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Old 07-11-2009, 08:39 AM   #1
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Default The "New" GM Emerges from Bankruptcy

A new story entry has been added:

The "New" GM Emerges from Bankruptcy

Quote:
The new General Motors Company began operations yesterday with a new corporate structure, a stronger balance sheet, and a renewed commitment to make the customer the center of everything the new GM does. "Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers," said Fritz Henderson, president and CEO.

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Old 07-11-2009, 10:54 AM   #2
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Dizzy Re: The "New" GM Emerges from Bankruptcy

Old Habits Die Hard: The New GM reminds me of the classic song by THE WHO - We Won't Get Fooled Again - I keep hearing the line "Meet the new boss, same as the old boss". By the way, at the "New GM" will the suggestion box still be above the trash can? Who knows, maybe in the next ten years Penske will be buying what's left of the "New GM".

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Old 07-11-2009, 11:07 AM   #3
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Default Re: The "New" GM Emerges from Bankruptcy

Yep, put a monkey in a suit or slap some lip stick on a pig. What's underneath and all the underlying problems still exist.

I had little faith in GM before they took 50 billion in tax payer money, so I have zero faith now.

What's the difference in declaring bankruptcy now after blowing another 50 billion vs declaring bankruptcy a few months back? Oh yeah - the UAW and GM execs still got paid for those months. What else happened? Nothing.

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Old 07-11-2009, 11:29 AM   #4
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Default Re: The "New" GM Emerges from Bankruptcy

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Yep, put a monkey in a suit or slap some lip stick on a pig.
So, you must have read that Lutz is staying on then? LOL

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Old 07-11-2009, 11:46 AM   #5
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Default Re: The "New" GM Emerges from Bankruptcy

Nothing will change, basically the same people are still in charge...

I heard the GM logo will be changed from blue to green... To show they are committed to environmentally friendly cars...


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Old 07-11-2009, 12:01 PM   #6
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Default Re: The "New" GM Emerges from Bankruptcy

"The new General Motors Company began operations yesterday with a new corporate structure, a stronger balance sheet"
Thanks to the U.S. taxpayers. SUCKERS!
Or the turbo-charged federal printing press.

"and a renewed commitment to make the customer the center of everything the new GM does."
As opposed to what?

"Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers,"
As opposed to what? Selling mediocre cars and trucks and ignoring the needs of our customers?

I wonder what color the 2009 Yarii will be.

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Old 07-11-2009, 12:03 PM   #7
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Default Re: The "New" GM Emerges from Bankruptcy

I'd like to think that the "new GM" is going to be better than the "old GM". However, it is very difficult to believe that much of ANYTHING is going to be different. My dad has worked for GM since 1976 and he has watched the whole company go down the toilet. GM's entire problem is their management, the people who are in charge of the whole company probably couldn't even manage a damn McDonald's if they tried. THEY are the ones losing the company BILLIONS of dollars and yet at the end of the day they give themselves a pat on the back and a hefty salary increase. Then when the crap hits the fan they start laying people off and closing plants or using idiotic ideas to "reduce costs". At my dads plant they actually hired a company to come in and evaluate what needed to be changed to save money. The company said "You have too many office chairs and computers and not enough people to use them". So what does GM do? They figured they would cut costs, so all of the extra chairs and computers landed in the dumpster. How in the hell does that save ANYONE ANY MONEY??? The whole upper management and executives are bringing the company down, so it's nice to see that PRACTICALLY NONE of them have lost their jobs but now countless workers, many plants, and the cities they are located in have had to suffer the consequences of their poor judgment.

My $0.02

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Old 07-11-2009, 01:31 PM   #8
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Default Re: The "New" GM Emerges from Bankruptcy

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Originally Posted by BobbyP View Post
Nothing will change, basically the same people are still in charge...

I heard the GM logo will be changed from blue to green... To show they are committed to environmentally friendly cars...

Please don't take this the wrong way because that's not how I mean it, but that is such a MS Paint/Photoshop job it's not funny. I'd hope GM's logo change is far more substantive than a simple change in color. If that's the case, spend the money on something more beneficial to the vehicle's safety or performance.


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Old 07-13-2009, 08:42 AM   #9
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Thumbs Down Re: The "New" GM Emerges from Bankruptcy

As I mentioned in another thread, similar, but on a different subject:

The "New GM" is the Joke

The American car buying public is the punchline.

If anyone is seriously buying this whole "We'll be there for the customer...the customer is our #1 priority" BS..well you have some seriously thick Wool pulled over your eyes, and the Wolf is hiding right behind that tree over there.

