Discuss Detroit » Archives - Beginning January 2006 » What are you gonna do when GM goes belly up? « Previous Next »
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Gravitymachine
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Username: Gravitymachine

Post Number: 965
Registered: 05-2005
Posted From: 198.208.251.24
Posted on Thursday, March 30, 2006 - 10:07 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I moving the hell out this piece of shit state.
Delphi Action May Put GM Near Bankruptcy
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Ndavies
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Username: Ndavies

Post Number: 1717
Registered: 10-2003
Posted From: 129.9.163.233
Posted on Thursday, March 30, 2006 - 10:10 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Do us all a favor. Don't wait, leave now.
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Dialh4hipster
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Username: Dialh4hipster

Post Number: 1515
Registered: 11-2004
Posted From: 68.61.187.234
Posted on Thursday, March 30, 2006 - 10:13 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm going to Disney World!
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Crew
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Username: Crew

Post Number: 907
Registered: 02-2004
Posted From: 146.9.52.33
Posted on Thursday, March 30, 2006 - 10:13 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm stealing all the aluminium off the Ren Cen and selling it for scrap.

(Message edited by Crew on March 30, 2006)
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1953
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Username: 1953

Post Number: 745
Registered: 12-2004
Posted From: 209.104.146.146
Posted on Thursday, March 30, 2006 - 10:32 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I can't wait until someone busts out all of the windows of the vaccant Ren Cen, like they did with the Depot. Can you imagine how big a job that will be? It sure will take a lot of hobos and crack dealers to destroy the glass in all of those towers!
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Itsjeff
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Username: Itsjeff

Post Number: 5718
Registered: 10-2003
Posted From: 208.27.111.125
Posted on Thursday, March 30, 2006 - 10:39 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'll start a letter-writing campaign to get Hyundai to move into RenCen.
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Merchantgander
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Username: Merchantgander

Post Number: 1697
Registered: 01-2005
Posted From: 150.198.150.244
Posted on Thursday, March 30, 2006 - 10:55 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Move in with Ms. Cleo.
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Wazootyman
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Username: Wazootyman

Post Number: 30
Registered: 02-2006
Posted From: 68.75.220.9
Posted on Thursday, March 30, 2006 - 10:56 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Does the rest of the nation even care or understand the impact of this?

I'm really getting depressed reading about GM.
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Amy_p
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Username: Amy_p

Post Number: 644
Registered: 10-2003
Posted From: 198.208.251.21
Posted on Thursday, March 30, 2006 - 11:01 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Would OnStar stand alone? Can the blue button help GM?
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Pffft
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Username: Pffft

Post Number: 867
Registered: 12-2003
Posted From: 68.248.0.11
Posted on Thursday, March 30, 2006 - 11:02 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

No, or they wouldn't be driving nothing but Toyotas and Hondas.
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Spidergirl
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Username: Spidergirl

Post Number: 182
Registered: 12-2004
Posted From: 63.77.247.130
Posted on Thursday, March 30, 2006 - 11:08 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Buy a $280,000 high rise condo a few blocks away.

Oh, wait...
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Llyn
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Username: Llyn

Post Number: 1492
Registered: 06-2004
Posted From: 68.61.197.206
Posted on Thursday, March 30, 2006 - 11:10 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I would assume we are talking about re-organization, not going out of business. Everyone knows that the RenCen would still be occupied by GM, right my friends?
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Lurker
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Username: Lurker

Post Number: 1615
Registered: 10-2003
Posted From: 65.196.220.198
Posted on Thursday, March 30, 2006 - 11:34 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm gonna party like it's 1929...
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Udmphikapbob
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Username: Udmphikapbob

Post Number: 118
Registered: 07-2004
Posted From: 206.81.45.34
Posted on Thursday, March 30, 2006 - 12:03 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

get in my Nissan, drive home and cash my wife's profit-sharing check?
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Lilpup
Member
Username: Lilpup

Post Number: 900
Registered: 06-2004
Posted From: 69.129.146.186
Posted on Thursday, March 30, 2006 - 12:07 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

propose a riverfront tourist attraction - a really tall water slide with a restaurant at the top
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Doctors
Member
Username: Doctors

Post Number: 698
Registered: 10-2003
Posted From: 68.42.124.248
Posted on Thursday, March 30, 2006 - 12:11 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Go buy a house in the Bronx? ; )
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Mikeg
Member
Username: Mikeg

Post Number: 37
Registered: 12-2005
Posted From: 69.136.155.244
Posted on Thursday, March 30, 2006 - 12:20 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

From a consumer's viewpoint, a Chapter 11 reorganization of a company that makes and warrants vehicles isn't the same thing as a Ch. 11 of a company that sells airline seats (to use a recent example).

