$3 Billion Lawsuit Could Unravel The ...

$3 Billion Lawsuit Could Unravel The New GM!!

Posted in the Autos Forum

Proteus

Windsor, Canada

#1 Sep 12, 2012
Proteus

Windsor, Canada

#2 Sep 12, 2012
This will not end well, although it will end after the election, which is all the candidates care about.
What if Eisenhower had decided the US could not live without Packard car company in 1958, and intervened in its bankruptcy to take it over with federal tax money.
Would Packard still be around today?
No, because greater forces were involved than just a simple cash flow problem.
GM abandoned half its company in 2009 in order to survive, which meant that even the $70+ billion US taxpayers threw in wasn't enough to save the entire business.
In addition, most of the shares were given to the United Auto Workers, who themselves were much of the problem (along with inept management).

If only President Kennedy had saved Studebaker - then we'd all be driving Toyotas today!!
(Just kidding!!)
Proteus

Windsor, Canada

#3 Sep 12, 2012
One obvious way to pull down costs is to push up volume but GM is paying a hefty price to do so.
The automaker just ended a special Volt lease program that offered customers a low monthly payment of $279 a month for two years, with some high-volume dealers dropping the payment to $199 a month after receiving incentive money from GM, with down payments as low as $250.
The company said about two-thirds of Volt customers in July and August leased their vehicles, compared with about 40 percent earlier this year.

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