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GM's $1.15B loss 3Qtr 2009
and even the pundits are buying the sales pitch; let's compare some numbers income 3qtr 2008 2.5B loss, sales $37B, units 977804 income 3qtr 2009 1.2B loss, sales $27B, units 569448 'structural costs' per qtr 2008 $12.6B 'structural costs' per qtr 2009 $9.86B sales - costs = profit/loss costs = structural costs + 'non'structural costs using these formulae, structural costs are down 22%, but up 34.3% on a per vehicle basis; let's assume they are relatively fixed, and independent of sales volume also, using the same formula, the 'non' structrual costs are up by 25.3% in 2009 on a per vehicle basis; some of these costs are fixed, but most will 'flex' with sales volume so now we can see why GM is so bent on pushing production up by 1MM vehicles in 2010; without that increase in sales, both the structural and 'non'-structural costs will be unfavourable on a per vehicle basis, and GM will run at a loss; only this time, the accounting wizards won't have a convenient place to dump extra costs nor an excuse to explain their poor performance; but just how likely is the scenario that GM will sell those extra 1MM vehicles, or 50% more in 2010, when most industry experts are forecasting a modest 10.4 - 10.8MM market, about 6% higher than 2009???; discount city here we come, to the detriment of all NA vehicle manufacturers and parts suppliers; GM is going to need their reserve of cash to support their operations in NA, not to be buying assets or restructuring companies in other parts of the world, as has been their most recent intentions
370Z? Typical Nissan FUGLY
What are Nissan designers doing? They must have the lights completely out. All of the offerings from this company are so far off base and Ugly that I can't believe any sane person with any bit of taste would consider its products. Line that with dismall quality, and you have a car company living on payments to media scribes for favorable ratings. The author of this puff piece must of got a weekend of the Four Seasons for this pile of Bulls&%T.
The New Opel Corsa
FHS1...
Wow!!! The questions you pose, even though interesting, would take more page space than would be reasonable for this forum...we have some posters who already take up way too much room with their lengthy diatribes.
As to development and start up costs, first and second "iterations"....we have some corporate sharp pencil boys out there that could probably write tax savvy profit/loss volumes on that but we have to always remember "figures lie and liers figure".
As to the risks of low customer acceptance.... GM is about to market the Volt that analysts say is priced too high for market success while GM is already forcasting that it will lose money on each one sold. Wonder how the sharp pencil boys will show that one on the books.
As to "Did Chrysler get a similar restriction prohibiting import of "small fuel efficient" vehicles?" I'm not aware of any such Chrysler/UAW agreement but Chryslers bankruptcy rulings are different than GM/UAW and I'm sure Fiat must have had some input regarding their import plans.
Finally....what is a "small fuel efficient car"??? Who knows anymore....depends on the politics of the day. Why are some SUVs classified as Trucks to circumvent CAFE and emmisions requirements? Why is a Smart Car not classified as a street legal golf cart???
GM to shrink Opel 25%
AMAZING HOLES
These holes are not only amazing, but some are really terrifying! The sheer scale of these holes reminds you of just how tiny we are.
Kimberley Big Hole - South Africa
Apparently the largest ever hand-dug excavation in the world,
this 1097 meter deep mine yielded over 3 tons of diamonds
Before being closed
Glory Hole - Monticello Dam, California
A glory hole is used when a dam is at full capacity
and water needs to be drained from the reservoir.
It is the largest spillway of this type in the world.
It consumes 14,400 cubic feet of water every second.
Great Blue Hole , Belize
This incredible geographical phenomenon known as a
blue hole is situated 60 miles off the mainland of Belize .
There are numerous blue holes around the world,
but none as stunning as this one.
Sinkhole in Guatemala
These photos are of a sinkhole that occurred early this year in Guatemala .
The hole swallowed 2 dozen homes and killed at least 3 people.
RAT HOLE in Washington D.C.
It is capable of swallowing trillions and trillions of U.S. Dollars-annually!
The money that falls into this hole is never heard from again!
It is reputed to be filled with at least 535 azz 'holes'.
