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Chat Area => General Discussion Area => Topic started by: Dave-C on 01 June 2009, 07:28:02

Title: GM Bankruptcy
Post by: Dave-C on 01 June 2009, 07:28:02
http://www.mercurynews.com/politics/ci_12491411

This will be worth watching, not sure if it's a sad day, or a nudge to make the world realise that it's borrowing too much in the first place.

$60 billion sounds small when you say it fast :-[
Title: Re: GM Bankruptcy
Post by: Banjax on 01 June 2009, 07:51:01
GM - massive conglomerate of various marques, failing in an economic depression so bought out by the government - sound familiar?

(http://i334.photobucket.com/albums/m411/bannjaxx/120px-British_Leyland_Logo.png)

and we know how well that turned out  :o
Title: Re: GM Bankruptcy
Post by: TheBoy on 01 June 2009, 08:20:19
There is not a car mass producer out there who is not worried.

GM's trouble is they made rubbish that nobody wants, and was arrogant enough to think if they filled the dealers with anything, it would shift.

Ford, who were in far worse condition financially around 3yrs ago, managed to start to turn things around in time before the recession really took hold in their home country.
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 10:25:29
Quote
GM - massive conglomerate of various marques, failing in an economic depression so bought out by the government - sound familiar?

(http://i334.photobucket.com/albums/m411/bannjaxx/120px-British_Leyland_Logo.png)

and we know how well that turned out  :o


Bang on again bannjaxx  :y :y  Another example of how size matters ....... in the negative sense :y :y
Title: Re: GM Bankruptcy
Post by: Marks DTM Calib on 01 June 2009, 10:34:23
Its interesting because Gm Europe have been turninga  rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.

Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 10:36:25
Quote
There is not a car mass producer out there who is not worried.

GM's trouble is they made rubbish that nobody wants, and was arrogant enough to think if they filled the dealers with anything, it would shift.
Ford, who were in far worse condition financially around 3yrs ago, managed to start to turn things around in time before the recession really took hold in their home country.

Bankrupt in design ideas, bankrupt in strategy, bankrupt in moral and fiscal responsibility and now bankrupt in actuality - are we really surprised? :-/ :-/

Seems to have more in common with our present administration the more one thinks about it :y :y
 
........and we're depending on them to provide sound stewardship of any deal to protect the employment of Vauxhall workers ::) ::)....... I hope there're not expecting too much at Ellesmere Port ;) ;)
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 10:42:07
Quote
Its interesting because Gm Europe have been turninga  rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.



I was impressed by Lord Peter's attendance at the talks in Berlin ::) ::) to ensure that the voice of British concerns about the future of Vauxhall rang loudly enough ;) ;)
Title: Re: GM Bankruptcy
Post by: Marks DTM Calib on 01 June 2009, 10:45:45
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 10:53:39
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


I hope that's not the thought uppermost in their minds, and of that governing the efforts to secure a relatively sound future up there Mark :-/ :-/.... in the negative sense of course :y
Title: Re: GM Bankruptcy
Post by: Kevin Wood on 01 June 2009, 12:10:00
Quote
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


I hope that's not the thought uppermost in their minds, and that governing the efforts to secure a relatively sound future up there Mark :-/ :-/.... in the negative sense of course :y

I would imagine it'll be a lot easier for them to ditch UK employees than German employees, especially as the German government are at least seen to be doing a darn sight more than Mandelson.

Kevin
Title: Re: GM Bankruptcy
Post by: Marks DTM Calib on 01 June 2009, 12:19:50
Quote
Quote
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


I hope that's not the thought uppermost in their minds, and that governing the efforts to secure a relatively sound future up there Mark :-/ :-/.... in the negative sense of course :y

I would imagine it'll be a lot easier for them to ditch UK employees than German employees, especially as the German government are at least seen to be doing a darn sight more than Mandelson.

Kevin

Its easy to hire and fire in the Uk and a nightmare in Germany!

The Uk governemnt do little (if anything) to encourage and support manufacturing (its got worse in the last 10 years surprise surprise) so I would expect the Uk to get hit!
Title: Re: GM Bankruptcy
Post by: Kevin Wood on 01 June 2009, 12:30:38
Quote
Its easy to hire and fire in the Uk and a nightmare in Germany!

The Uk governemnt do little (if anything) to encourage and support manufacturing (its got worse in the last 10 years surprise surprise) so I would expect the Uk to get hit!

Agreed on both counts.

It's a good job we don't need manufacturing any more, having such a strong financial sector, etc...  :-X

Kevin
Title: Re: GM Bankruptcy
Post by: Martin_1962 on 01 June 2009, 12:55:19
Quote
Quote
Its interesting because Gm Europe have been turninga  rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.



