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GM's response to the congressional ultimatum , just released, outlines a need for $12 billion in loans, plus potentially $6 billion later, and plans to reach profitability by pursuing "alternatives" to the Saturn brand and making Pontiac even less desirable. On the surface, the GM plan seems less ambitious than the Ford plan , though that may just be because GM already has an electric car coming down the pipeline. Their request for $12 billion seems relatively low given their cash situation, but there's a nugget hidden in the release where they mention an additional $6 billion if the market manages to tank even further . The other big news comes under the "Market and Retail Operations" section of the release which states: In the U.S., GM will focus its product development and marketing efforts on four core brands – Chevrolet, Cadillac, Buick and GMC. Pontiac will be a specialty brand with reduced product offerings within the Buick-Pontiac-GMC channel. Hummer...
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November car sales numbers are coming in and they’re what you expect them to be — horrendous. Ford is down 31% month-to-month with last year. Toyota fell even further at 33.9% . That's successful compared to GM's 41% drop . Even Honda is down 31.6% . What's going on? Carpocalypse Now is going on, that's what! The entire auto industry is screwed at the moment, and it's not just the U.S. automakers. Since Toyota’s and Honda’s numbers are in the crapper it points to what we've been saying from the start. This is less an issue of a problem with our dear domestic car makers and more of a problem with a lack of desire on the part of consumers to buy from any company. People have either already lost their jobs, ot they're scared of losing their jobs — in addition to their houses and their way of life. When people are that scared, they just don't spend money. It's as simple as that. It also doesn't help there's little in the way of accessible...
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GM announced today they will close their air transportation service center at Detroit Metro Airport, sell four of their planes and transfer whatever plane/s they decide to keep to another operator in order to at least appear frugal. This follows Planegate Part One and Part Two , which we didn't go over so well. Having a corporate jet is a justifiable expense for a large, mutli-national organization but a fleet of jets operating as your own private airline is a perk that doesn't hold up well after media scrutiny — especially when Saint Alan decides that a company that makes cars should drive everywhere . The media may appreciate this but the people who work for the Not-So-Big Three's jet companies are going to have a crappy Christmas. Press release below GM Ceasing Corporate Aviation Operations DETROIT — GM today announced that it is ceasing operations at General Motors Air Transportation Services (GMATS) at Detroit Metro Airport. Due to significant cutbacks over...
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Although they're now building some serious hardware, the friendly futurists over at Popular Mechanics have provided some historical insight with a list of the ten autos responsible for thrusting GM into Carpocalypse leading role. Before the company got in the business of making PR gaffes , GM was known for just making cars and trucks. We think Pop Mech was being charitable in only listing ten, including the crowd pleasing Cadillac Cimarron . GM, you've got a bad reputation. And it isn't just talk, talk, talk. [ Popular Mechanics ]
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We just received a hot-off-the-wires report from the WSJ that the UAW is currently in talks with some of the not-so-Big Three to kill the "Jobs Bank" program. The program, a bane of contention by everyone but the UAW and it's membership since the inception of unionized labor at automakers, basically pays workers when they're not working. Good for the membership? Sure. Good for the automakers? Not so much. Good for everyone's image? Not in the least. Although UAW officials and their allies counter the banks have been an effective way to keep a flexible job pool available and allow the companies to implement new technology while reducing overall numbers responsibly. More view that as complete hogwash. Not much is known as of yet about specifics on the discussions. As of now we've only got a wire service report from the Journal telling us: "The United Auto Workers union is in talks with some of Detroit's Big Three auto makers to stop a program that pays idled...
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In yet another stunning display of GM's critical lack of understanding of the importance of transparency when asking for public assistance has asked aviation regulators to block the public's ability to track the company's leased private planes. When will this company learn a little thing called "message?" When asked about the request to the FAA, GM spokesman Greg Martin declined to discuss the reason, only saying "we availed ourselves of the option as others do to have the aircraft removed." The move comes after the automaker was criticized for flying CEO Rick Wagoner (pictured above demonstrating a landing maneuver) in a leased Gulfstream Aerospace G-IV jet on November 18th and 19th to testify in front of Congress for a $25 billion loan to save the American auto industry. While the move is something they're "allowed" to do, it's monumentally stupid given their desire for a bridge loan to save the company. Congress , the media and the public...
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Tiger Woods and GM will part ways after five years, a reported $40 million and a lot of Buick Enclave commercials . The press release from GM goes out if its way to suggest any link to what's happening in Washington, D.C is "purely coincidental" so, you know, feel free to blame Tiger's knees instead. But it's weird to see GM claiming the decision came after a search for "budget efficiencies" yet having nothing to do with the lack-of-federal funding. We do have to admit, Tiger Woods was a valuable acquisition for Buick, letting them appeal to the older, affluent golf-watching demographic and younger, affluent multiracial golf-playing demo simultaneously. GM hasn't announced a replacement, but we hear John Daly will do it for free beer and hot wings . Press release below the jump. GM And Tiger Woods Announce End To Endorsement Deal DETROIT, MICHIGAN – General Motors and Tiger Woods announced today that they will conclude their endorsement deal effective...
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Saturday Night Live took on the not-so-Big Three's congressional testimony and "jetpooling" incident in this weekend's "cold open," and unfortunately fell into the trap of shamelessly mocking tired stereotypes. Which is sad, because we'd watched SNL take on a new level of relevancy as of late thanks to the uber-adorable Tina Fey and an election season devoid of real political commentary. That's not to say watching Will Forte as Rick Wagoner, Darrell Hammond as Bob "The Builder" Nardelli and Jason Sudeikis as Alan Mulally isn't funny, but hearing about quality issues on the upcoming Ford Fiesta and a Cadillac XLR-V is a bit ol' and busted if you ask us. Now quality issues on a Chrysler 300C? That's comedic genius. But hackneyed and tired jokes aside, we were more concerned with further evidence the automakers have done the world's worst job of getting their message out. newVideoPlayer("/SNL_Open.flv", 506, 423,""...
