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The vast majority of folks say no because they either have or know someone that was shafted with GM crap. So whether GM is bankrupt, propped up by the government, or somehow manages to return to solvency, these people will not buy a GM car. I personally would consider a used one, but not a new one. I know several long time GM fans that feel the same way after dealing with GM regarding carious issues in recent years. That is why they should go bankrupt. Saving GM is dumb. It is like cutting out a chunk of your thigh that is going gangrene in the hope that it hasn't spread to the toes. The only problem is the toes are either already gangrene or will die due to the operation on the thigh. It is better to cut the leg off and deal with the aftermath as best as possible. The government is operating like it is a teaching hospital with nothing else to do instead of providing the field medicine the country really needs. Heck, they should ban Wagoner and most of the executive bozos from have any executive role in any company in the future. It’s cheaper and faster than show trials. How much cash has GM squandered since Wagoner took over? How much is the lost opportunity cost worth?
Wagoner has been quoted as blaming “30 years of management mistakes” at GM. The only problem is Wagoner was there for at least half of that period.
Now that we have put easily 400 billion into various failed companies, these companies have cleverly made it even more difficult to walk away.
As for the suppliers, their fate is not known, contrary to the talking heads’ viewpoints. Does anyone even question who is paying all these talking heads for their views? Prohibition banned beer, but Anheuser-Busch survived. Many establishments that relied on alcohol sales actually made more money, not less because of prohibition. Innovation is America. Maybe that sleepy GM parts supplier can retool and start making something good, maybe even becoming more profitable without GM. I think there is more risk of suppliers leaving GM in the dust than all the suppliers simply going under. Same with the dealers…the good ones will survive and the scummy ones will close up shop. GM has stifled entities in anyway linked to the company.
posted by 69.112.185...
, Fri, 27 Feb 2009 22:18:46
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