GM to shrink Opel 25%
now some details of GM's plans are coming to the surface; in its heyday, Opel was producing 2.5MM vehicles per year, with a capacity of just under 3MM; 25% of 3MM = 750,000; if the plants are setup the same as in NA, each shift represents ~ 100,000 vehicles per assembly line, so this reduction would equate to 7 - 8 shifts of production, or 20% of the assembly work force; with production spread among several European countries, and with model-specific plants, and with profitability requiring plant utilizations > 70%, wonder which Opel models are on the chopping block??; the regional production, and vehicle preferences will make this decision complicated as nationalistic fervor runs much higher in Europe; kill Vauxhall and lose sales in Great Britain, for example; GM may be forced, as was Magna, to compromise and maintain production in plants well below their level of profitability, and hope that sales will increase enough, fast enough to reduce the drain on GM's coffers, I mean the NA taxpayers' money; where have I heard that story before??? - oh, yeah, sounds a lot like GM's plans to increase production of vehicles in NA in 2010 by 1MM vehicles over 2009, so they can meet their target of profitablilty as sold to the US Treasury; sounds like the same 'old GM' as before - "if we build it, they will buy it"
OBAMA HEALTH CARE
If Obama's health care program becomes law You will see more industries moving to Mexico and other countries.
Under the program if a company does not give health benefits then they will be given a hefty fine.
I also like the part where if a person does not have health care they can be jailed. I was just wondering who was going to pay for their health care lodging and food while they were in jail. DUH!
GM to shrink Opel 25%
now some details of GM's plans are coming to the surface; in its heyday, Opel was producing 2.5MM vehicles per year, with a capacity of just under 3MM; 25% of 3MM = 750,000; if the plants are setup the same as in NA, each shift represents ~ 100,000 vehicles per assembly line, so this reduction would equate to 7 - 8 shifts of production, or 20% of the assembly work force; with production spread among several European countries, and with model-specific plants, and with profitability requiring plant utilizations > 70%, wonder which Opel models are on the chopping block??; the regional production, and vehicle preferences will make this decision complicated as nationalistic fervor runs much higher in Europe; kill Vauxhall and lose sales in Great Britain, for example; GM may be forced, as was Magna, to compromise and maintain production in plants well below their level of profitability, and hope that sales will increase enough, fast enough to reduce the drain on GM's coffers, I mean the NA taxpayers' money; where have I heard that story before??? - oh, yeah, sounds a lot like GM's plans to increase production of vehicles in NA in 2010 by 1MM vehicles over 2009, so they can meet their target of profitablilty as sold to the US Treasury; sounds like the same 'old GM' as before - "if we build it, they will buy it"
.GM creditors may recover some lost funds
Unsecured creditors who lost billions when General Motors Corp. filed bankruptcy last summer could get a rare windfall Tuesday if a judge approves a nearly $1.9 million settlement.
The list totals billions of dollars. I just wonder how many pennies we will get per dollar?
.GM creditors may recover some lost funds
Here is a list of bondholders that OBAMA and GM screwed the investors out of:
**Issue Name CUSIP# Outstanding Indenture Date Closed Date
GM Corp 9.40% Debs due 7/15/2021 370442AN5 $299,795,000.00 11/15/1990 7/22/1991
GM Corp 8.80% Notes due 3/1/2021 370442AJ4 $524,795,000.00 11/15/1990 3/12/1991
GM Corp 7.40% Debs due 9/1/2025 370442AR6 $500,000,000.00 11/15/1990 9/11/1995
GM Corp Medium Term Notes AG3 37045EAG3 $15,000,000.00 11/15/1990 7/22/1991
GM Corp Medium Term Notes AS7 37045EAS7 $48,175,000.00 11/15/1990 12/21/1990
GM Corp 7.75% Disc Debs due 3/15/2036 370442AT2 $377,377,000.00 12/7/1995