With an airline, you are only concerned that they are still in business at boarding time, which is a very short-term and low cost relationship which involves limited risk for the consumer. Who wants to take a chance on buying a product from an officially "bankrupt" GM if they even think there is a remote chance that GM won't be around to honor a warranty problem two or three years down the road?
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Northend
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Username: Northend

Post Number: 826
Registered: 10-2005
Posted From: 69.212.51.105
Posted on Thursday, March 30, 2006 - 12:48 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'll buy a Toyota, have a beer, a hotdog, and move on with my life
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56packman
Member
Username: 56packman

Post Number: 163
Registered: 12-2005
Posted From: 129.9.163.234
Posted on Thursday, March 30, 2006 - 12:54 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

MikeG-you bring up a very interesting point, a case of history repeating itself. In the 1950's there was a similar attitude toward the independent auto manufacturers, the "little five" (back then you had the "little five", Packard, Studebaker, Hudson,Nash and Kaiser-Fraizer--the opposite of which is the "big three", how that term came into being) those brands became known on the street as "orphan" makes, and the water coooler talk at the time contained many warnings not to by an orphan make because "there won't be anyone to fix it", "there won't be any parts", etc.
This thinking, coupled with the GM and Ford flooding the market with inexpensive cars (Ford was trying to over-produce itself to be the number 1 volume producer again, and Chevy called their bluff) made a bad situation for the struggling independents worse. GM could fall victim to potental buyers fears as this situation compounds.
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Bob
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Username: Bob

Post Number: 885
Registered: 11-2003
Posted From: 64.12.116.204
Posted on Thursday, March 30, 2006 - 1:10 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

A GM banruptcy would have implication nation-wide, since it is such a large corporation. In terms of our state, we would be more screwed than we already are. The auto industry is just the tip of the iceburg in terms of foreign competition. More and more companies are going to deal with the same issues, its cheapers to make products elsewhere. Expect the problems with the auto industry to start showing in other industries.
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_sj_
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Username: _sj_

Post Number: 1286
Registered: 12-2003
Posted From: 69.220.230.150
Posted on Thursday, March 30, 2006 - 2:10 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)


quote:

Expect the problems with the auto industry to start showing in other industries.




They are already present in the other industries. The ones who refused to change are gone (Steel), the last remaining hold out (Cars) is having a hell of time trying to hold onto to 40 year old ideals and beliefs.

(Message edited by _sj_ on March 30, 2006)
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Miss_cleo
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Username: Miss_cleo

Post Number: 146
Registered: 05-2005
Posted From: 69.47.85.139
Posted on Thursday, March 30, 2006 - 2:11 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Thanks Bush! you made it all possibe by giving companies insentives to send jobs overseas. Thats owners and CEO's, you have crippled the middles class wtih your greed and the lowest bottom line. We are screwed!
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Eric_c
Member
Username: Eric_c

Post Number: 685
Registered: 11-2003
Posted From: 68.21.62.206
Posted on Thursday, March 30, 2006 - 2:16 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

'Insentives' make me laugh.
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Jt1
Member
Username: Jt1

Post Number: 7126
Registered: 10-2003
Posted From: 198.208.159.20
Posted on Thursday, March 30, 2006 - 2:19 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Cleo - The downfall started long before Bush and I am no Bush supporter.
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Hooha
Member
Username: Hooha

Post Number: 99
Registered: 06-2005
Posted From: 69.81.52.28
Posted on Thursday, March 30, 2006 - 2:29 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

"Insentives" are incentives that are insensitive to the middle class.
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Dodge1
Member
Username: Dodge1

