CDS holders are forcing GM into Bankruptcy

geochem1st

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.......
I sat down with a group of executives today from one of the nation's largest banks (Geo - ears burning?) and heard their side of the story. .......

So, we bet on energy, because the infrastructure must be overhauled, and the winds of change are blowing across the energy landscape in America and that's a bright spot at least. And pharmaceuticals too, since everyone needs more drugs! :D However, that will only last until India or China get their act together.

Oh, that WAS you I saw in the Main Conference Room. I recognized you from your icon, funny hat... bushy hair.... nice LP. I was the guy in the white waiters coat getting all of you coffee and cigars.

I agree energy technology, pharmaceuticals, and medical technology are our future now. Too a much lesser degree communications and computer technologies, as we have given that know how away to China a few years ago through IBM and Sun Microsystems. Our timeframe is limited to make the change's necessary for us. The only saving grace is that China is on a relatively slow but methodical road to growth.

Its sad. From the industrial giant we once were to this..... good thing my father is not alive to see these days, he was from the WWII generation.
 

allbusinessjoe

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I am rather fond of my Oldsmobile Aurora. But I NEVER buy new, only used. How many Japanese, or European 4000lb V8 cars do YOU know of that gets 30mpg on the freeway at 70mph, and 18-20 mph in city? It is PERCEPTION and propaganda wars that GM is losing.

Its not perception at all. Its the new reality.

Thats part of what the foreign competition is doing right. They don't have to build 4000 lb V8's. Instead, they build lighter cars with smaller engines that have V8 performance.

Consider reliability. Take a look at an auto parts store like Autozone on a busy Saturday afternoon and notice the makes of the cars in the parking lot. I guarantee you will find an unproportional percentage of American made cars in the lot. (remember 'planned obsolescence?') Next, lets go to the classified ads in the local paper and look at resale value between the Oldsmobile Aurora and some of the popular import brands. Again, no comparison.

I'm not anti-American. I drove Corvettes for 15 years and thought they were great, well built cars that performed well. (especially for the money) I would definitely own another one. (Buying pre-owned of course. You take too much of a hit otherwise.)

But for the same reasons America lost television and textile manufacturing, the auto manufacturers failed to see the changes they should have made until now --- when its too late to do it without bankruptcy protection and billions in government money.
 

SKATTERBRANE

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Its not perception at all. Its the new reality.

Thats part of what the foreign competition is doing right. They don't have to build 4000 lb V8's. Instead, they build lighter cars with smaller engines that have V8 performance.

Consider reliability. Take a look at an auto parts store like Autozone on a busy Saturday afternoon and notice the makes of the cars in the parking lot. I guarantee you will find an unproportional percentage of American made cars in the lot. (remember 'planned obsolescence?') Next, lets go to the classified ads in the local paper and look at resale value between the Oldsmobile Aurora and some of the popular import brands. Again, no comparison.

I'm not anti-American. I drove Corvettes for 15 years and thought they were great, well built cars that performed well. (especially for the money) I would definitely own another one. (Buying pre-owned of course. You take too much of a hit otherwise.)

But for the same reasons America lost television and textile manufacturing, the auto manufacturers failed to see the changes they should have made until now --- when its too late to do it without bankruptcy protection and billions in government money.

I am talking about the PERCEPTION that American cars do not the the quality of Japanese cars, and that a 4000lb V8 car cannot get GREAT gas mileage. My car gets 30mph on the highway and 19-22 in town.....not bad? And that we do not buy US made cars is a crime in my opinion. People THINK that Japanese cars are better, which is not true in my experience.
 

SKATTERBRANE

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Its not perception at all. Its the new reality.

Thats part of what the foreign competition is doing right. They don't have to build 4000 lb V8's. Instead, they build lighter cars with smaller engines that have V8 performance.

Consider reliability. Take a look at an auto parts store like Autozone on a busy Saturday afternoon and notice the makes of the cars in the parking lot. I guarantee you will find an unproportional percentage of American made cars in the lot. (remember 'planned obsolescence?') Next, lets go to the classified ads in the local paper and look at resale value between the Oldsmobile Aurora and some of the popular import brands. Again, no comparison.

I'm not anti-American. I drove Corvettes for 15 years and thought they were great, well built cars that performed well. (especially for the money) I would definitely own another one. (Buying pre-owned of course. You take too much of a hit otherwise.)

But for the same reasons America lost television and textile manufacturing, the auto manufacturers failed to see the changes they should have made until now --- when its too late to do it without bankruptcy protection and billions in government money.

They may get the horse power, but they will NEVER get the torque. If you get enough revs, you can get the horsepower, I am into hill climbing performance myself. Here in the mountains the Japanese cars just can't get the fuck out of my way, because they cannot start from a standing start going up a 7% grade like I can. Sure, once they get up to speed they are fine, but if they have to slow down and start over again, they fall way behind.
 

River

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Oh, that WAS you I saw in the Main Conference Room. I recognized you from your icon, funny hat... bushy hair.... nice LP. I was the guy in the white waiters coat getting all of you coffee and cigars.<snip>
:lol:

Nothing like a good chuckle to start the morning! I've got a perfect mental image of that.
 

kernelofwisdom

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:lol:

Nothing like a good chuckle to start the morning! I've got a perfect mental image of that.

The dude in the white coat was classic! Nice digs they have up there; great view of Charlotte. I could even see the Arlington, a pink building that cost us plenty to help build.
 

geochem1st

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The dude in the white coat was classic! Nice digs they have up there; great view of Charlotte. I could even see the Arlington, a pink building that cost us plenty to help build.

If I knew you were coming we could have met. Both of the big banks, Wachovia (Wells Fargo) and BoA have nice HQ's there. I like Charlotte, nice town.

Oh here is a pic of me working a meeting. See the influence I have?:

200019827-004.jpg
 

kernelofwisdom

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One of our guys chided Wachovia for banking loan practices, like this:

When the sun is shining the bank offers you an umbrella but when the rain comes they take it back.

Actually, Wachovia has been a great business partner to us in many ways. They have a lot of reasonable, intelligent people working in the groups I've been exposed to. Including online here of course! :-D
 

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