GM (Goverment Motors) goes IPO today

http://money.cnn.com/2010/11/18/news/companies/gm_ipo_akerson/index.htm
Same crappy company building same crappy cars by same UAW.

Whats amazing they are finding suckers to buy their stock.

 

GM sucks!!!! Don't ever buy from them again ever!

 

why trash UAW? unions are good...take care of labor-not management

 

Not sure what Unions are good for. Every car made by them sucks quality wise. Even Toyota's made by UAW compare to Toyota made in non-union factories have much bigger share of the issues.

 

GM products suck, they just don't hold up and GM is not interested in helping out their customers at all when something goes wrong. I made the mistake of buying a car from them. Never again. I also won't let my immediate family buy from them either cause I end up working on the cars.

Also, not a big fan of the unions either. I've been on both sides of the fence and think they had a place back in the day (during the industrial revolution when sweat-shops existed). Today, I think they are designed just to make the people at the top rich by taking a cut of everyone's pay. Personally I'll keep my money and fight for my own raises and benefits.

Perfect example. When I first got out of auto mechanic school, I worked at a dealership for one of the big three (hey I figured if I worked at a Toyota dealer, I would starve). My first month was dedicated to oil changes. If the lunch bell rang and all I had left to do was put oil in the car and pull it out, I had to stop and take my hour lunch and make the customer wait. This really sucked cause my bay was in view of the waiting room. Once, I decided to just go ahead and put the oil in and let the customer be on their way. I was told if I did it again, I would have to pack up my tools and leave. I left a month later on my terms.

 

HA! more like take care of union management

 

The only people that unions today are good for is union management. Years ago they helped make the workplace safer and helped get rules in place to improve the work environment, but that was the end of their usefulness.

Workers think unions are good for them because they fight for raises and improved benefits. The workers are correct...right up to the point that the company decides that workers in India are more economical. I'm not going to say that unions are solely to blame for job losses and outsourcing, but they certainly are to blame for a lot of it. Unions drive up the cost of American labor plain and simple. When there are blue collar wrench turners making as much money as middle managers with MBA's that is called a labor cost imbalance. It is hard to find folks in India that can speak English well and perform corporate tasks for a company based in the U.S., but it is very easy to find someone to turn a few wrenches for half the price an American costs.

Now before you all attack, I'm not saying that I agree with this practice, but companies are in business to make a profit. When unions drive up the cost of labor and eat into those profits, companies react.

 

I was a GM person, sold my Silverado this summer (still like the Z71's) however I now have a recently acquired 03 Taco SR5 beauty little truck and my daily driver is a 99 Corolla,
Toyota quality is amazing, and for me it is seeing my investment in these vehicles reamaining relatively stable, and they look cool to!!!
It's about getting perceived value for your dollars spent, Toyota far exceed this i think, GM have lost that, I have always said GM have built in obsolesence at around 100,000 km's, greed has also been part of their demise union or no-union.....

 

I like the Z71s.... GM stepped up on their quality and are actually dishing out good products since they became Government motors.

 

agreed! now if they can only attain cult status LOL!

 

What is amazing is that all of the people who had stock in GM and lost it are not qualified to buy into the IPO and will not receive shares to replace losses. But offshore purchasers are allowed to gobble up large sums. Does this not sound alarms for anyone else? If this stock isn't at 25 or below before the end of the year I'd be surprised.

 

Nothing wrong with GM. I like the durmaxes, they did a great job on their previous gen yukon xl/surbaban 8.1s.

 

union workers may be good people, but the union bosses are corrupt like our politicians. it is my opinion that alot of our sourcing has been caused by unions. american workers wages have been so blown out of proportion, that companies can not make a profit so they are forced to go overseas and use cheap labor. I am sorry but there is no reason for a uaw line worker to make anymore than 20 bucks and hour. gm was paying so much in legacy costs to the unions that they were selling each vehicle at a $2000 loss. gm actually makes it profits off of gmac its financial wing, not its automobiles.

 

could not have put it anybetter, union has a layer of DARK management always have always will, once this sourcing returns to N.A and unions return to a level where the companies can have control of profit, quality, price and pride in product will likely return to a level that we are wanting, until then i will continue to buy offshore product, it just works!
an example i see in Canada is BRP or Bombardier, they make ski-doo's, Can-Am wagons or 4x4's seadoo etc, the Can-Ams are now being produced in Mexico, so to your point yes outsourcing is happenning all over the place, and as well BRP is privately traded division at least this part of the leisure business, their planes and trains are another division.
The old saying "nothing lasts forever"...........