Recently, GM was the largest company in the world, and the # 1 car seller in the US. Their profits were in the billions. Now, they are a shell of their former self, and as far as being profitable, those days are gone! They are scraping to get enough cash to pay their bills. Stockholders are seeing their equity go down the toilet, retirees are seeing their benefits evaporatee, and many , many GM workers are now without jobs. People hated GM in days past as they hate the oil companies today. Is everybody happy about GM's plight? Now do you see what happens to companies oif they fail to make a profit??
Anonymous2008-08-05T09:38:56Z
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I'm sure the libs are thrilled.
You know ....anytime an evil American corporation goes down they will celebrate. Of course....they never talk about the thousands of jobs that go down with it....along with the pensions,health care,etc.
Happy? No. I am never happy to see folks lose their livelihood or fall on hard times, but GM's demise is it's own doing. For decades both the European and Japanese auto manufacturers have been investing in new and more efficient technologies while GM, despite working on their reliability which has often been a problem with vehicles made in the U.S., has not.
Give you an example. I have a six cylinder 1998 Mercedes Benz SUV. Even back in '98 it was getting up to 27 mpg AND having the power and better performance of its GM counter parts. Today, my SUV is STILL getting better gas mileage and better performance than the GM offerings that are being touted so great. Every time I look to buy a new vehicle I always look for an American made product first. GM was and remains over a decade behind the curve. As a result, I'm not going to buy American and give tacit approval to a substandard product since doing so would weaken America. It's like giving a trophy to everyone that plays. You reward excellence, not merely participation. THAT is what creates strength.
Unfortunately, the workers are having to suffer from managment's short sighted vision and poor performance. It is up to management to make sure that a company's products can beat the competition and that the corporation remains competitive. GM's management has not done that.
only socialist and liberals are rejoicing because they do on realize the real implications and consequences this entails to us and all American.
anytime a 'big' business fails, it means many things, loss of jobs, pensions, taxes and other implications that they do not consider.
business can and will make ajustments to the 'free market' if given time to do so. they are driven by this. yet, i see so many that think the free market is bad. it is called capitolism, it is the backbone of our success as a nation. now some are even calling for nationalization of our oil industries, this will mean the demise of us as a nation. we will become just another thrid world soon if we continue in this direction.
if you break down every one of Obama's 'innovative' plans for us, the basis is 'redistrubution' of wealth. take from the rich and give to the poor. the problem with that is that soon the rich become poor too and then there is no money to redistubute.
wake up people. see what is happening here and ask yourself, is this really what you want for us.
ask a cuban, they know best how this happened to them and how they have fared under all the wonderful 'changes' that Castro offered them and would they do it again, if they had the chance for a re-do? i think you don't have to be a rockscientist to know the answer to that.
Why in the hell would I be happy about it? That's my husband's job that's on the line! They are in such a mess mainly becuase of the union and the pensions that cost them billions every year. Not to mention the energy crisis no one can afford to buy a new car regardless of what kind it is. GM is making as many advances on hybrid technology as they can and are getting ready to sell saturn and all the others they don't need outside of chevy and cadalliac.
If I didn't have more self control....I'll put it this way, you are a discusting human being to rejoice in the downfall of a company that helped build America over 75 years ago. And the fact that you rejoice in the loss of so many jobs makes me sick...
GM made very stupid business decisions based on short range profits. Contrast with Japanese companies producing HIGH QUALITY cars. I am sorry to see GM going down the toilet but their stupid business decisions have had their logical and inevitable effect. The oil companies need to be nationalized. Sieze their assets. It is a matter of national survival. Do that, the country can survive. Don't, and it will go the way of GM.