    Liked 741 Times in 408 Posts


    Premium Member

    Default

    Quote Originally Posted by edwardv View Post
    nobody should have been saved because the next crisis is going to be worse
    Chysler is doing well actually. I'll argue that they should have been saved...they were managed incredibly poorly by Daimler - who gutted them - then sold them to Cebrus - who gutted them even worse. Now they have car folks running them, and they're doing well. They hunkered down, came up w/ a plan and followed through. I have ZERO issue with that.

    GM...some of their products are good - and I like, Camaro, new Regal / Lacross, Volt (yes, I like it - it's a great car and they should be proud), ATS, CTS, Equinox...however I do see signs of them reverting back to weird designs...not a fan of the Impala.
    Winners come and go; legends are forever.

  13. #13
    Atomic Punk lovemachine97(Version 2)'s Avatar
    Join Date
    06.05.03
    Location
    Southern California
    Posts
    13,968
    Last Online

    12.13.17 @ 07:09 AM
    Likes
    814
    Liked 3,111 Times in 1,822 Posts


    Premium Member

    Default

    Quote Originally Posted by Scott View Post
    Chysler is doing well actually. I'll argue that they should have been saved...they were managed incredibly poorly by Daimler - who gutted them - then sold them to Cebrus - who gutted them even worse. Now they have car folks running them, and they're doing well. They hunkered down, came up w/ a plan and followed through. I have ZERO issue with that.

    GM...some of their products are good - and I like, Camaro, new Regal / Lacross, Volt (yes, I like it - it's a great car and they should be proud), ATS, CTS, Equinox...however I do see signs of them reverting back to weird designs...not a fan of the Impala.
    Even if I agreed with the fundamental idea of the bailouts, which I don't, but even if I did, the whole illegality of it and expansion of executive power really bothers me.

  14. #14
    Atomic Punk bsbll4's Avatar
    Join Date
    02.18.03
    Age
    34
    Location
    St. Louis, MO
    Posts
    8,637
    Favorite VH Album

    Van Halen/ADKOT
    Favorite VH Song

    Hot For Teacher
    Last Online

    12.13.17 @ 07:16 AM
    Likes
    568
    Liked 2,220 Times in 1,120 Posts


    Premium Member

    Default

    Eh. I don't get the alarmism. I mean, yeah, GM is trending downward, but it's not like The People were counting on that stock being able to be sold at a profit. Taxpayers wrote this off 3 years ago as a bailout (handout) to the auto industry, whose unions loyally vote democrat. Like TARP, you can view this as one of those damned-if-you-do, damned-if-you-don't type scenarios. Bailing out the auto-industry was a clusterfuck anyway, but not doing so may have jeopardized the supplier industry.

    I still think that's all bunk and that the market would sort it out, but there are certainly people that disagree with that notion.
    CNN may think my opinion matters, but you shouldn't.

  15. #15
    Baluchitherium Ted Van Halen's Avatar
    Join Date
    01.07.04
    Age
    48
    Location
    All up in there
    Posts
    4,377
    Favorite VH Album

    Pirates of the Carribean
    Favorite VH Song

    How Many Say Aye?
    Last Online

    12.13.17 @ 04:50 AM
    Likes
    2,295
    Liked 1,625 Times in 871 Posts


    Premium Member

    Donor

    Default

    Quote Originally Posted by Scott View Post
    Chysler is doing well actually. I'll argue that they should have been saved...they were managed incredibly poorly by Daimler - who gutted them - then sold them to Cebrus - who gutted them even worse. Now they have car folks running them, and they're doing well. They hunkered down, came up w/ a plan and followed through. I have ZERO issue with that.

    GM...some of their products are good - and I like, Camaro, new Regal / Lacross, Volt (yes, I like it - it's a great car and they should be proud), ATS, CTS, Equinox...however I do see signs of them reverting back to weird designs...not a fan of the Impala.
    I work in the auto supply industry and was/am against bailing any of them out. I take particular umbrage w/ Chrysler as they were sold to Fiat at a loss of Billions w/ a B & Fiat was loaned the money for the purchase by Treasury so the taxpayer takes it in the shorts yet again. I dare say that the money Fiat borrowed from us was borowed from China.
    -TVH-


    If there must be trouble, let it be in my day, that my child may have peace. -Thomas Paine


    What is government itself but the greatest of all reflections on human nature? - James Madison


    Any man who thinks he can be happy and prosperous by letting the Government take care of him better take a closer look at the American Indian. - Henry Ford

 

 

Similar Threads

  1. gm bankruptcy
    By the insider in forum VH Fans Meeting Place (Non-Music)
    Replies: 160
    Last Post: 05.04.14, 10:54 AM
  2. Diesel Police Car for Police | Carbon Motors Corporation
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 15
    Last Post: 08.06.09, 04:56 PM
  3. Six Flags files for bankruptcy
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 29
    Last Post: 06.15.09, 03:34 PM
  4. Forbes 100 - a little VH trivia
    By Lightning Fingers in forum Main VH Discussion
    Replies: 18
    Last Post: 06.20.05, 06:32 PM
  5. forbes top 10 artist for '04'
    By KRAMER5150 in forum Main VH Discussion
    Replies: 4
    Last Post: 06.17.05, 10:31 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •