For those that follow my blog, and if you had read my July 15, 2009 blog entry you would have read:
You see I have this thinking that GM management still does not get it. If you looked at the framework of the deal GM America still held a huge chunk of Opel and could buy it back. I am getting the feeling that GM feels that this is just a “road bump” and when things get better everything will be back to normal. However, I don’t think that will happen because GM is missing the point.
GM played a game! And the grandest part is that they played a game with you the American tax payer. Think very hard about this. They duped the European government by stalling, stalling, stalling. Do you think they only duped the Europeans?
No, they duped the American government and the American taxpayer! They are going back to old habits to show just how good they are. Next year GM will do an IPO so that they can dupe share holders yet again!
But like the dance that they have been doing time and time so far, GM “apologizes” for the discussion marathon. Hey progress is made where GM says that they only need 3 Billion Euros’, not the 4.5 billion that Magna needed.
Die Kosten belaufen sich nach vorläufigen Schätzungen auf drei Milliarden Euro. „Das ist deutlich weniger als alle Investoren-Angebote“, so der GM-Chef.
Wow, GM, are you doing ANOTHER DUPE?
As I said back then, GM will go bankrupt again because they don’t get it! Just today I heard how excited they are on the Camaro.
GM’s monthly sales increase was the first year-over-year rise in 21 months for the automaker that emerged from bankruptcy in July. It reflected rising demand for its new cars such as the Chevrolet Camaro and its trucks.
G.M. also spent heavily to advertise its 60-day, money-back guarantee on its models. So far, the program has increased showroom traffic. And of the 142,000 vehicles sold since it began, only four have been returned, Ms. Docherty said. Forty-nine consumers are in the process of bringing their vehicles back.
Ms. Docherty conceded that G.M. still had far to go to improve its reputation. Its sales incentives remain among the highest in the industry, and only a dozen of its vehicles were judged reliable in a recent Consumer Reports survey.
This is the fundamental problem with GM, they sold in the past with sales incentives, and are selling now with sales incentives. They are still not working towards reliability or towards the future. Whereas Ford and other car markers are working day and night towards fuel efficiency and smaller cars that people would like. But hey GM has the Camaro, and its trucks with folks like Jay Leno pumping up the model. Hey Jay, Johnny Carson gave up the stage to let you on it, why don’t you do the same!
Oil is not coming down anytime soon. Take a look at the historical oil prices.
Oil at 80 USD is here to stay! It might drop down to say 40 or 50, but oil is at 80, and gas will remain high! So if you buy a GM guzzler you are only fooling yourself…