Bail out money equals famous spokesman?

United States
November 21, 2009 8:45am CST
I have NO respect for GM (the automaker). Of the Big 3, Ford has been the strongest financially; Chrysler had some great products; but GM was in the worst shape of the three. How could they justify travelling to BEG for money in private jets? But I guess in the end, Chrysler's doing the smart thing--if you're broke, stop spending money hand over fist on things like celebrity spokespeople or excessve advertising, like GM is. And none of the carmakers really seem to be in touch with how expensive their products are! I'll just keep shopping foreign or stick with used cars! Does anyone else think it's strange that GM fired their CEO yet kept Howie Long? They prolly got paid nearly the same salary too.
1 person likes this
2 responses
@khayshenz (1387)
• United States
21 Nov 09
I agree that the government should not have bailed out any private companies. The reason for the bailout is to make this companies keep their employees - but did they? Now all that bailout money - that the taxpayers like us (that's our money!) - just went to CEO's with lucrative packages and still have 6-figure incomes! And here I am - barely making it to the next paycheck.
• United States
21 Nov 09
Sadly, the difference between the wealthy and middle class/poor is widened considerably. I know I'm still struggling considerably, but doing better than I was this time last year. Where I have the most problems is trying to obtain public assistance--being a poor, white AMERICAN woman with only one child is impossible! I don't qualify for anything currently...they tell me because I have a retirement fund of more than $2k, I don't qualify...but the company is in receivership and I'll probably NEVER see that money! I put it away nearly 20 years ago and it just accumulates--but I'm going to have to try and take it out--I hope that my emergency is important enough (my father had given me an extra car and was helping with the insurance, but he passed away two weeks ago--the car is one of the few assets in his estate, so now I need to purchase another vehicle ASAP!).
@khayshenz (1387)
• United States
21 Nov 09
I'm so sorry to hear about your father - with the retirement fund, maybe you can apply for hardship so you can take it out? It's a terrible economy for us all. Hang in there!
@kdhartford (1152)
• United States
21 Nov 09
Well, I guess you found another reason why the U.S. Government should not have bailed out any company. We are holding on to GM for mere nostalgia. Why did GM spin off the only two divisions that actually make money? Hummer and Saturn were the only two that actually made money. If GM had a profit motive, they would have started with was is done right and conform the rest of the division to that model. Unfortunately with the U.S. Government and the unions involved; profit motive is not the driving factor. The driving factor becomes a self-licking ice cream cone!
• United States
21 Nov 09
I think the biggest problem was that they had too many badges--why (oh why?!?!) does every American car company feel the need to make (and remake) the same car in different price points? This is just my opinion, but how many versions does Porsche make of the 911? Last I heard it was one. I remember at one point where the Firebird and the Camaro only had a few cosmetic differences. And back when Iacocca was big in any car company, you saw multiple cars built on the same platform but they all looked different. I think GM wants to appeal to a larger segment of buyers--Hummers are marketed to a very small, loyal customer base (I know there were some folks who didn't buy things other than gas last year!). Jeep (from Chrysler) was a great example of a small, carefully selected line of vehicles but as late, I think they added too many and believe the hype. I am a firm believer--if I can't pay for it, I'm not meant to have it! I wanted a Wrangler--2 reasons I didn't get one: 1) I really couldn't afford one, even one with high miles that was older and 2) I would have to get a clutch extender kit to drive one. In the end, I waited a year and bought an Isuzu Amigo. That was in 1990--I just sold it last year!