[Revo1]

Originally Posted by CamaroSkooter

Has anyone seen how people are taking advantage of GM's new 60-day guarantee policy?

They go out and buy a Chevy Volt, which gets them a $7,500 tax credit, then they return the vehicle a week or two later.

As far as the government sees it, they still purchased the car, so the tax credit doesn't get taken back...

Dirty. "Working the system" really translates to "Stealing from your neighbor".

[ShowSStopper]

Originally Posted by meissen

I just did a quick google search since I honestly don't pay *too* much attention to the quarter by quarter results:

http://www.google.com/hostednews/ap/...81f37074b2051f

Although that article also states that in addition to GM's net profit slumping 41%, Ford's slumped 57...

I will definitely say that I have faith in Akerson - he seems like he really knows what he's talking about.

I don't deny that Ford profits slumped as well. I was just bringing up GM due to the context on this thread.

It's nothing personal...hell, I like to see someone who is passionate about something they believe in once in a while...breaks the monotony of your everyday sheep, per se.

[Kmorpheus]

Blaming the unions for a company's problems is like blaming flies for garbage.

Company decisions are not made by the union.

Saturn was a joint venture between GM and the United Auto Workers Union. When decisions were a cooperative effort, Saturn flourished. When GM decided to cut the UAW out of the decision making process,Saturn tanked due to bad decisions made by GM.

If a company fails, blame must start at the top where decisions are made.

Then start looking at customer service, which judging by the amount of posts I've read and personal experience, GM is seriously lacking in.

Then product and/or service quality; did the customer get the most bang for their buck? If they did not, they seek greener pastures elsewhere.

[BowtieBelle]

[nyrfan]

Originally Posted by BowtieBelle

GM just had a record breaking quarter. This article is BS, IMO.

No where near record breaking, read their financials.


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[BowtieBelle]

Originally Posted by nyrfan

No where near record breaking, read their financials.


Sent from my 2LT/RS using Tapatalk

I posted an article about it a few weeks ago. I'm on my phone so I can't link to it.

But I'm soooo not getting involved in this argument. Carry on guys.

[nyrfan]

Originally Posted by BowtieBelle

I posted an article about it a few weeks ago. I'm on my phone so I can't link to it.

But I'm soooo not getting involved in this argument. Carry on guys.

Again read the financials, they don't lie. Avg. quarter at best.


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[Kiss My SS]

Originally Posted by crateish

The Republican Party's wildest wet dream would be for GM to go under. Especially if it's before November.

They're letting nothing get done in Congress on purpose.

We can agree to disagree, I think had GM went bankrupt with a republican in office then there would have been no bailout but a total restructure and the final collapse of the Unions which would have benefited GM, Ford and Chrysler.

[Kiss My SS]

Originally Posted by Kmorpheus

Beg to differ... John Deere keeps breaking their profit records and they're a union company.

But there Union probably does NOT own them lock stock and barrel.

[Kiss My SS]

Originally Posted by meissen

I just did a quick google search since I honestly don't pay *too* much attention to the quarter by quarter results:

http://www.google.com/hostednews/ap/...81f37074b2051f

Although that article also states that in addition to GM's net profit slumping 41%, Ford's slumped 57...

I will definitely say that I have faith in Akerson - he seems like he really knows what he's talking about.

Your correct about Ford, I read somewhere not long ago that they are really hurting as well...

I would just absolutely HATE to see GM go down (again) along with Ford, I mean damn what are we gonna end up driving? Toyota's?, not me.

And I personally think there should be a $1000 tariff placed on EVERY vehicle foreign brand sold in the USA regardles if they are built here or not and that would level the playing field somewhat.

[BowtieBelle]

http://media.gm.com/media/us/en/gm/n...evy_sales.html

[nyrfan]

Originally Posted by BowtieBelle

http://media.gm.com/media/us/en/gm/n...evy_sales.html

Ok, your referring to cars sold, not finances. Just because they've sold the most cars in a quarter did not bring them record revenue or profit. In fact their revenue in Q2 was the worst it's been since last Q2 and profits were down 41%.