Post Number: 2
Registered: 03-2006
Posted From: 208.215.58.101
Posted on Thursday, March 30, 2006 - 2:41 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

jt1, you got that right!
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Zulu_warrior
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Username: Zulu_warrior

Post Number: 2691
Registered: 10-2003
Posted From: 68.251.27.41
Posted on Thursday, March 30, 2006 - 2:48 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Learn Japanese and German?
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Crew
Member
Username: Crew

Post Number: 910
Registered: 02-2004
Posted From: 146.9.52.33
Posted on Thursday, March 30, 2006 - 2:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm still trying to learn Texan.
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Erichp77
Member
Username: Erichp77

Post Number: 170
Registered: 12-2003
Posted From: 70.228.3.72
Posted on Thursday, March 30, 2006 - 3:15 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm going to live in a van down by the river.
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Jfwaterburry
Member
Username: Jfwaterburry

Post Number: 38
Registered: 04-2005
Posted From: 65.42.89.234
Posted on Thursday, March 30, 2006 - 3:15 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Japanese & German??? No no... learn Chinese.

They are the ones that will soon be importing $10K vehicles to our shores. Even Toyota will be scared then.
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Czar
Member
Username: Czar

Post Number: 2996
Registered: 11-2003
Posted From: 129.137.201.142
Posted on Thursday, March 30, 2006 - 3:37 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Dance on their grave. They still owe me for the piece of shit S-10 with the transmission that dropped at 37,000 miles. Nothing but Toyotas for me ever since.
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Livernoisyard
Member
Username: Livernoisyard

Post Number: 372
Registered: 10-2004
Posted From: 69.242.223.42
Posted on Thursday, March 30, 2006 - 3:44 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

WJR mentioned this morning that Toyota's market value this quarter passed $200 billion for the first time.

What's GM's market value? ... about $12.5 billion, including GMAC - its only significant earning power. With GMAC out of the picture, GM's liabilities will surpass its "assets."

However, GM needs mega cash, not stable profitable returns from GMAC. So, GMAC will be converted into cash for a few more tosses of the dice. Afterwards, the lawyers will have at it in bankruptcy court.
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Ilovedetroit
Member
Username: Ilovedetroit

Post Number: 2180
Registered: 02-2005
Posted From: 63.149.5.130
Posted on Thursday, March 30, 2006 - 3:55 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Gravity - Don't let the door hit your ass on the way out!
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Gravitymachine
Member
Username: Gravitymachine

Post Number: 968
Registered: 05-2005
Posted From: 198.208.159.20
Posted on Thursday, March 30, 2006 - 4:24 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

to allay all of your fears of a gravity-less detroityes board :D .... I made that statement out of frustration, not as a true statement of intent.
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Livedog2
Member
Username: Livedog2

Post Number: 10
Registered: 03-2006
Posted From: 24.223.133.177
Posted on Thursday, March 30, 2006 - 5:02 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm going to ax Kwami if I can move into the Belle Isle Aquarium so I can have a place to live to raise fish and swimp for walleye, smelt and shrimp fries on Friday Nights. I refuse to leave the city of my birth! I can't stand crack and I'm too old to be a ho so I've got to do something to live. Between the fish and swimp fries; and, the animals I catch on the eastside, since all the houses are gone, and the land has gone back to nature I should be able to make a nice living. That's my plan and I'm going to sticking to it!! ^j^

Belle Isle Aquarium
Belle Isle Aquarium
Walleye
Walleye
Smelt
+++ gif +++ 69467 +++
Smelt +++
Swimp
Swimp
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Livedog2
Member
Username: Livedog2

Post Number: 11
Registered: 03-2006
Posted From: 24.223.133.177
Posted on Thursday, March 30, 2006 - 5:05 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Smelt!

Smelt
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Upinottawa
Member
Username: Upinottawa

Post Number: 272
Registered: 09-2005
Posted From: 198.103.184.76
Posted on Thursday, March 30, 2006 - 5:09 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

The white collar Detroit GM jobs will be saved once Toyota merges with/purchases GM.
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Mikeg
Member
Username: Mikeg

Post Number: 38
Registered: 12-2005
Posted From: 69.136.155.244
Posted on Thursday, March 30, 2006 - 5:30 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Supposedly the NW flights to Nagoya over the past year have been full of GM attorneys and accountants. Perhaps Toyota is doing some "due dilligence"?
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Eastsidedog
Member
Username: Eastsidedog

Post Number: 130
Registered: 03-2006
Posted From: 69.220.142.7
Posted on Thursday, March 30, 2006 - 6:24 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Upinottowa, I agree. If GM can restructure to make itself an attractive asset, then we may have a DaimlerChrysler repeat on our hands in the next few years.

