Thread: What happened with GM? Weren't they doing so well in China?

I do not understand how they might not make it to the end of the year!:
http://money.cnn.com/2008/11/07/news/companies/gm/index.htm?postversion=2008110716

Doing well in China:
http://www.autoblog.com/2008/07/08/gm-ford-doing-well-in-china-despite-slow-sales-at-home/

They just opened another plant near St. Petersburg Russia.
Both Russia and China are now starting to feel the effects of the monetary problems in the rest of the world. So the auto industry will suffer the effects there as well.
GM, Ford, Chrysler and even the foreign co's. are all hurting and if the economy does not improve real soon (6/12 months??) then there will be more mergers and/or bankruptcies and more people out of work.

The Hummer is what did GM in. They built huge factories to churn them out and then the oil crisis struck. They now have to retool all those factories to build the hybrids people want and it's going to cost them lots and lots of bucks at a time when sales are way down.

The Auto Business has tremendous fixed cost. When revenue falls it burns cash like crazy. They have spent a lot on buyouts, restructuring and ever increasing medical costs. The US Government has done absolutely nothing to help the Auto Industry.

The worst thing that happen to GM is the Bush Administration. If they were a bank or oil company, Bush would give them all the money they want!

The Bush Administration doesn't understand the
US is a consumer driven economy, but with everyone losing their jobs, who can buy anything, or pay mortgages? The economy is spiralling out of control. Millions of additional jobs and whole industries are going away and won't come back.

Bush has done what Bin Laden never could do: destroy America!

The union bankrupted them. That's what happens when the people at the top don't run the company anymore, the workers do. Of course the workers want more money, but they don't look at the balance sheets when they are refusing the new contracts.