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Well, they're getting another $30 billion from the government, in addition to what they already got before, so I'm guessing they'll be fine...
I'm not fond of the government bailouts, but I'm starting to think that in case of GM, there may not have been any other choice (letting the US auto industry fail would have been too catastrophic). We'll see, I guess.
I think GM had no choice because the unions funked them up. Also they should have been more innovative. Anyway, time for a new American auto manufacturer to step up.
I think GM had no choice because the unions funked them up. Also they should have been more innovative. Anyway, time for a new American auto manufacturer to step up.
I agree that it was the UAW more than anything that brought GM down...along with Chrysler. I'm not sure how Ford has managed to stay afloat despite the unions, but my hat is off to them for doing so. Unfortunately, now the UAW will have around 13% direct ownership of GM, so I can only imagine get worse.
I agree that it was the UAW more than anything that brought GM down...along with Chrysler. I'm not sure how Ford has managed to stay afloat despite the unions, but my hat is off to them for doing so.
Cash reserves is keeping Ford afloat. Lack of cash reserves sank Chrysler and GM.
That and Ford's CEO Alan Mullaly, who was brought in several years ago to fix a sinking Ford.
Remember the Firestone tire debacle? Remember how the Taurus was such a played-out name-plate that they tried replacing it with the 500? Remember the original launch of the Focus and it's numerous quality issues?
Ford was forced to confront it's problems earlier, before the credit markets dried up.
The UAW didn't cut Ford any deals that GM and Chrysler didn't also get. If you seek a reason for the GM and Chrysler bankruptcies, look elsewhere.
The UAW didn't cut Ford any deals that GM and Chrysler didn't also get. If you seek a reason for the GM and Chrysler bankruptcies, look elsewhere.
Dude...
It is ridiculous to say "look elsewhere" when someone points a finger at the UAW.
The UAW is absolutely a big problem on the long list of problems that GM and Chrysler have. Like you said... Ford has cash reserves, and Chrysler and GM do not. That's why the Union has already dragged GM and Chrysler under, but not Ford (yet). It's not like Ford is making a profit. The company is in big trouble, and the cash reserves are buying time. I really hope they can hold out until the economy turns, but it will be tough.
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