Interesting Financial article - GM and Ford not doing so good

[Mitsu3000gt]

2005 Info, but I don't think much has changed in 1 year - I heard they were in some trouble, did a quick search and this is what I found for those who care:

http://www.wsws.org/articles/2005/may2005/gm-m09.shtml

Among other things such as declining sales, it says if GM continues at the same rate, they will go bankrupt. Wow. Also says how ford is shutting things down and making it worse for employees. Time for them to kick it up a notch!

Another
http://www.bloomberg.com/apps/news?pid=10000103&sid=aHutpgSZL09k

2005 info, but other things I found interesting:

"It is not that the economy is hurting GM's sales, because Americans are continuing to buy cars on a near-record pace. Consumers just don't feel compelled to buy what GM is offering."

"The industry is shifting. The old rules are gone, the new global thing is in. The offshore -- and read that as Asian -- companies are in hot pursuit of the domestic brands, and they are succeeding at it," said Gerald C. Meyers, an adjunct business professor at the University of Michigan and former head of American Motors"

I honestly didn't know they were in any sort of trouble.


http://www.washingtonpost.com/wp-dyn/articles/A2396-2005Apr19.html

Mark

[Xtrema]

You know this year is 2006, right?

Although I don't think anythhing has changed from a year ago.

[Mitsu3000gt]

Yes I understand it 2005, and yes I don't think one year it has changed much. I heard somewhere they were having trouble so I did some searches and all I found was 2005 stuff but I just posted it as a point of interest for anyone who would care to read is all.

Mark

[FivE.SeveN]

I can get "family" employee discounts from both ford and GM (uncle @ ford, granddad worked @ gm for 40 years). That's basically cost + 100 bucks.

Except there's absolutely nothing that grabs me from either company's lineup. I don't do SUVs, 'luxury sedans', or trucks.

Says something when I'm looking to import over a new GM. ;)

[bspot]

Yep, both are screwed. I heard that GM is something like 1% of the USA's GDP. Bad bad news if they go down, which is why the government won't let it happen. They are pulling their heads out of their asses, they are just taking their time doing it. They've got to get going and catch up to the rest.

[Mitsu3000gt]

Originally posted by FivE.SeveN

Except there's absolutely nothing that grabs me from either company's lineup. I don't do SUVs, 'luxury sedans', or trucks.



If the articles are true, you and most of the american population feel the same way.

Mark

[benyl]

welcome to 2006...