GM Hides Behind Bankruptcy for Faulty Switches

[hattaresguy]

Correct the old GM like Chrysler no longer exists anymore.

That's how bankruptcy works, I'm very glad we live in a country with a system like this. Failure happens in business and they need to be able to shed their debts and liabilities.


IMHO the ignition switch like that Toyota acceleration thing is over hyped and mostly caused by stupid people. Right now lawyers are having a feeding frenzy.

I actually found new GM to be pretty good about recalls on my last Silverado even though technically it was an old GM product.

 

[Bamaro]

The US economy is much better off with a healthy GM.

 

[Eddie]

I'm of the opinion that we do need our bankruptcy laws. However; I think the CEOs, CFOs and top board directors of failed companies need to be fired, WITHOUT SEVERENCE PACKAGES, before tax payer money and other company losses are realized. Ed

 

[philipp10]

Originally Posted By: dishdude
Originally Posted By: HTSS_TR

Detroit Big-3 complaint about they couldn't sell many vehicles in Japan in 80's and 90's because of protectionist laws. But the reasons were: All vehicles were too big for tiny Japanese streets, terrible gas mileage and left hand steering, also no dealers for service ...

The way Detroit Big-3 did was just dump their vehicles on Japanese port(s) and expect to sell like hot cake.


Why would they invest in designing a vehicle for a market they weren't allowed in?


businesses take those chances EVERY DAY. Its not like had they designed a smaller car for Japan there was no market for it elsewhere....not an excuse.

 

[Silverado12]

Originally Posted By: Cujet
Originally Posted By: bullwinkle
That's what happens when you're "too big to fail"! I used to be a lifetime GM guy, but a few bad experiences & relatives losing a fortune on worthless GM stock fixed that.


I lost all that money on GM stock too. So much for trusting strong American companies for my retirement.

Thank goodness my Ford stock went up in value a touch!


My investment guy told me it's not a good idea to invest in individual stocks for your retirement. I have all managed accounts and they have decent stability.

 

[Silverado12]

Originally Posted By: KGMtech
As pathetic as it is, if the USA legal system will/might accept this position, then GM is obligated to try for it.

I have no compassion to any company that tries to sell defective products, let the market decide their fate after punishment is meted out. In otherwords, keep government out of the marketplace.



That's funny. Who makes the decision whether the product is defective? Who makes the rules of the marketplace? Hint: the courts system is part of the government.

 

[Silverado12]

Originally Posted By: philipp10
Originally Posted By: dishdude
Originally Posted By: HTSS_TR

Detroit Big-3 complaint about they couldn't sell many vehicles in Japan in 80's and 90's because of protectionist laws. But the reasons were: All vehicles were too big for tiny Japanese streets, terrible gas mileage and left hand steering, also no dealers for service ...

The way Detroit Big-3 did was just dump their vehicles on Japanese port(s) and expect to sell like hot cake.


Why would they invest in designing a vehicle for a market they weren't allowed in?


businesses take those chances EVERY DAY. Its not like had they designed a smaller car for Japan there was no market for it elsewhere....not an excuse.


I get it. You hate GM Phil. You don't have to root for the home team. BTW Japan and other countries really do prohibit our products from their markets.

 

[artificialist]

This is what happens when people get paid 70K a year to do that people at quick oil change places can do for a lot less money.

 

[DoubleWasp]

Originally Posted By: shiny
We have the best government that TBTF mega-corporations can buy. The argument always goes that allowing the Big Auto to fail will destroy jobs and hurt the economy. But think about all the innovative, alternative start-up companies trying to get a foothold in the automotive market. They can't break in because of the dominance of Big Auto. Some of them have ideas that could be as revolutionary for transportation as Ford's Model T was to the horse and buggy. But they'll never have a chance when Big Auto is protected from the consequences of their bad decisions.


Historically, most of the startup innovative auto outfits have turned out to be everything from incompetent dreamers to straight up scammers. I frequently stay up with the latest news in development by new companies. I've watched plenty come and go, usually turning out to be their own worst enemy.