[IH8Rice]

Also, lets have GM headed up by someone fresh out of college. They won't have much experience, but in this case GM would be no worse off.

Fritz Henderson, GM’s president and chief operating officer becomes CEO

 

[IH8Rice]

jesus christ...i hate people even more now....i hope he turns down the money:

Upon his departure, Wagoner becomes eligible for both a "Salaried Retirement Plan" and an "Executive Retirement Plan" with General Motors. The combined value of the plans at the end of last year was $20.2 million, according to the company's filings with the SEC, although compensation experts said his age -- 56 -- may make him ineligible for the entire amount

http://abcnews.go.com/Blotter/story?id=7208201

 

[Secret Squirrel]

Yaaaaayyyy!!! Let's hear it for golden parachutes!

"Oh yes, Mr. Obama...I'll step down...*snicker cough wheeze*"

 

[IH8Rice]

technically its not a "golden parachute"

its a "Salaried Retirement Plan and Executive Retirement Plan'

ha...sh!t, i wish if i was fired i would get millions. Circuit City's CEO got a similar amount too for ruining a company.

 

[Secret Squirrel]

technically its not a "golden parachute"

its a "Salaried Retirement Plan and Executive Retirement Plan'

ha...sh!t, i wish if i was fired i would get millions. Circuit City's CEO got a similar amount too for ruining a company.

And technically, OJ didn't do it...

Technically Michael Jackson isn't legally retarded, but just look at that f*cker and tell me otherwise...

I've got a new board/video game idea. It's called 'Semantics'. Still working out the details...but it's gonna be a winnar.

 

[IH8Rice]

And technically, OJ didn't do it...

if the gloves doesnt fit, you must acquit.


theyll all be saying that the next 9 years in jail with him im sure

 

[Defenestrated]

Obama needs to grow some balls, if American people are keeping them afloat we get to fire everybody.

 

[jimmydean]

I'm going to buy an H3T then quit!

 

[IH8Rice]

they just realized that Hyundai's idea is a good one...although Hyundai is claiming not too many people are taking them up on that offer. Im sure Boogenman can shed more let on that subject since he sell those North Korean commie cars

 

[IH8Rice]

http://www.autoblog.com/2009/03/31/incentive-program-comparo-gm-vs-ford-vs-hyundai/

i couldnt past the graph here

 

[Toshi]

I'm going to buy an H3T then quit!

you can't quit, gotta be fired. implicit in the statement below:

Customers must qualify for state unemployment to be eligible for the program

 

[jimmydean]

you can't quit, gotta be fired. implicit in the statement below:

Semantics.

 

[dan-o]

Semantics.

Isn't owning a Hummer grounds from dismissal in Portland? Sounds like you've got it made!

 

[DaveW]

Semantics.

Now now, don't be anti-Semantic buster.

 

[IH8Rice]

the Hyundai group and Subaru still did great (comparatively) again
http://www.autoblog.com/2009/04/01/by-the-numbers-march-2009-aint-no-joke-edition/

 

[IH8Rice]

is GM completely hosed? why yes, yes they are

General Motors Corp., which for much of its 100-year life was the world's largest automaker and the pinnacle of corporate America, today filed for bankruptcy reorganization in an attempt to rebuild itself as a smaller and leaner automaker.

http://www.freep.com/article/20090601/BUSINESS01/90601021/1014/rss13

http://finance.yahoo.com/news/General-Motors-files-for-apf-15397846.html

 

[jonKranked]

The unions always came across as having an "All or Nothing" mentality. Well, it looks like they finally got nothing.

 

[IH8Rice]

The unions always came across as having an "All or Nothing" mentality. Well, it looks like they finally got nothing.

17.5% stake in the company....its more than the Canadian government has!

 

[jimmydean]

Yup, still hosed.

 

[jimmydean]

Ouch.

Dow Jones pulls GM from index.

The Dow Jones industrial average is the latest Wall Street institution to be reshaped by the financial crisis.

The stock market's best-known barometer is adding Travelers Cos. and Cisco Systems Inc., replacing Citigroup Inc. and General Motors Corp. The move comes as GM enters bankruptcy protection, a move that was widely expected.

Dow Jones said Travelers, the property and casualty insurer and one-time division of Citicorp, would replace its former parent. Cisco, which makes computer networking gear, is filling the role left by GM after 83 years as part of the Dow.

 

[IH8Rice]

it wont happen until June 8th tho. at least they picked CISCO, a great company.

 

[jonKranked]

17.5% stake in the company....its more than the Canadian government has!

17.5% of a pile of garbage is still garbage.

 

[IH8Rice]

supercar company Koenigsegg is now buying Saab using GM's current platforms and powertrain setup.

Volvo owns a real small stake in Koenigsegg ($1022 worth), so technically speaking, Volvo is now part owners of Saab.

