GM chairman to leave US car maker

[Newshound]

The chief executive and chairman of troubled US car maker General Motors will step down at once, at the request of Barack Obama.

More...

[BROOK]

The problem with the auto industry is not the makers...it is the fact that people are afraid to buy right now...
They are afraid to buy because their income is down, and are afraid they may not have jobs in the near future.
Or the ones that want to get cars, cannot because...and I stress this, as I deal directly with these banks...As a Financial director for both a Chevrolet and Ford store....they are not giving out loans.
so what does that tell you....all that money we gave to the banks to lend...is staying in their pockets No doubt to pay for the lavish vacations the executives are planning
Example:
I had a guy with an 800 score who was turned down yesterday.
Very few people are able to qualify for the low interest rates. And the ones that do qualify...are saving their money...for the coming economy collapse.
I had a showroom full of people trying to buy cars today...they just could not qualify

[Carmen]

You are obviously at the coal face of the industry Brook. It must be frustrating for buyers and sellers alike!

[BROOK]

It's very frustrating knowing the money that the banks were given was to ease the economy...and they just are sitting on it

[Humble Janitor]

Yeah. Ain't that a pisser?

I'm more concerned with staying afloat than buying a new car. If anything, the auto industry has coasted by for too long by creating vehicles that are inefficient, overpriced and require a lifetime of labor to pay for.

No offense, but good riddance to a bloated auto industry. i doubt even Obama can save it.

I'll keep driving my car until the wheels fall off (literally). The paint's falling off but at least it gets me where i'm going.

[BROOK]

Originally Posted by Humble Janitor

Yeah. Ain't that a pisser?

I'm more concerned with staying afloat than buying a new car. If anything, the auto industry has coasted by for too long by creating vehicles that are inefficient, overpriced and require a lifetime of labor to pay for.

No offense, but good riddance to a bloated auto industry. i doubt even Obama can save it.

I'll keep driving my car until the wheels fall off (literally). The paint's falling off but at least it gets me where i'm going.

Bloated Auto Industry...this is about a failing economy. There is more to this picture then you seem to be able to imagine.

What about the jobs lost...the "vendors" as we call the in the industry...the small business that supplies the services to the stores that have closed...causing their business to shut down, and go bankrupt.

The powers that be have certainly gotten to you...if you believe that it is just about the car manufacturer...you are among the many who have been blinded by the "big media" news. Keep believing what they say...and you will be likened to a sheep ...like the rest of the sleeping nation who just sat by and let this happen to this country.

Don't forget NAFTA... when complaining about the inflated prices for the American auto maker...or for that matter the Union's that protected the workers..for the inflation that hit us like a ton of bricks...
Keep telling yourself..it's all about what they tell you on the new...and you'll start looking like this

A very educated SHEEP

[BROOK]

BTW when that car your driving falls apart...and there are no more care manufacturers....what you gonna drive

[Northern Boy]

Its all about greed while they could have left all the auto jobs in The Good OLe USA they didn`t they looked or were shown that you could spend a few bucks creating plants in 3rd world countries and build and still sell those vehicles for the same price as they could if Americans built them , pocket all the extra cash not to mention the saving in health care costs because of the reduced benefits paid or provided those workers . And it was heaven we build cheap cars and bargain basement cost to us move them to the ever sleeping consumer and it will all be great. So we all fell for it ........ then they pulled the rug out and the years of excess stuck out like a sore thumb and the sad part is were all to blame for letting it happen . If we had been more vocal in the late 70`s early 80`s and stood up we could have stopped it but we didn`t I could play either card here about unions the truth is when the auto Industry first started they took advantage of their situation and preyed on the workers they forced them to unite and form unions from their all cars were built with an added cost to the consumer and the unions played the game driving benefit and workers pay up and with it the cost of vehicle`s , these executives lived high on the hog I know one and she, when hearing of the problems we are in right now started looking right away this was 8 yr`s ago the management were pulled into a meeting and told what was going to happen and that GM were going to go Bankrupt. Now they come hand out looking for cash when in fact they knew almost a decade ago they would be in this situation they face and have done nothing to prepare and it has been business as usual up to now, so lets get concessions from the worker`s and here is the truth on this the workers give in and they give up pay and benefits they (GM) get their bailout things go back to the way they used to be and the company still flounders those workers who gave in all lose their jobs and the good yrs are over all severance if there is any now is based on the lower wage instead of the higher and more often then not the plans were to close up no matter what happened and it is all about reducing the final closings cost to the company . The lady who worked for GM she found another job in Chicago and promptly resigned from GM and she was my brothers wife`s sister

[Humble Janitor]

Originally Posted by BROOK

Bloated Auto Industry...this is about a failing economy. There is more to this picture then you seem to be able to imagine.

What about the jobs lost...the "vendors" as we call the in the industry...the small business that supplies the services to the stores that have closed...causing their business to shut down, and go bankrupt.

The powers that be have certainly gotten to you...if you believe that it is just about the car manufacturer...you are among the many who have been blinded by the "big media" news. Keep believing what they say...and you will be likened to a sheep ...like the rest of the sleeping nation who just sat by and let this happen to this country.

Don't forget NAFTA... when complaining about the inflated prices for the American auto maker...or for that matter the Union's that protected the workers..for the inflation that hit us like a ton of bricks...
Keep telling yourself..it's all about what they tell you on the new...and you'll start looking like this

A very educated SHEEP

I don't like your analogy one bit.

i am basing this on personal opinion, not what big media is saying. I have seen for years how the auto industry has relied solely upon the sales of SUVs and trucks while the Japanese automakers were able to get ahead. I don't feel sorry for industries that fail to keep up with the changing times.