That'll make Detroit cosmopolitan!
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Livernoisyard
Member
Username: Livernoisyard

Post Number: 373
Registered: 10-2004
Posted From: 69.242.223.42
Posted on Thursday, March 30, 2006 - 6:40 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

My dos centavos:

Expect more modular sub-assemblies from the Tiers to be installed by fewer (probably non-UAW) blue-collar workers and probably not in a non-"right to work" state.

No more crazy-quilt "work rules."

They way things are going in Deutschland bodes better for DC becoming a US firm. Notice the recent change of venue for its HQ.

I do not foresee a purchase of GM, but instead a purchase of GM's assets. Severstal NA did not buy Rouge Industries, but instead it bought its assets after bankruptcy three years ago. No well-managed firm would ever want to assume GM's liabilities!

(Message edited by LivernoisYard on March 30, 2006)
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Old_southwest
Member
Username: Old_southwest

Post Number: 115
Registered: 07-2005
Posted From: 67.149.72.160
Posted on Thursday, March 30, 2006 - 6:58 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Swimp??
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Karl
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Username: Karl

Post Number: 1800
Registered: 09-2005
Posted From: 72.25.177.194
Posted on Thursday, March 30, 2006 - 7:14 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

LOL @ Livedog2..........
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Miss_cleo
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Username: Miss_cleo

Post Number: 149
Registered: 05-2005
Posted From: 69.47.85.139
Posted on Thursday, March 30, 2006 - 7:22 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Cleo - The downfall started long before Bush and I am no Bush supporter.

oh I know, but he definetely put it into high gear!
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Livedog2
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Username: Livedog2

Post Number: 12
Registered: 03-2006
Posted From: 24.223.133.177
Posted on Thursday, March 30, 2006 - 8:39 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

If the pronunciation of “swimp” is good enough for Kwami

Kwami

it’s good enough for me. What you need to pay attention to is getting your order in for swimps now at Livedog2’s Swimp & Raccoon Barbeque Pit and Emporium since Dot & Etta’s Swimp Shack has closed down business is brisk for future orders. Maryann Mahaffey, President of Detroit City Council has already put her order in for the Detroit City Council Meeting of April 1, 2006 (Is that April Fool's Day?) <(:-) agenda being:
• Closing of the Anna Scripps Whitcomb Conservatory on Belle Isle
• Creation of the new Office of Greetings for Rap Music Dawgs
• Acceptance of a Marshall Plan Aid Package for the City of Detroit from the estate of Idi Amin
• Resolution proclaiming Candy-Apple Red Cadillac Escalades as the official car for City of Detroit Employees and all Kilpatrick Family Members
• Enactment of the Coleman A. Young Scholarship Fund at the WSU School of Political Science for students pursuing excellence in Neighbor Relations
• Proposed classes at WCCC in the School of Social Work dealing with the social causes for why people are forced to become scrapers and why society is responsible for this kind of behavior
• Funding appropriations for a study concerning the effects of yellow on Councilmember JoAnn Watson



JoAnn Watson

Minutes of the meeting to be printed in the Michigan Chronicle, New Detroit Daily “What’s Happening” Journal and the Detroit Times Community News Section
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Jelk
Member
Username: Jelk

Post Number: 3712
Registered: 10-2003
Posted From: 66.208.233.74
Posted on Thursday, March 30, 2006 - 9:09 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

To riff off Lurker's excellent reference...I think it would be more appropriate to party like it was 1987 because there is a difference between a crash and a correction.
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Paulj
Member
Username: Paulj

Post Number: 350
Registered: 12-2003
Posted From: 68.252.69.189
Posted on Thursday, March 30, 2006 - 10:02 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

more fuel to the fire...

the wooshing sound you hear is all of the young brain-power being sucked out of Michigan. It takes a lot of incentive for someone from a 'normal' city or state to endure ludicrous insurance rates, terrible infrastructure, high taxes, regional political paralysis, and crime up the yin-yang. A well-paying GM job was one of just a few lures that helped outsider overcome Detroitophobia, as well as keep the young & upwardly mobile college grads here. Now you can strike that one off the list...