Penske now owns Saturn, Chinese company Sichuan Tengzhong Heavy Industrial Machinery(STHIM) now owns Hummer (pending Chinese government approval)

 

[jonKranked]

supercar company Koenigsegg is now buying Saab using GM's current platforms and powertrain setup.

Volvo owns a real small stake in Koenigsegg ($1022 worth), so technically speaking, Volvo is now part owners of Saab.

Penske now owns Saturn, Chinese company Sichuan Tengzhong Heavy Industrial Machinery(STHIM) now owns Hummer (pending Chinese government approval)

Hummer, almost owned by SHIMS.

 

[IH8Rice]

Hummer, almost owned by SHIMS.

haha.

 

[blue]

supercar company Koenigsegg is now buying Saab using GM's current platforms and powertrain setup.

Volvo owns a real small stake in Koenigsegg ($1022 worth), so technically speaking, Volvo is now part owners of Saab.

Penske now owns Saturn, Chinese company Sichuan Tengzhong Heavy Industrial Machinery(STHIM) now owns Hummer (pending Chinese government approval)

I saw a Koenigsegg on Saturday. Driving.

 

[IH8Rice]

I saw a Koenigsegg on Saturday. Driving.

thats a pretty rare thing to see. i woulda probably crash trying to take a picture of it

 

[DaveW]

Does this mean Saabs will become fast again?

 

[dan-o]

Does this mean Saabs will become fast again?

Were they ever? My turbo 900 certainly wasn't. They were quick to rack up the repair bills though, I'll give them that.

 

[DaveW]

Once upon a time their mid range acceleration was better than a porsche.
Then GM turned them into a Saab shell sitting on a standardized GM platform.

 

[rockwool]

Were they ever? My turbo 900 certainly wasn't. They were quick to rack up the repair bills though, I'll give them that.

The old 900 (pre 92) was a pretty fast saloon for it's day with its 175hp's. But more so it is the predesessor to that model, the 99Turbo, that was a fast 70's era car.






I've got to say that the future might be looking good for SAAB as Königsegg plans to go a similar path to BMW, a brand that hasn't shared platforms with other makes and thus kept its identity high.

Now if the new owners only can realize that SAAB has been producing awfully ugly wheels, and that WHEELS SELL CARS, so they give that assignment to a new crew!!

 

[blue]

To answer the question the OP posed. Yes. GM is fvcked as fvcked can be. IMO there are two options on the table - nationalize or chap 7.

lolwut?

that's all. considering the tags.

 

[stevew]

lulz....

http://www.gmreinvention.com/

 

[Inclag]

lulz....

http://www.gmreinvention.com/

GM on Twitter and Facebook??????

Sometimes I hate the world

 

[IH8Rice]

Pontiac, Saturn and now Saab are DEAD

Supercar company Kooennnissieegg and Spyker were smart enough to back out of the deal just like Penske did with Saturn
http://jalopnik.com/5429575/saab-officially-borked?skyline=true&s=i

Brand to be Wound Down
General Motors announced today that the intended sale of Saab Automobile AB would not be concluded. After the withdrawal of Koenigsegg Group AB last month, GM had been in discussions with Spyker Cars about its interest in acquiring Saab. During the due diligence, certain issues arose that both parties believe could not be resolved. As a result, GM will start an orderly wind-down of Saab operations.

 

[IH8Rice]

well Spkyer Cars finally were finally able to get Swedish car company, Saab.
the concepts that GM have been testing have been looking very promising.
http://www.autoblog.com/2010/01/26/breaking-gm-reaches-agreement-to-saab-to-spyker/

 

[IH8Rice]

bye bye Hummer

press release:

DETROIT – General Motors today announced that Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. (Tengzhong) was unable to complete the acquisition of HUMMER. As a result, GM will begin the orderly wind-down of the HUMMER operations.

"One year ago, General Motors announced that we were going to divest HUMMER, as part of focusing our efforts on Chevrolet, Buick, GMC and Cadillac going forward. We have since considered a number of possibilities for HUMMER along the way, and we are disappointed that the deal with Tengzhong could not be completed," said John Smith GM vice president of corporate planning and alliances. "GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner."

GM will continue to honor HUMMER warranties, while providing service support and spare parts to current HUMMER owners around the world.

http://www.autoblog.com/2010/02/24/hummer-gm-sale-tengzhong-wind-down/

 

[rockofullr]

not gonna miss them. The OG hummer was pretty bad ass but everything after was a joke.

 

[IH8Rice]

not gonna miss them. The OG hummer was pretty bad ass but everything after was a joke.

couldnt agree more. horrible horrible designs after the H1. the H2 was basically a Tahoe/Yukon with a fvcking ugly body on it


this is kinda cool, but it took someone besides GM to make it kinda cool

 

[sanjuro]

I passed a Hummer in the left lane when I was on my motorcycle today. It still makes me angry to think they exist (and this ahole driver was blocking my way).