Mattel Inc. worth more than G.M.

[67BelAir427]

According to the latest stock valuation Mattel Inc. now has a higher market value than General Motors. Matchbox and Hot Wheels cars may now be worth more than the full size versions.

[CC Rider]

It's a very bad time for US automakers. FWIW, the business section of our local paper says GM and Chrysler are on the verge of bankruptcy. Kind of scary.

[firstgenaddict]

I read analysts expect GM to burn through 18-24 billion yes that's billion with a B in the next 18 months... And only have 9-10 Bil cash on hand... so it's either pledging assets as collateral or some creative financing... Bet they are glad to have unloaded their majority stake in GMAC, as they are getting NAILED in the mortgage mess!

[DarrenX33]

Is all that Chinese lead worth that much? http://www.yenko.net/ubbthreads/images/graemlins/dunno.gif

[wheelhop]

So my diecasts are now worth more than my car?

[427TJ]

They'll probably take GM into bankruptcy, restructure the company (dump all its employee obligations on the federal government a-la the airlines) and move it to China (posibly Mexico but there's no Communist government to opress the workers and brutally stifle any labor unrest in Mexico). China: no EPA, no OSHA, no unions, no laws of any kind: the new Wild West. Who knows, maybe Chinese Chevys will be good cars? Cheap too! You'll probably be able to buy them at Wal-Mart!

Okay, okay, I'll stop now.

[Kim_Howie]

pLEASE cONTINUE!! http://www.yenko.net/ubbthreads/images/graemlins/haha.gif

[nuch_ss396]

I know this will probably bother some members here that are union
workers, but enough already! Someday someone will write
an accurate narrative about the auto worker unions and just
how much financial damage they have inflicted on the car
companies - all in the name of the good of the workers.

Where's the sense? Pretty damn soon these union workers
will be looking for new jobs and it is quite doubtful that
they will find employment for anywhere near the same pay
rate and level of benefits. Where's the union then?

I'm developing a large scale manufacturing process
in a union shop and the BS is non-stop and ultimately
crippling to our progress. It has to be the same for
the automakers. This is not a reflection on anyone
that happens to be in a union, just the way the unions have
crippled manufacturing companies. If GM sinks, God help the
rest of us http://www.yenko.net/ubbthreads/images/graemlins/eek.gif

I don't know what to say anymore. Everyone wants to buy
foreign cars because the quality and resale value is better.
I can't blame them...... But where do we go from
here? How does GM climb out of this hole? How do we?? http://www.yenko.net/ubbthreads/images/graemlins/dunno.gif

Nuch

[TDW]

It isn't just the Unions. The Management is horrible too. My wife just retired from GM with 31 years on the trades. I could tell you true stories that would make you sick. The skilled trades are a joke. I can tell you about workers getting paid 7 days, 12 hours for doing nothing but sleeping. Management and the highest in- plant Union reps knew it. I personally called and spoke to the Assistant Plant Manager, the head of Human Resources and the Lead Engineer of the plant. I told them where they were sleeping, who they were, who their supervisors were, and asked ALL of them to do something. Not a one of them did. This went on for 2 years. I have waited until my wife got out of there to say anything, due to the repercussions she would of gotten. There are skilled trade people that punch in, leave and come back to punch out everyday. The minorities get away with more so, because the supervisors are afraid of the race card that is played all the time. I could write a book about the stuff that goes on in the factories. I have said for years shut them all down and start over.

[firstgenaddict]

The papermakers union strike at a paper mill in Western NC caused the mill owner to close the mill and file bankruptcy... The avg wage at the mill (in a very rural mountain town) was $28 per hr. The mill is gone and now what do you think the avg wage around there is? 10-15 an hour? Less than what the owner was asking for... 15-20 per hour. But now the union can say... look we put them in chpt 7.. we will do it to you too!

[67rscoupe]

Gm may sell of the Hummer brand.This may be a good idea.

[TMagda]

The selling Hummer idea may just be indicative of how clueless (or arrogant) the GM management really is. Who would buy it?

[Chevy454]

[ QUOTE ]
Everyone wants to buy
foreign cars because the quality and resale value is better.

[/ QUOTE ]
Perfect example of today's perception from too many years of mediocrity at the Big 3...they have made great strides within the last decade, and several domestic offerings are often on par or better than the percieved *superior* foreign manufacturers...perfect example is the Chevy Malibu, which is winning acolades from everyone, just in time for GM to go under...I just hope it's not too little too late. I shudder when I say this but, a combined effort w/shared technologies in Detroit might be the only way the Big 3 can pull this out...?!

Just $.02 from some dumb hillbilly...

[Salvatore]

Who is big business going to blame when all the unions are gone? They should get rid of the unions and with that get rid of collective bargening, pension plans, health care, safety meetings and ALL the other BS us Americans don't need! I think big business should get more tax breaks, build more factories over seas, pay their upper management more money and have ALL the say in human resource relations. I would set a wage standard of $15.00 per hour for auto workers and make them responsible for any insurances they may need. While I am at it, make them responsible for their retirement package also. I think it is great to blame the unions and the American worker for the demise of the manufacturing sector of this country. Its a shame we as Americans didn't think of this about 100 years ago before the steel companies and the auto companies that were union made billions of dollars and spent lavishly on country clubs, gold courses, mansions and what have you. I don't think I could EVER blame our govt. some of our enviro people or any of the management of the companies for selling us down the river. No, not them. "Its got to be those union people". I know one thing I will blame on the UAW they gave these companies the opportunity to make fortunes for at least a 100 years and make our nation the strongest, safest and a one point the most high tech industrialized country on earth. Its real easy to place blame. I bet there is only about 14% of the work force that is union in this country anymore. Lets see who we can blame next for our troubles! And of course this is all just MY opinion. http://www.yenko.net/ubbthreads/images/graemlins/beers.gif

[Hylton]

There are a few issues here - First, the desire for wealth is what has created this loss of the manufacturing sector in North America. Companies are always looking for the cheapest way to bring a product to market. If that means moving manufacturing to Asia, so be it. Oh and it's not coming back either until China and India's salaries are near ours.

Second - quality. Rob is correct when he says that the Big 3 produce some products that are on par or better than the Japanese counterpart but too little, too late. It is very hard to get an individual to try something else when the last car they drove for the last 10 years (Honda or Toyota) was trouble free.

When people say that Japanese parts are so expensive I laugh and say "Go price out a muffler assembly for a GMC Yukon". That used to be one strong point of Big 3 ownership - parts were cheap. Look at all the young kids these days (who typically are broke like all teenagers). What are they driving? Imports.

GM has some fantastic products out there right now (Cobalt, Aura, Vibe, G5, Aveo, Malibu) which are right for the times but the problem is they wouldn't know how to market an ice cream cone on a 100 degree day.