Must read! The Book "while America Aged" discusses GM and how they have had this day coming for along time now. Years of pandering to the union threats to keep cars rolling. Now according to the book, 80% of GM margins have to go to pension obligations and other union negotiated liabilities. All of which keep them from making a good car and investing money back into R and D. I would love a job that keeps paying me for life, almost 80% of what I was making before retirement. This day has been coming for 30 years now.
I found some GM bonds priced at $275/bond with a 7.7% coupon. Current yield of a whopping 28%. Great buy if GM is able to stay afloat and keep paying their bondholders. http://reports.finance.yahoo.com/z2...0000&ytl=-1.000000&ytu=-1.000000&yu=-1.000000
The classic description was "angry kitchen appliances" The SUVs were pretty good. The dumbest people on the road are driving Pontiac Grand Ams.
Back in the day, you could be a high school drop out, but if you could get a job on the line and make your 90 days or whatever it was, you were set for life! Autoworkers were upper middle class. Couldn't be fired except for astonishingly good cause. Automatic pay raises based on years of service. Health care for life, and nice pensions. All that plus great pay for unskilled labor.
They won't let it fail. GM promised the the Volt as a gimmick. They government is already using this a a reason why they cannot fail. Apparently the Volt, being priced at over $30,000 will help the U.S. gain our energy independence. Without it we are doomed..... Don't even get started on the ethanol scam. Remember who has the most "flex fuel" vehicles.
If they bail it out, they'll have to bail it out again next year. But I'm sure our wise politicians will take the immediate pain of not forking over even more dough to appease the never ending appetiite of victims looking for handouts. Especially since voters have shown such wisdom and understanding. But enough of this. I've won some lottery in Europe that I need to check out.
OHMS Kia and Hyundai are the same carline just different trims. Both have a 4 day wait for most crash parts. Gm is next day on most things. Gm's big downfall is the pension plan.
aRE YOU KIDDING Me? Kia is a trillion times better than GM. Plus, crash replacement parts. Geez. If you crash then you should have your driving rights stripped! Who cares if its one day or three day turn around.