GM faces rapid collapse without aid

[lotec]

fuck gm. let them pay the price for their mistakes just like everybody else.

yes it's unfortunate that this will have a large effect on their workers/the rest of the world, but we'll all get over it soon enough. the opening left in the market will hopefully let brands like tesla have a bigger share..etc companies that are looking forwards, instead of neglecting innovation.

pushrods ffs. :D

[Dave]

fuck gm. let them pay the price for their mistakes just like everybody else.

yes it's unfortunate that this will have a large effect on their workers/the rest of the world, but we'll all get over it soon enough. the opening left in the market will hopefully let brands like tesla have a bigger share..etc companies that are looking forwards, instead of neglecting innovation.

pushrods ffs. :D

you are stupid.

:p

[[ryan]]

well
all i know is im sick of hearing the term "government bail-out"

[RESON8]

Bring on cheap Korean V8s coupes...
Hyundai Genesis anyone?

Korea will be struggling, last time I looked their average hourly rate in the auto industry wasn't too far behind what we get paid here, they are very heavily unionised

[TK]

Dunno if it could happen, but say the US big 3 were to fall & somehow Holden & Ford Aus managed to untie themselves from their parent companies to run indepandantly - they'd both be in a prime position to supply large sedans to a market that is suddenly heavily undersupplied.
That'd be pretty fucking good for the Aus car industry.

If that were possible then I'd say fuck the yanks, let em die.

But methinks Ford Aus would almost definately go down, Holden may have a higher chance of surviving independantly - but I'd reckon it'd still be slim.

[Dave]

Holden was profitable in its own right, but I doubt that would hold true in the current economic climate

[Inept]

Hopefully the US will learn from the UK governments attempted bail out of Rover.

Rover collapse cost UK nearly £1 billion

The collapse of MG Rover was an expensive affair for the British government and its people. A report published by the country's Public Accounts Committee says that the decline of MG Rover between 2000 and 2004 cost tax payers around £270 million. A £500 million pension deficit will also likely be met by the country's Pension Protection Fund, and the defunct company still owes £109 million to creditors, which they likely won't be getting.

The real kick in the head is a small loan of £6.5 million that was given to MG Rover by the UK's Department for Trade and Industry in a move to stave off bankruptcy. The automaker shut down a week later and that loan will now have to be written off.

Not all is lost, however, as 4,000 out of 6,000 employees of the company have found new jobs, and the new Nanjing-backed MG will be operating a plant in Longbridge, England, as well.

http://www.autoblog.com/2006/07/25/r...rly-1-billion/

[browny]

Maybe someone can answer this, do Holden/Ford Aus engineer around using their parent companies component suppliers?

For example, are all the wiring components in a Commodore from a company that would no longer exist(or remain in a much reduced capacity) if GMH went down.

There is a curious part of me that hopes GMH goes down just to see what happens.

[Captain_Slow]

Dunno if it could happen, but say the US big 3 were to fall & somehow Holden & Ford Aus managed to untie themselves from their parent companies to run indepandantly - they'd both be in a prime position to supply large sedans to a market that is suddenly heavily undersupplied.
That'd be pretty fucking good for the Aus car industry.

Hmm, interesting thought. Both companies at least make their six cylinder engines here, so it might be possible to continue if they're able to secure the intellectual property rights to them from their bankrupt parents (presumably they'd do that as part of whatever deal got them extracted from the parent companies in the first place). V8 models would be much harder. Transmissions would be a mixed bag - Holden's autos are GM units as I understand it but the manuals are Aisin (v6) or Tremec (V8) so that's viable. Who makes Ford's transmissions? ZF for the 6 speed auto, Tremec for the manuals?

It could get a lot trickier with various minor components. Some stuff could be easily substituted (for example, a rear vision mirror is basically a rear vision mirror whoever your supplier is) but if they are reliant on the parent companies for some other bits and pieces it could get very difficult very quickly.

[Captain_Slow]

yes it's unfortunate that this will have a large effect on their workers/the rest of the world, but we'll all get over it soon enough. the opening left in the market will hopefully let brands like tesla have a bigger share..etc companies that are looking forwards, instead of neglecting innovation.

Except that, unlike the Tesla, the Chevy Volt actually stands some chance of making production and is real-world relevant...

[kabab]

I heard on some interview the completel value of gm stocks was only 3 billion if that is true teh aussie goverment should just buy up the stocks dissolve all of gm apart from Holden seeing as they are actually profitable...

[MZ21]

Am I reading this right?

http://www.marketwatch.com/quotes/gm

Market Cap:$2.49B

PF Group buy??

[BENN0]

I heard on some interview the completel value of gm stocks was only 3 billion if that is true teh aussie goverment should just buy up the stocks dissolve all of gm apart from Holden seeing as they are actually profitable...

The German gov is desperately trying to get Opel out of GM. They are profitable at the moment also.

[Kaiser]

Which GM divisions are actually profitable at the moment?

[ironhorse]

Which GM divisions are actually profitable at the moment?

everywhere that is not controlled by the UAW .