Counting down the days until the end of General Motors

[Azure]

I don't think the company itself will die.

At one time or another, they will crash and burn like they should, and build themselves up from the bottom.

They just need to get rid of the stupid unions, and start looking after the business properly.

[Slava]

Originally Posted by Ducay

The creditors pretty much own all their assets. If GM couldn't find a buyer for itself (after spinning off whatever subs it can), it would be sold off piece by piece to repay creditors etc.


And here I was thinking I was dumb to bail at $3/shares

Don't get me wrong, I'm not saying that people ought to run out and buy as many shares as they can afford. But to own some bonds or preferreds might not be too bad; you're going to own something of value at the end of the day whether GM comes back as is or otherwise.

[killer_carlson]

wonder if the CAW union will still say wages are off the table...

[Thor]

What drives me crazy is we should be investing in a car company like Tesla motors:

http://www.teslamotors.com/

If you gave them 1 billion, they would do more with that money than 100 billion to these old dinosaur car manufacturers who didn't see the obvious future coming, focusing on BIG trucks, gas gusslers and ignoring the electric car potential.

I'm finally happy to hope these idiots fold, time for innovative companies to take the lead, hopefully those companies pop up in North America to bring back a real car manufacturing base for US/Canada that's going to lead in to the future.

[psicodude]

Originally Posted by Thor

What drives me crazy is we should be investing in a car company like Tesla motors:

http://www.teslamotors.com/

If you gave them 1 billion, they would do more with that money than 100 billion to these old dinosaur car manufacturers who didn't see the obvious future coming, focusing on BIG trucks, gas gusslers and ignoring the electric car potential.

I'm finally happy to hope these idiots fold, time for innovative companies to take the lead, hopefully those companies pop up in North America to bring back a real car manufacturing base for US/Canada that's going to lead in to the future.

We should invest in a car company that only makes $100,000+ cars? How many of those are selling during the recession you think?

I understand what you are saying, but to be honest GM was making the type of cars consumers wanted. SUV's were selling like hotcakes. This demand died almost over night, so I don't think it's really fair to blame GM.

[Gundo]

[PIMking]

What are all the imbread red necks are going to do when they cant get the new silverado all jacked up and with a 350 and strait pipes on it?

[CrusaderPi]

Originally Posted by PIMking

What are all the imbread red necks are going to do when they cant get the new silverado all jacked up and with a 350 and strait pipes on it?

Capitalism. Someone will fill that niche.

[Ice]

Being an American, I've started feeling like my parents did in the 70's when "buy American" was a huge deal. Now that I'm an adult, if I were in the market for a new car, I'd probably lean toward buying American and you can bet it would be a Ford. Ford is the only American company that did not request or take bailout money. I was against the bailout from the beginning. I had no faith it would help, no faith in the companies asking for help to make the tough decisions required for their businesses to survive. Now we've seen the lavish parties for the same companies that needed to be saved and it makes me sick. I will try my hardest to NOT give any companies receiving bailout money any more of my hard earned dollars.

Luckily, I don't need to think about buying a new car as mine is only a year old. We do have a 2004 Ford that is still like brand new so I'm sure it will keep hauling hockey gear for years to come. I've always felt like GM products were crap anyway. If they disappeared tomorrow, I wouldn't miss their vehicles. The job loss would be sad for a lot of people. Union employees have a tough time finding new work, and there are a lot of them in the auto manufacturing sector.

[T@T]

Maybe a few more nukes should have been dropped in 45!

J/K of course.

[Phanuthier]

Originally Posted by T@T

Maybe a few more nukes should have been dropped in 45!

J/K of course.

Dangourous but funny.

[3 Justin 3]

Originally Posted by Thor

What drives me crazy is we should be investing in a car company like Tesla motors:

http://www.teslamotors.com/

If you gave them 1 billion, they would do more with that money than 100 billion to these old dinosaur car manufacturers who didn't see the obvious future coming, focusing on BIG trucks, gas gusslers and ignoring the electric car potential.

I'm finally happy to hope these idiots fold, time for innovative companies to take the lead, hopefully those companies pop up in North America to bring back a real car manufacturing base for US/Canada that's going to lead in to the future.