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Saturday Night Live took on the not-so-Big Three's congressional testimony and "jetpooling" incident in this weekend's "cold open," and unfortunately fell into the trap of shamelessly mocking tired stereotypes. Which is sad, because we'd watched SNL take on a new level of relevancy as of late thanks to the uber-adorable Tina Fey and an election season devoid of real political commentary. That's not to say watching Will Forte as Rick Wagoner, Darrell Hammond as Bob "The Builder" Nardelli and Jason Sudeikis as Alan Mulally isn't funny, but hearing about quality issues on the upcoming Ford Fiesta and a Cadillac XLR-V is a bit ol' and busted if you ask us. Now quality issues on a Chrysler 300C? That's comedic genius. But hackneyed and tired jokes aside, we were more concerned with further evidence the automakers have done the world's worst job of getting their message out. newVideoPlayer("/SNL_Open.flv", 506, 423,""...
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Saturday Night Live took on the not-so-Big Three's congressional testimony and "jetpooling" incident in this weekend's "cold open," and unfortunately fell into the trap of shamelessly mocking tired stereotypes. Which is sad, because we'd watched SNL take on a new level of relevancy as of late thanks to the uber-adorable Tina Fey and an election season devoid of real political commentary. That's not to say watching Will Forte as Rick Wagoner, Darrell Hammond as Bob "The Builder" Nardelli and Jason Sudeikis as Alan Mulally isn't funny, but hearing about quality issues on the upcoming Ford Fiesta and a Cadillac XLR-V is a bit ol' and busted if you ask us. Now quality issues on a Chrysler 300C? That's comedic genius. But hackneyed and tired jokes aside, we were more concerned with further evidence the automakers have done the world's worst job of getting their message out. newVideoPlayer("/SNL_Open.flv", 506, 423,""...
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Saturday Night Live took on the not-so-Big Three's congressional testimony and "jetpooling" incident in this weekend's "cold open," and unfortunately fell into the trap of shamelessly mocking tired stereotypes. Which is sad, because we'd watched SNL take on a new level of relevancy as of late thanks to the uber-adorable Tina Fey and an election season devoid of real political commentary. That's not to say watching Will Forte as Rick Wagoner, Darrell Hammond as Bob "The Builder" Nardelli and Jason Sudeikis as Alan Mulally isn't funny, but hearing about quality issues on the upcoming Ford Fiesta and a Cadillac XLR-V is a bit ol' and busted if you ask us. Now quality issues on a Chrysler 300C? That's comedic genius. But hackneyed and tired jokes aside, we were more concerned with further evidence the automakers have done the world's worst job of getting their message out. newVideoPlayer("/SNL_Open.flv", 506, 423,""...
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If you hadn't noticed yet, Tweedle-dee, Tweedle-dumb and Tweedle-how-stupid-are-you-to-take-a- fleet-of-jets and their scary Op-Eds haven't done anything to Save GM or either of the other not-so-Big Three. The Senate is not pleased with their behavior. But here comes Mitt Romney, "favorite son" of Michigan. The guy who took tons of auto-exec money and said this before the Michigan primary: galleryPost('mittrompander', 6, 'Do You Think He Is Saying Anything About Bankruptcy?'); "I want to bring Michigan back. I am not willing to sit back and say 'too bad for Michigan, too bad for the car industry, too bad for the people who lost their jobs, they are gone forever.' I will not rest when I am president of the United States until Michigan is brought back." January is a long time ago in Romneyville as Mitt said this in the NY Times earlier this week: IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday...
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newVideoPlayer("/Ackerman_Jetpool.flv", 506, 423,""); New York Congressman Gary Ackerman feasts upon a buffet of "delicious irony" as he asks the CEOs from the Not-So-Big Three to perhaps save some cash and fuel by using a single jet together rather than individual private jets from Detroit to D.C. to beg for bailout dollars from the Feds . We even hear Reagan National's got a diamond-festooned runway set up just for jetpoolers. [ CNN ]
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In attempts to tap their customer base for assistance in avoiding this Financiapocalypse , GM has emailed an unknown number of their product owners in an effort to get them to speak out to their local congressman regarding the pending bridge loan. We've intercepted one of these emails and have it posted below the jump. Jalopnik Snap Judgement: While the initial flavor of this campaign is tacky, it might prove to be a good move after all. GM still has a fairly rabid customer base that hopes to be driving The General's products in the future and this is a way they can secure that dream. Raising customer awareness of current pressing issues while garnering support for near-zero dollars? GM doesn't have that many options left. Anyone who bought a Chevy Equinox when there are, possibly, millions of better cars out there certainly wants to stick by the General. Here's the email in full: Dear (name removed), You made the right choice when you put your confidence in General Motors...
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newVideoPlayer("/Obama_Hybrid_Cars_2.flv", 506, 423,""); Barack Obama took time away from talking about his mother-in-law and a college football playoff system to talk about the automaker bailout in an interview on CBS' 60 Minutes . While admitting Detroit needs help, he said it's important to make sure it's conditioned on the stakeholders (labor, suppliers, execs) coming up with a plan for a sustainable domestic auto industry as opposed to just giving out "a bridge loan to nowhere." Oh, yes, he went there. This was taped before the scary GM video , which at the very least we're hoping, convinced him to buy a Save GM t-shirt .
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