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pat addis
04-16-2010, 08:36 AM
is it time to sell goverment motors? i don't think we should have bailed them out in the first place but that is for another time. we should sell it to the uaw and let them see how well they do after all it would go with obama's share the wealth.at the very least the uaw should be barred from contributing to politcal partys. at the very least it would seem like pay back to the democrats for keeping thier jobs

dnf777
04-16-2010, 08:59 AM
is it time to sell goverment motors? i don't think we should have bailed them out in the first place but that is for another time. we should sell it to the uaw and let them see how well they do after all it would go with obama's share the wealth.at the very least the uaw should be barred from contributing to politcal partys. at the very least it would seem like pay back to the democrats for keeping thier jobs

I'm not so sure. Toyota has its issues right now, more every day it seems.
The ford F-250 just made the worst vehicle list.
Maybe GM should limit production to the Corvette and trucks??

luvmylabs23139
04-16-2010, 10:32 AM
Just wait. The time is coming when we will all have a "choice" between buying the vehicle we want at an extreme price or buying a gooberment motors vehicle for 1/2 the price.
Gooberment motors will only make vehicles that we don't want but will have to buy due to the price differences.

Blackstone
04-16-2010, 05:00 PM
GM has already paid back $2.4 billion and plans to pay back the remainder of the government loan by the end of June. They also plan to buy out as much of the governmentís equity position as possible with proceeds from an IPO by the end of the year. There were a lot of people critical of the Fed investment and loan, but it saved thousands of GM jobs (union & non-union alike), and probably hundreds of jobs and businesses of downstream vendors & suppliers. Like it or not, the economy would have been in a lot worse shape without it.

Choose to believe it or not, but GM is making quality vehicles. Impala, even though it is getting a little long in the tooth with itís current design, is almost a trouble free vehicle. I have fleet customers I have sold thousands to over the last few year, and they donít have any problems with them. After itís release for the 2008 model year, Malibu was named the best mid-size car built. After the redesign of Chevy full size trucks for the 2007 model year, they have had no significant problems or recalls. Cadillac CTS & Buick LaCrosse have similar quality performance ratings and no recalls. In fact, almost all models introduced since 2007 have this level of quality. For 2011, Chevy will introduce the Cruz, a car that will be larger than Cobalt, but slightly smaller than Mailbu. Cruz will get about 40 mpg. So, GM doesnít just need to stick to building trucks and Corvette. They are building good vehicles.

luvmylabs23139
04-16-2010, 05:03 PM
Recall on Cobalt. Power steering failure!

Blackstone
04-16-2010, 07:49 PM
Recall on Cobalt. Power steering failure!

Yes, but it was not a major problem. It happened in less than 1% of the Cobalts built since 2003. Cobalt is an old design and old technology. In fact, this is the last year it will be built. All vehicle manufacturers have some problems, and all of them issue recalls. Nissan just recalled 550k vehicles for brake pedal problems. Honda just recalled 430k vehicles for airbag problems, and another 400k for brake problems. And Toyota, well, 4.8 million recalled for sudden acceleration, and another 600k Siennas recalled for potential corrosion problems. As of now, Toyota has recalled 6.6 million vehicles this year. Add to that recalls on the new Tundra for bad cam shafts, bad torque converters, and tailgates that buckle under load. And, letís not forget their engine sludge problems on everything from Corolla to Lexus.

In reality, vehicles are just machines that are massed produced. You take these complicated machines, bounce them down the road for 100k miles under all kinds of conditions, and expect nothing to go wrong, get real. What else can you do that with.

GM did the right thing by voluntarily recalling Cobalt and fixing the problem, even though the problem did not pose a danger. GM makes about 35 different models, if you include all their truck models. If you want to try to find problems in older models, be my guest. But, compare them to problems of older models from other manufacturers. Then, look at GMís newer models, and tell me how many recalls you find.

luvmylabs23139
04-16-2010, 08:11 PM
They haven't fixed anything yet! Our notice stated that we will be contacted by the dealer when parts become available. This is on a new one, why hubby bought a Chevy is beyond me.

pat addis
04-16-2010, 09:37 PM
chevy makes a fine truck but i bought a f150 instead.

Blackstone
04-17-2010, 12:29 AM
They haven't fixed anything yet! Our notice stated that we will be contacted by the dealer when parts become available. This is on a new one, why hubby bought a Chevy is beyond me.

Most manufacturers have vendors that supply parts. Enough parts have to be produced and shipped to dealers to make the repairs. They just don't have a bunch of parts sitting around. Vehicles at the plant have already been repaired. Parts are now arriving at the dealerships. By the way, did you power steering fail?

Maybe your husbnd sould have bought a Toyota. You wouldn't have to worry about the power steering, which is a good thing because you might not be able to stop the car. :)

luvmylabs23139
04-17-2010, 08:24 AM
Most manufacturers have vendors that supply parts. Enough parts have to be produced and shipped to dealers to make the repairs. They just don't have a bunch of parts sitting around. Vehicles at the plant have already been repaired. Parts are now arriving at the dealerships. By the way, did you power steering fail?

Maybe your husbnd sould have bought a Toyota. You wouldn't have to worry about the power steering, which is a good thing because you might not be able to stop the car. :)


Gee, I have a toyota and have never had any problems or any recalls on mine and its a 2002! Hubby owned one that never had any problems or recalls on it and it was still running fine with 250,000 miles when some kid ran a light and totaled it.

It would really suck to lose steering going 70 mph. That may actually be worse than the brakes going out. By the way, 70 is the speed limit around here.