So just looks like we are talking about different things.

Q2 2012

Q2 2011

Revenue

$37.6

$39.4

Net income attributable to common stockholders

$1.5

$2.5

Earnings per share (EPS) fully diluted

$0.90

$1.54

Impact of special items on EPS fully diluted

-

-

EBIT-adjusted

$2.1

$3.0

Automotive net cash flow from operating activities

$3.8

$5.0

Automotive free cash flow

$1.7

$3.8

[Heaven_is_inferno_orange]

Originally Posted by meissen

It's public knowledge so here's some facts to consider:

GM regained #1 manufacturer status recently (and already lost it), but even while it was #1, it was further down in the standings for profitability. What good is it being #1 in manufacturing if your profit margins are so small? Auto manufacturers that are a fraction of the size of GM had higher net profits than GM... that shows that we're doing something wrong.

Because of that, GM's new strategy is to not offload vehicles to the rental and fleet sales. Offloading vehicles like that devalues them, floods the market.

So yes - GM has lost market share... because it's not flooding the market by offloading their vehicles to rental and fleet sales at cut throat pricing. That's what got the "old" GM into the mess that caused the bankruptcy last time. The "who cares if we off load these cars to XYZ Rental at a $5 loss per unit as long as we're the #1 manufacturer" mentality doesn't fly anymore. In the meantime, all that people see is "less marketshare" or "no longer the #1 manufacturer" but they don't realize that it's because GM is actually following a positive strategy for once.

And yes - stocks are sliding, there's no denying that. I honestly have no clue why. It boggles my mind. GM posts record profits and the stocks decline. GM posts sales higher than expectations, the stock declines. Frankly, the anti-GM sentiment that the rest of the country has because of the bankruptcy and US Government *loan* just seems to put the odds against us. And that's where it's frustrating - the rest of the country wants General Motors to fail. Look at the responses in this thread already. If GM fails, then it really is the US taxpayers that are out all that money. But if GM prospers, if GM's stock actually were to go up enough, the US government could cash out of that stock ownership at a profit. It's VERY slim odds of that happening, but it's the stock market and anything's possible, right?

And that's where I sit here dumbfounded when I see these threads and replies. It's our tax payer money. We should be doing everything we can to cheer GM on. To do better. To make better cars than the rest. To sell at higher profits. To be the #1 auto company. We're all invested in GM whether some like it or not, if we got the stock prices high enough the US Government could cash out and it'd no longer be "Government" Motors.

No offense to anyone, not meaning to stir up anything but not only does the "government Motors" GM negativety bs really P$$$ me off I also get annoyed whenever I see comments like "this is why im going to buy a Ford" mixed in with the "Government Motors" comments. Why is it the fact that Ford took loans a couple years before GM and that Chrysler took it at the same time is always over looked? Just my opinion but I feel like all these articles do is pick on GM for some polical agenda. Fact is all three big domestic automakers were in trouble at some point in time and needed help and that us americans should be supporting our american automakers. Im all for people buying whatever makes them happy to drive but if you bought a foreign car dont complain about the domestic businesses struggling. *end rant*

[SC2150]

Originally Posted by meissen

Being that I'm a GM employee myself, I feel very passionately for the company I work for. This is the second thread you've posted where it's negative "news" about GM that's unfounded hype news meant to stir the pot. All it takes is a little thought to realize the Blaze's article is bunk.

For example - Would a company spiraling into bankruptcy be posting net profits quarter after quarter? Of course not.

Time will tell, that will be the best way to see if there is any merit to it....debating here will not make it one way or the other. I hope they are dead wrong, but they sure seem to be accurate in other predictions. Let's see what happens over the next few years. Chevy is in our blood!!