And to the 'dont let the door hit you on the ass' crowd, I always cover mine as I'm fleeing a sinking ship. I sure hope you can play in a band cuz this ones going under...
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Mike
Member
Username: Mike

Post Number: 585
Registered: 11-2003
Posted From: 66.227.165.194
Posted on Thursday, March 30, 2006 - 10:31 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Do you think if GM merged with Toyota (Toyota actually buying it up) that Toyota would hold on to anything GM? Goodbye RenCen, good bye Detroit funding.
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Lowell
Board Administrator
Username: Lowell

Post Number: 2410
Registered: 10-2003
Posted From: 66.167.58.14
Posted on Friday, March 31, 2006 - 1:44 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'm going to open a stove factory on the site of a GM plant. Time to start over.
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Erobtheone
Member
Username: Erobtheone

Post Number: 17
Registered: 08-2005
Posted From: 64.134.63.163
Posted on Friday, March 31, 2006 - 2:41 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

gonna get rid of my '76 drop-top coup de ville dreams. if there is no parts to repalce why bother. man, i was hoping that caddy would bring back the long drop top coupe! that sucks!

Erob
chicago by way of detroit
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Devinc
Member
Username: Devinc

Post Number: 40
Registered: 12-2005
Posted From: 69.14.138.74
Posted on Friday, March 31, 2006 - 2:49 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

i'm going to buy a bunch of stock in toyota.
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Jerome81
Member
Username: Jerome81

Post Number: 958
Registered: 11-2003
Posted From: 64.142.86.133
Posted on Friday, March 31, 2006 - 3:01 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Paul-
I am one such young brain power. Worked at DCX as an intern back in 2003 (when their shite hit the fan). Wasn't asked back when they had a hiring freeze. Now theres a chance again. Except I'm not sure I'm gonna take it. As much as I love the auto biz, there is so much concern about the health of the domestic biz (of which DCX finds itself grouped). But beyond that I worry that Detroit will stumble and continue to fall, that any future home I might buy will lose value. To be honest, its downright discouraging. I truly believe GM (and Ford) will pull out of this, but it will get worse, potentially much worse, before it gets better.

And I have about zero interest in any other car manufacturer. Most people might think I'm crazy for loving Detroit (and maybe leaving CA for it), but if you're in anything but design, if you don't go to Detroit you get sent to rural kentucky, tennessee, alabama, south carolina, mississippi, or texas. I'm just not a guy from the south, much less a guy for the rural south. I love large cities, and Detroit is still the only large metro area where cars are life. Another part of me believes deep down that I can be part of the solution. A savior. That someday history can look back and say that I was part of what made the American auto industry golden again. Maybe I'm full of it, but I find that appealing.

Toyota won't buy GM. Guaranteed. Why would they want that mess? They've got the market covered themselves, no point in acquiring a company that can't give them anything additional. If anything, it will stay what it is, private investors will buy it out, or something like (god forbid) a chinese company takes controlling interest (like they did with MG Rover).

Its hard to remain positive when there is so much negative. The outlook is gloomy. After awhile, you want to just say forget it, and move on. And I agree. I've pretty much decided that only a significant bump in salary would make me take that job if offered. Otherwise I think I'd rather stay in CA and make less money. I would surmise this is how most people feel, unfortunately.

Detroit will not be saved if the auto industry is not healthy. They grew together, and they will die together.
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Northend
Member
Username: Northend

Post Number: 832
Registered: 10-2005
Posted From: 70.236.191.86
Posted on Friday, March 31, 2006 - 9:37 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Lowell, brilliant...:-)
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Danny
Member
Username: Danny

Post Number: 3874
Registered: 02-2004
Posted From: 141.217.173.154
Posted on Friday, March 31, 2006 - 9:48 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

HAH!! GM got hit by the " ASIAN SYNDROME" That's when the Asians started to make bigger and better western technology and sell it to world markets. Why are we keep buying their products? It's not going to the good ole US of A pockets in terms of revenue money. If GM dies, at least we have Ford and Dailmer Chrysler to keep our auto ecomony going.