The "New GM" is the same "Old GM"...when you have the same s working for you AND calling an almost RETIRED Exec out of retirement (Namely Bob Lutz)...well, it's as if the GM board has said, "We'll tell the public that it is the "New GM" (and give you all this fancy glitter)....in the end; it's all the same.

If we as the TAXPAYERS...."OWN" GM? Where is my share and everyone else's of GM...is GM going to give me stock that is WORTH something?

I'm tired of "Lip Service and Hot Air"...then again; it seems that ol' Fritzy boy and the rest of the GM gang... it seems that this is all they are good at...

Lip Service, Hot Air, and a lot of thick wool.

One of the stipulations of the "Emergence" from Bankruptcy for GM should have been that the GM Board should have been reappointed, including Henderson...I don't care that he "Took Over" for Wagoner. Get the Old Hat Tricks out of there!

As previously mentioned in this thread...it's time for the American car buying public to take a stand:

"WE WON'T GET FOOLED AGAIN! "


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Old 07-13-2009, 08:43 AM   #10
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Default Re: The "New" GM Emerges from Bankruptcy

Quote:
Originally Posted by Col.FUBAR View Post
I'd like to think that the "new GM" is going to be better than the "old GM". However, it is very difficult to believe that much of ANYTHING is going to be different. My dad has worked for GM since 1976 and he has watched the whole company go down the toilet. GM's entire problem is their management, the people who are in charge of the whole company probably couldn't even manage a damn McDonald's if they tried. THEY are the ones losing the company BILLIONS of dollars and yet at the end of the day they give themselves a pat on the back and a hefty salary increase. Then when the crap hits the fan they start laying people off and closing plants or using idiotic ideas to "reduce costs". At my dads plant they actually hired a company to come in and evaluate what needed to be changed to save money. The company said "You have too many office chairs and computers and not enough people to use them". So what does GM do? They figured they would cut costs, so all of the extra chairs and computers landed in the dumpster. How in the hell does that save ANYONE ANY MONEY??? The whole upper management and executives are bringing the company down, so it's nice to see that PRACTICALLY NONE of them have lost their jobs but now countless workers, many plants, and the cities they are located in have had to suffer the consequences of their poor judgment.

My $0.02
Middle management, where all good ideas/innovation is squashed, is being seriously cut down. 20% of white-collar jobs are being cut by October, and 35% at the executive level are being shown the door. How does that amount to "practically none?" The UAW picked its poison. They'd rather collect full pay and benefits than keep jobs (what's that about solidarity?). Meanwhile, the non-unionized folk took pay/benefit cuts and (mostly) kept their jobs... until now. Many of those billions that were "lost" went straight to your (and my) dad's paycheck, healthcare/benefits, and pension.

And I have a feeling your cost-cutting story is more hyperbole than fact. Worn-out chairs may have been tossed out, but usable ones would have been sold or redistributed. Computers contain hazardous materials and need to be recycled. GM would be in deep doo-doo if they just dumped them.

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Old 07-13-2009, 08:59 AM   #11
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Default Re: The "New" GM Emerges from Bankruptcy

Quote:
Originally Posted by 2NDSOUT View Post
As I mentioned in another thread, similar, but on a different subject:

The "New GM" is the Joke

The American car buying public is the punchline.

If anyone is seriously buying this whole "We'll be there for the customer...the customer is our #1 priority" BS..well you have some seriously thick Wool pulled over your eyes, and the Wolf is hiding right behind that tree over there.
Have a look at the balance sheet. The "New GM" is nothing like the "Old GM." The fat is being cut and the operations streamlined. Henderson is essentially taking a page from Ford's playbook when Mulally took over. Everything has a sense of urgency behind it.

Quote:
Originally Posted by 2NDSOUT View Post
The "New GM" is the same "Old GM"...when you have the same s working for you AND calling an almost RETIRED Exec out of retirement (Namely Bob Lutz)...well, it's as if the GM board has said, "We'll tell the public that it is the "New GM" (and give you all this fancy glitter)....in the end; it's all the same.
Lutz led the product renaissance at GM. As (supposed) fans, we don't want him to retire. He's also taking over some of the marketing side too. Good taste in cars should (hopefully) give him good taste in commercials/marketing.

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Originally Posted by 2NDSOUT View Post
If we as the TAXPAYERS...."OWN" GM? Where is my share and everyone else's of GM...is GM going to give me stock that is WORTH something?
Taxpayers don't "own" GM, the U.S. Treasury does, along with the UAW VEBA trust, Canada/Ontario, and Old GM. There's an IPO coming in the next year or two. The "taxpayers" will be paid back in 2015 or before, depending on when the Treasury sells their share.