Koolaid
04-17-2010, 10:01 AM
Gee, I have a toyota and have never had any problems or any recalls on mine and its a 2002! Hubby owned one that never had any problems or recalls on it and it was still running fine with 250,000 miles when some kid ran a light and totaled it.

It would really suck to lose steering going 70 mph. That may actually be worse than the brakes going out. By the way, 70 is the speed limit around here.

Going 70 mph I don't think you'd even notice power steering go out. Unless they've changed things recently, it just makes you have to turn the wheel without a power assist. And going 70 mph that assist wouldn't be much.

Blackstone
04-17-2010, 05:13 PM
Gee, I have a toyota and have never had any problems or any recalls on mine and its a 2002! Hubby owned one that never had any problems or recalls on it and it was still running fine with 250,000 miles when some kid ran a light and totaled it.

It would really suck to lose steering going 70 mph. That may actually be worse than the brakes going out. By the way, 70 is the speed limit around here.

Just because you didnít have problems with yours, it doesnít mean others didnít. I have a friend that just got rid of an í89 Chevy pickup with almost 500k miles on it. He rebuilt the trans at 400k, and that was the only thing he ever did to it besides oil changes, brakes & tires. However, I would say all Chevy pickups will perform that trouble free.

I donít know what model Toyota you have, but there were recalls on 2002 Corollas, Camary, Celica, Highlander & Tundra for various reasons. Probably on other models too. Maybe you should check with your Toyota dealer.

You really donít need power steer at 70 mph. Power steeringís real advantage is at low speeds (20 mph or less). There was a time when power steering wasnít even standard on cars and trucks. You had to ask for that option. Thatís why itís not a safety concern. Now, sudden acceleration, thatís another matter. And, by the way, those runaway Toyotas were really adhering to the 70 mph speed limit.

Franco
04-18-2010, 07:12 AM
I don't know how GM is going to pay anyone back! Between sagging sales and now a 450 million law suit filed against them by thier very own UAW.
http://freep.com/article/20100406/BUSINESS0101/100406072/1205/business0101/UAW-sues-General-Motors

Blackstone
04-18-2010, 04:26 PM
I don't know how GM is going to pay anyone back! Between sagging sales and now a 450 million law suit filed against them by thier very own UAW.
http://freep.com/article/20100406/BUSINESS0101/100406072/1205/business0101/UAW-sues-General-Motors

Actually, GM sales were up for both Feb. & March. As far as the law suit, I do not know what is involved. GM may, or may not, owe the UAW that money. Regardless, GM has already repaid a portion of the money to the Fed., and they still plan to repay the rest. Only time will tell.

BonMallari
04-18-2010, 06:41 PM
I may not care for the politics and business practices of Chevy...but I drive a 96 Suburban and I pull for the Hendrick Motor Sports cars in NASCAR..# 24 # 48 # 5 and even the # 88..go bowties

Blackstone
04-21-2010, 06:08 PM
I don't know how GM is going to pay anyone back! Between sagging sales and now a 450 million law suit filed against them by thier very own UAW.
http://freep.com/article/20100406/BUSINESS0101/100406072/1205/business0101/UAW-sues-General-Motors

GM announced today it has repaid $8.1 billion in U.S and Canadian government loans 5 years ahead of schedule. GM plans to issue an IPO by the end of the year to buy out the governements stake in GM.

Franco
04-21-2010, 06:34 PM
From today's Detroit Free Press...
http://freep.com/article/20100419/BUSINESS0101/100419058/1205/business0101/GM-to-pay-back-loans-early


GM plans on paying back 5.8 0f the 16.4 billion that was loaned to them. The money is coming from thier Escrow account. Money that was lent to them but, not used.

Tax payers still own 60.1% of Gooberment Motors. GM is going to try and raise the rest of the money via a stock offering. I wouldn't buy stock in a company controlled by the Feds and UAW!

When will they make a profit?

Blackstone
04-21-2010, 08:23 PM
From today's Detroit Free Press...
http://freep.com/article/20100419/BUSINESS0101/100419058/1205/business0101/GM-to-pay-back-loans-early


GM plans on paying back 5.8 0f the 16.4 billion that was loaned to them. The money is coming from thier Escrow account. Money that was lent to them but, not used.

Tax payers still own 60.1% of Gooberment Motors. GM is going to try and raise the rest of the money via a stock offering. I wouldn't buy stock in a company controlled by the Feds and UAW!

When will they make a profit?

The article you cited was from 2 days ago. It was based on speculation by the Det. Free Press. This was written after GM's announcement today.

http://news.yahoo.com/s/ap/20100421/ap_on_bi_ge/us_gm_loans

Today GM announced it had repaid the loans. They also announced they hope to turn a profit by the end of the year.

The procedes from the IPO will be used to begin buying out the Fed's stake in
GM. However it will likely take a few years for total divestiture. As soon as GM offers its IPO, I will be buying. I'm not anti-government or anti-union, so their stake in GM doesn't bother me.

Franco
04-21-2010, 09:43 PM
The article you cited was from 2 days ago. It was based on speculation by the Det. Free Press. This was written after GM's announcement today.

http://news.yahoo.com/s/ap/20100421/ap_on_bi_ge/us_gm_loans

Today GM announced it had repaid the loans. They also announced they hope to turn a profit by the end of the year.

The procedes from the IPO will be used to begin buying out the Fed's stake in
GM. However it will likely take a few years for total divestiture. As soon as GM offers its IPO, I will be buying. I'm not anti-government or anti-union, so their stake in GM doesn't bother me.


I would never invest in a business controlled by the UAW. Do you really think the UAW will let GM make much of a profit? If ever GM gets into a position to make one.