The fascist elite continues to blow smoke up our asses. They steal our money like Jon Corzine. They collude to produce dangerous and deadly products to the public. When they get caught,their captive regulators fine them a small percentage of their ill gotten gains. Almost no one goes to prison. If they do, they get less time than a small time marijuana dealer.
Obama pisses away tens of billions bailing out GM, then puts some dumb cunt in charge of things, and she destroys the company, kills people, loses money, but who cares, Obama made the fucking unions whole. One of the great business institutions of this country, the former GM, destroyed by minorities and women, just like every thing else. Obama, the king Midas of shit.
Submitted by Tyler Durden on 07/01/2014 09:44 -0400
GM sold more cars in June 2014 than any other June since 2007. Just imagine if GM had killed more people, recalled more cars, been busted for more lies, and had more congressional hearings. As GM’s head of sales exudes, this was “the third very strong month in a row for GM… in fact, the first half of the year was our best retail sales performance since 2008, driven by an outstanding second quarter.” We can only imagine the depths of FICO scores, terms of financing, and margin-crushing incentivization that dealers were subsidized into offering to sell this many ‘kevorkianesque rolling sarcophagus.” How did they do this? Government (+14%) and Fleet sales (+48%) – sound sustainable?
Submitted by Tyler Durden on 07/01/2014 15:28 -0400
US auto makers just printed an annualized 16.98 million sales – dramatically beating expectations for the 2nd month in a row and the highest since July 2006. As we warned earlier, the reason is clear (massive extension of credit to the lowest credit quality sector of the market). With the government also taking major fleet sales and sponsoring the subprime purchasers, what more do you expect? We can only imagine the mal-investment boom that this unsustainable burst will create in the next few months – and right as the Fed’s taper comes to an end.
July 2006 highs? Indicative of economic strength and confidence going forward?
I am just waiting for the car companie collapse to buy my next vehicle, possibly a nice newer repo. I have 9.5 years on my truck and 13 years on my wife’s CRV.We know we are pushing it with two older vehicles, but with all the new cars going out to sub-prime borrowers, I figure in the next year there will be some prime buying opportunities.
My Nissan truck has 140,000 miles and is still in good shape, the CRV has about the same, maybe I will hold on a couple more years, its just i like to have one newer and one older when possible. The kids car is a Jetta TDI 40+ mile to the gallon, 13 years old 150,000, runs great. The only problem with Volkswagens are parts are expensive as with the Nissan’s, but I love German engineering.I do not need a new car to show people who I am, I know who I am, the guy with the pickup truck when you need something moved.
It all comes down to cost (as tho you folks do not already know that). Everything with auto companies revolves around cost. They say quality/safety comes first, but that is bullshit. There whole system is set up to drive down costs, and to drive folks out of business. They replace those who go out of business, then repeat the process.
To supply an American auto company, you generally need to give them price decreases of 2.5+% per year, each and every year. Generally, after a few years of that, the suppliers go bust. In the interim, how do you think quality fairs? How many corners are cut? Even in their own companies, the pressure to get costs down are enormous.
The auto companies have huge numbers of departments – Production, engineering, design, quality inspection internal, quality control of suppliers, production planning, purchasing, finance, tooling, R+D, HR, etc ad infinitum. And each of these has distinct targets/measurements. And they are not interlinked. Production s responsible for volume and widgets per hour – which is in distinct opposition many times with quality.
They really are screwing the pooch. And will continue to do so. God help anyone who is reliant on those bastards for their livelihood.
“Bin Laden is dead and General Motors is alive!: Even as bumper sticker slogans go, it was a bit dubious from the start. Now it looks like it was actually the other way around.
The claim seemed bogus from the moment the angry mob in Cairo chanted “Obama! Obama! There are still a billion Osamas!” right up through this month’s resurgence of al Qaeda in Iraq.
And as far as GM goes, it appears that rumors of its survival may have been exaggerated as well. Despite life support efforts that included the removal of crushing debt from its books and infusions of billions in special future tax breaks, GM managed to lose one-third of its value in less than 2 years. And now it’s official: GM really hasn’t made a car in the past 20 years that hasn’t been recalled!
GM wouldn’t exist today butt for a U.S. government bailout; apparently the same can be said of al Qaeda in Iraq. Maybe we should stop bailing out losers at home as well in the Middle East. And here’s another idea: how about we focus on taking guns away from al Qaeda instead of U.S. citizens?” –MOTUS
The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.