GM
Don’t build a fire on thin ice.
Bond investors should be getting nervous. They were assured first place in loss prevention if the company failed, but they were thrown under the assembly line when it cam to GM and Chrysler.
Investors are on new grounds today. Our Federal Legislature and Supreme Court are changing the rules. What was thought to be a solid [...]
We Now Own A Car Company -GM
Don’t’ be surprised next year if you receive a new car rather then a large tax return. For those of us who are receiving a modest return, we may only receive a car seat or so…
...read moreCEO of GM said to be Calling it quits…Too Soon?
Times are tough and getting tougher, but is it time for the leadership to go? The Associated Press reported today that the CEO of GM is going to resign. Is that the right decision? Do we need sacrificial lambs?
For all practical purposes, I don’t feel the CEO is at fault for GM’s plight. The company [...]
Breakfast with Congressman Blumenauer
I especially wanted to discuss GM. This is a company, who has been loosing market share for decades. They have been posting quarterly losses in the hundreds of millions of dollars for years, and they are now asking the American taxpayer to prevent the inevitable failure of their company. They are saying that if they do not receive four Billion dollars within 27 days, the company will be out of business. GM chief Rick Wagoner has stated that “Bankruptcy in not an option”. My question is why not? Chapter 11 bankruptcy laws will allow the company to renegotiate their debt and labor contracts. Wagoner has previously stated that people will not purchase a car from a company who is in bankruptcy. Most Americans are afraid to purchase cars from these automakers now! No one is sure who will honor warrantees if the company closes the doors in 27 days.
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