Comments on: Chrysler & GM might need “considerably” larger loans

By: Tim W.

Tim W. — Tue, 24 Mar 2009 22:31:43 +0000

Wheelnut….You may have the best idea I’ve heard yet !

By: Wheelnut

Wheelnut — Tue, 24 Mar 2009 11:34:57 +0000

Its not all completely GMs Fault – although a considerable amout of responsibility does lie with management.. if only Lutzy was GMs President instead of Rick Wagonner

A fair bit of responisbility also lies with the UAW
Because back in the mid 80s the US Federal Government [under George Bush Snr] forced the Car Companies [GM Ford and Chrysler] to accept the unreasonable demands set down by the UAW – which included a pay increase to approx $40p/hr and post employment health benefits; inorder to end a long running strike

They got their pay increases their health care payments and other bonuses etc However; over that time their build quality hasn’t improved nor has their efficiency or any other real measure of perfomance

Which is why I think that the Obama Government should now force the UAW to accept the deal that the Car Companies are offering.. which includes halving the pay rates back down to $20-25p/hr and getting rid of the health care benefits for retirees.

Given that these performance issues are only really limited to GM Factories in the USA Iwould have to say that GM should Fold – Yet If GM went so to would Opel and Holden which is unfair because over the same period of time build quality output etc at both Holden and Opel have improved or increased.

Therefore; I believe the only viable solution for GM is to pull out of the USA move RWD production to Austrtralia and FWD production to Europe.

If the UAW are too stuopid to realise that a job at a lower rate of pay is better than no job…. stuff em.

By: BK

BK — Tue, 24 Mar 2009 10:32:48 +0000

Wheelnut must be having a RDO on this site as i havent seen anything posted by him yet.

By: topdog

topdog — Mon, 23 Mar 2009 11:01:42 +0000

I was reading reports that thay will be needing over 50 billion in total .How many decades will that take to pay back and there still got no idea if thay will still survive.I say dont worry about them, when things pick up all the other car makers will pickup the slack and start employing more people it will all work out in the end thay got to put a stop to this crazzy money hand out its just to much now

By: Limited Slip

Limited Slip — Mon, 23 Mar 2009 04:31:31 +0000

WVB..exactly. The mess GM is in is like an iceberg. Only a little has shown above the surface ……just wait until they look a little deeper !!

By: WVB

WVB — Mon, 23 Mar 2009 03:44:16 +0000

unf*kenbelievable. It’s that stupid american tipping culture that’s caused all of this.
or, like giving a teenager 25 bucks for the night and then him or her saying ‘but dad i need $20 for petrol and i owe my mate $12 and then wait, I’ll need at least another $35 for………………..on and on and on it goes.

Before you know it, the country’s even worse off.

This goes to show they have absolutely no idea what a screaming train wreck of a mess they’re in.
Throw more money at it……it’s gotta get better soon!

By: Limited Slip

Limited Slip — Mon, 23 Mar 2009 03:40:57 +0000

Frenchie….that is what I heard too. I think it was just wushful thinking on his part, I think Wagoner knows that they are totally stuffed and trying to put on a brave face……..its not working.

By: Limited Slip

Limited Slip — Mon, 23 Mar 2009 03:38:22 +0000

JasonP….. yes its a loan but its a loan that can never be payed back because its getting out of hand now. GM are stuffed and each day lose more and more money. They can never return to profit in their current form.

Gm cant pay any loan back because they cant make money.

By: JasonP

JasonP — Mon, 23 Mar 2009 03:06:40 +0000

Not sure why Aussies care what the US taxpayer spends their money on.

Remember, these are loans, unlike the bailouts to AIG, Citibank, et al.

They have to put in place a repayment plan, whereas those Banks & Insurance Companies haven’t had to.

By: Tim W.

Tim W. — Mon, 23 Mar 2009 02:27:39 +0000

Well you can not have more money ! The tax payers gave all they are going to give and now its up to you to get your show back on the road, if you can not save your compnay with what you have recieved then shut your doors. Enuff is enuff ! The tax payers have paid to much for your products and now we are paying you to save your compnay and you wnat more ? NO ! No more free funds from us, get back on your feet and pay us back what you have recieved or shut the dorrs and turn out the lights ! This goes for the auto makers, the insurance companies and everyone trying for the bailout funding ! ENUFF !