The gov't shut the money off with accounting changes. Nobody could get loans. "A" rated credit was declined on small consumer loans. Our business was also impacted by this. This was actually highlighted by the Obama administration about the time this video was made. Changes were made in lending, at the prompting of the administration, that eased up the money supply but it's a slow recovery. Prior to that GM was profitable despite having bailed out Delphi.
The reason GM is on the way out is because they build unreliable,high maintenance pieces of crap. 20 years ago ther was not alot of choice but to drive a North American car. Today we have a choice and after my first Toyota the choice became obvious.
Gm is and has been on top as far as economy on there small and midsized cars for about four years. The gas guzzlers sold better than any other models up until gas prices rose. The biggest problems the big three have been facing are past union agreement on pension and health care of retired workers. There past mistake in giving to much to the unions is the main cause.
Well you are right and you are wrong, they did adopt to change, hence the volt. But they didn't adopt quick enough. They have spent years and years on the volt for what reason - im pretty sure they ran into alot they couldn;t handle like how where people going to charge the car in a convenient way... etc.
Alot of company are trying to play hero, which they should be doing, look at tata nano they made the cheapest car in the world. The car isn't even out yet & there are tons of people interested
Tata Sold raffle tickest $80.00 each to hundreds of thousands of people and out of that only 100,000 will be able to buy the tata nano - and tata nano will need more then 1 year trying to supply the cars to those people.
But unfortunatley for us, the people in the us will not be able to drive it because of security reasons - but the company saw a huge oppurtunity and they took it. What do people want? - They want CHEAP.
Also the reason the gov. gave gm huge bailouts was because if they went
bankrupt, so many people would be out of jobs and the bankruptcy would have a intense ripple effect affecting other business and so on and so forth. So will gm go into bankruptcy? Only time will tell...
I wonder where they would be if they didn't scrap the EV1. That electric car had promise.
Oh, and this isn't the first time GM was saved (or there is an attempt to save them) via a bailout. See what happens when we prop up a dying company? They become an ever bigger dying company.
Comment removed
dukee155 1 year ago
The gov't shut the money off with accounting changes. Nobody could get loans. "A" rated credit was declined on small consumer loans. Our business was also impacted by this. This was actually highlighted by the Obama administration about the time this video was made. Changes were made in lending, at the prompting of the administration, that eased up the money supply but it's a slow recovery. Prior to that GM was profitable despite having bailed out Delphi.
BeingBob 2 years ago
The reason GM is on the way out is because they build unreliable,high maintenance pieces of crap. 20 years ago ther was not alot of choice but to drive a North American car. Today we have a choice and after my first Toyota the choice became obvious.
toyota4x4canadaguy 2 years ago
lol look whos talking. literally
grotzy91 1 year ago
Gm is and has been on top as far as economy on there small and midsized cars for about four years. The gas guzzlers sold better than any other models up until gas prices rose. The biggest problems the big three have been facing are past union agreement on pension and health care of retired workers. There past mistake in giving to much to the unions is the main cause.
robertfrey1967 2 years ago
cobalt roles !! i love the car
hotguy696987 2 years ago
Well you are right and you are wrong, they did adopt to change, hence the volt. But they didn't adopt quick enough. They have spent years and years on the volt for what reason - im pretty sure they ran into alot they couldn;t handle like how where people going to charge the car in a convenient way... etc.
Alot of company are trying to play hero, which they should be doing, look at tata nano they made the cheapest car in the world. The car isn't even out yet & there are tons of people interested
tehsina 2 years ago 2
Tata Sold raffle tickest $80.00 each to hundreds of thousands of people and out of that only 100,000 will be able to buy the tata nano - and tata nano will need more then 1 year trying to supply the cars to those people.
But unfortunatley for us, the people in the us will not be able to drive it because of security reasons - but the company saw a huge oppurtunity and they took it. What do people want? - They want CHEAP.
Also the reason the gov. gave gm huge bailouts was because if they went
tehsina 2 years ago
bankrupt, so many people would be out of jobs and the bankruptcy would have a intense ripple effect affecting other business and so on and so forth. So will gm go into bankruptcy? Only time will tell...
Will i think they will? Yes.
tehsina 2 years ago
I wonder where they would be if they didn't scrap the EV1. That electric car had promise.
Oh, and this isn't the first time GM was saved (or there is an attempt to save them) via a bailout. See what happens when we prop up a dying company? They become an ever bigger dying company.
eurohim 2 years ago 2
Plus they pay their employees too much and the retirement benefits are more than they could afford.
eurohim 2 years ago
Yours date says april 28 man O_O
MapleMovieMan 2 years ago