Do you think GM will survive?

[lakebum431]

As far as banks lending money, I totally disagree. I'm actually refinancing my mortgage right now and have had zero issues getting people to line up for my business. Granted, my credit score is above 790 and my debt to income ratio is very low. So if you have good income and good credit (the key here is both) then it is not hard at all to get a loan right now.

 

[bhelms]

There should be plenty of money available for those who qualify by traditional means: good credit history and obvious ability/means to repay. I don't know the present market as I am not looking at this point, but in spite of what the media and politicians are telling us I would not expect any difficulties. The only reason I would need credit now would be if I change domicile (not likely). For everything else I will either pay cash or use a cc that I pay in full when due...

 

[televisionarchives]

As far as banks lending money, I totally disagree. I'm actually refinancing my mortgage right now and have had zero issues getting people to line up for my business. Granted, my credit score is above 790 and my debt to income ratio is very low. So if you have good income and good credit (the key here is both) then it is not hard at all to get a loan right now.

I don't have any problem getting credit either but, I don't have any debt. Both of my homes are paid for. I keep my cars for 10 years at least. I had to work my butt off for the last 17 years but it's worth it. I knew this day would come.

 

[Sadoun]

The UAW is not the reason for GM to fail. It is the arrogance of the company for so many years. They failed to see the opportunities and were way too slow to bring cars that people want to buy.

Add to that a legacy retirement and health benefits system, low productivity, too many brands competing against each others, too many dealers, and way too many models.

They were late to implement Hybrid technology in their cars, even though they had a great electrical car (under development) going for them back in 2001.

 

[gbjbany]

I think GM will survive after going thru bankruptcy, and come out with many less brands.
I find it strange that there really is a need for multiple versions of every truck, car etc. This requires multiple tooling, dealers etc , I assume to maintain a brand name .

The rest of the world seems to be able to do without multiple brand names of the same vehicle, they just add trim levels to the same one.

 

[Derwin0]

The UAW is not the reason for GM to fail. It is the arrogance of the company for so many years. They failed to see the opportunities and were way too slow to bring cars that people want to buy.

Add to that a legacy retirement and health benefits system, low productivity, too many brands competing against each others, too many dealers, and way too many models.

Arn't the 2 statements above contradictory? the "legacy retirement and health benefits system, low productivity" is a direct result of the UAW.
The non-Big 3 (ie. non-union) automakers don't seem to have those problems in their North American plants.

 

[lakebum431]

Arn't the 2 statements above contradictory? the "legacy retirement and health benefits system, low productivity" is a direct result of the UAW.
The non-Big 3 (ie. non-union) automakers don't seem to have those problems in their North American plants.

You're exactly right. Except I would expand it to the legacy benefits system in general - not just health and retirement (which are a direct result of the union).

 

[navychop]

Just remember, long ago, they really were separate, completely different cars. Then they started "cost cutting" and ran the same cars out under different brands, slightly different nameplates, colors, trim.

 

[voomvoom]

I didn't vote because none of the choices fit with what I think.

Well because I have worked for GM since 1992 I hope they will survive. I think they will need to file bankruptcy to protect them and to change the union contracts that is killing them at the moment.

But, this comes close to what I think, only I'll add that they will take the Government money, and eventually still go bankrupt, to do as thiggin suggest above (highlighted)...... really to get out of the Union Contracts and put it or a portion of it on the people.

 

[Sadoun]

Arn't the 2 statements above contradictory? the "legacy retirement and health benefits system, low productivity" is a direct result of the UAW.
The non-Big 3 (ie. non-union) automakers don't seem to have those problems in their North American plants.

The UAW is not blameless, but they are not the only side to blame. It takes both sides (management and UAW) to make it happen. Both have failed by following arrogant paths with little compromise.

At the end, it takes a well designed product and high quality manufacturing to produce a car that people want to buy.

My career started at GM years ago in management as a manufacturing/mechanical engineer & supervisor. I really enjoyed and loved my work there. However, I saw many deeds (by management and union members) that made me not wanting to stick around and leave.