...To not correct their manifold and head gasket problems for so many years. Well their not responding to customer complaints for so many years has finally resulted in the "shit hitting the fan"! Lawsuits are coming in... Just not what GM needs now. It's obvious the problem is one of design, the hard working plant workers can't be blamed for this one, but it has now become a management problem due to many years of inaction by GM.
Read how these GM customers feel about the situation:
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Which usually results in very expensive repairs. The Canadian TV news items on this recently cancel out many scarce dollars spent on advertising.
Thank goodness Chrysler treats their customers much better than GM does. There were design problems with Chrysler's mid 80s LH car air conditioner heat exchanger. Chrysler extended the replacement of this troublesome part to 7 years. I had mine replaced 3 times at Chrysler's expense in the first 7 years, now it appears OK as it's been fine for the last 4 years.
Zzzzzzzzzzz! Get a life man. Your web-name, "ihate" is well chosen. Try working towards "ilove" or even "itolerate". Hell, even "idislike" would be an improvement! *LOL* It's bad on your heart to be so wrapped up in bitterness. Find something positive in your life. There must be something positive in your life. (Although it's not readily apparent.) If not, buy a pet. As long as you feed it, it will love you unconditionally, in spite of your incessant whining. Just don't beat it to death as you do every subject that you whine about in the NewsGroups! ;-)
The hate in this issue is in your mind man. You only read the negatives, but from me there is a message. I'm feeling very sorry for those GM customers (I know a few) who are facing big bills to fix this gasket problem that GM management has ignored so long. I repeat that was an ugly thing for GM to do.
I'm posting a legal site URL who would like to hear from those unfortunate owners affected by this very serious problem.
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Investigation of Dexcool>
I worked a number of years as an engineer in manufacturing so I can appreciate how frustrating it must be for the GM engineers to see serious problems passed over, usually for short term financial reasons. This attitude of GM can even make it difficult for the company to retain and hire to top people. If they don't straighten out their problems very soon few quality people will want to work there.
Didn't you notice how happy I was with Chrysler's support in fixing my air conditioner. It only took Chrysler a few years to react to their problem. I also has serious problems with a new design Chrysler manual transmission in '81, then they also stood behind it and eventually completely replaced it. My relationship with people repairing my cars has always been up front and level headed. (I can't say the same for the many BS car salesmen who I simply walk out on and go to another dealership)
An intelligent discussion is not spam or hate. I have, or obtain from others, the knowledge to analyze most car problems and communicate intelligently to the maintenance shop. That saves me lots of dollars and time. I save even more money if I judge I can easily fix the problem myself.
Yes I've seen first hand the difference in quality of design and construction on the cars I've owned over the years; mainly GM, Datsun (now Nissan) and Chrysler. Also on the many cars of many makes I've rented. My cars go significant miles over a number of years. They all had their problems, but quality trends in design and construction are very noticeable.
I also feel sorry for you who seem want to stop discussion of technical and management problems at GM. Face the truth of what is being said and learn from it. You are very cool (cold) EH! You sound like you could be part GM management, double sorry for you if you are.
I'm also an investor, so I have another reason to discuss the very serious GM company problems. Ignoring those problems is like sticking your head in the sand. If GM crashes there will be serious consequences for many people in many companies and as usual the common share investors and workers will be the last to pick up any remaining scraps.
Such wonderful GM engineering and a truly marvelous Customer Relations success!
The GM Board, and dealers took out an ad, praising Wagoner's "leadership". His "leadership" saw GM's market share head for the basement as has its stock price and bond rating. Great job Rick Wagoner :-(((
GM dealers give CEO Wagoner a ringing endorsement: "Wagoner is leading the best management team at GM since Alfred Sloan," . That has got to be a marvelous exercise in denial, stupidity, blindness or all of the above.
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Toyota poised to become the world's largest automaker
I have a 97 3.1 GA, with about 129k miles on it. Great car for the most part. I replaced my Intake Gasket at about 75k miles...yeh I was pissed cuz it cost me about $850, but I really became pissed when I found out it was a problem being unaddressed for over 10 years. After replacing it I remember my father telling me about a water gasket leak he fixed in his 85 Olds 98 with a 3.8 engine, which cost him almost $1k at that time, so I put 2 and 2 together and remember it was his intake gasket, so the problem was there in
1985 and continues to this day which is actually a problem unaddressed for
20 years!!!! No wonder GM is hitting the skids!