The people who run the auto companies themselves are just as responsible for the loss of jobs than anyone else. This hurts the employees and the suppliers. I am not arguing with that point.

Again, I said that I meant no offense and you chose to take offense.

As for that educated sheep comment, you might want to think twice before you make such a comment in the near future.

[Humble Janitor]

Originally Posted by BROOK

BTW when that car your driving falls apart...and there are no more care manufacturers....what you gonna drive

Again, you might want to re-direct this negative energy into something positive.

I will gladly ride a bicycle or walk if I must.

[Steve_A]

Hi Everybody,

I was really suprised to hear how the Chief Executive was leaving GM, requested to by the President of the US. This is a very dangerour precedence.

Basically the US government is saying to a private company who can and who can't work there.

One could argue that because of financial aid the government could have its' say as to what needs to have been done strategic wise to save the company, however nothing was said.

So what are we to make? Does the government just like to throw money up the wall? If this is the strategy with the auto makers, is this the same as for the banks - remember AIG got $170b with no strings attatched?

This intervention of Obama unfortunately is beginning to show the cracks in his confidence. He is starting to try and resolve things personally and this can only mean concern and worry on his part.

Best regards,

Steve

Originally Posted by Newshound

The chief executive and chairman of troubled US car maker General Motors will step down at once, at the request of Barack Obama.

More...

[BROOK]

Originally Posted by Northern Boy

Its all about greed while they could have left all the auto jobs in The Good OLe USA they didn`t they looked or were shown that you could spend a few bucks creating plants in 3rd world countries and build and still sell those vehicles for the same price as they could if Americans built them , pocket all the extra cash not to mention the saving in health care costs because of the reduced benefits paid or provided those workers . And it was heaven we build cheap cars and bargain basement cost to us move them to the ever sleeping consumer and it will all be great. So we all fell for it ........ then they pulled the rug out and the years of excess stuck out like a sore thumb and the sad part is were all to blame for letting it happen . If we had been more vocal in the late 70`s early 80`s and stood up we could have stopped it but we didn`t I could play either card here about unions the truth is when the auto Industry first started they took advantage of their situation and preyed on the workers they forced them to unite and form unions from their all cars were built with an added cost to the consumer and the unions played the game driving benefit and workers pay up and with it the cost of vehicle`s , these executives lived high on the hog I know one and she, when hearing of the problems we are in right now started looking right away this was 8 yr`s ago the management were pulled into a meeting and told what was going to happen and that GM were going to go Bankrupt. Now they come hand out looking for cash when in fact they knew almost a decade ago they would be in this situation they face and have done nothing to prepare and it has been business as usual up to now, so lets get concessions from the worker`s and here is the truth on this the workers give in and they give up pay and benefits they (GM) get their bailout things go back to the way they used to be and the company still flounders those workers who gave in all lose their jobs and the good yrs are over all severance if there is any now is based on the lower wage instead of the higher and more often then not the plans were to close up no matter what happened and it is all about reducing the final closings cost to the company . The lady who worked for GM she found another job in Chicago and promptly resigned from GM and she was my brothers wife`s sister

Of course they knew it was coming...that is why Ford is not hurting as much. They started downsizing roughly 7 to 8 years ago. but it still goes back to the economy as a whole.
GM is in trouble because they did nothing about it...just kept up business as usual. It's probably a good thing the chairman is stepping down...they did nothing, and are falling all over themselves to fix it...problem is they cannot fix this one. Because the banks now have total control, and want to take over.
And lastly...your right...Greed kept them motivated to run it into the ground

[BROOK]

Originally Posted by Steve_A

Hi Everybody,

I was really suprised to hear how the Chief Executive was leaving GM, requested to by the President of the US. This is a very dangerour precedence.

Basically the US government is saying to a private company who can and who can't work there.

One could argue that because of financial aid the government could have its' say as to what needs to have been done strategic wise to save the company, however nothing was said.

So what are we to make? Does the government just like to throw money up the wall? If this is the strategy with the auto makers, is this the same as for the banks - remember AIG got $170b with no strings attatched?

This intervention of Obama unfortunately is beginning to show the cracks in his confidence. He is starting to try and resolve things personally and this can only mean concern and worry on his part.

Best regards,

Steve

Indeed Steve...the message this action is sending is far stronger then a simple bankrupt company

[oldpaganfreak]

i'll betcha that the gm ceo will get a lovely 'golden handshake' on his way out the door.

[Dantheman62]

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[BROOK]

My apologies to Humble Janitor...I did not mean to be so harsh
I'm just very frustrated with this situation.
I know that greed is a big part of GM's problems...but the economic situation is hurting so many people..and I personally know so many who have lost their jobs.....people I've worked with for 20 years. That have just had the rug pulled from under them.
One guy lost all of his retirement 401k..then got walking papers because they deleted his position. He only had another two years to go before retirement.
Heck...I'm not sure my position is safe anymore
Again my apologies to HJ...I did not mean to get personal
Blessings to you HJ
Brook

[Humble Janitor]

It's all good. I understand the scope of this issue and it's unfortunate that so many people are losing their jobs like this.

[peaceandlove]

Dr. Paul on Fox Business Today

Posted by Jesse Benton on 03/31/09 12:20 PM

On Tuesday, Dr. Paul appeared on the Fox Business Channel to discuss auto bailouts and the recent government ousting of GM's CEO.

Video (3:27): http://www.campaignforliberty.com/bl...cpg=1#comments