GM has largest IPO in US history

**deathgodusmc** · 11-20-10, 12:04 AM

GM employs 209,000 people in every major region of the world and does business in more than 120 countries.
General Motors | Corporate Information - Company Profile | GM

Seriously someone is full of shit.

**CivilWars** · 11-20-10, 01:05 AM

Originally Posted by hawgballs

To chop it up and sell the pieces. It's called leveraged purchasing. They buy from bankrupt companies for dimes on the dollar and sell the liquid for scratch and sell the illiquid for profit.

Now that I have humored you, it is your turn to "enlighten" me on how you come to the conclusion that GM was going bankrupt because they paid more in labor than what they profited per car..... Because that is precisely what your lame example is implying.

When did I say the bankruptcy was just as a result of labor? My point was if you have someone performing a job that helps to make that company money they will keep that person employed. That could be the guy making the widget, selling the widget, servicing the widget, or even the janitor cleaning up after all of them. However, if your widget is a Tahoe that gets 14 miles to the gallon, so it sits on the lot not making the company any money then those jobs end up costing the company more than they are making off of them, so they are expendable.

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**flame** · 11-20-10, 08:34 AM

Originally Posted by hawgballs

People don't buy your shit because they can't afford it. Because of: credit freezes, recession.

It was never because they paid their labor too much.

Cutting any costs, including labor would have helped, but GMs problem was they were way to slow to realize that gas prices have doubled and fuel efficiency is now more important than huge vehicles. They had the s10 blazer that was a very nice size and replaced it with the trail blazer that was much larger. They pushed the suburban and tahoe(and equivalents in caddilac, GMC)The car lines they offered just were not competitive with Honda and Toyota. Bad business plans. I would agree that high labor costs are bad in any business, but thats not what sunk GM. Lower labor costs would have bought them time but they still would have fallen.

**Fovezer** · 11-20-10, 09:02 AM

Originally Posted by deathgodusmc

Exactly how did they save 1.4 million jobs when in 2009 gm only had 217,000 employees? I really would like to see the math on this one.

Who the hell said they only saved GM jobs? Do you have any clue how many other companies supply GM and other auto manufacturers? How many people rely on the auto industry for employment? It's ignorant to think that the only jobs saved would be just GM employees. Many suppliers, distributors, dealers, etc. were saved by this.

**deathgodusmc** · 11-20-10, 09:24 AM

Originally Posted by Fovezer

Who the hell said they only saved GM jobs? Do you have any clue how many other companies supply GM and other auto manufacturers? How many people rely on the auto industry for employment? It's ignorant to think that the only jobs saved would be just GM employees. Many suppliers, distributors, dealers, etc. were saved by this.

And its just as ignorant to run with the idea that they saved 1.4 million jobs with the bail out of gm and mopar. I gave a guy money for lunch yesterday so i saved at 1000 jobs by the trickle down effect as well. Both statements are equally full of of shit.

**deathgodusmc** · 11-20-10, 09:26 AM

Originally Posted by CivilWars

When did I say the bankruptcy was just as a result of labor? My point was if you have someone performing a job that helps to make that company money they will keep that person employed. That could be the guy making the widget, selling the widget, servicing the widget, or even the janitor cleaning up after all of them. However, if your widget is a Tahoe that gets 14 miles to the gallon, so it sits on the lot not making the company any money then those jobs end up costing the company more than they are making off of them, so they are expendable.

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Gm's main problem isnt their product. Its that the force working for it is funding a retirement group twice its size.