3/20/1996
GM Corp 7.70% Debs due 4/15/2016 370442AU9 $500,000,000.00 12/7/1995 4/15/1996
GM Corp 8.10% Debs due 6/15/2024 370442AV7 $400,000,000.00 12/7/1995 6/10/1996
GM Corp 6 3/4 Debs due 5/1/2028 370442AZ8 $600,000,000.00 12/7/1995 4/29/1998
GM Corp 7.20% Notes due 1/15/2011 370442BB0 $1,500,000,000.00 12/7/1995
1/11/2001
GM Corp 7.25% Q Int Bnds due 4/15/2041 370442816 $575,000,000.00 12/7/1995
4/30/2001
GM Corp 7 1/4 Sr Notes due 7/15/2041 370442774 $718,750,000.00 12/7/1995
7/9/2001
GM Corp 7.375% Sr Notes due 10/1/2051 370442766 $690,000,000.00 12/7/1995
10/3/2001
GM Corp 7.25% Sr Notes due 2/15/2052 370442758 $875,000,000.00 12/7/1995
2/14/2002
GM Corp 4.50% Series A Conv Sr Debs 370442741 $1,150,000,000.00 12/7/1995
3/6/2002
GM Corp 5.25% Series B Conv Sr Debs 370442733 $2,600,000,000.00 12/7/1995
3/6/2002
GM Corp 7.375% Sr Notes due 5/15/2048 370442725 $1,115,000,000.00 12/7/1995
5/19/2003
GM Corp 7.375% Sr Notes due 5/23/2048 370442BQ7 $425,000,000.00 12/7/1995
5/23/2003
GM Corp 8.375% Sr Debs due 7/15/2033 370442BT1 $3,000,000,000.00 12/7/1995
7/3/2003
GM Corp 6.250% Series C Conv Sr Debs 370442717 $4,300,000,000.00 12/7/1995
7/2/2003
GM Corp 8.25% Sr Debs due 7/15/2023 370442BW4 $1,250,000,000.00 12/7/1995
7/3/2003
GM Corp 7.125% Sr Notes due 7/15/2013 370442BS3 $1,000,000,000.00 12/7/1995
7/3/2003
GM Corp 7.50% Sr Notes due 7/1/2044 370442121 $720,000,000.00 12/7/1995
6/30/2004
GM Corp 1.50% Series D Conv Sr Debs 370442691 $1,500,000,000.00 12/7/1995
5/31/2007
.GM creditors may recover some lost funds
May is the word to watch.
The New Opel Corsa -Fhs1 - GMzip
GMZIP says,"Comparing what is now, or what has been in the past with what is to be in the future is misleading.....Current Saturn importations are a mute point since they are going away." ........... It is now a "mute point" with you since you were PROVEN WRONG regarding your statement " Per UAW restrictions imposed on GM by their 18% ownership of GM the importation of such a vehicle into the USA would be prohibited." ... (This was from March 29, 2005 - Labor boss urges GM to sell Opels in U.S. - - Reuters / March 29, 2005 - - Source: Automotive News)
GMZIP says,"As part of the bankruptcy agreement that gave the UAW an 18% ownership in GM in exchange for federal funding of the UAW VEBA, GM ageeed to build all FUTURE small fuel efficient vehicles in the USA at UAW assembly plants and NOT import such vehicles, thereby protecting UAW jobs....That is why the Chevy Cruz will be assembled at the Lake Orion, Michigan facility and not be an import." .........
Fhs1 responds by saying,"IF that is true then you and the union need to quickly figure out how to define what "small fuel efficient vehicles" are and learn how to build them in the US profitably ... VERY VERY soon!
BTW is a Cruze by definition a "small vehicle" or is it just fuel inefficient?" .............
The key words for GMzip is "IF that is true" regarding GM bankruptcy- UAW - Chevy Cruze. Lets look at some facts that I will back up with Sources. MONDAY, JUNE 1, 2009 -
WASHINGTON - General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration's plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. ... â†'
GM officially announces Chevy Cruze will be built in Ohio
by Sam Abuelsamid (RSS feed) on AUGUST 21st 2008 at 5:26PM-
At a press conference in Lordstown, OH this afternoon, GM CEO Rick Wagoner officially announced that the Chevrolet Cruze would be built at the plant alongside the existing Cobalt. Wagoner alluded to this in June during the company's annual meeting. GM will invest $350 million in the Lordstown plant to tool up for production of the new compact sedan that will also spawn numerous other small cars. An additional $150 million will also be spent launching the Cruze including a new line to build the 1.4L turbo four cylinder engine in Flint MI. Cruzes will also be built in Europe and Asia for sale in those regions. It's expected that the Cruze with the new engine and 6-speed automatic transmission could achieve as much as 40 mpg on the highway.
