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The long, slow descent of GM

Posted Jul 07 2008, 02:00 PM by Minyanville
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The one thing you learn early on at the racetrack is that when the desperation sets in you can't run around like a lunatic feeling under seats for change and scraping together discarded mutuel tickets looking for a live one somebody accidentally tossed. Hell, at decent tracks they will immediately escort OFF THE PREMISES anyone caught collecting discarded mutuel tickets.

If this seems harsh, put yourself in track management's shoes. From a business standpoint, this makes good sense. They are trying to run a business that turns people into broken, desperate beggars; not host some kind of weird halfway house for people who got that way prematurely.

Unfortunately for General Motors, and all the more horrific for us, there's no such entity, no governing body with an enforcement arm possessing an all-powerful eye-in-the-sky surveillance system capable of identifying this kind of ugly, shameless degenerate behavior and then quickly shooing them out of our eyesight. No, we're forced to witness the entire grisly descent, the whole god-awful collapse into desperation.

Where will it end? This morning, responding to reports the company is probably going to axe thousands more salaried jobs and is hoping to sell off some of its brands, GM said No... they're only looking to sell the Hummer. This is shockingly bad timing, if for no other reason than the memory of GM giving everyone the finger and rubbing our noses in the oil splattered tracks left by these military transport vehicles remains so fresh, so vivid.

If our post-90s version of socio-capitalism were not so primitive, we'd be shielded from embarrassing sights like GM hawking off its Hummer line.  That the abandoned carcasses of these vehicles will soon be recycled into low-cost housing for the homeless is cold comfort.

Top Stocks blogging partner Todd Harrison is founder & CEO of Minyanville.com. This post was written by Minyanville Executive Editor Kevin Depew. Excerpted from Five Things You Need to Know. Click here for the other four things.

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Comments

 

please explain to me why americans choose to not support our country when it needs it's the most ever.........domestic manufacturers have witnessed our govererment and it's politicians especially(as well the media in particular) contribute most significantly to the demise of the the most reliable supporters of this  country in times of war time after time as well as the economy--------yet the analysis, if ever made, comes down to "follow the money".   from import sales in america back to american economy or back to the countries who have much lower hourly wages,etc......in other words, and the answer i need is----------on a per basis- what is the benefit in terms of dollars to our country--for example a malibu vs. a camry........we always here about the health care costs of a domestic vs. foreign,-----------but maybe we should hear about what americans buying an import actually costs each and every american citizen.

I don't understand how GM got caught with there pants down, they had to see this coming way before fuel started going up. They only hire the top guys for there management teams, I know this because I head-hunt for them. I know you must factor in rising health care cost as well as retirements/pension issues. With all of that said, I still find it hard to believe these guys are this stupid to let the brand/company go to Hell in a hand basket. I think greed and egos played a big part in all of this.

Hey Dan......your a moron.......or is it, you're a moron.

I'm a moron but I'm not that stupid.

Wow , I can't believe how people live in the past and think in a box .  Subarus and Toyotas were better 20 years ago and I owned both ,  but now GM products make those vehicles look like cramped overpriced toys . My2007  Impala is twice the size , uses less fuel and costs much less.  In addition it handles better, looks great and is more reliable than our Camry ever was .  I guess the Subaru customers must think this is 1979 and Jimmy Carter is the president .

GMC's are awesome! Who wopuldn't like them? I bought Dave's S- 10 Blazer boy is it sweeeeeeeeet!!!!!! at least I used to think that. Now they are going by-by for ever with how horrible there doing.

I don't understand what the fuss is all about. I may only be 12 but i still now what a GMC is and love them.

I have had GM cars all my life, mid size one's in particular and with proper maintance they have been into the 150,000 miles range and more.  Actually gave away a Ciera with 154,000 miles on it to the church.  AND now have 2 Chevy Impala's, 2001 @ 2003 and not only are they getting almost 30 miles a gallon, they are HUGE compared to a Toyota and Honda in size.  Expect them to live the rest of my life, feel safe in them in total.  Not to mention all the issues that GM and Ford have been through, but in Business don't you produce what the buying public wants, I mean it makes sense, YES they got burned and hopefully they will survive and thriff again, as they should do....Bottom line, is this, you see ad's in the paper to buy local farm products, by stuff made in your state, well I see why not BUY AMERICAN no matter where in the USA it is made....or at least buy from Canada as most Impala's are made.

I get tired of everyone saying American cars are crap and imports are top of the line, thats is perhaps the most BS I've read in a while. I've been an automotive technician for 8 years now and I've worked on several makes and models, so for starters, I'll debunk the "they only last 100k miles" crap, I've seen more AMERICAN vehicles running with anywhere from 125,000 to over 500,000 miles on the clock than I have imports. I'll also add that it's not just the quality that makes that happen, its how well you maintain your vehicle that makes that happen. I for one, would much rather pay to maintain a Ford, Dodge, or GM than an import. Reason one, maintenance is cheaper. Reason two, major repairs are cheaper. Reason three, if you break down out of town or in a remote area, you have a much better chance of finding even a basic mechanic that has general automotive skills, that can repair your Ford, Dodge, or GM, better than if you have an import, and parts are probably in stock. Yes, imports get better fuel mileage than a lot of American vehicles, but if you have a little automotive knowledge, you can increase the MPG on just about any American vehicle. Also, I for one would rather get 3 or 4 miles per gallon less in an American vehicle that has some power behind it, than sip gas in something that I'm afraid to pull out it traffic with for fear of being run over because it has no power. As for the VW comments posted above, I tend to disagree on VW being so good. The ones that I have driven and worked on, were, well, I was not impressed by anything, and the repair costs were double what it would have been on a comparable American vehicle. My final remark on reliability, is that no matter what you have, if you maintain it, it'll last, but I lean more towards American vehicles on that perspective, as if you keep up with maintenance, you wont have a lot of major repairs to do down the road. Also, quit criticizing the SUV and truck owners, calling them all gas hogs and environment haters and such, you show me how to put fifty 2x4's, 20 sheets of 8x4 3/4in plywood, 20 packs of shingles in the trunk of a civic or corolla, and load forty 80lb bags of concrete on a trailer and hook it up to that civic or corolla, then show me how it's supposed to move down the road with all of that, then you can talk your garbage. Show me how to fit a family of 6, along with all the luggage, in a civic or corolla and take a long trip comfortably a safely, then you can talk garbage. (all that weight in a civic or corolla and it'll only get 10mpg)

To the people who say buy American just because it's American... you never, EVER shop at Wal-Mart, do you? People will buy what's popular first,  what they want second, what they need  third.

To the obviously young and inexperienced... You buy your Jetta's and 3 series because of a status symbol. If you ACTUALLY SHOPPED QUALITY (and yes, comfort) and not perceived qualities you may suprise youself and buy (dare I say) American. I cant tell you how many twenty somethings actually say the chevey's are nice cars but wont own one due to lack of "badge".

If everyone would think through where the money eventually ends up, maybe they'd more seriously consider buying a DOMESTIC made vehicle . Your dollars spent on foreign vehicles either go to a country that we've been to war with, or to one that is not friendly with the USA. Just think what our economy would be like if just 50% of the current foreign car owners would come back to AMERICAN MADE vehicles.Not just the car manufacturers would benefit, but all of their suppliers who employ people that drive those vehicles.

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