Is General Motors Worth Saving?

[mrsartis 10]

who would buy a ford and a gm? Japanese cars are better a little expensive but worth till its last breath..

[Trumplestiltskin 5,791]

Well it would seem we're in a once-in-a-lifetime situation here - so it would seem prudent to ask whether more (and more importantly - more lasting) damage to the economy will result from not propping up these companies rather than letting them fail.

Letting GM fail = Great Depression 2

That's how it would seem. Of course with the exchange rate going down (UK:US rate is around 1GPB:$1.5) its already become more expensive to do business here.

[Peikko 1,575]

No, next.

2,500,000 American jobs, Cleo.

Facaetious comment based on the fact that the likes of GM have everyone over a barrel, damned if they do, damned if they don't style. I don't like that, particularly in the light of the fact that after the 70's they should have made more efforts to increase efficiency. They are idiots!

[EstebanTrabajos 7]

Well it would seem we're in a once-in-a-lifetime situation here - so it would seem prudent to ask whether more (and more importantly - more lasting) damage to the economy will result from not propping up these companies rather than letting them fail.

Letting GM fail = Great Depression 2

give me a break, u r saying that the american economy rests on GM's shoulders??

Edited November 13, 2008 by TävôLuDô

[Heracles 417]

Both Ford and GM sell nice and reliable compact cars overseas. We should loan them the money with the condition that they will start building and selling them here. In the short term the UAW needs to step out of the way and allow the two manufacturers to import these small cars from other countries. The other thing is that they have great diesels engines overseas which get better mileage than the dam prius. These engines should have been here yesterday.

Edited November 13, 2008 by Aficionado

[mawilson 2,133]

No, next.

2,500,000 American jobs, Cleo.

Facaetious comment based on the fact that the likes of GM have everyone over a barrel, damned if they do, damned if they don't style. I don't like that, particularly in the light of the fact that after the 70's they should have made more efforts to increase efficiency. They are idiots!

Be that as it may, they still rescuing.

[Trumplestiltskin 5,791]

Diesel costs almost double the price compared with regular gasoline.

Perhaps someone can explain that - I thought in distillation you got more of the heavy fractions (i.e. it should be cheaper). Unless the difference is all tax.

[Peikko 1,575]

Probably, which makes it even more annoying!

[HAL 9000 96]

No, next.

2,500,000 American jobs, Cleo.

I tend to agree. I dislike GM's product but their 'footprint' is too large to allow them to go poof over night.

I wouldn't mind if GM dies a slow death, that would spread the impact out over a long period of time.

Or that they'd cater to a more intelligent (read, unelitist) trend in motorist needs instead of to old models of open highways and offroading. Sure, keep some product but by God... improve the product line. Perhaps that way they can earn being saved.

[Peikko 1,575]

That comment applies equally to both posts

[Heracles 417]

Diesel costs almost double the price compared with regular gasoline.

Perhaps someone can explain that - I thought in distillation you got more of the heavy fractions (i.e. it should be cheaper). Unless the difference is all tax.

I don't know the deal there either. The diesels are now cleaner burning and much more efficient.

Hence why they are so heavily used in Europe.

[Ban Hammer 13,352]

who would buy a ford and a gm? Japanese cars are better a little expensive but worth till its last breath..

ask my boss - he has a honda and already had major recall work done on his civic, along with having to replace tires due to the design flaw that started the recall.

[mawilson 2,133]

Well it would seem we're in a once-in-a-lifetime situation here - so it would seem prudent to ask whether more (and more importantly - more lasting) damage to the economy will result from not propping up these companies rather than letting them fail.

Letting GM fail = Great Depression 2

give me a break, u r saying that the american economy rests on GM's shoulders??

About 5% of the economy - 5% of US employment and 4% of GDP.

[IAMX 3,055]

Nope, let GM fall.

Why should I want to bail out an auto maker that made closed-door deals with oil companies to prevent Americans from progress when it comes to fuel efficiency -- efficiency they could have been reaping the benefits of if GM had the American people in mind over being Uncle Scrooge diving into his money bin. They chose to screw Americans by producing these gas guzzling cars while destroying their biggest progress on improving these standards which would have had them leaps and bounds over even Toyota and Honda had they continued to pursue it. Then we want to turn around and bail them out with tax money after taking it up the ### from them? #### GM. I don't care how many jobs are at stake. Americans seem to have a penchant for taking it straight up the crapshoot when it comes to stuff like this and it makes no sense. Don't we actually learn from mistakes?

Let the companies like Toyota and Honda that "get it" succeed. Let them build plants out here, let them give more job opportunities out here. I'm all for protectionism when a company is playing fairly in the local market. These people were not, and took advantage of Americans with the "American" brand nonsense. No surprise, while getting taken advantage of, plenty of people still wave the American flag and want to bail out a company. At very least I can always be assured that if I make an American company I can stick my foot so far up a good portion of American asses yet they'd still want to bail me out.

[mawilson 2,133]

Let the companies like Toyota and Honda that "get it" succeed.

Toyota's profits are down 69%, despite the fact that they "get it".

I wouldn't be surprised if Japan had to "rescue" them too.