GM announces big plans

[bigvegan]

http://www.latimes.com/business/la-f...,7093793.story

Interesting stuff. It will be interesting to see if they can pull this off.

[Tony_SS]

Depends on who exactly 'they' are.

[Steven]

I heart and prayers to any and all that loose their job.

[-The Stig-]

... now I'll never be able to get rid of my Pontiac... great.

[Bishop73]

... now I'll never be able to get rid of my Pontiac... great.

Sure you will, our G8's will be collector items!!

[-The Stig-]

haha.. you bought one too?

[Bishop73]

Yeah, '09 GT PBM. Love it!!

[Slow Ride]

I gotta get my G8 GXP soon.

[Code Red]

i'll buy a g8 in a few years after some hit the used market probably a GT maybe a GXP depending on price

[moreHP]

I had been considering a G8 and now with all this going on, I bet there will be some deep discounts on them. Local dealer even has a couple GXP's there.

[andrewb70]

What a cluster f**k.

Andrew

[Tony_SS]

What a cluster f**k.

Andrew

That's the understatement of the year.

[BonzoHansen]

So if this goes through (unsecured bondholders will not go for it), we the US taxpayer will own 50% of GM and the UAW will own 39%. The inherent conflicts of interest are stupefying.




Management’s only job is to maximize shareholder wealth. Management = actual execs and board of director members. Major shareholders basically get to pick the board.

Uh-oh, fiduciary responsibilities! Does the government want to maximize shareholder wealth (based on what they did to BofA I’m guessing no), push a green agenda, prop up the UAW by backing pro-union decisions? Now the UAW owns a big piece, do they fight non-union contracts/suppliers that help UAW members but hurt shareholder wealth? I never thought he UAW would take management/ownership position for just this reason. Must be some craziness behind the scenes.

[ebncrdr]

I dont understand. Why get rid of pontiac, whos car's have created some buzz lately, and keep GMC and Buick. Cadillac is the flagship luxury brand, not Buick. GMC is a Chevy with a different grille, its just redundant.

[jy211]

GMC, internationally, is a money maker from what I've heard..

[BonzoHansen]

GMC 'makes' big trucks chevy does not.

[Damn True]

GM makes Chevy trucks and GMC trucks.

[moreHP]

GMC 'makes' big trucks chevy does not.

Thats true. And GMC has been a money maker where Pontiac has not.

[BonzoHansen]

GM makes Chevy trucks and GMC trucks.

Right, thus the 'makes', lol. I mean they have a successful commercial presence.

[Damn True]

I know....I was being facetious.