“We are acting as reluctant shareholders, because that is the only way to help GM succeed,” President Obama said today about General Motors’ bankruptcy filing. But Obama isn’t reluctant enough for some. “Although the bureaucrats disclaim any interest in micromanaging the automaker, it isn’t hard to imagine them nudging and guiding decisions in directions they would like them to go,” wrote Alex Taylor of Fortune magazine. A Wall Street Journal editorial said that Obama “has made himself GM’s de facto CEO. Our guess is that he’ll come to regret it as much as taxpayers will.”
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NEW YORK (CNNMoney.com) — General Motors unveiled plans to close 14 factories and three warehouses Monday in a move that could ultimately slash up to 20,000 workers from its payrolls, as the company undergoes an historic bankruptcy restructuring.
You suppose Obama will be subtracting these 20,000 jobs from his count of jobs
He created? Or maybe he will start a separate chart altogether to reflect the jobs He
lost?
April 2009 Consumer Reports car issue
If anyone was looking for a reason to invest in American union made automobiles – you are going to be sorely disappointed.
Top ten cars: 9 foreign 1 American (Chevy Corvette)
Bottom worst cars: 9 American 1 foreign
Best cars under 20K: 8 foreign 2 American
Best overall fuel economy: 10 foreign 0 American
Worst MPG: 11 American 2 foreign
Best comfort: 5 foreign
Best off road: 4 foreign 1 American
Most fun to drive: 5 foreign 1 American
Best overall safety: 6 foreign 1 American
Best car values in class:
Small, family, upscale, sporty, minivans, small SUV’s, midsize SUV’s, Pickemup trucks:
NOT ONE AMERICAN BUILT CAR MADE ANY OF THE ABOVE CATEGORIES.
<i?This year CU reports on the report card of the top 15 auto manufacturers in the world.
Ford was 12th
GM was 14th
Chrysler was dead last 15th
On the reliability and test scores:
All three American manufacturers were at the bottom of the chart.
Car reliability by brand:
Lincoln 11th
Mercury 15th
Ford 17th
Buick 18th
Chevy 24th
GMC 26th
Jeep 28th
Pontiac 29th
Dodge 30th
Cadillac 31st
Chrysler 32nd
Saturn 33rd
Best used cars by category:
Small: 8 foreign 1 American
Family: 5 foreign 2 American
Upscale: 10 foreign 2 American
Luxury: 4 foreign
Sporty: 13 foreign 1 American
Minivans: 2 foreign 0 American
Small SUV: 4 foreign 0 American
Mid/large SUV: 13 foreign 0 American
Pickemups: 5 foreign 0 American recommended
This might be a clue for investors to not buy stock in American automakers. Only the US Government would do something this stupid.
Considering the GM decisions over the last few decades, it can only be a blessing in disguise!
That darn Obama, he’s making GM produce the small car in America instead of building it in China and shipping it to America! How uncapitalistic can you get?
” “Although the bureaucrats disclaim any interest in micromanaging the automaker, it isn’t hard to imagine them nudging and guiding decisions in directions they would like them to go,”
YA THINK??????
Obama told the taxpayers they had to fork over 30 billion dollars to keep GM out of bankruptcy.
Obama and his flying monkeys knew it wouldnt work. They were simply buying into the game so they could “control” the bankruptcy as a way of protecting the interests of the UAW(and as a payoff).
Ditto for Chrysler.
GM = Government Motors
The bankruptcy you’re seeing now, is not the bankruptcy you repubs and your leaders would’ve had, it’d been a chapt. 7.
He won’t count the 20,000 lost, just the tens of thousands that he saved.
I’ll bet Ford owns the domestic market in a couple years and sends O’Bama a ‘Thank You’ card.
Ford’s going to have their hands full competing with a company that has no debt, and adequate funding.
Phantom,
Ford won’t be building go-carts.
“That darn Obama, he’s making GM produce the small car in America instead of building it in China and shipping it to America!”
Too funny Phantom. You must drink that koolaid by the gallon.
The one plant is a political ploy so Obama can continue to scream, “I saved jobs! I created jobs!”
Do the math. OBama is closing 14 factories
20,000 workers are loosing their jobs.
And Phantom takes the bait; hook, line, and sinker…. even adding a little spin about saving jobs from China. How nice!
“just the tens of thousands that he saved”
Documentation please. (was this koolaid blackcherry?)
“Ford’s going to have their hands full competing with a company that has no debt, and adequate funding.”
And isn’t that special? The one and only remaining US Automaker to NOT take a handout, is going to have to compete against the government sponsored Government Motors.
You see that as a “good thing?” nuts.
They would’ve all been shuttered if not for Obama.
P.S., your bait is east to steal off of the hook. Quit fishing in such deep waters.
