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Bank bailouts still going strong, and Time's Person of the Year...


smashweights

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http://money.cnn.com/2009/12/30/news/companies/gmac_bailout/index.htm

Apparently GMAC is getting $3.8 billion more on top of $13.8 billion it already has and the feds will now control the company. Remind me where the incentive is to not be financially irresponsible in the banking industry is again? You fuck up and lose ass-loads of money, gov't bails you out. You STILL are fucking up after getting FREE money, gov't gives you more money. Repeat until company is owned by gov't.

Finally, I was at Barnes and Noble today and saw that the Time Magazine Person of the Year was Federal Reserve Chairman Ben Bernanke!?! :wtf:

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Don't forget, that technically both GM and GMAC are gone. Down the tubes. In the restructuring, a new company was required to be formed. It happens to be GMC for it's initials. heh...

So I'm saying GM died, it's gone. Only it's ghost is here to haunt us. They pissed me off when they killed Oldsmobile anyway...

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They pissed me off when they killed Oldsmobile anyway...

This isn't your father's Oldsmobile. No, it's the old guy's from OR that's old enough to be everyone's dad! :lol:

Seriously though, I still don't get the dropping of Olds, and now Pontiac. NONE of the vehicles were unique to the brand, they were all on a platform shared by another GM nameplate. If none, at least most. Also, with both brands, many of the dealerships were shared with another nameplate, also. Pontiac/GMC, Olds/Cadillac, etc... Maybe that is just unique to some areas, and not the norm throughout the country?

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Seriously though, I still don't get the dropping of Olds, and now Pontiac. NONE of the vehicles were unique to the brand, they were all on a platform shared by another GM nameplate.

That was precisely part of the problem. The cars were competing with themselves. No brand identity or personality. Over the years...you could get the same model from GM OR Pontiac. What makes Pontiac so special then? They lost their identity...with the exception of the G6, and more importantly the G8, Pontiac is the same brand of old. It makes perfectly good sense to me, especially when you're getting your ass handed to you by imports. Circle the wagons, stop making multiple models of the same car that no one is buying, and cut costs. Oh yeah, and take some government money.

I have a really close friend in management at the GM plant in Detroit proper. He was brought in to fix things...he has a track record of setting shit straight in the production process. Once he started fixing issues on the line, and making people look bad who make 2 and 3 times what he makes, all of a sudden he's the fall guy and they are trying to set him up to fail. GM hasn't changed one fucking bit.

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Inter-division competition used to promote innovation, particularly in the 50s and 60s. If more recent management would have examined that era and allowed the brands more individuality, Toyota would not be on top of the heap today.

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