GMC Done Like Dinner! $9.6 Billion Loss.

[SASKFARMER3]

Lets just say Bailing out the Auto sector was like trying to plug the hole on the titanic with duc Tape.
The Big Unions with their pensions and health and 72.00 hour killed GMC.
Hell I drive GMC vehicles My first car was a fast GM Vehicle. But these guys just didn't get how to keep a Icon going. They caved to the Unions and got to big for their britches.
So we poured Billions into this company that should have declared bankruptcy back in fall. Simply save a few thousand Ontario Jobs (Lots of Jobs in Saskatchewan).
Our Livestock industry is going down the tube in a hand basket yet their is no help from the feds.
Cow Calf operators are liquidating their herds every day.
Why because their has never been any help available. Grain farmers realize this the years it froze all the programs do is keep people working in City to administrate this crap.
But they never learn in Ottawa, some times its better to let the market rule.
GMC Chrysler will be done! Sad really.

[cottonpicken]

Does anybody know if we gave them their 10 billion they asked for recently?

[carebear300]

It has always been my philosophy that the market should determine wkho should survive, but nowadays I sometimes wonder. What will we actually have our people do in this country? We can't all work for the government. And if the government regulators don't do their job, you have big melt downs like the banking industry in the states. Back to the manufacturing industry, wehave to make up our mind in this country if we are going to build anything or not. We know that we can't compete with the wages in the third world. The same as no matter what the majority think on this site, we can't produce as cheap as somebody else that sreceives massive subsidiles. We are just fooling ourselves, as we wear out iron and eat up accumulated equity. I say let the banks and beaureaucrats farm, they will soon find out what it is like.

[Fransisco]

You know I remember when I was a teenager board supporters pointing to GM as a company that wasn't just a "price taker". That they could stop making cars at any time and 'poof' the price for their vehicles would go up.

It's been a long time since I've heard those arguments.

[bgmb]

These companies will go broke. But I doubt the GM name will disappear someone will come in and buy up the assets and start over there will probably be some job losses and definately some wage cuts. But there will still be an industry.

Wages will probably be cut in half and housing values will drop in these auto towns, overpaid workers will be forced to a lower standard of living.

Without the unions the wage market will realign again and autoworkers won't be making as much as doctors accounts and lawyers.

at least that's what should happen...

[wade]

I remember as a kid growing up, hearing my parents visiting with the neighbors and commenting on how "things" couldn't keep on going up, that it had to stop sometime. It seems that the time is here.
I am wondering if after everything has stabilized, will our purchasing power be the same? If so, after a bit of time for this to happen, so what?
I guess I would make a bad TV news broadcaster-lol.