Government Motors
- Thread starter moreluck
- Start date
Brownslave688
You want a toe? I can get you a toe.
All cars built today have parts from all over hell lots of Toyota are assembled here. One of my first jobs was building emergency brakes for Toyota Honda and Nissan right here in the USA
moreluck
golden ticket member
Lucky us.
Via WFB:
Via WFB:
Despite President Barack Obama’s stories about a resurgent GM ready to repay its bailout tab, the automaker and its former bank still owe taxpayers nearly $42 billion, according to an inspector general’s report.
GM owes $27 billion on the nearly $50 billion it received from the auto bailout and Ally Bank, the company’s lending arm, owes $14.7 billion of the $17.2 billion taxpayer-funded bailout it received.
Obama has promoted the auto bailout as a success story, highlighting the manufacturing jobs it may have saved in swing states such as Ohio and Michigan.
GM’s stock has plummeted in recent months after stagnant development in overseas markets. It hit a new low on Wednesday, falling to $18.80, a 52 percent drop from its January 2011 high of $38.90.
“In order to recoup its total investment in GM, Treasury will need to recover an additional $27 billion in proceeds. This translates to an average of $53.98 per share on its remaining common shares in New GM,” the IG report concluded.
GM owes $27 billion on the nearly $50 billion it received from the auto bailout and Ally Bank, the company’s lending arm, owes $14.7 billion of the $17.2 billion taxpayer-funded bailout it received.
Obama has promoted the auto bailout as a success story, highlighting the manufacturing jobs it may have saved in swing states such as Ohio and Michigan.
GM’s stock has plummeted in recent months after stagnant development in overseas markets. It hit a new low on Wednesday, falling to $18.80, a 52 percent drop from its January 2011 high of $38.90.
“In order to recoup its total investment in GM, Treasury will need to recover an additional $27 billion in proceeds. This translates to an average of $53.98 per share on its remaining common shares in New GM,” the IG report concluded.
klein
Für Meno :)
Harper celebrates GM Canada's research investment
Prime Minister Stephen Harper says today's announcement by GM Canada that it is investing $850 million in research and development honours a commitment made after his government helped bail it out and he called it a symbol of the company's recovery.
The major investment is set to last until 2016 but the company, and the prime minister, say the benefits for the auto industry will live on long after the cheques stop flowing.
Harper said that when his government and the Ontario government pitched in $10.5 billion to help keep GM Canada afloat in 2009 they helped prevent the long-term devastation of the auto sector in Canada.
"It was a difficult decision but under the circumstances, it was the right one. Indeed it was the only one,"
Prime Minister Stephen Harper says today's announcement by GM Canada that it is investing $850 million in research and development honours a commitment made after his government helped bail it out and he called it a symbol of the company's recovery.
The major investment is set to last until 2016 but the company, and the prime minister, say the benefits for the auto industry will live on long after the cheques stop flowing.
Harper said that when his government and the Ontario government pitched in $10.5 billion to help keep GM Canada afloat in 2009 they helped prevent the long-term devastation of the auto sector in Canada.
"It was a difficult decision but under the circumstances, it was the right one. Indeed it was the only one,"
texan
Well-Known Member
I shared when it (Volt) was doing real bad, now to be fair:
General Motors Co. (GM) (GM)’s Chevrolet Volt was the best-selling rechargeable auto
in the U.S. in the first half, racing ahead of Toyota Motor Corp. (7203)’s plug-in Prius
and Nissan Motor Co. (7201)’s all-electric Leaf hatchback.
Volt sedan deliveries more than tripled to 1,760 in June from 561 a year earlier and
rose 221 percent in the first half to 8,817, GM said.
Toyota sold 695 units of the rechargeable Prius last month and 4,347 since its March
introduction. Leaf sales fell 69 percent in June to 535 and 19 percent this year
to 3,148, as Nissan switches to direct dealer sales of the car.
Demand for Volts has risen in California, the main market for rechargeable autos, after
Detroit-based GM modified the car’s warranty and emissions to qualify it for state
rebates and lone drivers to use carpool lanes.
The improvement came after GM briefly halted Volt assembly this year when sales
cooled on news of battery-pack fires following crash tests.
Chevy Volt Leads U.S. Plug-In Car Sales as Leaf Slows - Businessweek
General Motors Co. (GM) (GM)’s Chevrolet Volt was the best-selling rechargeable auto
in the U.S. in the first half, racing ahead of Toyota Motor Corp. (7203)’s plug-in Prius
and Nissan Motor Co. (7201)’s all-electric Leaf hatchback.
