Comments on: GM CEO: Bankruptcy Looks "More Probable"

Auto Exec Says More Plant Closures May Be In Offing To Meet Tougher Government Standards

[cbs4me3]

Unlikely since Mr. B. O. Goodwrench is in charge of sales and service. Not my preference since I own a GM car.

[frankly6]

Posted by searingtruth

You talk too much. Start a blog if you want to take up screen real estate, but stay off the news comment forums. Nobody reads your drivel, anyway.
Posted by ghostfighter-2009 at 1:49 PM : Mar 31, 2009



True.

[ontheleft]

Posted by searingtruth at 1:43 PM

Interesting set of objectives, but you know none of them will come to pass.

The 'new world order' is already here and has been in the making for decades. It isn't a socialist or communist order like the right wing loonies seem to think. It's global capitalism without borders. The global capitalists do not care about the individual interests of countries or people - they want borders and distinctions between countries to disappear. None of this is for the benefit of the common man.

[searingtruth]

"...You talk too much. Start a blog if you want to take up screen real estate, but stay off the news comment forums. Nobody reads your drivel, anyway."
ghostfighter-2009


But then I would miss you.

Because I know at least you read it.
ST


"The greatest persuader is the ever encroaching power of truth."
SearingTruth

A Future of the Brave

[rickwar98]

For those hoping GM will go bankrupt---Be careful what you wish for.

[searingtruth]

I'm heartened to see that Obama supporters are beginning to recognize what I warned about long before the elections.

Obama is not what he seemed.

He is just as corrupt and desirous of unlimited power as most other politicians. There are a few good patriotic politicians left, but they are a dying breed, and in danger of extinction.

Therefore I forward for your consideration the SearingTruth American Recovery Plan. A plan that I truly believe will start us on the true road to redemption, and our great nations salvation.


The SearingTruth American Recovery Plan
----------------------------------------------------------
1. Investigate the treason and subversion of our Constitution during the Bush, and now Obama, administrations and try all Republicans and Democrats involved in Americas most shameful period in history. Any found guilty must be justly punished according to the rule of law.

2. Get as much of the trillions of dollars we gave away to billionaires back, as soon as possible.

3. Let all the failed corporations in America go bankrupt, so that viable companies can move in and clean up the mess.

4. Immediately implement universal health care for the people, and an emergency plan to shelter and feed us so we can weather the depression.

5. Implement publicly funded elections, and forbid political bribery (a.k.a. "lobbying"). Every citizen may contribute a maximum of $20.00 to their favorite candidate, whether they're a homeless person or a corporate CEO. And that's it, period. This will do away with one of the major causes of our rampant political corruption.

6. Begin a ten year economic disengagement program from China. Besides being an inhumane nation that regularly commits atrocities upon all those within its domain, they are our enemies and are simply using the trillions of dollars we are giving them to build an army to destroy us.

7. Implement fair trade, because "free trade" doesn't exist, and has helped to bring us to the brink of destruction. This means making trade agreements that benefit America, not other nations.

8. Forbid the outsourcing of American jobs, which is another key reason America is failing. And from now on any company that wants to move to another country may do so, and then never do business in America again without extremely high tariffs on their products or services.

9. Heavily regulate and monitor our financial system so criminal billionaire thugs can never threaten us again.
ST


"Of those men who have overturned the liberties of republics, the greatest number have begun their career by paying an obsequious court to the people, commencing demagogues and ending tyrants."
Alexander Hamilton, Federalist No. 1, October 27, 1787

A Future of the Brave

[magicwolf1]

alphaa10000 - You are RIGHT ON! Without Unions, there would be no Middle Class, period.The voters need to put political BS behind them and realize that when we all are doing well, then we ALL are doing well! You can't just keep squeezing the last drop of blood from the Consumer when it comes to greedy, unregulated, irresponsible capitalism. You've gotta regulate those bast*rds! If not, kiss your concept of the Middle Class GOOD-BYE!

[pensacola8-2009]

The root cause of this dilemna is not something any autoworker can control, because most sales are credit driven, and credit is not flowing as it once did. That is what drives the sales numbers down and bottom line into the red.

300,000+ employees going into the unemployment line means benefits will be paid out through taxes and insurance benefit, which is not much different than the bailout.

When the concessions are finally realized under bankruptcy court, a federal judge will have the authority to grant plant re-openings, which are expected to occur in the middle of June under lower capacity.

Suppliers depleting their stock are not expected to be able to resupply until they too, emerge from their own bankruptcy.

Suppliers will have equal or greater impact that affects the carmakers. Full capacity may not be possible until August or September.

We may actually see a "New American Car Shortage" occur through the summer.

The retailers will be crying to the bankruptcy courts to be allowed to exit from any of their exclucivity sales contracts, so they can remain in business sell foreign cars.

The GDP wll shrink between 1.5-3.0% based on domestic automakers dilemnas, but the good news, is that GDP is expected to rebound with growth in 2010 and offset some inflation caused by auto importing.