Phantom
Posted June 1, 2009 at 1:26 pm | Permalink
P.S., your bait is east to steal off of the hook.
==========================================
My bait was west.
Ford better make vehicles that last…just for a change.
So all this failure and these job losses have only begun and happened on Obama’s watch? Everything has been peachy keen over the past 8 years? Lots of jobs? No plants of any kind closing? Everything–and I do mean EVERYTHING–has come to pass in that past 4 months?
And you talk about Koolaide?
This place is always good for grins and giggles.
Ford better make vehicles that last…just for a change.
=================================
I can agree with that.
The sad thing is, ANTI, car manufacturers have been making mostly throw-away cars for years. And the days of shade tree mechanics are almost non-existent now. I’m guessing technology is the main reason for that last, but also that makers garner more money on cars than on repairs, although having paid the cost of those repairs does make me a tad dubious.
“They would’ve all been shuttered if not for Obama.”
And guess what? Ford would have flourished!!!! Private companies would have bought up the productive pieces of GM and we would have seen new profitable and efficient automakers.
Not now. Government Motors will compete with the shaky Ford Corporation.
The government should have stayed out. But, if they HAD to do something: They should have given us each a certificate worth a share of the 50,000,000,000.00 to buy an American made car. And given us a deadline.
Predestined
Show us the job loss numbers for 2008. Show us the unemployment rate.
Now, look at today under Obama.
Predestined
Posted June 1, 2009 at 1:55 pm | Permalink
The sad thing is, ANTI, car manufacturers have been making mostly throw-away cars for years. And the days of shade tree mechanics are almost non-existent now. I’m guessing technology is the main reason for that last, but also that makers garner more money on cars than on repairs, although having paid the cost of those repairs does make me a tad dubious.
============================
Yep.
That is why I try to buy a vehicle that I am able to repair myself. It is not an easy task to find those kinds of autos anymore..
“your bait is east to steal off of the hook. Quit fishing in such deep waters.”
Well that’s your problem in life Phantom. You don’t fish!!!!
I don’t believe the depth of the water has anything to do with stealing the worm. You may have to be more sensitive to nibbles in deeper water (which is why I recommend a slip sinker) More likely, it’s hook size and type.
If you keep getting caught, they are probably using the right size hook for a bigmouth. That’s sorta like bass fishing. You use a big hook for big mouth bass, and small hook for smallmouth.
“It is not an easy task to find those kinds of autos anymore..”
If you are talking a newer car – I think it’s darn near IMPOSSIBLE!!!!
American_Way
Posted June 1, 2009 at 2:02 pm | Permalink
“It is not an easy task to find those kinds of autos anymore..”
If you are talking a newer car – I think it’s darn near IMPOSSIBLE!!!!
=====================================
The newest vehicle I’ve ever owned was 5 years old.
(I’m a tight wad)
But you’re rig is defensless against the Great White Shark!
I used to buy one year old models. Then, I got the bug for one of the hybrids. Bought the 2003 Honda Civic Hybrid in August 2002. It was only the second new car in my life (I’m over 50 less than 100).
Still driving that now seven years old. Also have an older 1995 pick-em-up truck (to pull my boat and haul stuff for me and my adult kids).
I am hoping for a 2010 Prius (Hybrid III). But so far only one on the local lots and the bottom line is a little higher than I expected.
Eventually, your 5 year old car will still have so much computer crap on it you can’t work on it anymore. And that’s not the only problem. I had a headlight go out on my civic. Easy enough to change a bulb right. NOOOOOOOOOOOOOOOOOOOO. There is no humanly way an adult male can get his fat hand twisted into the small space to remove the old bulb and CAREFULLY inserting the new one (without touching the new bulbs glass).
I had to get my wife. It was humiliating! I even had to hold the flashlight!!
I used to buy one year old models. Then, I got the bug for one of the hybrids. Bought the 2003 Honda Civic Hybrid in August 2002. It was only the second new car in my life (I’m over 50 less than 100).
Still driving that now seven years old. Also have an older 1995 pick-em-up truck (to pull my boat and haul stuff for me and my adult kids).
I am hoping for a 2010 Prius (Hybrid III). But so far only one on the local lots and the bottom line is a little higher than I expected.
Eventually, your 5 year old car will still have so much computer cr*p on it you can’t work on it anymore. And that’s not the only problem. I had a headlight go out on my civic. Easy enough to change a bulb right. NOOOOOOOOOOOOOOOOOOOO. There is no humanly way an adult male can get his fat hand twisted into the small space to remove the old bulb and CAREFULLY inserting the new one (without touching the new bulbs glass).
I had to get my wife. It was humiliating! I even had to hold the flashlight!!
I used to buy one year old models. Then, I got the bug for one of the hybrids. Bought the 2003 Honda Civic Hybrid in August 2002. It was only the second new car in my life (I’m over 50 less than 100).