Volt sedan deliveries more than tripled to 1,760 in June from 561 a year earlier and
rose 221 percent in the first half to 8,817, GM said.
Toyota sold 695 units of the rechargeable Prius last month and 4,347 since its March
introduction. Leaf sales fell 69 percent in June to 535 and 19 percent this year
to 3,148, as Nissan switches to direct dealer sales of the car.
Demand for Volts has risen in California, the main market for rechargeable autos, after
Detroit-based GM modified the car’s warranty and emissions to qualify it for state
rebates and lone drivers to use carpool lanes.
The improvement came after GM briefly halted Volt assembly this year when sales
cooled on news of battery-pack fires following crash tests.
Chevy Volt Leads U.S. Plug-In Car Sales as Leaf Slows - Businessweek
moreluck
golden ticket member
I can vouch for that here. We took our Tahoe in for service and saw rows of the Volts just parked there.
UpstateNYUPSer(Ret)
Well-Known Member
Do you have a flux capacitor for a DeLorean?
Babagounj
Strength through joy
Let's do some simple math, ok.
Auto manufacturing hourly wage in The USA......$ 55.00 {GM}
Tennessee...$ 17.00
Mexico.......$ 7.00
India..........$ 1.00
Now in order to maximize your profits to your shareholders , where would a company choose to build their vehicles ?
Auto manufacturing hourly wage in The USA......$ 55.00 {GM}
Tennessee...$ 17.00
Mexico.......$ 7.00
India..........$ 1.00
Now in order to maximize your profits to your shareholders , where would a company choose to build their vehicles ?
Babagounj
Strength through joy
[h=1]GM Invests $600 Million in English Soccer Team[/h]
[h=2]Yes, General Motors really is giving $600 million to an English soccer club. Actually, as the team involved, Manchester United, is the most valuable team in sports, an investment in the club wouldn't be a bad idea, considering how everything else is going at General Motors. No, the $600 million GM is giving to Man United over the next 7 years is a sponsorship deal. In return, Man United will wear "Chevrolet" on their jerseys and GM will be able to call itself Man United's "global automobile partner." It will immediately have the edge with all those consumers who look to their favorite soccer club for car buying advice.[/h]
There is a very good reason government shouldn't bailout failing companies with buckets of taxpayer money. The money simply allows them to keep on making the disastrous decisions that got them to be a failing company in the first place. At least straight-up bankruptcy would have probably rooted out the kind of people who would think spending $60-70 million a year to have your logo on a soccer jersey was a swell idea.
The other problem with people whose pockets have been lined with lots of taxpayer cash is that they will overspend on their crazy ideas. Man United's current sponsor, AON, an insurance company was spending around $30 million a year to have their logo on the players' jerseys. So, they are throwing around twice the cash to advertise a brand that has almost no sales in Britain.
Note: Before AON, Man United's sponsor was AIG. See how that worked out.
Can we please stop bailing out failing companies? General Motors has moved from a tragedy to a farce.
[h=2]Yes, General Motors really is giving $600 million to an English soccer club. Actually, as the team involved, Manchester United, is the most valuable team in sports, an investment in the club wouldn't be a bad idea, considering how everything else is going at General Motors. No, the $600 million GM is giving to Man United over the next 7 years is a sponsorship deal. In return, Man United will wear "Chevrolet" on their jerseys and GM will be able to call itself Man United's "global automobile partner." It will immediately have the edge with all those consumers who look to their favorite soccer club for car buying advice.[/h]
There is a very good reason government shouldn't bailout failing companies with buckets of taxpayer money. The money simply allows them to keep on making the disastrous decisions that got them to be a failing company in the first place. At least straight-up bankruptcy would have probably rooted out the kind of people who would think spending $60-70 million a year to have your logo on a soccer jersey was a swell idea.
The other problem with people whose pockets have been lined with lots of taxpayer cash is that they will overspend on their crazy ideas. Man United's current sponsor, AON, an insurance company was spending around $30 million a year to have their logo on the players' jerseys. So, they are throwing around twice the cash to advertise a brand that has almost no sales in Britain.
Note: Before AON, Man United's sponsor was AIG. See how that worked out.
Can we please stop bailing out failing companies? General Motors has moved from a tragedy to a farce.
moreluck
golden ticket member
I finally saw a Chevy Volt for the first time the other day, it was sitting in a consignee's garage as I was making a delivery. He lives close to work, so he doesn't put much gas in it. The owner said he liked it, he gets 40 miles to a charge and he got a bunch of rebates and tax credits for it.