Precisely. I'd highly recommend that you try an intelligent discussion and stop spewing the hate. ;-)
No "ihate", we just want to stop your incessant whining! It has become more than a bit monotonous.
As with most of your rants -WRONG AGAIN!!!! I'm an investment banker.
Too bad that you're not an astute investor or you would have already made a pile of money short-selling the stock! By the way, being an investor does not for a minute suggest that you should discuss investments in an automotive news group! Share your amazing investment knowhow in an investment NewsGroup! Heh, heh! Would you post automotive comments in an investment newsgroup? ;-)
Whining about all things GM and rubbing your hands with glee at every GM misfortune is like sticking your head up your ass and developing an anal fixation.
Your gutter language and unintelligent responses says it all about you. I also feel sorry for your investing clients. Your selling short GM is not very positive about GM, but you should then be very happy for all the bad GM news.
Just to put your head a bit straighter, I and I know many others would like GM to survive, but we know that isn't possible with the current top management. They are simply delaying a severe restructuring which has to come to survive, likely spending more time protecting their own positions than improving the company.
I'll not be responding to you again, unless you stop the gutter talk and talk with some intelligence.
Spam Hater Just Plain Hater (ihateATspamDOTnet ) whined:
You've taken 3 days to respond and that's your best shot! *LOL* There was absolutely no "gutter language" in my last response, which leads me to conclude that you are as poor a linguist, as you are an investor. My clients are quite happy with the returns they glean on their investments. If you really were an investor, you would have understood and appreciated the "short-sell" comment. Methinks that your comment that " I'm also an investor" was a bit of wishful thinking on your part. You are certainly not an astute investor! *LOL*
Your knowledge of GM's chances of survival is as abysmal as your knowledge of investments, "ihate". You and those "many others" who "know that isn't possible with the current top management " for GM to survive must have an axe to grind with GM, because GM can and will survive their present financial woes. If you were the investor that you claim to be, you would have an inkling about this matter. People like you who use generic terms like "I and I know many others" tend to be blowing smoke. "ihate", you can only speak for yourself. You can't speak for others. Stand alone like a man, stop whining and be counted. ;-) You would have to be blind, deaf and dumb to not know that GM is already undergoing "a severe restructuring". What planet have you been living on?
You will save yourself much embarrasment by not responding "ihate". You are better off remaining silent and appearing stupid, than opening your mouth and removing all doubt. *LOL*
I'm curious. If you're so hot on GM's future prospects, why in the world would you be short selling GM stock (which is betting the odds that it will go down in value, not up)?
jcr, it's one thing to know that a company is going to survive financial difficulties, in the long term. It's quite another thing indeed to be able to capitalize on their immediate financial difficulties by making money in the markets, in the short term. That's simply called knowing the company well and knowing the stock market (people) well. It's amazing how much money you can make in the market by watching people panic sell. (People like "ihate" who think they understand investments tend to panic sell.) Short selling is often a short-lived window which only works until the stock begins its rebound. There are few companies that you can't sell short during their life cycle and not make money.
It's fairly simple to determine jcr. Just watch quarterly performance results and sustained profitability over 2 consecutive quarters often signals that the corner has been turned. But you have to be able to properly assess performance to be sure that positive results haven't been manipulated through intercompany machinations. Generally speaking, sustained profits over 2 consecutive quarters PLUS a forecast of sustained profitability over the ensuing 2 quarters is what you should look for.
GM's corporate calendar indicates that on Apr 20, 2006 at 9:30 a.m. ET, they will be holding a 1st quarter Earnings Conference Call. I'll quote some details:
"The conference call will be hosted by Fritz Henderson, GM Vice Chairman and Chief Financial Officer. The call will begin with a brief review of First Quarter earnings followed by a question and answer session for securities analysts and media, respectively. The conference call is expected to last approximately 90 minutes.
A copy of the press release, financial statements and operating statistics, and financial charts will be posted on our Investor website
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in the Earnings Releases section atapproximately 8:00 a.m. ET on April 20, 2006. To access the conference call, please dial 1-800-255-2466 (or
212-676-5409 for international access) 10 minutes prior to the start time and ask to be connected to the General Motors conference call.
A taped replay of this call will be made available from 12:15 p.m. ET, April 20, 2006, until 12:15 p.m. ET, April 22, 2006. Please dial
1-800-633-8284 (or 402-977-9140 for international access) and enter reservation number 21260965 to access the taped replay."
It's a good question. I short sell when a company is almost sure to be toast, but the last few years short selling hasn't been necessary to make lots of money if one buys good companies- positive investing.
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