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gm didnt start this problem. how many politicle poeple ride in jumbo jets to go and check out what is going on in the mid east ? veterans that have been wounded in ww2 , getting bennies from uncle sam , driving jap cars, saying that these are better, more car for the dollar, fact of the matter thy only they dont think the only car that they used to get or buy was shot when they aquired it, ask them if the air planes ,tanks, trucks, rifles, ammo, all said toyota, honda tosheba, etc, how short there memories are,without the big three about 75 other bigs will fall also, remember what saved the countries all over the world . it was called the lend lease act. lets put all aside. bail, loan with small juice curb credit card spending . do like pop and grand pa, no cash no splash, counting on credit card spending with nothing. when can a person with no money help?

Waggoner should step down, resign. He's as much of a liar as any. A movement should begin to remove him. Surely there is someone else out there that can lead GM out of this disaster.

Buy American People!!! If your not, then your part of the problem and not the solution. A big 3 bankruptcy will tarnish the image of the USA in a big way.. we need to save face around the world..We have to start buying American again and making things here for less being paid to the workers. Put taxes on foreign items... forget the free trade agreements. Our country is at stake. Free trade has maybe prevented a few wars but it is intensifying the greed factor and causing a great decline of the great USA.

What hit every automaker was the darn $4 per Gallon, everyone knows how the truck market came tumbling down - while trucks gave a good margin to the automakers started collecting dust on dealers parking lots - how can the Big 3 afford to make trucks cars and sell on the US market with our free market approach. Big 3 are getting hit hard from inside and outside - the reality is Big 3 were not responsible to what has happened to them - a lot of external factors have caused the Big 3 to end up in a situation like this. Hope everyone understands that the around atleast half million or more country wide employees of the Big 3 are affected - they are American citizens and they need to be taken care of.

I am wondering if consumers will be unlikely to purchase GM vehicles with talk of bankruptcy? The main problem is who will warranty my car if the manufacturer does not exist in 6 months.

The tradeoff would be a lower priced car than the competition and this would effect margins so they might as well close their doors now, or receive help from the government in the form of a bailout.


http://www.youtube.com/watch?v=xKlMl4II3_0

I have two GM vehicles but I say let them go bankrupt. I grew up in a union town and seen too many workers live high off the hog with their $150k a year earnings sweeping floors. Get a life! If the fed buys them out it will be my last GM purchase as I will not be buying a vechicle made by the government. If I wanted that, I would move to the former Soviet Union.

Bail out Consumers
The economic reports are depressing. Daily Wall Street reports that stock prices fall. Economists argue whether we are in a recession or a short-term doldrums period. The so called “Experts” offer their opinions as to the cause of the current problems. Government Leaders hold Summit Meetings to decide on the best approach to solve the problem. The immediate solution is to infuse Banks, Wall Street and Auto manufacturers with funds to enable them to avoid bankruptcy. Others point out that funneling funds to struggling firms must provide some regulations to supervise what will be done with the granted funds. Unless we know what factors caused the change in our attitudes-from great optimism for continued expansion of a bull market to a rapid change to a bear market with pessimism regarding the future.

I watched on Television a session of the British House of Commons, and the only issue in which Conservatives and Labor Representatives agreed was that the troubles were started by the United States. Blaming others is always a solution. Investment firms on
Wall Street encouraged speculation in the market by encouraging individuals to buy issues without having the funds to cover the purchase. Since more sales meant larger commissions and bonuses, realistic practices were ignored. In this optimistic setting individuals bought homes far beyond their capacity to repay the loans, and banks profiting from the sales overlooked the facts. Now the banks are faced with extraordinarily high numbers of foreclosures which means further losses. For years Auto Manufacturers made gestures of developing cars able to run on alternate fuels than gasoline. As soon as the price of oil dropped, they returned to manufacturing gas-guzzlers, since the return is a greater profit when sold. However, governments have to share in the blame. In their desire to provide needed services to their citizens, they ignored their budgets, and spent far more than they received in revenue. Wars and natural disasters are not included in budgeting, and generally are deficit financed. However, the past years have been atypical, and more and more deficit spending occurred.

