Are We Sick of Winning Yet? GM to slash 14,700 jobs in North America

Mar 2013
8,323
8,980
Middle Tennessee
Agreed, and that's how Obama sunk Campaign Clinton when he started crowing about his great economic achievements...i.e.: "America's doing pretty great!" without checking any numbers to see how much those "great" economic numbers were filtering down through the middle and lower rungs of the economic ladder.

p.s. will you still be posting the DJI average next year, after the Fed can no longer keep inflating the markets with free money and the bubble finally bursts?

After LOSING almost 50% under Bush, luckily I had cash out before the bottom hit, I reinvested in spring of 2009 and that portfolio is now worth almost 5 times my investment. I've added no other money to it. Simply bought an index fund and left it alone. So I did OK under Obama at least as far as my stocks are concerned.

Sadly like every one else I haven't had a real pay raise since 2001 or 2002. Small incremental raises that basically kept up with inflation but not really getting ahead. Three corporate reorgs and three contract houses later I've had two pay cuts to keep my job. Not big ones, but noticeable. Even now middle class America is not getting ahead. With the job market as tight as it is wages SHOULD be rising rather rapidly. They just aren't.

You do realize QE ended in 2014 ?? We were told back then the markets would come crashing down, but they haven't. I'm keeping my eye on it, watching for the down turn because I'm afraid the Dumbster has created so much turmoil in the markets a market crash is almost inevitable. But it won't be because of something that ended 4 years ago.
 
May 2018
3,228
1,849
Chicago
There's a solution to GM's woes- make better cars that people want to buy. After my Oldsmobile tried to kill me on more than one occasion, I'm not sure they could convince me- ever. But they might convince others. And why so little innovation? Why did it take another American car company, Tesla (and they have their own issues) along with foreign car companies, to kick them in the ass? US car companies should be leading the world with innovation, but they haven't since when? Henry Ford? Why in the hell was Toyota making the first major-selling hybrid and we weren't?

Why do US car companies always seem to be playing catch-up to everyone else? And when they do catch up, they do it worse than the other companies. Why? That is the question that really needs to be answered. Chevy couldn't even convince enough people to buy the Volt to keep it alive, while Tesla has the opposite problem and can't seem to fill their orders. We constantly bail out companies like GM and Chrysler, and I get why. But how long can we continue to do that until we insist they make substantial changes in the way they do business?

In short, when do we start holding them responsible?
 
Mar 2013
8,323
8,980
Middle Tennessee
There's a solution to GM's woes- make better cars that people want to buy. After my Oldsmobile tried to kill me on more than one occasion, I'm not sure they could convince me- ever. But they might convince others. And why so little innovation? Why did it take another American car company, Tesla (and they have their own issues) along with foreign car companies, to kick them in the ass? US car companies should be leading the world with innovation, but they haven't since when? Henry Ford? Why in the hell was Toyota making the first major-selling hybrid and we weren't?

Why do US car companies always seem to be playing catch-up to everyone else? And when they do catch up, they do it worse than the other companies. Why? That is the question that really needs to be answered. Chevy couldn't even convince enough people to buy the Volt to keep it alive, while Tesla has the opposite problem and can't seem to fill their orders. We constantly bail out companies like GM and Chrysler, and I get why. But how long can we continue to do that until we insist they make substantial changes in the way they do business?

In short, when do we start holding them responsible?

You obviously have no idea the amounts of technology in today's car or who has it. I work in automotive. GM has and continues to innovate. Some times it works, some times it doesn't. But they have continued to try. Toyota LOSING MONEY on every Prius they sold for more than a decade and how they made inroads into the hybrid market. NOBODY outside a few socks and Birkenstocks ultra greenys wanted those ugly ass little cars. The ONLY time Toyota made money on them was when gas hit $4.50 a gallon. Today they're a fashion statement, sort of the anti-suv. Most of the technology in everyday Toyotas is 5 to 10 year old GM tech. (the two companies have a long history of cooperation going back to just after WW2).

Tesla ?? There is NO REASON a company that is just now reaching 100,000 units per year is more valuable than GM which produces and sells 10,000,000 cars a years. They're all market hype smoke and mirrors. That's right world wide GM is THE largest car maker. That's even after selling off Opel in Europe. So much for cars nobody wants. The simple truth is, 3 years ago the Cruze plant was running three shifts. Two years ago it drop down to 2 shifts. Last year it went to one shift. Now they're dropping that car all together. Its simple economic and they're doing exactly what they need to do. The Cruze is a solid good running decent handling and very reliable little car. Its just that for the same money people would rather buy the Traxx SUV.