[geminispyder-2009]

But he made a campaign promise to protect our jobs from being outsourced?!!
Posted by pizzanick at 1:04 PM : Mar 31, 2009

He did. He just decided to kill the jobs himself.
Pretty much like saying to some woman that her husband will never harm her again; and to prove it, you push her off of a bridge.

[geminispyder-2009]

GM is a fantastic company. They have been the number one supplier of health care for years. I am rooting for GM to pull through these hard times.
GO GM.
Oh, and people, why don't you buy one if you need a car? If you are driving an import, you aren't very patriotic. Please take the flag off the back window of your import.You can't have it both ways.
Posted by marrianna1 at 12:49 PM : Mar 31, 2009

I agree.
At the same time, look around your house and destroy anything that doesn't say "Made in the USA".

[aheadace]

Obama--is--Chaves how was the former CEO right and Obama was wrong the new Ceo said this looks more probable the only thing Obama is trying to do is to protect the taxpayer

[searingtruth]

"...The American voters did not choose to have their jobs outsourced to countries with cheap labor and/or their wages slashed accordingly. They did not choose to have inept and corrupt corporations line their pockets while running their company into the ground.

While other countries do their best to protect their industries and their workers, the U.S. has bought into the globalization scheme that has devastated whole domestic industries and their workers. The demise of the U.S. automakers will continue this trend, resulting in million more lost jobs and the influx of Walmart-style Chinese and Indian cars."
incog-nito


This is very true.

Unfortunately though, the damage has been done and we can't correct mistakes in a capitalist economy by socializing corporations.

However, we can recognize that the "Global Economy", with its outsourcing of American jobs and siphoning of trillions of dollars to our enemies, has almost destroyed our great nation.

And stop it.

And that's exactly what I propose in the SearingTruth American Recovery Plan.
ST


"Experience is the oracle of truth; and where its responses are unequivocal, they ought to be conclusive and sacred."
Alexander Hamilton, Federalist No. 20, December 11, 1787

A Future of the Brave

[quickly101]

The demise of GM can be blamed on management and labor equally. Unions have gone overboard in their demands for years. Their workers make more than most college graduates. The jobs bank was a dumb, costly idea management should have never agreed to. The comapny does not owe retirees of the company health care for life. I was a teacher for 30 years and have been retired for 7 years, I have paid my health care during all the time I worked and have been retired. I had a masters degree, but never came close to making what auto workers made, or steelworkers, or truck drivers, I could go on and on. Its a new economic reality (has been for quite some time) but organized labor hasn't figured it out. You are in competition with foreign workers whether you like it or not, accept it and base your wage demands on what your competitors are making. And by the way I use to buy American made cars, but the quality was never up to what toyota and honda automobiles were. Sorry but its time to face reality. I hope your industry will survive.

[tcato-2009]

Your situation is sad. If it WEREN'T for being honest and legal: You almost want to park it on the streets of Alabama or Miami and let BUBBA or Hector drive it away to a chop shop. ooops. ASK for a 60 - 90 day payment hold until you get a job.

[marrianna1]

GM is a fantastic company. They have been the number one supplier of health care for years. I am rooting for GM to pull through these hard times.
GO GM.
Oh, and people, why don't you buy one if you need a car? If you are driving an import, you aren't very patriotic. Please take the flag off the back window of your import.You can't have it both ways.

[impeachbhb]

Hey UAW , you got quite a return on your investment in the Messiah didn't you?
Got your vote and then left you to fend for yourselves.

[fleabag75]

just a thought"""""" If 140,000 UAW workers, (almost all?) had their pay reduced by 50%, that in one year that would only make up for one good 4 billion dollar IAG bonus. Like it or not, YOU do the math. Now, tell me again how those workers are destroying the economy????????

[incog-nito]

Americans better get ready to drive vehicles with brand names like Tata and Geely, because that's all they're going to be able to afford. Posted by incog-nito

This is as it should be. This is what the American voters chose.
Posted by aziridine at 10:01 AM : Mar 31, 2009

The American voters did not choose to have their jobs outsourced to countries with cheap labor and/or their wages slashed accordingly. They did not choose to have inept and corrupt corporations line their pockets while running their company into the ground.

While other countries do their best to protect their industries and their workers, the U.S. has bought into the globalization scheme that has devastated whole domestic industries and their workers. The demise of the U.S. automakers will continue this trend, resulting in million more lost jobs and the influx of Walmart-style Chinese and Indian cars.

[Underdogus-7]

It's too late for General Motors and quite likely Chrysler. Both are doomed....

[astrogg]

To show you how my luck is with GM, I purchased a Saturn Vue a year ago this month, last friday I loss my job due to "lack of work" I called the people who the car was financed through ( dealer recommended ) and you will NEVER believe what they told me that my options were, "SELL THE CAR OR TRADE IT IN" that's all we can help you with.
Well as sure as I'm writing this GM, Chrysler, and all the rest that are in trouble I will NEVER EVER buy another american car I hope they fall flat on their faces then I can rub some mud in their faces, so they can get to feel what the rest of us are going through!!!!
Good bye GM
R.I.P.
March 2009