General Motors roaring out of bankruptcy

[Hot Mega]

GM apparently saved by the bailout....

Since July, automaker has recalled workers, invested in facilities

General Motors Co. has invested $1.4 billion in more than a dozen plants and created about 5,500 jobs since emerging from bankruptcy court in July.
The investment and job moves are a stark contrast to last year, when GM shed factories, implemented unprecedented production cuts and slashed thousands of jobs in bankruptcy.

GM emerged from bankruptcy with about $50 billion in federal aid.
"It is a lot more fun to work on this stuff than what we were doing a year ago," Diana Tremblay, GM's vice president of manufacturing and labor relations, told The Detroit News.

The most recent move came Tuesday when GM announced it was recalling 1,200 laid-off hourly workers and adding a third shift of production at its Lordstown complex in Ohio. Workers there will help build the 2011 Chevrolet Cruze, which goes on sale in the third quarter.

"We're real fortunate," said Dave Green, president of UAW Local 1714, which represents Lordstown workers.

From The Detroit News: http://detnews.com/article/20100224/AUTO01/2240333#ixzz0gTjvjyRr

 

[Hot Mega]

In Related News: GM: Claims in Romney book are false

Michigan native says White House 'calling shots' at automaker
As his book prepares to hit bookstores, Michigan native Mitt Romney today got into a rhetorical duel with the Obama White House and GM, standing by an assertion the government is "calling the shots" at the Detroit automaker.
Officials at the White House and General Motors Co. strongly disputed the characterization in "No Apology: The Case for American Greatness," a copy of which was obtained by The Detroit News.

In one section, Romney writes that an unnamed CEO of an automotive industry corporation told him that despite what is said publicly, "the government is calling the shots on every major decision at GM, including which plants to expand and which to close."
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Romney's assistant, Eric Fehrnstrom, told The News Romney "received that information in the latter part of 2009." The automaker emerged from bankruptcy in July.

Fehrnstrom added, "There's ample evidence that the government is calling the shots at GM, from the Obama administration orchestrating the selection of a new CEO to Rep. Barney Frank pressuring GM to keep open a facility slated for closure. The real issue is that government ought to get out of the auto business and distribute its shares to taxpayers."

GM spokesman Greg Martin said the "calling the shots" assertion isn't true.
"Our experience has been that the administration has been true to their word," Martin said. "We are free to make the business decisions to restore GM to profitability. We're making progress, and we are confident we have a bright future."

Would be nice of Romney to continue to accuse Obama of saving GM. I wonder if ol' Mitt wants to take a "mulligan" on his book claims. I'm sure the spin is coming.

From The Detroit News: http://www.detnews.com/article/2010...Claims-in-Romney-book-are-false#ixzz0gTljUOSh

 

[Will E Worm]

Wake me up when GM is not Government Motors.

 

[Hot Mega]

Wake me up when GM is not Government Motors.

We get it. Good for America, bad for republicans <and terrorist symps>...

I'm sure GM will go the way of the banks and be paying the g'ment off soon. I know it hurts Will E. but just take a little morphine or have another cupcake.:o

 

[Will E Worm]

We get it. Good for America, bad for republicans <and terrorist symps>...

I'm sure GM will go the way of the banks and be paying the g'ment off soon. I know it hurts Will E. but just take a little morphine or have another cupcake.:o

Whatever that means. :tongue:

 

[Baill Inneraora]

GM is rehiring 1,200 in Lordstown Ohio..........announced yesterday.

:nanner:

 

[Vosslier]

I hope they revive Pontiac.

 

[Will E Worm]

I hope they revive Pontiac.

And, Oldsmobile.

GM should buy Chrysler.

They should also revive: Plymouth and AMC. :hatsoff:

 

[Vosslier]

And, Oldsmobile.

GM should buy Chrysler.

They should also revive: Plymouth and AMC. :hatsoff:

Yea then they could have new 'Cudas and Pacers.

 

[Will E Worm]

Yea then they could have new 'Cudas and Pacers.

I just want GM to be owned by a person or group of people again and be the world's largest vehicle manufacturers. :hatsoff:

 

[Vosslier]

I just want GM to be owned by a person or group of people again and be the world's largest vehicle manufacturers. :hatsoff:

I just want a new Trans Am without haveing to buy a Camaro and convert it over lol.

 

[blusolstice]

Sweet, I really hope this is the first of many announcements of a recovering economy.

 

[Icewater Jones]

Screw all that!!!!




Where the hell is the Firebird???

 

[J_Mags]

Good news...I always support the Big 3 (By support I mean I've never owned an non-Big 3 vehicle). I think Chrysler is still pretty fucked, but Ford is already posting profits, and with GM "roaring" out of bankruptcy there is hope for the American car industry.

 

[Ace Bandage]

I hope this minor success leads to the government trying to pull all other failed companies out of bankruptcy as well.

 

[titsrock]

^
Minor success? Nice backhand

Fact: Getting rid of shithead ceos who know nothing about anything is generally a smart way to turn a big company around. Hell, it took the bailout to remove the layer of GM asshats who truly had their heads in the sand for years.

Ford got rid of sonny boy who didn't know shit and hired a real ceo. FINALLY GM "saw" the light. It also helps that GM is finally putting out product like the Malibu and Camaro that isn't a complete embarrassment for America. If the Volt really delivers on something ~green~ than it's time to buy stock in GM (and Ford) again :thumbsup:

Now, all we need to do is ratchet up CAFE so we get GM and Ford to stop producing shitty thirsty SUVs :hatsoff:

Good news for all! What perfect timing too...Toyota is going up in ~flames~ before our eyes...people will HOPEFULLY head out of the Toyota showroom and into GM/Ford showrooms....

 

[Rey C.]

Sweet, I really hope this is the first of many announcements of a recovering economy.

As do I. Over the past 6-7 years, most of the people that I knew who worked in automotive have left or been forced out. When I go tothe race track now, I very seldom see an industry face that I can "talk shop" with anymore.

Good news about GM. I guess they'll do an IPO in the next year or so.

 

[Vosslier]

Where the hell is the Firebird???

Heres a pic of a 2011 Trans Am

 

[Doc Scurlock]

Heres a pic of a 2011 Trans Am

Looks like it's about to transform into a giant robot.

But yeah, GMs problem was that they were carrying too many brands and essentially we're competing against themselves.

 

[Icewater Jones]

Heres a pic of a 2011 Trans Am

...And it's got the Smokey and the Bandit makeup...


Rep to you sir!