One bad product decision after another led to the downfall.
A good sketch of many poor decisions, cars are not soap.
Professor Elam
Accounting & Investing Info for San Antonio A & M
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5 responses to “GM Timeline”
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According to the article, in 1958, “The senior GM management team begins its disastrous shift in focus away from product engineering and toward financial engineering.” So, 51 years later they have to finally pay for this bad descision. To me, it makes sense to appoint Edward Whitacre Jr, to lead GM with his good financial record of merging 6 companies thus making AT&T the telecommunications giant. He is a business man and he is good with running a business, that’s what GM needs right now. Not sure if he can merge anything with GM, he might just jump in with the discussion on how much the government will take from GM. The good news or bad news, depending on your point of view is that key business decisions will still be up to GM, not the Government.
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Marcos
too late, Barney Frank alrady intervened no a decision about a parts warehouse in MA, Barack told GM they were not leaving Detroit and its high tax environment to move to the suburbs, gee when will they have time to make cars I wonderLikeLike
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“Who said, GM was to big to fail?” The fact that GM filed for chaper 11 in the state of New York is the reality of massive failure. That doesn’t seem to be a remote idea. A Day late is a dollar short would be an understatement referring to GM. It’s years late and billions short! It has came to a reality that the only reason it is going to operate is from the federal dollar. This wil require stressful sacrifice for General Motor’s workers and dealers. And will test the chance for the U.S. tax payers to ever recover their current investment in the corporation. The ability to survive dramatically changed the reconstruction effort with it’s managers and production philosophy. If GM takes drastic measures to begin producing high mileage vehicles and make car designs that appeal to the general car buyers then they may emerge from bankruptcy court process and become a stronger market leader. In the early 60’s about 50% of vehicles sold carried the GM brand!
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GM appeals to lots of buyers, you should see how many people in Western States drive suburbans, where distances are long between towns. That just does not appeal to Obama.
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Actually not much casrifice on the part of the UAW that ended up owning the company for making continued contributions to the Dem party, they also own a fat preferred stock that pays right into their bank account, this is not how bankruptcy is supposed to work, courtesy of our constitutional law president
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Professor Elam 
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