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Old 10th December 2008, 19:49   #1
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Default GM apologises to US Public

The GM apologized to U.S. people for its lackluster performance and policies. They got huge amount from the US taxpayers as loan for reviving their fate. Will it have any effect on the fortunes of GM India? Because, in India, many are avoiding GM products just because of the parent US company's financial condition is worst among the auto companies.

Here's their letter:
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Old 10th December 2008, 20:29   #2
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beautiful letter!
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Old 10th December 2008, 22:20   #3
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Have you ever read the printouts handed to you on buses and trains by ..err...people who are not so financially well off? This looks like one of those.

Why should they be given a handout? So, the moral of the story is-Waste all the chances you get and become a total failure,write a nice letter,print it on good paper, hoodwink people into bailing you out,so that you can do it all over again.

Meanwhile, a hardworking,intelligently run company like Toyota, which also faces the same economic conditions/"perfect storm" as GM has to fend for itself?

What a twisted lesson-Failure makes you 18 billion dollars richer!
Americans are naive to think GM will mend its ways. Never mind, they are also the people who voted Dubya into power(I'm yet to meet one who admits to that crime in public)
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Old 10th December 2008, 22:51   #4
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Have you ever read the printouts handed to you on buses and trains by ..err...people who are not so financially well off? This looks like one of those.
My feelings exactly. This is legalized begging.

And the sad part is that they will get away with it.
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Old 10th December 2008, 23:02   #5
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and beggars cannot be choosers , hence
but still beggars who fly to beg in their private jets !
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Old 10th December 2008, 23:10   #6
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And the sad part is that they will get away with it.
Get away with all that, sure, but for how long?

When a company comes out in the open and says their 'quality' has been less than industry standards, the positive thing is that they are honest, but the negative thing - which weighs more - is that it makes you think about investing your hard-earned money in a product from such a company.

Sure, they might reorganize and still produce products - but - may-be they might still not produce products with same/better quality than that of say Toyota. Net - if you are consumer - why take chances? There are better options after all.

The only way out for GM would be to heavily subsidize their products and cut margins, but not sure ifs it's viable. Interesting times ahead.
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Old 10th December 2008, 23:11   #7
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I dont understand the intent of this letter being framed as an apology. What is the source that says GM indeed issued this?

The very acknowledgement that the recent past models have been lackluster seems quite unbecoming of a company og GM's stature.

Even if it has been involved in a bailout, why go out and create sympathy so that leads to buyers flocking to their showrooms. The buyer will obviously buy what he thinks is best for him, and by openly saying that our past products havn't been upto the mark, which were indeed marketed as path breaking products of their time, they are actually losing credibility of the current product campaigns. Who is going to trust them.

I do not beleive GM issued this.
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Old 10th December 2008, 23:22   #8
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at least this is ok

ford has been out their attacking every ford fansite/club/forum with lawyers!
Michigan's Mustang Headquarters
Ford Goes After Online Communities For Trademark Infringemnt

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Old 11th December 2008, 00:28   #9
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Originally Posted by 1100D View Post

I do not beleive GM issued this.
it did
washingtonpost.com

I heard it on radio earlier this week.
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Old 11th December 2008, 00:36   #10
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Ouch I have an Opel Corsa...What will be the impact in India?
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Old 11th December 2008, 00:57   #11
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Quote:
Originally Posted by Steeroid View Post
My feelings exactly. This is legalized begging.
Quote:
Originally Posted by greenhorn View Post
and beggars cannot be choosers , hence
but still beggars who fly to beg in their private jets !
Yeah right, who among us won't beg if it can get us US$ 18 Billions?
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Old 11th December 2008, 01:37   #12
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Here's something that I found.
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Old 11th December 2008, 02:28   #13
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GM is trying every trick in the book to get the bail out package. This has become very complicated. This is now about convincing the congress about their plans and their commitment to the Americans.

On the one hand, everyone agrees that the GM senior management made mistakes and cant really expect the tax payers to bail out.
On the other hand, these are big companies, which if closed down, would only add to the economic chaos right now. The unemployment rate has gone up in the US and expected to go up more in the coming months. Along with this is some support for THE AMERICAN THREE, people saying they are ok as long as they have a plan!
PLAN: These guys are CEO's - they can make a plan in a week. Who is there to ensure they follow the plan and make it a reality??

So, i dont like bailing them out - but i am pretty sure something like that will happen.

Overall, i just hope they restructure themselves to grow out of this and not find themselves in the same situation after 3 years.

Off Topic: I am sometimes amused that these things happenning in the US get so much attention. In India we have seen the government pumping money into so many things which have no returns at all. Yet we dont complain.
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Old 11th December 2008, 07:39   #14
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I dont get this american free market concept.

You make profit, you get your customers money, and tell the govt to get out of you way and money .
You make losses, you go crying to the govt how you lost your cash and the govt says, aww, thats ok, here, have some taxpayers money.

so much for a mature economic system. this sound more like an immature kid
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Old 11th December 2008, 07:50   #15
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Quote:
Originally Posted by mohit View Post
Here's something that I found.
IMO, that was an arrogant letter!

Quote:
Originally Posted by deep_bang View Post
GM is trying every trick in the book to get the bail out package. ...


Quote:
Originally Posted by greenhorn View Post

so much for a mature economic system. this sound more like an immature kid
Well, thats the US government for you
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