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One of the stipulations of the "Emergence" from Bankruptcy for GM should have been that the GM Board should have been reappointed, including Henderson...I don't care that he "Took Over" for Wagoner. Get the Old Hat Tricks out of there!
General Motors Company will have a new board. Actually, most of the old board at Liquidation Motors has already stepped down, so there's absolutely no chance that the previous BoD will remain intact.

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Old 07-13-2009, 06:29 PM   #12
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Default Re: The "New" GM Emerges from Bankruptcy

Since General Motors is now a shadow of its former self can we now say GM stands for Gelding Motors?

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Old 07-13-2009, 08:19 PM   #13
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Default Re: The "New" GM Emerges from Bankruptcy

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Since General Motors is now a shadow of its former self can we now say GM stands for Gelding Motors?
maybe that's where the new Camaro target marketing fits in?

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Old 07-13-2009, 09:08 PM   #14
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Default Re: The "New" GM Emerges from Bankruptcy

At least GM's green background color will keep reminding us where our MONEY went.

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Old 07-13-2009, 09:09 PM   #15
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Default Re: The "New" GM Emerges from Bankruptcy

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Taxpayers don't "own" GM, the U.S. Treasury does, along with the UAW VEBA trust, Canada/Ontario, and Old GM. There's an IPO coming in the next year or two. The "taxpayers" will be paid back in 2015 or before, depending on when the Treasury sells their share.
That is right. I am tired of hearing the anti GM whiners out their that claim that we, the people, own GM. We don't own sqaut in GM, and won't

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Old 07-14-2009, 10:10 AM   #16
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Default Re: The "New" GM Emerges from Bankruptcy

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Have a look at the balance sheet. The "New GM" is nothing like the "Old GM." The fat is being cut and the operations streamlined. Henderson is essentially taking a page from Ford's playbook when Mulally took over. Everything has a sense of urgency behind it.

Lutz led the product renaissance at GM. As (supposed) fans, we don't want him to retire. He's also taking over some of the marketing side too. Good taste in cars should (hopefully) give him good taste in commercials/marketing.

Taxpayers don't "own" GM, the U.S. Treasury does, along with the UAW VEBA trust, Canada/Ontario, and Old GM. There's an IPO coming in the next year or two. The "taxpayers" will be paid back in 2015 or before, depending on when the Treasury sells their share.

General Motors Company will have a new board. Actually, most of the old board at Liquidation Motors has already stepped down, so there's absolutely no chance that the previous BoD will remain intact.
While I understand your points...take a look at the history of Saturn as it relates to Wagoner, Henderson, and Lutz...NONE of them EVER liked Saturn from the get-go and once Roger Smith was out of the picture, they successfully did everything in their power at the helm of GM to starve Saturn and make sure that Saturn became what it has now become...an entitety that could be cut off/sold off/cloned of over GM divisions because they never wanted Saturn to succeed. Look up the history on this and you will see what I am talking about.

Granted I am not in the market for a new car; I'll continue to find older S-Series saturns to drive ANYDAY before I plunk ANY type of money down on the spaceship laden interiors that are out nowadays.

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Old 07-14-2009, 10:59 AM   #17
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Default Re: The "New" GM Emerges from Bankruptcy

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While I understand your points...take a look at the history of Saturn as it relates to Wagoner, Henderson, and Lutz...NONE of them EVER liked Saturn from the get-go and once Roger Smith was out of the picture, they successfully did everything in their power at the helm of GM to starve Saturn and make sure that Saturn became what it has now become...an entitety that could be cut off/sold off/cloned of over GM divisions because they never wanted Saturn to succeed. Look up the history on this and you will see what I am talking about.
Lutz was very enthusiastic about Saturn. You'll notice the particular attention paid to its models as compared to Chevy/Pontiac. And if you look at the actual history, Smith jumped ship shortly after Saturn's launch in 1990, Wagoner didn't take the helm until a decade later in 2000, Lutz didn't join the party until 2001, and Henderson didn't have domestic market duties until 2006. The "cut off/sold off/cloned" stuff was to cut cost and stem losses, not a particular disdain for a particular brand. That disdain comes from the heads of other brands (namely, Chevy and Cadillac), who wanted more R&D money. I think your beef should be with Stempel and (John) Smith, who preceeded Wagoner in the top spot.

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