Re: GMs best quarter in 11 years
 

Well said Bill.

On another note...we need to be clear, this was not a bail-out, it was a loan and they are paying us back.

I for one am glad that GM/Chrysler are doing better. I do know that in Janesville the plant here is still on "idle". That doesn't mean much but it's better than being sold.

Kurt

Re: GMs best quarter in 11 years
 

Yes Bill I am with you. Sometimes things get worse before they get better. Just not sure how anybody (Govt., Wall Street etc.) can price GM stock higher than Ford.

Re: GMs best quarter in 11 years
 

I saw on CNBC today they where talking with two dealership owners and they asked if they where offered part of the IPO. They where and when asked by CNBC if they where going to participate in the offering one GM dealer said "NO". Makes you wonder. I agree Sam, I don't really know where that high number is coming from. Seems a bit high.

Re: GMs best quarter in 11 years
 

Looks like us tax payer's will lose Billions on this Gm goverment loan.

Re: GMs best quarter in 11 years
 

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: [email protected]</div><div class="ubbcode-body">Yes Bill I am with you. Sometimes things get worse before they get better. Just not sure how anybody (Govt., Wall Street etc.) can price GM stock higher than Ford. </div></div>

Probably because the full faith and credit of the U.S. Government backed up the GM loan money while Ford has no such backup. If GM fails the government is on the hook but if Ford fails their share holders are out of luck. Same reason people have fled into U.S. Treasury bonds lately as the stock market gyrates. The yield is low but guaranteed.

Re: GMs best quarter in 11 years
 

I think you will find that Ford borrowed something like $38 billion just before credit was shut down. They are still carrying that debt while GM pulled a fast one and dumped all their debt and common stock share holders too. I've been told that GM never was in financial trouble in the first place. Backed up by a bankrupt government wouldn't give me much confidence.

Re: GMs best quarter in 11 years
 

They filed for bankruptcy protection... I would call that some serious financial trouble? JMO

Re: GMs best quarter in 11 years
 

when GM and Ford get their plants built in China,then they really will be making assloads of money.

money is flying all over the place over there.

Re: GMs best quarter in 11 years
 

I think the gov't taking over GM was the right thing to do at the time. If GM was allowed to go bankrupt it probably would have been parted out and companies in other countries would have bought up what was left.

Most people do not know this but GM has the most advanced R and D department especially in alternative fuel of any car company in the world. I would hate to see that technology go to another country and we lose our future possible patents and knowledge and expertise.


This happened to the farm industry over the last 10-15 years. Most of the US farm equipment industries have been bought by international conglomerates and design and production have been shipped to other countries.


Buy a new farm tractor lately? Just about all are made in other countries and assembled here. John Deere?? All made in India excpet for the very largest tractors (For now). My neighbor bought a new Deere with a front end loader etc and was bragging about how it was made in the US. I laughed and said the guy who built your machine ate curry for lunch. He had no idea..What's more American than John Deere ..right?

New Holland which was bought out by Fiat inked a deal several years ago with LS in S. Korea to design and produce all the new farm tractors for them. So Korean engineers will have all the future patents and expertise in farm tractors design and the US is going to be the final assembly point and our engineers are left out. Once the current crop of engineers in the ag industry die out farm tractor design will be forever lost in the US.
There are some independent US producers of implements out there but they will probabaly be next.

Btw; The new LS built New Hollands arrive in crates and all our people do is add the wheels,seat, hood, fenders and rops...LIKE ASSEMBLING A BICYLE FROM WAL-MART. The Kubota plant in georgia is the same way. The entire factory only has 30 people per shift who assemble 60 tractors per day.


Not a single compact farm tractor is made in the US. Not one. Even the large 100 hp + ones are going overseas. I just saw a large 100 hp at my dealers and on the cab window was a badge saying &quot;proudly made in Ankara Turkey&quot;

We are on a race towards the bottom. Our economic competition practice &quot;economic nationalism&quot; especially Asian countries. i.e.they look out for their own countries economic interest first. Our ceo's are just independent guns for hire with no loyalty to the US. All they care about is the next few years profits and heck with long term ramifications to the country because they will have gotton theirs and screw everyone else. They will cash out their stock options, take their multi million dollar golden parachute and run.

Trump brough up S. Korea. They block our goods and autos via tarrifs but when N. Korea was doing some saber rattling to them last year we sent a aircraft battle group to help them out at a cost of over $100 million dollars which they will not pay for. We are truly the most dumbass*d country in the world.

Off my soapbox now.

Re: GMs best quarter in 11 years
 

Deere parts aren't all made in China - we make a lot in our plant in Mexico!