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Thread: GM has largest IPO in US history
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11-20-10, 12:04 AM #41
Re: GM has largest IPO in US history
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.
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11-20-10, 01:05 AM #42When 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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11-20-10, 08:34 AM #43
Re: GM has largest IPO in US history
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.
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11-20-10, 09:02 AM #44
Re: GM has largest IPO in US history
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.
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11-20-10, 09:24 AM #45
Re: GM has largest IPO in US history
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