With All Due Respect, “GM’s Fritzy IS DITZY!”
Only watch this press conference if you have a strong stomach!
Today GM announced their revised revision of their revised revision Viability, (or the lack there of) Plan with the Federal Government. By now many have herd Pontiac has been added to the scrap pile of Franchised Dealers Dreams following Hummer and Saturn.
Naturally they want to cut a lot more jobs, 21,000, and close more plants, have fewer franchised dealers going from 6,246 to 3,605. I almost couldn’t stomach listening to another cut or slash. Reduce debt, sounds good, but the way to do it is to have bond holders take pennies on the dollar. The ultimate lose, lose, lose, lose, lose scenario. Employees lose, dealers lose, bond holders lose, suppliers lose, (with plant closings), and ultimately the American people lose with reduced tax income from the lost plants, sales, jobs, and local city taxes from small town dealers etc. Not to mention what happens if it fails. And in my view it most certainly will fail, if someone doesn’t explain to Mr. Henderson that you can’t cut your way to a profit.
I can assure you, Mr. Henderson if you fire every employee and remove all the brands and get the bond holders to take nothing for their money. Then you will stop the bleeding, GM won’t lose money. But in order to make money, put people back to work, open plants and pay taxes someone has to sell something and I saw nothing in your plan that spoke to the core problem. Product….Product….Product! GM has to build something Americans can afford to buy.
Not that I want GMC to go away, but to keep that division that is just a higher priced Chevy speaks volumes on what put you, “bean counters” there to begin with.
What will put Americans back to work and save GM will not be a great cost cutting strategy, UAW deal, or balance sheet adjustment. It’s great cars at affordable prices that built Detroit and only that will save them….Please pray with me that God will open someone’s eyes in Detroit before it is truly too late…..
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3 Comments on “With All Due Respect, “GM’s Fritzy IS DITZY!””
The Parable of the PONTIAC: As a former owner of a brand new 1967 Pontiac GTO, 360 HP, 4 Speed, with a 4 barrel “Quadrajet” carb, I note with sadness the recent announcement by GM to discontinue this once proud muscle car brand. But like all things man-made, it too was destined to one day come to an end. But when we accept Christ as our Lord and Savior, old things pass away; the new has come (2 Corinthians 5:17). So put your destiny in the hands of something permanent and live the parable of the acronym PONTIAC: Put – On – Newness – That – Is – Authentic: “Christ”
I grew up in Michigan and have many friends that will be out of work because of the decision that GMC has made. The economy is already bad enough there, this will only make it worse.
My problem is that I bought a 2005 Saturn L300 last year and recently found out from my mechanic that it is a SAAB. The whole car was made by SAAB and the Saturn name was put on it. My concern is what do I due when I need repairs? Do I look for the Saturn parts or do I have to find a SAAB dealership. The salesman and sales manager never told me that the car was a SAAB, I thought I was buying an American vehicle. Can you please give me some advice on this? I know that I have to have the timing belt changed at 100K miles and want to be prepared. Thanks a bunch!
My understanding was that the L series is was based on an Opel but the plant itself was Wilmington, Delaware
So I really don’t know what they are talking about??? sorry Connie,
This link shows that as well…But I would say there will be plenty of good mechs avail….I would call Saturn and ask them to help…they have always been great to work with, I’m sure they have an exit strategy for their owners
http://en.wikipedia.org/wiki/Saturn_L-Series