There are a whole lot of Americans, even if you only count us “middle” North Americans. That $100 a pop works out to a whole lotta loot. I saw a wonk on TV today who said that it is unlikely that GM will ever make enough to pay us back completely. He had numbers (he thought it out). A GM pal was next asked what he thought of the analysis, and he said that there were other ways to measure value beside just dollars and cents. I assume that means he believes the analysis was reasonable. Caddyman! Just the way you said!
Hummer’s gone! Hummer’s gone! The Chines bought it!
Well, Sichuan Tengzhong Heavy Industrial Machinery bought it.
Who are They, anyway…?
For what reason did 5 stars appear here?
Who are They, anyway…?
Your new boss…
We better start teaching our kids Chinese so they can understand their new supervisor…
I think they will succeed- when they build cars people actually want. Isn’t it interesting, as the economy slowed, car sales plummeted. GM and Chrysler fell the most. Why? In the public’s new priority they didn’t need a new SUV or truck. People were buying cars based on affordability not need or attraction and when crunch time came ,they chose need , but didn’t buy GM. The exterior designers should all be fired for producing the most boring looking cars. Except for the Corvette and Caddys. Also , it is beyond stupid that the great GM couldn’t design , build and sell an affordable small car at a profit. I blame the union for that and management without the balls to stand up and do the right thing. Their poor management , both financial and in product development has come home to roost.
Note: the Chevy Volt’s expected selling price $40K. As opposed to the Prius- about 25K etc. They are making the same mistake Honda made with their accord hybrid. By making it a premium car you drastically cut the available market and sales will suffer. Why not have a small/ midsize no frills hybrid you could sell for 16 or 17K? It would sell in volume… The Honda Fit is expected to come in that range. I wonder how long the Volt will last with that kind of competition…
Let’s see, Hummer does produce vehicles for the U.S. military, so now the Chinese will be in charge of Humvee production for our military??? Charmed, I’m sure.
Last night, NBC aired the first night of its coverage of Brian Williams’ extended visit to the Obama White House. While the topic of GM did come up in their conversations, some of the most “revealing” information about GM came about in a most unusual way.
It seems that Williams was able to take a ride in the new hand-built armored Cadillac limousine that GM proudly built for the White House fleet. (Actually, while it looks like a Cadillac, it is believed to have been built on a truck chassis, due to its incredible weight and size)
During the ride, Williams and Obama conversed on various topics, but the loudest noise during most of that ride was the incredibly LOUD rattling noises that reverberated through the car’s interior every time that it hit a bump. If GM can’t do some final de-bugging of a custom-made, “showcase” car in order to eliminate rattles, that certainly doesn’t speak well for attention to details at that company.
I don’t know. The post I responded to was factually incorrect. I would not have given it any stars.
I think that Mr. or Ms. Hamel is locked into World War II-era thinking, if he/she believes that GM & Chrysler build either tanks or planes for the government. Chrysler was probably the last to lose its defense contracts (tanks and missiles), but even that era was at least 30 years ago.
Agree it’s a crapshoot if GM will recover sufficiently in the near future to sell enough new stock and pay back the taxpayers. Some say they’ll be back at the trough in a few years. Economists taking the broader view see this as a way to secure the vast parts making business, which employs 5 times as many workers as the assemblers.
Business professors, on the other hand, believe it distorts the market and that saving GM and Chrysler will make it so much more difficult for Ford in a depressed 10 million unit market.
I see your point, but I wouldn’t read too much into that. My guess is that car was built on a deadline to comply with a spec sheet beyond our imagination. They released some of the unclassified specs and even those included a self-contained air scrubbing system. The vehicle is basically a one-off self-contained survival fortress with encrypted satellite communications capabilities built on a truck chassis. When you’re building a rolling fortress and survival bunker and making it look like a car you may have to go back in after a rattle.
GM does not build the HumVee; AM General does. AM General licensed GM to build the non-military versions of the Hummer. AM General is not part of GM, so they are not affected by this sale. AM General answered this question in their corporate FAQ. Apparently it comes up frequently.
Ah, I didn’t know that. Thank you JTS for clarifying that! My ignorance.
Zipcar, a fast growing urban car rental company with 300,000 members does not own a single GM vehicle. When asked why, the CEO said “None of our customers ever asked for one”
What is their MOST requested vehicle? the Mini-Cooper.
THIS is the problem GM must overcome. Their IMAGE as expressed by consumer demand is near ZERO…
I agree fully…
The problem in decision making at GM for years was to make cars for their fleet market sales as it accounted for nearly thirty percent of their total . Low initial cost to beat the bid wars meant lots of duplication of parts throughout their line and lower long term quality. That’s why these cookie cutter cars were even dismissed by the renting crowd when they could have a much more fun to drive Mini…even a Corolla. Renters still have to buy the gas.
Their reputation now keeps even their better cars, which are very good, from being part of many peoples choice for ownership or rental. They kept biting the hand that fed them for years…sticking it to the repeat owners and their brand loyalty til they left in droves for Toyotas. We know plenty of them personally.