I have an older brother that works for a GM plant in Shreveport, LA. It shuts down at the end of this month. My brother has 25 years in and will be able to transfer to a plant in Missouri to start over at the bottom of the seniority list. He is a plumber-pipefitter, he has a job maintaining the assembly line. So he will stay behind for a little while and help dismantle the plant before he moves.
The Cadillac Division of GM is going to start building three different types of cars in China, so much for saving American jobs. I'm not planning on buying anymore GM products. In the past, I have bought seven GMs, two Dodges, and the last one was a Ford that I am quite happy with.
I have an older brother that works for a GM plant in Shreveport, LA. It shuts down at the end of this month. My brother has 25 years in and will be able to transfer to a plant in Missouri to start over at the bottom of the seniority list. He is a plumber-pipefitter, he has a job maintaining the assembly line. So he will stay behind for a little while and help dismantle the plant before he moves.
The Cadillac Division of GM is going to start building three different types of cars in China, so much for saving American jobs. I'm not planning on buying anymore GM products. In the past, I have bought seven GMs, two Dodges, and the last one was a Ford that I am quite happy with.
texan
Well-Known Member
GM recalls over 38,000 police Impalas in North America
NEW YORK – General Motors is recalling at least 38,000 Chevrolet Impala police vehicles in North America
because the lower front control arms could break, creating a possible crash risk.
A Reuters report says the recall covers 36,413 police cars in the U.S. and 1,713 more in Canada, according
to GM as well as documents filed with the National Traffic Safety Administration.
It includes cars from model years 2008 to 2012. Non-police versions of this Impala are not affected.
Read more: GM recalls over 38,000 police Impalas in North America | Fox News
NEW YORK – General Motors is recalling at least 38,000 Chevrolet Impala police vehicles in North America
because the lower front control arms could break, creating a possible crash risk.
A Reuters report says the recall covers 36,413 police cars in the U.S. and 1,713 more in Canada, according
to GM as well as documents filed with the National Traffic Safety Administration.
It includes cars from model years 2008 to 2012. Non-police versions of this Impala are not affected.
Read more: GM recalls over 38,000 police Impalas in North America | Fox News
texan
Well-Known Member
Great, I have a personal moderator now. 
Supporting my country.... hmm 22 years US Army is nothing I guess.
Truthfully, as I might consider a new car, I should consider Ford.
Union, US, but not government owned and managed.
It is an interesting news story that 38,000 GM police cars need to be recalled to me.
It is a news wire.
I will re read the below again and see where I am wrong.
Terms of Service and Rules | BrownCafe - UPSers talking about UPS
Shalom
texan
Supporting my country.... hmm 22 years US Army is nothing I guess.
Truthfully, as I might consider a new car, I should consider Ford.
Union, US, but not government owned and managed.
It is an interesting news story that 38,000 GM police cars need to be recalled to me.
It is a news wire.
I will re read the below again and see where I am wrong.
Terms of Service and Rules | BrownCafe - UPSers talking about UPS
Shalom
texan
Last edited:
brett636
Well-Known Member
I don't know why you are attacking him. It could have been worse, they could have forgotten to install the brake pads at the factory (GM recalling Chevrolet Sonics to check brake pads - Yahoo! Finance) or failed to properly lock in the steering wheel causing it to come off while driving (Chevy Recalls Cruze After A Steering Wheel Falls Off - Driver's Seat - WSJ).
I am so glad we lost so much taxpayer money saving this company!
I am so glad we lost so much taxpayer money saving this company!
Last edited by a moderator:
moreluck
golden ticket member
Babagounj
Strength through joy
[h=2]Head of GM’s Chevy Volt Program Named CEO of Obama-Funded Electric Car Maker Fisker Automotive…[/h]
Tony Posawatz, the former head of the Volt program at General Motors, has been named the new CEO of Fisker, as the automaker hunkers down on development of its second model, the Fisker Atlantic.
Posawatz is now the third CEO to man the helm at Fisker, following the appointment of Tom LaSorda this past February, who took the reigns from the company’s founder, namesake and current Executive Chairman, Henrik Fisker.
I wonder if this means that production of this car will move back to the USA ?
Tony Posawatz, the former head of the Volt program at General Motors, has been named the new CEO of Fisker, as the automaker hunkers down on development of its second model, the Fisker Atlantic.
Posawatz is now the third CEO to man the helm at Fisker, following the appointment of Tom LaSorda this past February, who took the reigns from the company’s founder, namesake and current Executive Chairman, Henrik Fisker.
I wonder if this means that production of this car will move back to the USA ?
brett636
Well-Known Member
Necropostophiliac
Well-Known Member
No way. They now run things like the Postal Service right?
No I guess I am out of line with that one.
