Omega Owners Forum - GM Bankruptcy

Dave-C Omega Knight Offline The Old Girl Posts: 1978 Staffordshire Gender: Drives: Mercedes 220 Cdi	GM Bankruptcy 01. Jun 2009 at 07:28 http://www.mercurynews.com/politics/ci_12491411 This will be worth watching, not sure if it's a sad day, or a nudge to make the world realise that it's borrowing too much in the first place. $60 billion sounds small when you say it fast
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Banjax Omega Lord Offline We're just a virus with shoes Posts: 5591 Perth Gender: Drives: '04 Subaru Legacy Sport, '03 406 diesel	Re: GM Bankruptcy Reply #1 - 01. Jun 2009 at 07:51 GM - massive conglomerate of various marques, failing in an economic depression so bought out by the government - sound familiar? and we know how well that turned out
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TheBoy

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Re: GM Bankruptcy
Reply #2 - 01. Jun 2009 at 08:20

There is not a car mass producer out there who is not worried.

GM's trouble is they made rubbish that nobody wants, and was arrogant enough to think if they filled the dealers with anything, it would shift.

Ford, who were in far worse condition financially around 3yrs ago, managed to start to turn things around in time before the recession really took hold in their home country.

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Zulu77 Ex Member	Re: GM Bankruptcy Reply #3 - 01. Jun 2009 at 10:25 Banjax wrote on 01. Jun 2009 at 07:51: GM - massive conglomerate of various marques, failing in an economic depression so bought out by the government - sound familiar? [img] and we know how well that turned out Bang on again bannjaxx Another example of how size matters ....... in the negative sense
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Marks DTM Calib

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Re: GM Bankruptcy
Reply #4 - 01. Jun 2009 at 10:34

Its interesting because Gm Europe have been turninga rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.

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Zulu77

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Re: GM Bankruptcy
Reply #5 - 01. Jun 2009 at 10:36

TheBoy wrote on 01. Jun 2009 at 08:20:

There is not a car mass producer out there who is not worried.

GM's trouble is they made rubbish that nobody wants, and was arrogant enough to think if they filled the dealers with anything, it would shift.
Ford, who were in far worse condition financially around 3yrs ago, managed to start to turn things around in time before the recession really took hold in their home country.

Bankrupt in design ideas, bankrupt in strategy, bankrupt in moral and fiscal responsibility and now bankrupt in actuality - are we really surprised? Undecided

Seems to have more in common with our present administration the more one thinks about it Thumbs Up!

........and we're depending on them to provide sound stewardship of any deal to protect the employment of Vauxhall workers Roll Eyes

....... I hope there're not expecting too much at Ellesmere Port Wink

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« Last Edit: 01. Jun 2009 at 15:00 by N/A »

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Zulu77

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Re: GM Bankruptcy
Reply #6 - 01. Jun 2009 at 10:42

Marks DTM Calib wrote on 01. Jun 2009 at 10:34:

Its interesting because Gm Europe have been turninga rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.

I was impressed by Lord Peter's attendance at the talks in Berlin Roll Eyes

to ensure that the voice of British concerns about the future of Vauxhall rang loudly enough Wink

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« Last Edit: 01. Jun 2009 at 10:43 by N/A »

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Marks DTM Calib Administrator Offline Ex Member Posts: 25671 Northern Hemisphere Gender: Drives: Astra J, Mum Bus, Dexta Tractor, 108 DMU wip	Re: GM Bankruptcy Reply #7 - 01. Jun 2009 at 10:45 Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!
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Zulu77

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Re: GM Bankruptcy
Reply #8 - 01. Jun 2009 at 10:53

Marks DTM Calib wrote on 01. Jun 2009 at 10:45:

Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!

I hope that's not the thought uppermost in their minds, and of that governing the efforts to secure a relatively sound future up there Mark Undecided

.... in the negative sense of course Thumbs Up!

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« Last Edit: 01. Jun 2009 at 16:45 by N/A »

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Kevin Wood

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Re: GM Bankruptcy
Reply #9 - 01. Jun 2009 at 12:10

Quote:

Marks DTM Calib wrote on 01. Jun 2009 at 10:45:

Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!

I hope that's not the thought uppermost in their minds, and that governing the efforts to secure a relatively sound future up there Mark Undecided

.... in the negative sense of course Thumbs Up!

I would imagine it'll be a lot easier for them to ditch UK employees than German employees, especially as the German government are at least seen to be doing a darn sight more than Mandelson.

Kevin

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Marks DTM Calib

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Re: GM Bankruptcy
Reply #10 - 01. Jun 2009 at 12:19

Kevin Wood wrote on 01. Jun 2009 at 12:10:

Quote:

Marks DTM Calib wrote on 01. Jun 2009 at 10:45:

Well considering they only have Ellsmere Port in the Uk knocking out Astras (Luton only has the offices, parts and a small special vehicles centre), there is not much to go!

I hope that's not the thought uppermost in their minds, and that governing the efforts to secure a relatively sound future up there Mark Undecided

.... in the negative sense of course Thumbs Up!

I would imagine it'll be a lot easier for them to ditch UK employees than German employees, especially as the German government are at least seen to be doing a darn sight more than Mandelson.

Kevin

Its easy to hire and fire in the Uk and a nightmare in Germany!

The Uk governemnt do little (if anything) to encourage and support manufacturing (its got worse in the last 10 years surprise surprise) so I would expect the Uk to get hit!

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Kevin Wood

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Re: GM Bankruptcy
Reply #11 - 01. Jun 2009 at 12:30

Marks DTM Calib wrote on 01. Jun 2009 at 12:19:

Its easy to hire and fire in the Uk and a nightmare in Germany!

The Uk governemnt do little (if anything) to encourage and support manufacturing (its got worse in the last 10 years surprise surprise) so I would expect the Uk to get hit!

Agreed on both counts.

It's a good job we don't need manufacturing any more, having such a strong financial sector, etc... Lips Sealed

Kevin

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Martin Imber

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Re: GM Bankruptcy
Reply #12 - 01. Jun 2009 at 12:55

Quote:

Marks DTM Calib wrote on 01. Jun 2009 at 10:34:

Its interesting because Gm Europe have been turninga rpofite, so have Holden and a few more of teh 'focused' sub groups.

The US lot have been bloody idiots, sticking to what they ahev done for 100 years without looking at the changing market. They are only now considering introducing a small car (i.e. the Corsa which they already have designed !) and more diesel engines and smaller petrol engines.

To me, its not rocket science!

Thankfuly, the german government are securing the funding to keep GM europe going (they are not covered by chapter 11 protection as they are outside the US) until the takeover can be completed.

I was impressed by Lord Peter's attendance at the talks in Berlin Roll Eyes

to ensure that the voice of British concerns about the future of Vauxhall rang loudly enough Wink

Who?

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STMO123 Ex Member Gender:	Re: GM Bankruptcy Reply #13 - 01. Jun 2009 at 13:09 Ellesmere Port is already tooling up to produce the new astra, so should be OK for the short/medium term. It will kill the area if they leave. I worked there in the early seventies, when we had a bad downturn and the three day week came in. There is absolutely nothing else in the area that could fill the gap if vauxhall left town.
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TheBoy Administrator Offline TBE has an MOT! Posts: 64817 Brackley, Northants Gender: Drives: 98 MV6, 03 Elite, 00 25, 89 ZX10	Re: GM Bankruptcy Reply #14 - 01. Jun 2009 at 13:14 Possibly makes sense to close the head office at luton, concentrating on Ellesmere port, though I think they may struggle, as the track at Luton is a JV with another company
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