[romeomidhun]

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:

[headers]

beautiful letter!

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)

[Steeroid]

Originally Posted by rippergeo

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.

[greenhorn]

and beggars cannot be choosers , hence
but still beggars who fly to beg in their private jets !

[spetnaz]

Originally Posted by Steeroid

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.

[1100D]

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.

[greenhorn]

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

[vivekiny2k]

Originally Posted by 1100D

I do not beleive GM issued this.

it did
washingtonpost.com

I heard it on radio earlier this week.

[hillram]

Ouch I have an Opel Corsa...What will be the impact in India?

[Samurai]

Originally Posted by Steeroid

My feelings exactly. This is legalized begging.

Originally Posted by greenhorn

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?

[mohit]

Here's something that I found.

[deep_bang]

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.

[greenhorn]

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

[headers]

Originally Posted by mohit

Here's something that I found.

IMO, that was an arrogant letter!

Originally Posted by deep_bang

GM is trying every trick in the book to get the bail out package. ...

Originally Posted by greenhorn

so much for a mature economic system. this sound more like an immature kid

Well, thats the US government for you