The reality is that GM seems to be making the same mistakes all over again. Less than two years after the government's historic $50 billion taxpayer bailout of the Detroit automaker, now forever known as "Government Motors", the troubled company installed its fourth CEO, Dan Akerson - another "finance guy" to be sure, but far more concerning to GM's long-term health, also a creature of Washington
Automotive News piled on, suggesting that so far, Akerson's leadership has been defined by "hubris," panning reports that GM is planning to double Chevy Volt production from 60,000 to 120,000 units next year. Rechtin argues convincingly that even with the generous federal tax credit of $7,500, the Volt's steep $41,000 price will make it impossible to sell so many units. All this, despite the fact that the Volt - which Akerson touts as the "soul" of the new GM, isn't even making money for GM - since it costs upwards of $40,000 to build each car. Indeed, leave it to Government Motors to spend tens of billions of taxpayer dollars producing a product that doesn't make any money.
These are just a couple highlights read the whole article. It doesn't look good for GM.
I always figured that this would be the demise of the company. Government can't even run government correctly or efficiently, they certainly don't stand a good chance with a large corporation. I was against TARP and the bailouts and all of the stimulus' and government rebate incentives. Cash for clunkers was one of the most ass backwards incentives out there. I have absolutely no confidence in our government running private or publicly traded private sector industries. When they tell you that they have to pass a bill to find out what's in it, that tells me every little bit I need to know about how they conduct business.
Answer by QuinnMae at 10:08 AM on Feb. 5, 2011
Answer by pam19 at 10:13 AM on Feb. 5, 2011
My issue with trying to bring more electric cars to the showroom floors all for the sake of saving the environment, they still need to be charged with electricity, which is made how? Not to mention the batteries that the car has and disposal of those batteries causes pollution as well. If people want to drive them then great, but if there isn't a demand for them, especially at the price they charge for them, then it's just money down the drain. The fact that they offer a rebate tells me what I need to know about them.
Answer by QuinnMae at 10:17 AM on Feb. 5, 2011
Answer by jesse123456 at 10:21 AM on Feb. 5, 2011
Answer by skittles1108 at 10:27 AM on Feb. 5, 2011
Answer by pam19 at 10:29 AM on Feb. 5, 2011
Answer by itsmesteph11 at 10:56 AM on Feb. 5, 2011
Answer by Scuba at 11:41 AM on Feb. 5, 2011
Answer by yourspecialkid at 1:00 PM on Feb. 5, 2011
Next question overall
Can anyone recommend a psychic they like and trust?