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GM and Chrysler in Fast Lane to Bankruptcy?


Business  (tags: automotive industry, GM, Chrysler, automakers, financial crisis, bankruptcy, finance, business, money, u.s., world, news, economy, economic crisis, americans, consumers, corporate, debt, government, humans, investors, law, usa )

SirRobert
- 237 days ago - msnbc.msn.com
"It'll be alright?" Experts say a managed reorganization may now be the only possible financial option available, but unlikely to succeed. Who Will Be In This Driver's Seat?
Comments

Louise L. (48)
Tuesday March 31, 2009, 4:52 pm
Eeyore is the PERFECT mascot for this discusssion! We're on the brink of losing all things "American". Thanks, Robert!
 

Lily K. (49)
Wednesday April 1, 2009, 5:36 pm
How did it ever come to this ? I suppose the answer according to the executives would be to scale down the workforce. Maybe these companies have been badly run by the executives and maybe they have been paying themselves too much. Particlarly the top executives. Capitalism gone wrong. Maybe their profits aageinst borrowings have not been as clear as what they hae allowed everyone to think. I have little knowledge of the Vehicle industry but i know in sales quite often a carrot is presented to the salesforce with deadlines so everyone works hard to achieve the sales target within the promotional dates. Any way i hope they survive it would be terrible to not have a Ford or Holden and even worse if they were made in China god forbid, if that happened i would not buy them anyway. I drive a Holden made in Adelaide, Australia now that is supporting your local manufacturing Industry is it not ? It was manufactured here locally. All spare parts are readily available and it is serviced by Holden Personal at the dealer where it was purchased from. If all American manufacturing companies go offshore to Asia then how has capitalism helped them. Already we see this happning in Australia more and more have gone to Asia leaving more and more unemployed here. Maybe major companies are too greedy or maybe globalism is bad for everyone. What do you think ?
 

Tierney G. (299)
Wednesday April 1, 2009, 5:56 pm
I am sorry to say they only have themselves to blame. Adapt or die.
 

Lily K. (49)
Thursday April 2, 2009, 8:40 pm
I suppose they have to make pretty large margins to accomodate the salaries earned by the directors and management.
 
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