Still driving that now seven years old. Also have an older 1995 pick-em-up truck (to pull my boat and haul stuff for me and my adult kids).
I am hoping for a 2010 Prius (Hybrid III). But so far only one on the local lots and the bottom line is a little higher than I expected.
Eventually, your 5 year old car will still have so much computer cr*p on it you can’t work on it anymore. And that’s not the only problem. I had a headlight go out on my civic. Easy enough to change a bulb right. NOOOOOOOOOOOOOOOOOOOO. There is no humanly way an adult male can get his fat hand twisted into the small space to remove the old bulb and CAREFULLY inserting the new one (without touching the new bulbs glass).
I had to get my wife. It was humiliating! I even had to hold the flashlight!!
I used to buy one year old models. Then, I got the bug for one of the hybrids. Bought the 2003 Honda Civic Hybrid in August 2002. It was only the second new car in my life (I’m over 50 less than 100).
Still driving that now seven years old. Also have an older 1995 pick-em-up truck (to pull my boat and haul stuff for me and my adult kids).
I am hoping for a 2010 Prius (Hybrid III). But so far only one on the local lots and the bottom line is a little higher than I expected.
Eventually, your 5 year old car will still have so much computer cr*p on it you can’t work on it anymore. And that’s not the only problem. I had a headlight go out on my civic. Easy enough to change a bulb right. NOOOOOOOOOOOOOOOOOOOO. There is no humanly way an adult male can get his fat hand twisted into the small space to remove the old bulb and CAREFULLY inserting the new one (without touching the new bulbs glass).
I had to get my wife. It was humiliating! I even had to hold the flashlight!!
I had to get my wife. It was humiliating! I even had to hold the flashlight!!
==================================
LMFAO!
Ford will be competing against a federally subsidised GM and Chrysler.
And Ford will win. Because the Obama Borg will force GM and Chrysler to build what the Borg want you to drive.
Ford will build what YOU want to drive. And You will drive what You want to drive. And thus another lesson in the failing of centrally planned society.
Heckler: 100% correct.
Sorry about the double double posts. I don’t know how that happened. It was not intentional.
And Heckler is right. But if Obama gives a tax break to buy GM, that could hurt Ford.
But since we are all owners of GM now, shouldn’t we all get an employees or owners discount?
From The Economist-Oct/08: A recent study by the Cato institute a right wing think tank noted that in 2006 alone, $92 billion were spent subsidising business. $21 billon to agribusiness, the balance to people like IBM, General Electric, Boeing etc. Bush signed of on $25 billion for tht auto sector in October/08 after OKing about $700 billion to the finance sector. Nothing new here folks, but how come Obama is getting nailed for things that started before his watch? PS: Love GM, drove a Chevette for 7 years, a Celebrity for 10 years and my Lumina is 11 years old, no problems at all.
“Bush signed of on $25 billion for tht auto sector in October/08 ”
Sursum, I believe those were low interest loans. And the 25 was split between em.
Obama is purchasing 60% equity in GM and has inserted the government on the board with rights in the going concern. For 50 billion (count them) dollars.
Big difference than signing them a loan.
“Love GM, drove a Chevette for 7 years, a Celebrity for 10 years and my Lumina is 11 years old, no problems at all.”
Your in a minority. And got lucky on the cars you have had.
http://blogs.kansas.com/weblog/2009/06/some-more-reluctant-than-others-about-gm/comment-page-1/#comment-587447
you’re vice your
As bush America went, so went GM.
American_Way: I think you are right, I was referring to federal intervention into the market place as being rather a common occurance. Actually Bush got Canada to pony up another $13 billion and take a 12% equity. Not a penny from Mexico though, and guess where the future of that industry lies?
Hitler forced the manufacturing of a small car and limited what cars could be owned and to whom.
The mini-GM’s around the world did not go bankrupt. The G&M noted that GM Canada has satisfied it’s creditors but as a direct subsidary of GM USA, is part a parcel of the seemingly American generated problem. So if GM USA sinks so do they, hence the reason their government got involved in bailing out a “foreign” company to the tune of $13 billion or 20% of the US rescue plan. Lovely, foreign aid to guarantee jobs is the US.
Surprise! GM is going to be owned by them heathen Celestials! (aka the Chinese.)
FORD ANNOUNCES NEAR RECORD SALES!!!!
See what happens when businesses are run by businessmen and not presidents? Ford rocks and rolls on the death of the local competition. Natural progression of the business cycle.
And next up: The Obama CEO of GM is going to grind Ford into the dirt too. Watch my words.
The Obama Jalopy which nobody will buy.
http://www.nypost.com/seven/06032009/postopinion/opedcolumnists/obamas_jalopy_co__172267.htm