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In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 12:26 PM
The whole point of the restructuring was to downsize GM, so they could be profitable at much lower volumes. There are absolutely no facts anywhere to support the story that GM is going bankrupt again. All this is just election season rhetoric and wishful thinking.
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 12:24 PM
You don't remember correctly. GM was #1 in sales last year. They were #3 in profits, but they did make more money last year than they ever had in their 104-year history. That's the reason I find these articles that they are going bankrupt again so hilarious. I know it’s election season and I know that Obama is using the auto bailouts as a cornerstone of his re-election campaign, but that doesn’t give our side free reign to make up things that have absolutely no basis in fact. All this does is make us look stupid. Yes, Toyota has been on the ropes, and yes, they are getting their footing back, and yes, they will get the sales crown back this year. But none of this is going to drive GM back into bankruptcy.
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 2:30 AM
Now you want to try to insult me by insinuating that I’m a Liberal- Democrat Obama lover. I made that post for one simple reason, that piece about GM going bankrupt is B.S. and I hate B. S. I hate liberal B.S., but I really hate conservative B.S. I expect better from the right. When I catch my side pulling the same tricks that the liberals use I get upset and I call them on it. The reason that I’m telling you that GM is not headed for bankruptcy anytime soon is really very simple. THEY’RE NOT!
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 2:07 AM
Now, you want to talk about market share. Your argument is that GM had 48% market share in the 60s and they have 18% market share now. All very true, but also very flawed. The American automobile market was a very different place in the 60s. Just 20 years earlier we had bombed GM's main Asian and European competitors to oblivion. By the 60s these companies were just beginning to get strong enough to start exporting cars to the U.S. GM only really had one real competitor and a few minor one’s. Fast forward to today, they have dozens of competitors and almost all of them are strong. Nobody’s ever going to have 48% market share again.
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 2:02 AM
Their stock price is down because they do business in Europe and the European economy is in recession. Their European operations are bleeding cash, but so is everybody else’s. If you compare GM to Ford, GM’s market share is down, but so is Ford’s. GM’s profits were down 41% last quarter, but Ford’s were down 58%. GM’s stock closed at 21.33 on Thursday, up 6% on the day. Ford’s closed at 9.59, up 1% for the day. I don’t see anyone doing pieces that say that Ford is headed for bankruptcy. I’m not picking on Ford. I admire what they’ve been able to do. I’m just using them for comparison because they seem to be everybody’s example of how to do it right.
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 1:58 AM
Besides if having 18% market share makes you go bankrupt, then they’re all going bankrupt, because everybody else has less. The old GM used to be criticized for going after market share at the expense of profits. The new GM is doing exactly the opposite and now they’re being criticized for that. GM was forced to give up four of their eight American brands in restructuring, representing about 20% of their volume. I’d say that after giving up 50% of their brands representing 20% of their volume, the fact that they’ve only lost 2-3% market share is an outstanding achievement.
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 1:53 AM
Now, you want to talk about market share. Your argument is that GM had 48% market share in the 60s and they have 18% market share now. All very true, but also very flawed. The American automobile market was a very different place in the 60s. Just 20 years earlier we had bombed GM's main Asian and European competitors to oblivion. By the 60s these companies were just beginning to get strong enough to start exporting cars to the U.S. GM only really had one real competitor and a few minor one’s. Fast forward to today, they have dozens of competitors and almost all of them are strong. Nobody’s ever going to have 48% market share again.
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 19, 2012 1:25 AM
Give me a break! Since when does stating a simple fact make you a Liberal-Democrat-Obama lover? Besides, it was George Bush who went around a Democrat controlled congress to give GM and Chrysler their initial bailouts. It was pretty much a done deal before Obama took office. If you don’t believe me, read page 468 in George Bush’s book Decision Points. And yes I have the book and I have read it!
In response to:

GM to Go Bankrupt Again?

Rocky1974 Wrote: Aug 18, 2012 12:40 PM
What a bunch of B.S.! GM will not be going bankrupt again anytime in the foreseeable future! And no, I'm not a liberal, I'm not a Democrat, and I don't work for GM. I'm just a gear head who likes cars, follows the auto industry, and pays attention. There are two very important reasons that GM won’t be going bankrupt again anytime soon. Number one: They’re profitable. Number two: They have a very strong balance sheet. I know, the naysayers will say that they’re profitable because they got their debts wiped out in bankruptcy and the bailout is how they got a strong balance sheet. All this is true, but it still doesn’t change the fact that profitable companies with strong balance sheets don’t file for bankruptcy.
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