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Detroit, 10:06 PM
Fri Nov 27
4 posts in the last 24 hours
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11/18/08
By the way, GM only had 30 years to improve they quality since the Japanese came in the 70s. Every year, we hear the same promise of better models next year.
Bankrupcy may be the only solution now so they can renegotiate their contracts.
11/18/08
11/18/08
The reason they would not be able to get DIP(shit) financing is that their business model and strategies are not sound enough to qualify to DIP lenders. I couldn't make this up, go read about it on cnn.com. (I admit, not the most reliable news source, but you works with what ya gots.)
GM has basically said that they would not be able to get financing if they went bankrupt because nobody, looking at their plans, would consider them solid enough or stable enough to lend them any money.
So here's my suggestion. Why don't we let them go bankrupt, and then the Government can provide DIP(shit) financing? Banks normally love DIP(shit) financing for their more aggressive investment arms, because it's a great investment -- even if everything fails, they get absolute first-dibs on proceeds from the liquidation sale -- that usually comes with a high ROI. Failing that, get JPMorganChase to do it (or hell, RBC Royal Bank of Canada, they can afford it easily), and provide loan guarantees. That would cost the taxpayers almost nothing, give GM the benefit of escaping legacy contracts that are killing them, and require them to restructure to a more efficient, aggressive company structure.
But what do I know, I'm only an expert on the Internet. That and a twoonie will get me a coffee at Timmy's.
11/19/08
11/18/08
11/18/08
I'm liking the consistency here. Most people, when speaking of the financiapocalypse, seem only to have negative wishes toward GM and its management, but completely ignore the fact that the banking system and its managers screwed us far worse than the auto industry is capable of. And yet, when it comes to threats of death, incarceration, etc. aimed at bad corporate managers, the bank managers somehow are exempted.
Whatever you may think of this his general outlook, at least he's consistant.
and screamingbluemessiah, can we add the Enron execs to the hanging list too?
11/18/08
P.S. What ever happened with the GM-Chrysler Merger Mashup Photochop Contest that I did up this for?
11/18/08
11/18/08
Where "and more" refers to the Saturn Outlook, right?
11/18/08
Dear General Motors Customer,
GEEZ, What the Hell does a guy have to do around here to make you call Washington? WTF? We sent emails, we called, we made that kick-Ass YouTube video! We even got Kanye West to rap about a Traverse! What do we have to do? Mow your lawn? Paint your freakin house? We're dying over here! Do you know what the cafeteria had a special today? Peanut butter and Jelly! God Damn PB&J! The men's room here on the 23rd floor is outta TP! I had to sneak in napkins I pocketed from the 7-Eleven on Telegraph! I haven't played golf in 2 months!
Do you know what my friggin kids are getting for Christmas??? Socks! Fucking Socks! You're killin me here! Just call your Congressman and tell him to get off his fat ass and give GM some cash already! Please! I'm begging! seriously, I'm on my knees begging! I don't want to work for Suzuki! Please
God Dammit.
Please.
Troy Clarke
11/18/08
Instead of Saturn owners, GM should go after Opel owners for support... Those Euros and Deutsch marks and Pounds Sterling go further than 'Murican greenbacks these days...
11/18/08
11/19/08
So, Rusty, what are your other bodily fluids going for...?
11/18/08
Why the fuck do you need money then. Piss off and sell some freakin cars.
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11/18/08
I hate shit like this.
Ford wouldn't do this. (or at least I hope they wouldn't..)
11/18/08
I thank you sincerely for convincing my girlfriend to buy that L200 back in early 2003. Your "no-pressure" and "fixed price" sales methods, in tandem with family recommendations, led her to believe that you were the maker of the best value vehicles on the road. Even though you asked more than $2,000 above the price of a better-equipped Toyota Camry, she still bought into the touchy-feely elements of your plastic-clad, close-knit clan of owners. Well, that was before you changed all that, but I digress.
Although the vehicle has been reliable, it has not been especially well built, even for its price point. And boy, we sure are lucky we didn't have to sell the car in those first two years. Did you know it was only worth half its sticker price after only two years. Yeah, seriously, pretty crazy, huh?
So I just wanted to drop you a line to let you know that you won't see another dime from us. We came in, we paid full price, we "joined the club," and then you went to Germany because apparently even YOU didn't believe in your own products or even your own customers. But I'll applaud you on the creative use of email here. In fact, I think I'll add you to my mass email forward list...I have some interesting stuff about Obama's secret Muslim life, as well as some lawyer jokes I'd like to forward to you. kthxbye.
-ash
11/18/08
The spelling and grammar was too correct.
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