GM makes plea, apology to American public
December 8, 2008 by Personal Liberty News Desk
It is a desperate time for U.S. automakers, who are collectively asking for tens of billions of dollars in bailout money from the government.
The uncertainty of Congress in responding to the industry’s request has led to General Motors making a plea to all Americans – as well as an apology.
In an open letter which ran in trade journal Automotive News, GM describes its situation as being similar to that faced by "all Americans," who have been hit by economic events outside their control.
Rising energy prices, a falling stock market, a troubled housing industry and frozen credit are all cited as factors which exacerbated existing troubles and led to the urgent need for federal funds.
However, GM also admits that it erred and even "disappointed" the American people.
"At times we violated your trust by letting our quality fall below industry standards and our designs become lackluster," the letter states.
The automaker also acknowledges that it had "lost adequate focus on our core U.S. market," produced too many SUVs and trucks and maintained uncompetitive compensation plans.
GM and Chrysler both say they require a loan to avoid bankruptcy, while Ford is requesting a line of credit.
No, I’m sure that all this has an effect but let’s face it. GM, like Ford is now building their 3rd plant in Russia which will ultimately employee 170,000 Russians and cost 70,000 American jobs at a cost of 300 Million dollars. Not let us not even add to that the 1 Billion dollars promised to Brazil for GM’s plants there.
Why should Americans pay for their own jobs to be outsourced?
We will try this again. Like Ford, GM is building a new plant in Russia at a cost of 300 Million dollars that will emplyee 170,000 Russians and coast 70,000 American jobs. This is GM’s 3rd plant in Russia. Then GM promises to invest 1 Billion dollars in Brazil.
Why should American’s pay a corporation to outsource their jobs?
Let’s talk business. GM needs to be flexible-willing to meet market demands such as producing affordable,reliable and energy efficent cars that people would buy and drive. Their system needs to be reformed-go off from their conformity model of the long past.
Look at the Japanese cars and their capital cash figure, and figure out what is wrong with the picture and go from there.
While the big three are apoligizing, the American people should take a long hard look at what has happened! I ask why would an American buy an automobile that was made by a foreign owned company? Some say that well they are made here in America, but don’t they realize the profits go back to the owners, Japan, China , Korea! Don’t you think our big three would be better off financialy if the foreign owened brands did not exist in the U.S.!! I blame our government! They allowed Toyota, etc. to come to the US in the late 70’s and 80’s to sell their vehicals at below cost to gain market share then allowed them to build them here! Same goes for alot of of other products!! Shame on us!! As for the Banks, Bill Clinton said that he wanted everone working at McDonalds to be able to buy a house, well they did and look what happened, sub-prime lending !! I know a lady making $22k/year got loan for a $300k home in Florida, that loan officer should have been fired on the spot! Okay sub-prime lending worked for a while and was going to blow, but maybe not this quick! The real problem behind all of this is our Congress! They allowed the Funds, and Index funds to continue buying commodities: OIL,GOLD,SILVER,CORN, SOYBEANS,WHEAT, etc, OIL< OIL< OIL, GASOLINE! All of these commodities got so over enflated, no one had enough money left to pay those mortgage payments or even a new car!! And its not over yet! the American Farmers are going to be hurting from all of this in 2009 also! The over enflated commodities drove up the cost of production so that at todays commodity prices they are in the RED!! You cannot blame this on any one person! But we as Americans need to look at our Congressmen very carefully, and ask are they doing their job, are they in tune with our world or are they protected by the money and fame in DC. Not all are bad please don’t get me wrong! There has to be some changes if we want America to be here for our children and grand children!!
You got that Right. Every problem we have was created by the congress and senate .These people act like they do not know or care what goes on around them.We need to change the petition signature requirement so the encumbents can not get on the ballot so easily. If encumbants get on the ballot then good candidates will not run against them.The signatures required are way to low for the population we now have in America.Honesty and entegretty have gone out of Goverhnment completely.Money is the driver and the people are left out.There should be recall options on all offices including judges.
The big three automakers know very well of Stanley Meyers efficient method of
separating water [H20] into its basic components. They are also aware of his
hydrogen powered car. Stanley Meyer was murdered over this technology. Now
the Japanese have it. The big three do not have the management necessary to
recognize future requirements..The bailout will only last six months or so and then
they will want to suck on the congressional money. tit again
Ed
Bankruptsy is the best answer for the bail out problem.These companies are not even trying to help the people .They built overseas AND THERE FOR WE CAN NOT HELP THEM. They fought the health care proposal and pension proposals and now when they can not afford it any more they want the American people top bail them out. No dice. Everyone on the excutive boards of these Bnks and Corps are guilty of crimes against the people and should be prosecuted,not bailed out.
They are the enemy not our friends.
I am not for the bailout/loan to auto cos. But, I am just sitting here trying to imagin how long it will take us to absorb ANOTHER 3 MILLION UNEMPLOYED PEOPLE!
My elderly Mom & I just had a conversation & she remembers the Depression and she said THIS GENERATION IS NOT PREPARED TO LIVE WITHOUT MEAT IN THE SOUP POT FOR MONTH AFTER MONTH!!! She also doesn’t see the boomers able to feed themselves with gardens & then canning foods for their families.
Wait…. the Credit Card crisis has not yet hit either!!!
Better buy a gun to protect my property before Jan 20th.
I think everyone should draw a deep breath before deciding the Big 3 Auto Cos in MI should go under. Our local Cadillac dealers (2) employe 40 people (that I know of) and the GMC Chev dealers (1) employees about that many…. the taxes they pay on a local basis will be unbelievable not to mention the employees out of work and their dealerships shut down.
In my opinion the UAW boss has too big a mouth & an arrogence that doesn’t stop.
He thinks he is protecting his union guys…. what he is doing is helping them become unemployed. GMC just announced they are temporarily shutting 20 plants on a rotating basis for starting immediately thru January. Looks like we’ll get a ‘taste’ of more to come.
Knocking Unions and Democrats is not in your favor.That is what got you in this mess to start with. Voting republican is not a right it is a mistake.We are as much to blame as anyone
Not accepted
The time is well overdue, NO MORE MONEY. Ford can have their line of credit. We give them all this billions and they build plants in other country’s and employ their workers. Our government must tax them for every part that is made abroad . Yes it will increase the cost of vehicles, however we need to try to get lost American jobs back.Our government needs to place increased taxes on all goods shipped into
U.S.A. The time is well over due we must think of us Americans first.