In the meantime RED STAR CHINA is getting ready to invade the U.S. by stockpiling more weapons. So be ready!
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Danny
Member
Username: Danny

Post Number: 3875
Registered: 02-2004
Posted From: 141.217.173.154
Posted on Friday, March 31, 2006 - 9:50 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

The Chinese are problably laughing at the Americans right about now. They are laughing at our calamity, and they are laughing at out faults, they are laughing at our ignorance. And they already know that the U.S. will fall into their hands.
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Bongman
Member
Username: Bongman

Post Number: 989
Registered: 12-2003
Posted From: 198.111.56.128
Posted on Friday, March 31, 2006 - 10:43 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I sense Danny may have had a large Starbuck's this morning.
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Livernoisyard
Member
Username: Livernoisyard

Post Number: 377
Registered: 10-2004
Posted From: 69.242.223.42
Posted on Friday, March 31, 2006 - 11:29 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

The expected occurred: Delphi asks bankruptcy court to void union contracts - The move may lead to a strike by the UAW which could push GM closer to Chapter 11

Delphi to void contracts, close or sell most of its plants


Up to 40% of corporate officer postions will be eliminated, Delphi said.

Delphi intends to keep eight core plants in the United States, including one in Grand Rapids, the only plant it has targeted for saving in Michigan.

However, Delphi Chief Executive Steve Miller said that the company continues to negotiate with its unions. “We have made considerable progress in recent weeks, and we intend to stay at it until we are finished,” he said in a statement.

But Gettelfinger said that the filing of the motions has killed any momentum in discussions, and “it appears there is no basis for continuing discussions.”

If the bankruptcy court rejects the contracts and Delphi imposes the terms of its last labor proposal, “it appears that it will be impossible to avoid a long strike,” Gettelfinger said.
These eight plants will remain open:

- Brookhaven, Mississippi
- Clinton, Mississippi
- Grand Rapids
- Kokomo, Indiana
- Lockport, New York
- Rochester, New York
- Warren, Ohio
- Vandalia, Ohio

(Message edited by livernoisyard on March 31, 2006)
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Sailor_rick
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Username: Sailor_rick

Post Number: 123
Registered: 02-2004
Posted From: 12.2.192.223
Posted on Friday, March 31, 2006 - 11:27 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I'll be selling GM memorabilia on E-Bay to raise funds for my obsolete Buick Riviera finned brake drums & Pontiac Bonneville rubber bumpers, gar.
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River_rat
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Username: River_rat

Post Number: 84
Registered: 02-2006
Posted From: 71.126.176.158
Posted on Friday, March 31, 2006 - 11:47 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Good post, Livernoisyard. The future of GM (not to mention Delphi, Ford, Visteon, Tower, Dana, etc.) is likely to be decided in the next two to three weeks. Any job action/strike at Delphi will lead to massive losses at GM due to shutdowns secondary to parts being unavailable.

Add impending $3 a gallon gasoline into the equation and it seems clear that any work stoppage will lead to lead to losses in the range of 1/2 billion A WEEK to GM. This to a company that lost nearly $1 Billion a month last year without any strikes.

Looks very bad ... lets hope there is a rational response on both sides. The presence of Kirk Korkorian's money ($1.5 B)in GM and his man on the Board at GM gives some hope, but it isn't clear how that presence will have any effect on the Delphi situation.

Probably still best to short GM.


the river rat the economist
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Leoqueen
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Username: Leoqueen

Post Number: 1208
Registered: 07-2004
Posted From: 64.12.116.204
Posted on Saturday, April 01, 2006 - 5:31 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I seem to remember a Broadway play or some movie made in the 1950's that had this line-----

"What's Good For General Motors, Is Good For The USA!"

Can anybody refresh my memory?
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Hornwrecker
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Username: Hornwrecker

Post Number: 995
Registered: 04-2005
Posted From: 66.19.24.72
Posted on Saturday, April 01, 2006 - 5:56 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

The original quote:


quote:

Wilson left GM to accept President Dwight D. Eisenhower's appointment as secretary of defense. At his Senate confirmation hearing, Wilson said: "For years, I thought what was good for our country was good for General Motors -- and vice versa."