The investment in Lordstown is one of several that have been announced at U.S. plants in the past five years, adding up to over $2 billion total investment in Ohio and more than $20 billion in the United States. "One of the key reasons for the success of the Chevrolet Cobalt and Pontiac G5 is the Lordstown workforce and the strong partnerships with the UAW and local and state officials," Wagoner said. "Based on the quality of work and these strong partnerships, we are pleased to announce our plans to invest another $500 million in the Chevy Cruze product program in the U.S., including more than $350 million in Lordstown." ..... Fhs1..as you can see GMzip has been PROVEN WRONG once again!! With GMzip..as you said Fhs1 - "IF that is true" ........... The Chevy Cruze was announced to be built in Ohio on AUGUST 21st 2008 - nearly a FULL YEAR Before General Motors filed for Chapter 11 bankruptcy on MONDAY, JUNE 1, 2009. The timeline does NOT Lie!!!!!!!!!!!!
Sources:
http://www.msnbc.msn.com/id/31030038/ ..... http://green.autoblog.com/2008/08/21/gm-officially-announces-chevy-cruze-to-be-built-in-ohio/
Government goal was to replace Chrysler mgt.
In response to jnm who states that it is not the government's business to run Chrysler -- you are correct EXCEPT when Chrysler (or GM for that matter) takes billions of dollars from the government. If a company borrows billions from a bank, the bank can make certain demands for changes. In Chrysler and GM's case, they were in such bad shape that no bank in the entire world would loan them money -- therefore the government, at the company's request, bailed them out with my tax dollars. Under those circumstances, the government absolutely, 100% has the ability to fire managers and run the business, cause they have the money! Just a bit of an economics lesson.
Moral of the story, if you don't want the government to run your business, run it properly so that it doesn't fail. It's really pretty simple...................
People who signed up on Nissan's website.
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geek49203 said:
"..And, I'll ponder most of that while driving a 50 mpg diesel that can burn pretty much anything as I drive it for 400,000 miles (500 miles before I need to stop for fuel)."
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Here is an imflamatory statement.
All else being equal, diesel fuel prices could be slightly more than TWICE (2.3X more precisely) the price of gasoline before the AVERAGE (21 mpg) Detroit vehicle could save more fuel DOLLARS than your 50 mpg diesel.
Of course we have to adjust that thinking to account for the cost premium for the purchase the diesel vehicle compared to a comparable gasoline vehicle.
Still, that is impressive ....
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One HOT FUN CAR
you got that right! lets see if they have the brains to build a car people will stand in line to buy, not stand in line to get repaired! lol..how hard would it be to build a mid-size rear drive coupe/sedan with a V8 and a six speed auto? in todays world with direct injection, you could still have 400hp and get 30mpg! why do they not do this? oh, and the other thing, it cant be priced at $65,000....more like $25,000..if they want the masses to buy it! are you listening..GM, Ford?????
no, they are not..that is one of the reasons the big 3 are in such trouble!
Honda efficiency
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JoeAmerican states:
"Compare mileage of similar vehicles. Don't compare car/truck companies to car companies. Our Government CAFE measure is very poor for comparisons."
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Just in case you are interested in more precise comparisons, NHTSA posts comparisons of "passenger vehicles, foreign and domestic" separately (without trucks) in a database accessable from their website.
If I remember correctly, the CAFE values for "domestics" were still about 10% below "foreign" passenger vehicles. And that is even AFTER including about 1.2 mpg "CREDIT" for things like FlexFuel.
BTW, I am very glad your Focus is getting 40 to 42 MPG Hwy (averaging over 75 MPH) and this goes up to 45-48 mpg when driving 55 to 65 MPH. Your average is just a little below the guy in Kentucky that is getting 44.2 mpg average with 90% highway with his 2009 Focus. I guess hyper-miling does work!
Just the way it is ...
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