GM: BRACE FOR MORE CUTS

[shugah]

GM: BRACE FOR MORE CUTS
$8.6-billion loss puts pressure on jobs and pensions
January 27, 2006

General Motors Corp. warned of more cutbacks after the company capped a disastrous 2005 by reporting on Thursday an $8.6-billion loss for the year, the second-largest loss in the history of Detroit automakers.

The larger-than-expected loss raised more concerns among GM's executives and workers about the automaker's shaky future and sent the automaker's already battered stock down 3.35%.

GM's bad news is the second in a week for Detroit's two largest automakers. Ford Motor Co. on Monday said it would stop production over the next six years at 14 North American facilities, and cut 25,000 to 30,000 hourly jobs to stem its losses in North America totaling $1.6 billion in 2005.

~snip~

GM has been hurt by falling demand for its highly profitable SUVs and pickups; it could lose its position as the world's largest automaker to Toyota.

http://www.freep.com/apps/pbcs.dll/article?AID=2006601270339

[fasttense]

1. They might also have been hurt by the 2.5% import tax

on foreign cars in the US while most countries put a 25% import tax on US cars. Free market at it's best, oh wait, import taxes, hmm is that free market?

[OneBlueSky]

2. what are the chances of both Ford and GM completely . . .

moving their entire operations to other countries? . . . and thus completing the near total destruction of America's manufacturing base? . . .

[Sub Atomic]

3. If that happened, I'm sure it would be Clinton's fault.

He did get a blowjob after all.

:sarcasm:

[hatrack]

4. No doubt about it - let us never forget that Clinton lied about blowjobs!

:eyes:

[midnight armadillo]

5. Any second now...

Someone will jump into this thread and post how THEY bought a GM (or Ford) car, THEY're the patriots who supports union workers, and how those of us who dared buy some other car hate blue collar workers and America.

It happens every single damn time bad news about Ford or GM is posted. Me, I own an Indiana-built Subaru (bought used) and a Saab (GM owned company, bought used). That's right, I buy used cars...so my car purchases don't really effect the fortunes of American car companies too much.

Once the I-own-GM-you-Toyota-drivers-suck post shows up, there will be 20 responses on how if GM wanted us to buy their cars they'd stop building crappy ones.

[hogwyld]

7. I'm one of them

I own a Chevrolet, made by union workers in Indiana, and my wife has a Dodge Caravan also made here. I don't think your Saab was made here, but I could be wrong. The point is, if we don't start buying American and taking care of our own, we'll have nobody to blame but ourselves for the total collapse of this once great nation.

[NickB79]

12. I was in the market for a new car this summer

I wanted a small 4-door hatchback that got really good fuel economy. Ya know what Chevy offers that fit my requirements? The Chevy Aveo. Know where it was built? South Korea. I opted to buy a Toyota that is at least assembled in the US.

Hmmm, my old Ford Taurus my girlfriend is driving isn't doing so well. Maybe I should buy a new Ford Fusion to replace it? Oh wait, they're being built in Mexico.

If Chevy or Ford would actually build cars that people want IN AMERICA, maybe more people would buy American. It's not our fault that they don't give us what we want and force us to buy elsewhere.

[Itchinjim]

9. Well I bought a brand new Ford Ranger 11 years ago,

and it's the best vehicle I've ever owned. Only it has a Mazda built engine and many other foreign built parts. Even if you buy American, you aren't buying American.

[daleo]

10. I don't even own a car

So I am directly responsible for all automobile industry troubles.

[bluestateguy]

6. I have a Chevrolet

I consider myself a patriotic American that supports union workers, much more patriotic than people who buy foreign cars.

[meganmonkey]

13. ...

:rofl:

[Lindacooks]

8. I'd like to know what cuts the executives are taking.

Are they taking salary cuts? Pension reductions? No bonuses?

I'd be very surprised if they are. All we hear about is how the 'company' has to tighten its belt, but it's the workers who get the shaft.

[Dont_Bogart_the_Pretzel]

11. but...but...but

I own (almost) a Ford. Just what is in it to make it American? The name? Most of it is imported. Engine is German, etc, etc.

I knew it when i sighed the dotted line at the dealer but I still love my Trac!