As a retired Psychologists, who is now 86 years old, I wondered how this change in thinking could have occurred. Although I was teen-ager I remember the difficulties of the Depression years. My father was always self-employed as a Candy manufacturer so the Depression did not bring hardship to us. However, I remember people living in junked cars, cardboard cartons, on subway grates in Brooklyn trying to keep warm. No one could find a job, so they were begging for help. My mother was a Volunteer Investigator for a Society of Russian immigrants, who investigated the families applying for help. This experience taught me the necessity to save, and spend only what I could afford.

This year I read a book “Secret” by Rhonda Byrne. I was surprised that it was on the New York Times list as most popular. It’s message as shown in it’s summary “The only thing you need to do is feel good now” If you want money, act as though you have money, and you will attract money. Great advice for a Bi-Polar individual in a Manic state. They will
feel justified spending all the families funds, and wait for the money to come back to them. The only time this philosophy works is now. All those who took out loans for homes far above their means will now get the government to revise their mortgage to enable them to avoid foreclosures.

As a member of the “Great Generation” who served in the Air Force during World War II, 1943-1946, we are also “Notch Babies”. All those born between 1917 to 1924, receive less in their Social Security pension, than those who earned the same amounts as we did , but were born before or after our birth year. This was done to avoid having the Social Security funds run out. Thus, the warnings that something must be done to prevent Social Security from going bankrupt, and turning it into private retirement accounts is just a maneuver to get Wall Street more business. No mention is ever made of the Notch Babies in the news. However, there is an organization that each year conducts a survey asking whether you wish to get $5,000 paid to you in 4 annual payments, or by an addition to your monthly payments for the next 4 years. The gimmick is that this has been done for many years, and it always is cited as being close to passage by Congress. However, there also is an appeal for funds to help get the bill passed. How many of us are still living? When we are all dead, Congress will pass the bill, and it will cost nothing, and the organization gets funds for no work.

We all have our own, unique life style. As I mentioned earlier living through Depression years made Saving money part of my personality. I dutifully invested money in IRAs and 401Accounts. I left the Interest in the Accounts, and lived comfortably. I withdrew the Mandatory Distributions each year after I became over 70 I/2 years. I deprived myself by not joining a private Golf Club because of the expense involved. Now my Retirement Accounts have lost 40 % of their value since 1/1/2008. I regret that I did not act as the present generation, spend as fast as you earn or can borrow.

I, therefore, offer the following solution to our world Recession. Instead of giving money to Banks, Wall Street, Auto Manufacturers, give to Retired Seniors the funds their Retirement Accounts have lost, provided they will spend the amount for example to buy a new car. As cars are sold, new cars must be made to replenish inventories, and the economy is stimulated. All Capital purchases can be included, such as Refrigerators, Stoves, Air Conditioners, Heating units, Retirement Living Homes or Apartments, Nursing Home Admission, etc.

Since I do not know the number of Retired Seniors, it may be helpful to include all consumers, who lost money in their retirement accounts, in the group receiving funds as long as they will spend the funds within a specified time period. Consumer spending is the key to overcoming the Recession without needing to impose regulations on Banks, Investment Firms, Manufacturers, etc. in advance.

1) GM needs to cut their total car models to 25 (from 60). What they could do is get rid of all Buicks expect Lucerne and Terraza; get rid of all Pontiacs except G6; get rid of all GMCs except Sierra and Yukon; get rid of all Saturns except the Vue; get rid of Saab all together; get rid of at least three Chevy models; get rid of at least two Cadillac models.

2) Get rid of half the dealerships. Chevy seems to have the best distribution so change the Chevy dealerships to Chevy, BPG, Saturn, and Cadillac

3) Close at least three of the five regional offices

4) Close all Zone offices and have employees work out of their homes

5) Get rid of 50% or more of white collar workers in the field

6) The factories will close based upon which models will be discountinued

7) Have upper management take a 35% pay cut

8) Have middle management take a 20% pay cut

9) Cut advertising from $2.3 billion per year to $750 million

10) Get rid of advertising groups and have national advertising only

11) Get rid of co-op advertising dollars

12) Get rid of all promotional advertising

13) Cut all regional and national meetings that cost more than $100,000

14) No parties for auto shows

15) Have special cash incentives for cash only purchases

Comment by Saving GM - November 22, 2008 at 7:02 pm

A private jet is around $20 million dollars and flying per year at $20,000 each way for the daily workday trips probably averages $20 million dollars in air travel per year, per plane. That is $40 million dollars total (for air travel and plane cost) for just one plane. If GM has 5 planes – that is $100 million GM could save in selling the planes. Traveling in coach is probably no more than 5 million so that is a net savings of $95 million dollars. If the average factory worker makes $60,000, that is a yearly equivalent of saving 1,600 jobs.

