GM Turnaround Plans Lack Magnitude

Column: GM Turnaround Plans Lack Magnitude
Click the link below to read the full story: http://www.forbes.com/feeds/ap/2006/02/10/ap2517054.html?partner=alerts

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Charge wrote:

GM doesn't really have a plan, or if they do then it isn't published.
GM is hacking it's way along making up plays as it goes and hoping to find salvation around the next corner.
Start by firing everyone who makes over $250,000 per year and then pay whatever you must to steal as much talent from Toyota, Honda and Nissan.
And please, no more brain dead consumer products marketing idiots.
John
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John Horner wrote:

John, you must really have an axe to grind with GM to say such a dumb thing. You would have to be deaf, dumb, blind and just plain stupid not to be aware of all the cost cutting measures that GM has taken to return to profitability. GM is winning numerous quality awards for a range of vehicles. John, do you read the papers or listen to the news? When was the last time you looked at GM's Financial Statements? Their Plan is publicly laid out quite well in their Financial Statements for all to see. Or perhaps you'd prefer to keep getting your information from the tabloids, like Gosinn and Charge. They even offer a braille version for those like yourself with apparently poor eyesight or inability to read and comprehend. Frankly, I am getting sick of your ill-informed meanderings and malicious rants. It is one thing to have an opinion based on facts. It is quite another to offer a completely uninformed opinion, as you seem to do quite frequently. You, gosinnatgmaildotcom (Björn Helgason) and Charge seem to revel in your brainless speculation on the timing of GM's demise. John, GM will be around long after you Three Stooges are dead and gone.

No John, you are making up words as you go to express your dislike for GM. Why are you even in this News Group if you dislike GM and their products so much?

John, you sound like a bitter old man who was fired by GM or one of its suppliers. This suggestion once again shows the illogic of your whole attitude. You advise us that GM should fire "everyone who makes over $250,000 per year". That is just plain silly John. You have no idea of the identities, intelligence or competence of "everyone who makes over $250,000 per year" at GM. And to even suggest that GM should seek to woo every man and woman working for "Toyota, Honda and Nissan" and then to "and then pay whatever you must to steal" them is an absolutely stupid thing to say John. As with the GM employees, you have absolutely no idea of the identities, intelligence or competence of any employees at Toyota, Honda and Nissan. On a further note John, explain to us all again how it would help GM to fire "everyone who makes over $250,000 per year" and replace them with people who make even more??? After all, you did say "pay whatever you must".

John, it has become quite apparent who the idiots are. We can only hope that the numerous mindless posts that you just bombarded us with are the result of you waking up on the wrong side of a hangover! *LOL* Surely no one in their right mind could intentionally post such meaningless tripe! There's a place for you, Gosinn and Charge over at alt.idiots.bitter
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Cool Jet wrote:

I have read it all. When exactly does GM expect to turn a profit again? The answer is, they either do not know or are not saying. A play with no end posts is not a real plan.
GM is taking many actions, but they do not have a credible plan. You seem to confuse actions with planning.
John
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John Horner wrote:

John, if you had read it all, you wouldn't be saying that GM doesn't have a plan. Have you read their notes to their SEC filings? Do you even know what SEC filings are John? Do you know the difference between a Balance Sheet, a Consolidated Balance Sheet, an Income Statement, a Consolidated Income Staement, a Statement of Sources and Uses of Funds or a Schedule of Retained Earnings? When you can honestly answer "Yes" to all of those questions John, you can then say " I not only read it all, but I understand it all." And you clearly don't at this time John.

John, neither I, nor the investing community cares what you think is credible. Because you really don't appear to have a clue about GM's financial situation and/or plans. So cut the B.S. rhetoric and come up with an original thought of your own - based on fact, not your misunderstanding of fact. ;-)
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> On 2/14/2006 11:47 PM ... Cool Jet wrote:

Since you've read the plan, when does the plan show GM returning to profit?
I haven't read it. But what I hear John saying is that he has read the plan and stated that the plan doesn't indicate when profits are expected to return. I'm curious...is that true?
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jcr wrote:

If you are truly interested in GM's financial health jcr, you should make it a point of reading the company's financial reports and press releases. This information and their SEC filings are all available for the world to see at www.gm.com under "Investor Relations".

jcr, that's what tells me that Mr. Horner either hasn't read or doesn't understand GM's financial plans. GM continues to strive towards a return to profitability in fiscal 2006. Here's an excerpt from one of GM's recent press releases that points out their cost-cutting measures, which are capsulized as follows: "GM previously announced plans to reduce its North American structural costs by $6 billion on a running-rate basis by the end of 2006, and further plans to reduce its annual net material costs by $1 billion. GM signed a historic agreement with the UAW in October and announced a capacity reduction plan in November that included ceasing operations at nine assembly, stamping and powertrain facilities. Additionally, an aggressive target was recently announced to reduce global structural costs to 25 percent of automotive revenue by 2010 from the 2005 level of about 34 percent on a global basis."
These measures, if acheived, would restore the company to a level of substantial profitability by the end of '06. Here's a link to the article:
http://media.gm.com:8221/servlet/GatewayServlet?target=http://image.emerald.gm.com/gmnews/viewmonthlyreleasedetail.do?domainX9&docid "849
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