GM reports net loss of $2.5 billion
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GM reports net loss of $2.5 billion
http://www.autoblog.com/2008/11/07/g...asks-for-help/
General Motors burned through $6.9 billion of its cash reserves during Q3 '08, which reduces its bank account from $21 billion at the end of Q2 to $16.2 billion today. That's barely enough for such a big automaker to survive the coming winter.
General Motors burned through $6.9 billion of its cash reserves during Q3 '08, which reduces its bank account from $21 billion at the end of Q2 to $16.2 billion today. That's barely enough for such a big automaker to survive the coming winter.
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http://www.autoblog.com/2008/11/07/g...asks-for-help/
General Motors burned through $6.9 billion of its cash reserves during Q3 '08, which reduces its bank account from $21 billion at the end of Q2 to $16.2 billion today. That's barely enough for such a big automaker to survive the coming winter.
General Motors burned through $6.9 billion of its cash reserves during Q3 '08, which reduces its bank account from $21 billion at the end of Q2 to $16.2 billion today. That's barely enough for such a big automaker to survive the coming winter.
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they need to do that...recently, my mother was hit broadside in her 2006 wrangler, rendering it totalled...my father purchases all GM vehicles for his construction company, and took my mother to a local GM dealership that sells every line GM offers, except Saab....I couldn't believe how many different "Manufacturers" have the same exact vehicle with different badging, and minor grill differences.... wasteful.
But, I do like GMC trucks much better than Ford trucks, hence why I own a Sierra. But, it doesn't mean they are a better run automobile company.
But, I do like GMC trucks much better than Ford trucks, hence why I own a Sierra. But, it doesn't mean they are a better run automobile company.
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GM stock PLUMMETS 22.3% to its lowest low since 1946 $3.39. Perhaps we'll be able to wave to the general as he passes us on the way down. This is all really quite sad. Their cash position is apparently VERY leveraged. Someone bring in the corporate respirator please.
#9
Things are not looking too good right now for GM. Hollywood might be right--they may not have the cash to make it to the end of the year...
http://www.bloomberg.com/apps/news?p...vZ8&refer=home
The way the Bloomberg article reads, Chapter 11 may not be an option.
http://www.bloomberg.com/apps/news?p...vZ8&refer=home
The way the Bloomberg article reads, Chapter 11 may not be an option.
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Things are not looking too good right now for GM. Hollywood might be right--they may not have the cash to make it to the end of the year...
http://www.bloomberg.com/apps/news?p...vZ8&refer=home
The way the Bloomberg article reads, Chapter 11 may not be an option.
http://www.bloomberg.com/apps/news?p...vZ8&refer=home
The way the Bloomberg article reads, Chapter 11 may not be an option.
Strange to say it, but a failure of GM will make things tougher for Ford in the short term.
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And you raise an interesting point: what happens to Vauxhall, Opel and the like...?
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Vauxhall Aglia, Astra, Corsa, Insignia, Zafira, Vectra, Meriva and all vans are all Opels.
Only Vauxhall that's not Opel is VXR8 which is Holden.
Only Vauxhall that's not Opel is VXR8 which is Holden.
#19
I heard last night on the news that failure of any one of the big 3 auto makers would likely cause the loss of at least 2.5 million jobs in the U.S. alone. I didnt believe what I heard - had to rewind it (DVR) to listen to it again to make sure. It would affect not only those employed directly with the manufacturer directly, but all of the other business that supply products and services (not to mention the aftermarket). Would be a HUGE loss.
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I heard last night on the news that failure of any one of the big 3 auto makers would likely cause the loss of at least 2.5 million jobs in the U.S. alone. I didnt believe what I heard - had to rewind it (DVR) to listen to it again to make sure. It would affect not only those employed directly with the manufacturer directly, but all of the other business that supply products and services (not to mention the aftermarket). Would be a HUGE loss.
Not to mention that after watching last Sunday's Top Gear, those three American cars (two GMs and a Chrysler) looked terrific - and the boys had completely warmed to them by the end of the episode, calling all three "good cars."
The problem is, they should have started building good cars 15 years earlier, focused more on efficient passenger vehicles, and poured the same level of passion into those bread & butter cars that they are now pouring into cars like the Challenger, CTS and Corvette.
Day late and a dollar short.