The FACT is Tesla sold butt loads of their new model three, but if you bought one of the base models, at $35,000 or so YOU'RE STILL WAITING for your car. Tesla decided that no matter WHEN you placed your order, they were going to build the $40,000 to $50,000 versions FIRST so they could "appear" profitable. The rest of the story is GM has the new Chevy Bolt that does everything the model 3 is supposed to do and IT'S AVAILABLE NOW FOR about $35,000. I spent a day recently learning about the technology in the Bolt. It's an amazing piece of engineering. They actually drive well too !! (not just me saying that, several of the car enthusiast mags have said it as well)

Toyota and Honda both announced this week they their sales were down for the year, LEAD by declining car sales. Their SUV and trucks are off slightly but their sedans and small cars sales are falling just like every one else's. I predict in a few years the only sedans will be very small starter cars, and high end luxury or performance models. But even the traditional lux brands are shifting to SUVs. Hell even Ferrari is developing one !!! A Ferrari truck ??? I cringe at the thought. !!! The end is nigh !!!

The market is changing and GM is simply doing what every one else is doing or will be doing in the immediate future. While the white collar workers likely won;t be replaced, many of the assembly line people will transition to other plants. There's no reason to believe they GM won't reopen some of the plants with future models. They currently have 18 new models, all electric in development. Since it's bankruptcy GM has returned more then $70 BILLIONS DOLLAR in profit. That is NOT what you;d call a badly run company. At the same time their quality has skyrocketed. To the point that their dealers are complaining there isn't enough work (warranty) to keep their service departments open. They're all chasing customer pay work now.
 
Likes: Sabcat
May 2018
3,228
1,849
Chicago
You obviously have no idea the amounts of technology in today's car or who has it. I work in automotive. GM has and continues to innovate. Some times it works, some times it doesn't. But they have continued to try. Toyota LOSING MONEY on every Prius they sold for more than a decade and how they made inroads into the hybrid market. NOBODY outside a few socks and Birkenstocks ultra greenys wanted those ugly ass little cars. The ONLY time Toyota made money on them was when gas hit $4.50 a gallon. Today they're a fashion statement, sort of the anti-suv. Most of the technology in everyday Toyotas is 5 to 10 year old GM tech. (the two companies have a long history of cooperation going back to just after WW2).

Tesla ?? There is NO REASON a company that is just now reaching 100,000 units per year is more valuable than GM which produces and sells 10,000,000 cars a years. They're all market hype smoke and mirrors. That's right world wide GM is THE largest car maker. That's even after selling off Opel in Europe. So much for cars nobody wants. The simple truth is, 3 years ago the Cruze plant was running three shifts. Two years ago it drop down to 2 shifts. Last year it went to one shift. Now they're dropping that car all together. Its simple economic and they're doing exactly what they need to do. The Cruze is a solid good running decent handling and very reliable little car. Its just that for the same money people would rather buy the Traxx SUV.

The FACT is Tesla sold butt loads of their new model three, but if you bought one of the base models, at $35,000 or so YOU'RE STILL WAITING for your car. Tesla decided that no matter WHEN you placed your order, they were going to build the $40,000 to $50,000 versions FIRST so they could "appear" profitable. The rest of the story is GM has the new Chevy Bolt that does everything the model 3 is supposed to do and IT'S AVAILABLE NOW FOR about $35,000. I spent a day recently learning about the technology in the Bolt. It's an amazing piece of engineering. They actually drive well too !! (not just me saying that, several of the car enthusiast mags have said it as well)

Toyota and Honda both announced this week they their sales were down for the year, LEAD by declining car sales. Their SUV and trucks are off slightly but their sedans and small cars sales are falling just like every one else's. I predict in a few years the only sedans will be very small starter cars, and high end luxury or performance models. But even the traditional lux brands are shifting to SUVs. Hell even Ferrari is developing one !!! A Ferrari truck ??? I cringe at the thought. !!! The end is nigh !!!

The market is changing and GM is simply doing what every one else is doing or will be doing in the immediate future. While the white collar workers likely won;t be replaced, many of the assembly line people will transition to other plants. There's no reason to believe they GM won't reopen some of the plants with future models. They currently have 18 new models, all electric in development. Since it's bankruptcy GM has returned more then $70 BILLIONS DOLLAR in profit. That is NOT what you;d call a badly run company. At the same time their quality has skyrocketed. To the point that their dealers are complaining there isn't enough work (warranty) to keep their service departments open. They're all chasing customer pay work now.
I stopped when you claimed GM is the world's largest carmaker They aren't:

Automotive industry - Wikipedia
 

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