Tesla isn't the future, the future is Honda. It is called the Clarity.

[TimSJ]

Originally Posted by Ice

Ford is the only American company that did not request or take bailout money. .

Not entirely true. Ford did last month tap into a Gov't supplied line of credit that it set up as a back stop for ford.

http://www.bloomberg.com/apps/news?p...d=aouueVnukj74

[You Need a Thneed]

Originally Posted by 3 Justin 3

Tesla isn't the future, the future is Honda. It is called the Clarity.

I fail to see how they are different enough to know whether one is the future over the other.

In order to get either of the technologies out on the streets in large numbers requires a huge expansion of our power generating capabiltiies. They both also have no emissions. If I had to guess at this point, making the electricity and putting it straight into the car seems more efficient then using the electricity to create hydrogen, and then turning the hydrogen back into electricity for the car to use.

[Thor]

Originally Posted by psicodude

We should invest in a car company that only makes $100,000+ cars? How many of those are selling during the recession you think?

I understand what you are saying, but to be honest GM was making the type of cars consumers wanted. SUV's were selling like hotcakes. This demand died almost over night, so I don't think it's really fair to blame GM.

They are looking for investement to get rolling on their 30k car, and what they've done in a short time has been nothing short of showing that the electric car is not only viable but can be sexy and cool.

This is a very innovative company, look at their investors and you'll also see a number of silicon valley people involved.

All I'm saying is 1 billion or 100 million to a company like this does more than giving 100 billion to the big 3.

Why? Because this is a company built on innovation, its new, doesnt have a century of baggage from union obligations (health care, pensions, etc..) and has a real eye for true innovation and an understanding of what consumers want.

They did the right thing by starting out with a 100k car, because they have shown clearly to all consumers that not only can electric's be practical, they can be sexy and desirable.

Now they are moving towards a lower price model for regular people, including offering solar panel install for home owners.

Thats the big 3 challenges of electrics; #1 distance on charge, #2 costs, and #3 can it inspire people like the gas car's of the last 100yrs.

You can't put a dent into the gas car until you can make cool, well priced electrics that can travel long distances with a quick recharge time.

Tesla is doing that, and I hope other big car manufacturers are taking notes from this innovative little company.

[burn_this_city]

Originally Posted by PIMking

What are all the imbread red necks are going to do when they cant get the new silverado all jacked up and with a 350 and strait pipes on it?

350?? F that, a true redneck will have a diesel in it.

[Thor]

Originally Posted by 3 Justin 3

Tesla isn't the future, the future is Honda. It is called the Clarity.

Hydrogen cars are still far from being practical, #1 problem is the very limited number of stations to refuel.

Electrics need a outlet, you'll find there's a fair bit of access to electricity

With an Electric getting 300 miles on a 3hr charge, imagine how that will look 10 years from now.

Hydrogen cell cars have a long way to go because they require infrastructure and electrics do not.

[Slava]

^ Thor, I used to be extremely interested in the electric/hybrid. My latest concern though is how long until these batteries end up being just as horrible as the ones for your cell phone? If they start out great and all, but eventually they won't hold a charge to get you through a Tim Hortons Drive-Thru then I don't care how cool the car looks, or how cheap it is/was...I want one that works!

I also know that with the increased cost of these vehicles in general that the break-even is about 20 years down the road...so the economics of them really defy logic at this point.

[Caged Great]

Originally Posted by Slava

I also know that with the increased cost of these vehicles in general that the break-even is about 20 years down the road...so the economics of them really defy logic at this point.

As far as I know Lithium Ion batteries are the one of the most reliable and efficient batteries out there, so I don't know if they just don't hold a charge any more like the cell phone batteries.

As for the increase cost/break even point. You are also paying for the look and performance of the vechicle. Most decent non high end sports cars sell for upwards of 50+ thousand dollars, with some being even higher than the Tesla at 109K.

Honestly, for me the thing that is disappointing is that you can only purchase a tesla if you live in the states......

[ricoFlame]

Originally Posted by PIMking

What are all the imbread red necks are going to do when they cant get the new silverado all jacked up and with a 350 and strait pipes on it?

imbread? is that some kind of multigrain loaf?