So, does anyone here see how these guys can get out of this mess? I absolutely cannot see how they will ever recover. There must be many people out there that feel like I do..I grew up in the 60's and 70's with my father buying complete junk Chevys and Pontiacs brand new and then watching them disenigrate right in front of his/our eyes....just complete junk. I bought my first car in 1974, a 1966 VW Beetle and have never looked back. I don't think it's much more than arrogance on the sellers part and stupidity on the buyers side....

I’ve never owned a GM product (other than a 283 I dropped into an FJ40), and a K2500 that came with a ranch.

Probably never will.

But... I am thinking of buying some of their stock, just to see what happens.
So, what's it DOWN to now?

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1980 300D - Veggie Burner !

they were just removed from the Dow Jones

http://digg.com/d1sfPN

I don't know the stock value but I wouldn't go there right now. They could be off the market at anytime. CitiGroup and I think, Chrysler too...didn't they get kicked off? Can't trade them anymore....Very significant

75 cents and suspended !!

In that case... I guess I wont.


Oh well

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1980 300D - Veggie Burner !

They could, but it's all that much harder by getting rid of Opel. They need to make small/midsize cars and trucks with very fuel efficient small displacement diesels. And up the quality.

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1984 300TD

I've actually been fairly impressed with some of the GM products I've driven in the last 5-6 years. I recently drove a Cadillac CTS with a 6 speed manual transmission and it was a pretty sweet ride. To compare it with some of the crap that was manufactured in the 70's and 80's by the Cadilliac division is quite breathtaking. Anybody remember the Cimmaron? I've also driven the new Chevy Malibus that seem to be everywhere in the rental fleets and even with a 4 banger it wasn't a bad car.

I think GM's biggest problem is the fact that there are a couple of generations of younger people that have grown up driving reliable, fuel efficient, long lasting Toyotas, Hondas and other really well thought out (and built) Japanese cars.

When it comes time to buy many of these people don't even consider a GM product because they have had great experiences with other brands. It's much easier to keep a satisfied customer than it is to entice a satisfied customer to jump to a "new" brand.

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98 Dodge-Cummins pickup (123k)
13 GLK250 (135k)
06 E320CDI (323K)
16 C300 (62K)
82 300GD Gelaendewagen (54K)

Since the government is controlling them, you've got to be kidding?? Right?

Stupid buyers is right!

LMAO!

Loong past due.

They need to start building really good cars again.

Ford is winning over a lot of converts with their new cars. I'd probably buy a Ford now before a Toyota if I were shopping for a bread and butter family sedan.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Those companies had to shrink to right-size themselves, and didn't know how. They only knew how to operate in growth markets and literally had to be forced to slash and throw out huge chunks of their infrastructure. That's hard to do with their ingrained thought processes and fiefdoms trying to get control and influence.

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1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma

x2

The Cimmaron! What a POS. Cavalier with a caddy badge. Right up there with the Eldorado V8-6-4 in my book. Buddy of mine has the Caddy CTS six speed with the Corvette engine. He loves it. My partner also bought a CTS. He likes his too.
I rented a Chevy Impala in FL 2 years ago. Pretty decent car. Smooth, quiet, good economy.

My late pappy's '83 GMC Sierra long bed still rolling thru the decades. 71,000 orig miles. Engine's never been opened up. Lots of rust tho.

With the US Govt, Canadian Govt and the UAW owning upwards of 80% of the new GM, I don't see them going anywhere anytime soon. I also have little hope the company will be profitable even in a streamlined setting. At least not for oh, say, five years.

The Treasury/US taxpayers will never get paid back the 60 billion already sunk into GM. I repeat: NEVER.

Never say never.

I just wish I had some reason to say why you are wrong.

I just hope he is wrong, hope works.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

I don't make it a practice to use absolutes like "never".
In this case however, my gut tells me the money is "more likely than not" to never be repaid.

GM's 2007 Consolidated financials listed total assets of 149 billion. Lord knows what "New" GM will have as total assets at FMV.
They will never be able to pay it back through dividends. Let's rule that out up front.
What can GM possibly do in the long run to drive up the new stock price high enough (when it becomes available to the public to buy) to let the govt. recover its money by selling its stock to investors in the open market? I don't have any idea.
I don't think it's realistic in the near to mid term (use your own definitions) to expect GM to return to profitability. It'll take much, much longer to have earnings large enough to entice investors to buy back in, imo.
On the contrary, I wonder if the Treasury won't have to continue to prop these companies up further, bankruptcy or not.

The question is, will a 7,500 credit entice enough folks next year to buy a 2010 Chevy Volt at an expected msrp of $35-40,000? What other new cards is GM holding besides the Volt and a new retro Camaro?

I get paid to be a skeptic.I'll be interested to see going forward how GM's auditors handle the "going concern" reporting standards.