Where did it all go wrong? It's not a Republican or Democrat issue, it's a consumer issue. Materialism. Greed.

It was greed that fed the Housing Bubble. Same greed that fed the Dot Com Bubble of the 90's. You have to buy to feed the economy, but Advertisers, the Internet, TV & especially CREDIT CARDS are used to the advantage of those gifted at making money at our expense. We dug our own holes while a few made Billions.

As for Buy American. GM & Ford are Global Companies. You buy a Ford Fusion (it's made in Mexico). Buy a Chevy Suburban, (it's made in Mexico). Buy a Chevy HHR, (it's made in Mexico).

We let Germany buy Chrysler; which is when Chrysler's problems began. My brother works at Chrysler. They referred to them as the Nazi's. I remember buying a 2001 Dodge Dakota. He made sure I was buying the left over 01 instead of a new 02. He advised me that Daimler was cutting the amount of metal in the 02 vehicles, as well as noticable decreases in quality. Read "Consumer Reports" reviews on Chrysler and Dodge cars and you'll consistently read "poor quality interiors", etc.

I will never again trust the Stock Market. Protectionism isn't the answer. If we tax imports it will save some jobs, but then the fewer available Goods will lead to inflation. Supply & Demand. If you cut the Supply the Price will increase without a corresponding decrease in demand. This is the Materialist USA we're talking about. Demand will not decrease.

So, how to fix it. To paraphrase what others have said: Times have changed. The economy the young have grown up in has changed, permanently. We must rethink how we spend and save. Put your money in Secure Investments, (ie: US Treasury Securities). Buy with cash, not on credit. It will hurt the economy in the short term, but will weed out the Poorly Run Companies. No more Stock Options for CEO's that make Millions while their companies circle the drain.

I'm a Republican, but if President Elect Obama and his Cabinet can fix it, he'll earn my Vote in 2012.

I'm 51 and have to retrain myself. Thankfully I locked a majority of our retirement savings into fixed accounts after the 2001 (9-1-1) stock market bust. I will pay off my debt, and in the future if I don't have the cash, I won't buy it.

I once believed I could see the retirement light at the end of the tunnel. No more. Reality is I'll probably work into my 70's. I served in the USMC. Went to College on the GI Bill. Worked in Banking, and for the past 15 years I've been a Paramedic. I am going to school for a second degree. I plan on retiring in 5 years, but to another job - as a Math Teacher.

Education, Education, Education. We as Americans cannot allow any free rides, to anyone. Yes we must help (the helpless), but no help the lazy. Put Street Gangs on the Terrorist List. Outlaw Lobbyists. Place term limits on Congress and the Senate. There should be no such thing as a Career Politician. Senators and Congressman should earn the same retirement as those they represent - Social Security or a self invested 401k. If that were the case, then Politicians would insure Social Security and 401 investments ARE SECURE. Instead they vote themselves 100% pensions for life with the Best Health Coverage in the World. All free for them because we the Tax Payer foot the bill.

As stated: Where did it all go wrong? Before we blame others, take a long look in the mirror.

Best Regards,

i hope GM goes bankrupt, and all those OVERPAID floor sweepers HAVE no choice but to go back to school, learn something then recreate themselves to live in the new world economy.

Its as simple as this, when gm builds a car worth buying,people will. As of today, i wouldnt buy anything gm, ford or chrysler sells, as they are all a pile of crap.

HONDA< TOYOTA OR MAZDA!!!

US automakers are like makers of Steamtrains and Black&White Television sets anno 2008: trying to convince us all that it's everybody else but their mistake that no-one wants to buy their products. Mis-managment if there ever was one!!!

Allow the invisible hand to slap them around.

Nikolaj, Denmark
http://www.kommunikationsforum.dk/Nikolaj-Groen/

SSR http://www.hjv.dk/ssr

when GM files so will I and 5 million other people.Lets then see how toyota and honda help the the US people out.LOL