The song might be from "How to Succeed in Business without Really Trying", just a guess though.

(Message edited by Hornwrecker on April 01, 2006)
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Mikeg
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Username: Mikeg

Post Number: 39
Registered: 12-2005
Posted From: 69.136.155.244
Posted on Saturday, April 01, 2006 - 6:00 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Charles Wilson, a GM President who had been chosen by President Eisenhower to become his Secretary of Defense in 1953, was asked during his US Senate confirmation hearings how he could make impartial decisions while still owning $2.5 million worth of GM Stock. He responded, "because for years I thought what was good for the country was good for General Motors and vice versa."

This statement would later become garbled and transformed by the press into his having said, "What's good for General Motors is good for the country.".

Later, cartoonist Al Capp created a character in his "L'il Abner" comic strip named "General Bullmoose" who would say, "What's good for General Bullmoose is good for the USA!" I believe that following the popularity of his comic strip, a Broadway play and movie were written and titled "L'il Abner".
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Bob
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Username: Bob

Post Number: 893
Registered: 11-2003
Posted From: 64.12.116.204
Posted on Saturday, April 01, 2006 - 7:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

If Delphi strikes, GM falls into bankruptcy, I don't think this state will recover for a LONG time. People will be forced to leave in droves to find jobs. It will be like when people left the south in droves to come to Detroit for jobs in the auto plants, only the reverse.
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Livernoisyard
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Username: Livernoisyard

Post Number: 383
Registered: 10-2004
Posted From: 69.242.223.42
Posted on Saturday, April 01, 2006 - 8:21 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

"People will be forced to leave in droves to find jobs."

Reality check: This is news? As if this hasn't been happening since the late 1990s? The divestitures by GM and Ford into Delphi and of Visteon, respectively, were early-warning signs of what to expect. About one-third of the Tiers, especially the smaller ones which never have any press mention, have disappeared since the millenium already.

And on the school front: How might one surmise why schools are closing throughout Metro Detroit? The unemployed with families have been leaving southern Michigan by several tens of thousands each of the past four years. Obviously, their kids leave also. So, there were tens of thousands fewer school kids each year than the previous year. Anybody with half a brain knows about this and about where Michigan's economy is heading...

(Message edited by LivernoisYard on April 01, 2006)
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Pffft
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Username: Pffft

Post Number: 869
Registered: 12-2003
Posted From: 68.248.0.11
Posted on Saturday, April 01, 2006 - 8:23 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

This is for all you Japanese car owners...this is the kind of company philosophy you support:

http://www.dispatch.com/busine ss-story.php?story=dispatch/20 06/03/29/20060329-D1-01.html
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Thnk2mch
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Username: Thnk2mch

Post Number: 105
Registered: 02-2006
Posted From: 71.65.11.152
Posted on Saturday, April 01, 2006 - 8:35 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Leoqueen...

"What's Good For General Motors, Is Good For The USA!"
"Can anybody refresh my memory?"

How about: What's Good For General Bullmoose, Is Good For The USA!" from L'il Abner
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Bob
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Username: Bob

Post Number: 894
Registered: 11-2003
Posted From: 64.12.116.204
Posted on Saturday, April 01, 2006 - 9:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Livernoisyard is correct, less school kids in the state is the only reason that the state has more money to increase the foundation allowance to schools next school year. The question is, when will this state finally hit rock bottom?
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Leoqueen
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Username: Leoqueen

Post Number: 1215
Registered: 07-2004
Posted From: 207.74.195.249
Posted on Tuesday, April 04, 2006 - 11:11 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Thanks to all who answered my question about the line from the Broadway play....now I remember the General Bullmoose part.


Al Capp was great
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Rasputin
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Username: Rasputin

Post Number: 3577
Registered: 10-2003
Posted From: 152.163.100.8
Posted on Tuesday, April 04, 2006 - 1:03 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

When and IF GM goes "belly-up", I'll personally burn down the Book-Cadillac!!

Black-atcha .....

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