Aw! Too bad, my heart bleeds!
After my experience with GM and their dealers late last year with the
paint lamination problem (flaking off like dandruff) I have no
sympathy. This stock and the company behind it deserves to shrink into
oblivion. The future strength of a company lies in the loyalties of
past, current and future customers. All customers! Not just a few
diehards who defend their vehicles no matter what. I do not think GM
management have a clue what is going on and what is being said on the
streets and in the investor world.
Since my last contact with the GM dealer I thrashed the "Impala"
brochure I downloaded; I decided AGAINST BUYING THIS CAR. Over the
Christmas holidays I convinced my dad against it also. That is two car
sales lost. A neighbor expressed enough concern to redirect his car
buying elsewhere. Three car sales lost and with them the maintenance
and parts income for the next several years. Lost income over a $1000+
paint job to fix a common well known problem is really adding up to the
many thousands of profit dollars and affecting the pocketbooks of GM
What is so ironic is I would have been happy to receive a compensation
offer of half the cost of a new paint job ($500 to $800). I would have
been enjoying a new Impala this June or July instead of a new Camry or
Accord I am now looking at to replace my truck. No manufacturer is
completely immune from defects or dishonest dealers but how customers
are treated speaks volumes. TOYOTA GAINING GROUND ON GM AND IS
PREDICTED TO TAKE OVER NUMBER 1 SPOT IN WORLD!!!!
Thankfully, only one of my 10 mutual fund holdings have GM in their
portfolio and they seem to be steadily reducing their exposure.