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Having worked turnarounds with GM suppliers it is obvious they have a serious internal attitude. This "were in charge" attitude will hamper their ability to work with suppliers. Ford on the other hand works hard to help the suppliers we have worked with.
GM will need all the help they can get, if the companies paridigme can be changed soon enough.

Could any less be expected? A bankrupt country in charge of a bankrupt company.

STORY AFTER STORY ABOUT GM AND THE POSIBILITY OF BANKRUPTY. ALL YOU HEAR IS THE UNION AND BONDHOLDERS NEED TO GIVE UP EVERYTHING THEY WORKED FOR AND EARNED. BUT NOT ONE WORD ABOUT THE MULTI-MILLION DOLLAR TOTAL COMPENSATION THAT ALL THE THREE LETTER[CEO,CFO,ETC.] MANAGEMENT EMPLOYEES GET. WILL THAT EVEN COME INTO TO PLAY?

GM has been acting like things aren't that dire so they wouldn't scare away the prospective consumers. Publically GM has been playing like they are doing OK. That is what caused Wagoner to lose his job. GM is not OK and they are no longer the top dog. GM will go way down on the Forbes Fortune 500 list. GM will continue to lose market share and will be a small American car company with just a few dealerships. The ones that I feel sorry for are the companies that GM owes money to. Those companies will go bankrupt as well if they can't find work to take up the slack from losing GM as a customer. The UAW workers will not be top tier paid either. They will all eventually have to settle for $14.50 an hr.. There are more happy consumers to see that happen. Sad but true.

Hello,
Dont make a comment here because if they dont like what it says , they wont post it .

How is that UAW worker think they worked for what they got ?
Oh , striking for more money and benefits that increased auto prices year after year , yep they worked for it , bankruptcy that is .
UAW racketeering coming to a end , now they are looking at Casinos for more money Unionize Casinos !

Other than the UAW workers,with the GM top executives,and the US Treasury,who really cares if both GM and Chrysler vanish from the auto industry? They will be replaced rapidly with new industries that will not negotiate suicidal working contracts.State of the art automobiles will appear,they exist,the UAW will not allow them to be sold in the US.They meet all current and proposed mileage and EPA criteria.Why are we waiting?

This is really not about GM, but about the entire industry world wide. GM is a large focal point that it's leadership demise back in the 1970's. All of the U.S. makers have been playing catch-up since. At this point they all make a decent product and the same can be said for ALL auto manufacturers.
It is all about the state of the world's economy and the failure to sell cars, both here and abroad. Toyota is not reporting profit either and it is a major blow to what has been the worlds leader. While they are far from bankrupt, it is a real problem in Toyota City. The German auto industry has needed government help and they have a lot of company. All in all this means that suppliers will produce less and need less manpower which only means more job loss and of course, less people in the market for a new car.
We do have some serious problems but the people on top rarely look at the tidings at the bottom. So they say, things are looking up! Now if we can just find a way to spend confidence and optimism?

I find it interesting that we can pump 3 trillion dollars into the banks, who produce nothing, and let our manufacturing sector wane away, and call it capitalism. The difference is that the banks are in control of Congress, via K street, and the car companies are just another business they can do without, screw the working class and their unions. At the same time they let the Chinese and Japanese take over because they know how to produce cars better and cheaper, not accepting the fact they subsidize their industries to kill ours, because they know if you don't produce something that you will not be a world class economy. The list of countries to fall for the to big to fail economy, Spain, Portugal, France, England, and next? You fill that one.

There is no such thing as a free market, only a market, without Government as its referee.
Adam Smith: "What improves the circumstances of the greater part can never be regarded as an inconvenience to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." Thus the father of our economic system puts forth that a middle class must flourish and taxation should be just and progressive to account for the commons, who all our citizens and businesses use for their benefit. And that government’s job is to act as a referee in the private sector to promote growth and stability in the market so no undue influence, foreign or domestic, becomes more controlling of labor or the market.

Everyone keeps putting in their two cents but not a single one has hit on the real problem of what got us to this point. Do some checking if what i say doesnt strike a cord. Look at your oil prices. What kept the auto industry profitable all these years was cheap oil. The oil by the barrel right now is 3 times of what it was just a few years ago. no i am not talking about last year or the year before. look a little futher back like 5 to 10 years ago. that is when this problem started. That is when all this process first started when the crude oil prices started going up. The car companies was turning a big profit then and even put out memos saying as much internally. They didnt look far enough ahead. So if you want to start pointing fingers go back several years to the real problems. Oil is going back up again. This is the driving force behind all the world governments. You want to stop the problems today reign in oil companies.

Reigning in oil sounds fine and easy. But the US doesn't own the oil companies or the oil fields. If we clamp down on prices they will sell their oil to Japan, China and Europe who will pay more. Oil is truly global and the US cannot control its price.

What a stupid statement for the financial writer of this article to make. "Depriving shareholders of financial rewards they're not entitled to leaves more value to be distributed to creditors." Is this Wall Street cutting it's own throat? If a shareholder deserves nothing of any assets why bother to buy stock in a company? Job well done "writer", sink the auto industry then turn the guns on yourself.

We are all missing the big picture. We have become a consumer nation, making very few of the products we use daily. No longer deal with the world from strength but from a weaker position. We need to return to making more of the things we use, relying more on ourselves and less on others

I really feel GM does not want to sell cars. I was in a local Chevrolet dealership and I was going to buy a brand new pickup. Chevrolet did not have any good deals especially for a company who at this time (a couple of weeks ago) were on the brink of going bankrupt. The 0 percent option was not for the pickups. Look at Chrysler deals and then you wonder what is going on with GM.

My husband retired after working for GM for 30 years, he stayed there only because of the benefits, what is gong to happen to us now? are we going to lose our benefits and his retirement? What is going to happen to us??? We are frightened to death and don't know what we are going to do. Someone please let us know.
Gloria Peach