OnePercenter
Gold Member
- Apr 10, 2013
- 23,667
- 1,880
Futile spin, bub. The excessive liabilities due to union contracts caused GM to get rid of dealerships and car lines. If the situation were due only to the GMAC Mortgage and DiTech businesses, separating from them would have meant that the auto business in an of itself was healthy. It wasn't. It was bankrupt due to a bloated cost structure.
General Motors bankruptcy: End of an era - Jun. 1, 2009
Futile spin, bub. The excessive liabilities due to union contracts caused GM to get rid of dealerships and car lines. If the situation were due only to the GMAC Mortgage and DiTech businesses, separating from them would have meant that the auto business in an of itself was healthy. It wasn't. It was bankrupt due to a bloated cost structure.
General Motors bankruptcy: End of an era - Jun. 1, 2009
If GM hadn't gone into the mortgage business they wouldn't have had an issue.
Wrong again. Excessive liabilities owed for pensions and union contracts caused the Auto Business bankruptcy, as I have already proven in other posts.
Wrong again. Excessive liabilities owed for pensions and union contracts caused the Auto Business bankruptcy, as I have already proven in other posts.
Bullshit. Bad, very bad corporate decisions are the stem of GM's problem.
1) Not concentrating on a better automobile and truck.
2) The old full-size Impala.
3) Commercial truck market. ALL of their trucks over the past 20 years are crap.
GM, like every other large corporation that failed, was due to not re-inventing/improving and making a better widget.
It's difficult to make a better widget when the labor costs make widget making economically unviable.
Just sayin'.
It's difficult to make a better widget when the labor costs make widget making economically unviable.
Just sayin'.
The problem with GM isn't wages, it's bad decisions made by the ivory tower.