The Death Of GM

Fri, Nov 7, 2008

Down to Business

This might just be the first of our Big 3 American autos that will go under.  Bloomberg sites that GM has lost $73 billion since the end of 2004 and that it may run out of dinero by year-end without additional funding.

American auto manufacturers have been crapping out ugly looking and unreliable cars for the past 20 years and have let our Japanese auto rivals dominate the industry.

This is so embarrassing…

This post was written by:

Chad Cohen - who has written 51 posts on CFO Lounge.

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5 Comments For This Post

  1. Mike McD Says:

    That’s what happens when your whole sales pitch is predicated on irrational nationalism. If only something had happened in the 70s to show us that ultimately there would be a market for fuel efficient cars.

    I hope the new administration / congress is smart enough to let them fail.

    By the way love my Toyota and Honda - both of them drive like a dream.

  2. Chad Cohen Says:

    Couldn’t agree more…I also have Toyotas and Hondas. My first car was GM - a Cadillac Sedan Deville. What a piece of shit. My friends used to call it the Chadillac. hahaha

    Yes, I hope they let them fail. They deserve to fail and my taxpayer dollars shouldn’t bail these morons out. As iconic as American motor companies are, they have become obviously numb to consumer demand for better and more fuel efficient cars. F ‘em.

  3. Dan Says:

    We HAVE to let them fail… i hate it when our gov. throws money at failed business models. I feel sorry for the people of Detroit who are suffering, but feeding them for a few months with our tax dollars isn’t going to correct the underlying issues.

    Also, it doesn’t help when CEO’s show up to court in private jets that cost 20k per trip. I wouldn’t loan my neighbor 20 bucks if he rolled up to my house in a Benz…

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