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Uploaded by CNN on Nov 19, 2010
GM went from bankruptcy to the largest IPO in U.S. history. CNN's Fareed Zakaria reports.
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50 videosSeason 1- 1:28
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One of the many reasons I drive a ford.
rcman123 2 months ago
When your car breaks down on the road just think to yourself,GM was worth saving I just need some help fixing my Chevy.Can I get a loan?No, I can't make it to work.So why did they get the help they needed?If you didn't pay your house payment and they had you move in the back seat of your Chevy are you happy GM got help?
fuzziruggi 2 months ago
@manhackmatt so do people making $8 an hour. What's your point ? You really think it takes a job skill to throw together a seat assembly ? You think that's worth over 70 dollars an hour (with benefits)? A RN gets paid less and they are responsible for human life.
And the UAW is a joke, you should see how phucked up some of the cars are that come to dealerships, screws missing, parts assembled wrong, the list is endless.
Honda builds cars here without unions and builds them better.
Bag0fRats 3 months ago
@Bag0fRats overpaid clowns? These are REAL Americans making the cars Americans are passionate about. I can't believe you'd equate the one of the last bastions of the American manufacturing industry to 'clowns'. These people actually do physical work for a living for a living wage.
manhackmatt 3 months ago
@manhackmatt
UAW and Ford worked together to save their asses.
GM was only slightly behind Toyota in sales at the time. They sold well, but their profit margin was too thin due to overpaid union workers. The average cost for UAW workers with benefits and retirement was $73 per hr. You really think someone putting on lugnuts is worth that much ?
Face it, the US taxpayers paid big money to save a bunch of overpaid, unskilled union clowns.
Bag0fRats 3 months ago
@Bag0fRats or it could be the fact that they their cars weren't selling. Ford hires UAW workers and didn't take a bailout.
manhackmatt 3 months ago
@TheKaos007 very true. GM was not in trouble from sales, but the unions were bleeding them dry.
Bag0fRats 4 months ago
Dismantle the ruinous fossil-fuel war-gangster-capitalism cartel-based dis-economy. ChevronToxico . com -- crudethemovie . com -- gaslandthemovie . com -- CarFree . com -- EcoCityBuilders . org -- PostCarbon . org -- FreePublicTransit . org -- BicycleCity . com -- blackwavethefilm . com -- priceofoil . org -- ClimateProgress . org -- energybulletin . net/node/22584 -- ClimateCodeRed . net -- collapsemovie . com -- EndOfSuburbia . com -- Time to get back to the land with organic agriculture.
gregjalbert 7 months ago
For a counterpoint, please search, "How Did GM Pay Back Its Bailout So Fast? It didn't". As far as "restructuring the company and making it profitable", I'll bet that they did it by cutting workers benefits and retirements. To restructure and rebuild takes time and hardwork, whereas to cut and destroy will get you instantaneous results.
dckim76 11 months ago
too bad the dollar don't mean shit no more
tehcexymeowmix 1 year ago