I was impressed by Lord Peter's attendance at the talks in Berlin ::) ::) to ensure that the voice of British concerns about the future of Vauxhall rang loudly enough ;) ;)


Who?
Title: Re: GM Bankruptcy
Post by: STMO123 on 01 June 2009, 13:09:47
Ellesmere Port is already tooling up to produce the new astra, so should be OK for the short/medium term. It will kill the area if they leave. I worked there in the early seventies, when we had a bad downturn and the three day week came in. There is absolutely nothing else in the area that could fill the gap if vauxhall left town.
Title: Re: GM Bankruptcy
Post by: TheBoy on 01 June 2009, 13:14:57
Possibly makes sense to close the head office at luton, concentrating on Ellesmere port, though I think they may struggle, as the track at Luton is a JV with another company
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 14:39:20
Quote
Quote
Quote
Its interesting because Gm Europe have been turninga  rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.



I was impressed by Lord Peter's attendance at the talks in Berlin ::) ::) to ensure that the voice of British concerns about the future of Vauxhall rang loudly enough ;) ;)


Who?


You might very well ask, Martin ;D :y :y
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 14:41:51
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


Agreed Mark  - but enough to cause real difficulty to those depending on the jobs for their livelihood :y
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 14:46:55
Quote
Quote
Quote
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


I hope that's not the thought uppermost in their minds, and that governing the efforts to secure a relatively sound future up there Mark :-/ :-/.... in the negative sense of course :y

I would imagine it'll be a lot easier for them to ditch UK employees than German employees, especially as the German government are at least seen to be doing a darn sight more than Mandelson.

Kevin

Its easy to hire and fire in the Uk and a nightmare in Germany!

The Uk governemnt do little (if anything) to encourage and support manufacturing (its got worse in the last 10 years surprise surprise) so I would expect the Uk to get hit!


There you have it Mark :y  that's why we, as a country, have had our asses handed to us in terms of the disintegration of our manufacturing base :y :y
Title: Re: GM Bankruptcy
Post by: Marks DTM Calib on 01 June 2009, 14:49:07
Quote
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


Agreed Mark  - but enough to cause real difficulty to those depending on the jobs for their livelihood :y

Yes but, not enough to have a great impact on the Uk voting as a whole!
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 14:50:50
Quote
Quote
Its easy to hire and fire in the Uk and a nightmare in Germany!

The Uk governemnt do little (if anything) to encourage and support manufacturing (its got worse in the last 10 years surprise surprise) so I would expect the Uk to get hit!

Agreed on both counts.

It's a good job we don't need manufacturing any more, having such a strong financial sector, etc...  :-X

Kevin


 ;D ;D ;D I've just emptied my bladder again  ;D ;D ;D
you nailed that one Kevin  [smiley=tekst-toppie.gif]
Title: Re: GM Bankruptcy
Post by: Martin_1962 on 01 June 2009, 14:51:56
I had forgotten that the term Lord had been contaminated by it being used for reptiles
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 14:58:23
Quote
Quote
Quote
Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!


Agreed Mark  - but enough to cause real difficulty to those depending on the jobs for their livelihood :y

Yes but, not enough to have a great impact on the Uk voting as a whole!


You're on to it now Mark - welcome to the dark world of political cynicism and the to complete and utter baring of our buttocks once again to the avaricious eyes of the EU :y
Title: Re: GM Bankruptcy
Post by: STMO123 on 01 June 2009, 15:31:36
Quote
Possibly makes sense to close the head office at luton, concentrating on Ellesmere port, though I think they may struggle, as the track at Luton is a JV with another company

Renault if I remember correctly and I believe that association ends in 2010.
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 16:31:27
Quote
Quote
Possibly makes sense to close the head office at luton, concentrating on Ellesmere port, though I think they may struggle, as the track at Luton is a JV with another company

Renault if I remember correctly and I believe that association ends in 2010.


The imperative factor which makes a strong case to be put by HMG for Ellesmere Port, a matter of the utmost urgency STMO  :y :y
Title: Re: GM Bankruptcy
Post by: Banjax on 01 June 2009, 21:44:22
a nice reminder of some of the best (and worst) of GM - when they wanted to - they could make some beautiful machines  ;)
....made their fair share of buckets too, mind  ;D

http://www.nytimes.com/slideshow/2009/06/01/automobiles/01GM_USER_SLIDESHOW_index.html
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 21:51:03
Quote
a nice reminder of some of the best (and worst) of GM - when they wanted to - they could make some beautiful machines  ;)
....made their fair share of buckets too, mind  ;D

http://www.nytimes.com/slideshow/2009/06/01/automobiles/01GM_USER_SLIDESHOW_index.html


You're right enought bannjaxx, there were some nails made but there also some gems :y

Just right for the time and always for me, the epitomy of the open road, big country and freedom 8-) 8-)
Title: Re: GM Bankruptcy
Post by: Andy B on 01 June 2009, 22:39:25
Quote
a nice reminder of some of the best (and worst) of GM - when they wanted to - they could make some beautiful machines  ;)
....made their fair share of buckets too, mind  ;D

http://www.nytimes.com/slideshow/2009/06/01/automobiles/01GM_USER_SLIDESHOW_index.html

If I had somewhere to keep it .... and enough money to keep the tank filled at 8 mpg  :-?
(http://graphics8.nytimes.com/images/2009/06/01/business/user10.jpg)
in another colour though  ;D
Title: Re: GM Bankruptcy
Post by: crazyjoetavola on 01 June 2009, 22:54:23
And if it had the North Star V8 engine Andy 8-) 8-)