• rustbelt Posted: 3/19/2009 5:24am PDT

    "chap 11"

    im surprised that they've even lasted this long. when i switched from cadillac to german luxe decades ago...i havent been back since. detroit didnt know how to make good cars then and its still only subpar now. i was tired of the fisher price interiors and flimsy switches. audi has had it right from the very beginning.

  • Mr. D Posted: 3/18/2009 1:07pm PDT

    "Hand Writing on the Wall"

    Wagoner is sounding the alarm because (1)the task force did not think that the plan that GM proposed will work, or (2) the bondholders are balking at converting to stock. The shareholders have already taken it on the chin. The union has given its pound of flesh. It is pitiful how the myopic and greedy methods of GM have largely gotten the company into this fix. Instead of supporting increased CAFE ratings, GM management sent lawyers to Congress to fight it. GM then gets whipsawed when the gas prices skyrocketed. Having vehicles that exceeded the CAFE ratings would have helped. Also, outlandish senior management salaries and bonuses were sanctioned by the Board for the wrong performance measures when GM was losing money by the basket full since 2005. Talk about AIG! Instead of the benchmark being achieving across the board above average reliability ratings from Consumer Reports, GM set a benchmark of getting an award here or there for Motor Trend Car of the Year. The Board also set the senior executive compensation plan or salary structure based on non-related companies such as Johnson and Johnson and IBM, instead of against relevant companies like Honda and Toyota, which paid salaries at a lower level and included bonuses based on positive net income and efficiency and reliability targets. Reliability issues could have been addressed by expanding NUMMI, killing the Delta platform, and putting current Delta bodies (e.g., HHR, Cobalt, G5, Astra) onto the Corolla/Matrix/Vibe platform. NUMMI expansion, even to other GM plants, could have included utilizing the Camry/Avalon platform for replacement of Epsilon vehicles (e.g., Aura, G6, Malibu) and larger front wheel vehicles such as Impala, and utilizing the Hybrid Synergy Drive System to significantly bump fuel economy numbers. Furthermore, fuel economy issues could have also been addressed had diesel engines from Isuzu been certified and offered in pickups, SUVs, and larger vehicles such as various Cadillacs and Impala. Isuzu diesel engines were good enough for use by Honda in Europe. The only positive side of the company going belly up is that the Chairman and the Board, who largely responsible for running GM into the ground, will no longer be able to collect a check from GM and probably no one else. For those that blame the union, the German unions have higher salaries and better benefits and their companies are still prosperous -- BMW, Daimler, Porsche, and VW.

  • Ron Stopfer Posted: 3/18/2009 4:17am PDT

    "Chap 11 ALL - DAY - LONG!"

    Chap 11 is the ONLY resolution that could possibly save the Big-3. Chap 7 would only close their doors. Going the 11-route would allow them to clean house with the blood-sucking unions, their obscene salaries, pensions, health care, benefits, "don't work fund...95% pay to sit home forever...", etc. Fire the heads, sub-heads, etc., until they (not we)are ready to see new daylight on designs, salaries, production, NO MORE UNIONS, etc. Phuc'em.

  • R2dad Posted: 3/17/2009 9:07pm PDT

    "a little late now..."

    Rick Wagoner is a tool, born for a different age. The task force should stipulate that Wagoner should be fired for cause and GM gets the additional cash, or Rick can manage chapter 11 without the benefit of US taxpayer assistance. Oh, and dump the entire board for total incompetence. This charade has gone on long enough.

  • Mike Posted: 3/17/2009 6:49pm PDT

    "GM Dug Its Own Grave"

    GM dug its own grave, now let it fall in

  • Jim Posted: 3/17/2009 6:20pm PDT


    General Motors was first in line against the steel companies during the International Trade Commission hearings for illegally dumped steel. The UAW was nowhere to be seen with their slogan of Union Brothers and Sisters. American Made. What goes around comes around.

  • JKD Posted: 3/17/2009 5:09pm PDT


    He and his execs should follow the Japanese model instead of talking trash :-)