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AFLW 2024 - Round 7 - Pride Round - Chat, game threads, injury lists, team lineups and more.
Is General Motors stuffed?
- Thread starter Dry Rot
- Start date
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Do they have rules about trading whilst insolvent?
Given the massive losses they've been accumulating over the past few years you could say they've been virtually insolvent for a while.
Given a company failure of this size would send the US headlong into depression, I think the US govt will step in... at least in the short term.
GM, Ford and Chrysler are all stuffed, just a matter of when their continual accumulation of massive debt pushes them past the point of no return.
Given a company failure of this size would send the US headlong into depression, I think the US govt will step in... at least in the short term.
GM, Ford and Chrysler are all stuffed, just a matter of when their continual accumulation of massive debt pushes them past the point of no return.
The credit markets have been treating them as such for quite a while.
Read article somewhere over the last few days comparing their cost to the Japanese plants in the US. Their hourly wage rates and employee health care costs are killing them (leaving aside the issue of their models/quality etc).
Throwing billions at them wont achieve anything unless they dramatically reduce those costs.
Obama took alot of union cash, I dont think it would be easy for him to enforce a big wage cut in return for billions of $.
Perrin
Senior List
I reckon they are.
GM more than anyone else have failed to read the market for the last 7yrs or so and have continued to focus on building gas guzzling pick ups. Meanwhile the foreign manufacturers developed hybrids and other fuel efficient vehicles and are reaping the benefits. As others have pointed out Ford and Chrysler are also in a spot of bother.
Without development and financial support from the GM and Ford parent companies it's a bleak future for Falcon and Commodore taxis.
I asked this same question a month or so back on the motor board and got bugger all response. Maybe the bogans are in denial
GM more than anyone else have failed to read the market for the last 7yrs or so and have continued to focus on building gas guzzling pick ups. Meanwhile the foreign manufacturers developed hybrids and other fuel efficient vehicles and are reaping the benefits. As others have pointed out Ford and Chrysler are also in a spot of bother.
Without development and financial support from the GM and Ford parent companies it's a bleak future for Falcon and Commodore taxis.
I asked this same question a month or so back on the motor board and got bugger all response. Maybe the bogans are in denial
- Thread starter
- #7
Heard a similar report on ABC radio today. GM has terminal labour cost structures with some pretty odd conditions.
Will the Democrats take on the auto unions?
- Banned
- #8
Perhaps one could look to the Australian Labor party for a lead on this. Certainly their response to a car industry that results in all Aussies paying more for all cars while still requiring more direct subsidies has been interesting - i.e. lets give them even more money!
They're in all sorts of trouble, and I guess there are two main reasons - crippling labour costs (and the costs of pensions and other employee-related expenses) as well as pretty damn stupid reading of the market. Go to any GM lot and you'll see tons of Tahoes, Yukons and other large trucks and SUVs. Not many small-to-medium sized sedans and the like. They got totally sucked into the big-car boom and did a horrible job of promoting more fuel-efficient vehicles. Now they are left with massive inventories of gaz-guzzlers that no one will buy.
The UAW is a real problem for the big 3, for sure. I'm all for paying living wages but when you're getting $30+ an hour to work on an assembly line, plus massive healthcare and pension benefits, it stands to reason that it's become simply too expensive for GM to continue to employ union people. And not only that, but the UAW has come out and said this week that they are not willing to give any concessions. Well, say goodbye to your jobs, ********s!
The UAW is a real problem for the big 3, for sure. I'm all for paying living wages but when you're getting $30+ an hour to work on an assembly line, plus massive healthcare and pension benefits, it stands to reason that it's become simply too expensive for GM to continue to employ union people. And not only that, but the UAW has come out and said this week that they are not willing to give any concessions. Well, say goodbye to your jobs, ********s!
The VE/WM is cheaper than the VZ,in some cases by several thousand dollars.
A few years ago a GTS or Senator would set you back 85-100k, i was the 2nd owner of a VT Senator Signature 355 stroker, the original buyer paid almost 100k. A VE GTS/Senator will set you back around 74k. A VE SS isn't much more (maybe even cheaper,not sure) now than what a VS SS was 12 years ago,and it is 10x the car the VS was.
Not sure how you come to the conclusion we pay more now for aussie made cars. They're cheaper now than what they were. When we have 300 million people i'm sure we'll pay the same for cars as Europe and the US do.
Basically,stop your whining.
We pay more due to tariffs.
Hardly surprising given tariffs have dropped.
When protection ends we will.
We'd all like to have our wages subsidised by the govt.
Everyone on Earth pays more due to tariffs,good one.
Tariffs will keep dropping.
Every nation protects their manufacturing to some degree.
Nothing stopping you from applying for a job at Holden or Ford. Or go buy a farm.
This made me laugh. From the news story at http://business.smh.com.au/business...y-relief-for-us-car-makers-20081121-6czc.html
GM said November 7 it may run short of the $US11 billion minimum cash it needs to pay its bills each month by the end of this year and will fall significantly short of that level by the middle of next year.
Reid said the chief executives arriving in Washington in private jets didnt make a good impression, and they failed to persuade lawmakers to act to help them.
GM said November 7 it may run short of the $US11 billion minimum cash it needs to pay its bills each month by the end of this year and will fall significantly short of that level by the middle of next year.
Reid said the chief executives arriving in Washington in private jets didnt make a good impression, and they failed to persuade lawmakers to act to help them.
If they go down, does their pension fund go with them?
