GM Bankruptcy??

[CBOYLE15]

Way to go!

from my oil leak to China buying jets from Boeing.

Wow. I try and keep away from stuff made in China.

Just build a better car.

This was entertaining

[Regis]

Ok once again

GM major guard on both vehicles

1999 $50.00 Deductable

2001 zero Deductable.

1. Case leak

2. Rack leak

3. Master cylinder.

THese are facts I was under the car. NEVER PUSH FOR UNNECESSARY REPAIRS ON ANY CAR!

No one pushed anyone.

DO NOT WANT OIL ON MY FLOOR FROM ANY CAR!

Car should be dry just like my 1989 Riviera with a bullet proof 3800 motor.

That is a better motor than my NORTHSTARS.

Lets chat about the 2001 DTS for a moment.

3 SAFETY recalls. before I had the car 6 months

In addition

Rack replaced within one year.

Caliber leaking

Heated seats not working

Numerious messages on DIC

Bose radio replaced witin two years.

Front end vibration

I can get my book and go on and on

Trust me do not want to open up a can of worms .

Dealer offered to put new rings in the DTS. NO WAY WOULD I OPEN my MOTOR. Unless necessary (Just add OIL)

THIS IS "THE STANDARD OF THE WORLD???"

I was one of those Baby Boomers who left Cadillac many years ago and came back to "JUNK".

You guys are more forgiving about your Cadillac's than I am...That's fine but they are loosing market share. (fact)

GM will RIP unless they get the message.

Lets see if "no one here will critize me for stating what i believe"

If I were to get Both books and list the NECESSARY work on the Cadillac's from the day they were purchased new I would be here all afternoon.

Would not bother as most here are closed minded.

Have received help from this board.

Just wanted to Share my experiences.

Charlie,

The question that is begging to be asked is: Why in the world do you still have your two Cadillacs if they dissappoint you so much??? Because if your Cadillacs are the cause of irritation then shouldn't I think you a bit stupid for hanging on to them? Help me out here. You are a confusing fellow. A true Dr. Jeckle/ Mr. Hyde. One minute you appear to praise and the next minute you spew near hatred. Which is it?

Personally I would be glad to hear that you sold your Cadillacs and bought yourself a Lexus or two. The rest of us caddy owners will rest easy knowing that the Lexus discussion sites will be busy dealing with you in no time. You might want to advertise your cars in the For Sale section here. Good luck with your future Lexus.

[jschunke]

As goes GM, so goes the US. A cliche it may be

but not far from the truth. A buddy at work sold his

GM shares right smack at the recent bottom.

A few weeks before that he sold his Delphi stock

for pennies. GM made him invest in GM stock when

he worked there. When backruptcy comes management

will get bonuses to stay on while the small guys

wind up with nothing but memories.

The '96 Fleetwood sounds like a great ride - Corvette

engine, RWD. If it was't so darn large it would be a

candidate to replace my Olds. Wasn't the Fleetwood

more of a limousine?

[KHE]

The '96 Fleetwood sounds like a great ride - Corvette

engine, RWD. If it was't so darn large it would be a

candidate to replace my Olds. Wasn't the Fleetwood

more of a limousine?

The Fleetwood is the large RWD car built on the D-body platform - GM kept the Fleetwood Brougham for the 1985 and 1986 model years when the Devilles were shrunk and went to FWD. The car was renamed the Brougham/Brougham d'Elegance from '87 to '92 and '93-'96. the name went back to Fleetwood/Fleetwood Brougham.

I have driven large cars all of my driving career - it is all what you get used to.

[Ranger]

When backruptcy comes management

will get bonuses to stay on while the small guys

wind up with nothing but memories.

Oh how very, very true

[JimD]

....

When backruptcy comes management

will get bonuses to stay on while the small guys

wind up with nothing but memories.

Whoa, folks. Put the backhoe back on the trailer; it's way way too soon to cut a grave hole for GM.

GM will have a different 'look' in a few years, and you can bet they will still be selling product, paying employees, and providing benefits in 2010. It will just not be the same as it was in the 1960s or the 1980s or last week.

[CBOYLE15]

I still have them because they are paid in full. Once out of warranty they will go!

Hope that answers the question "begging" to be asked.

DO NOT FORGET MY POST WAS UNDER GM BANKRUPTCY.

I was not asking for advice but sharing my experiences and giving a opnion as to why I felt GM was in trouble!

I like GM (stock holder) and know they can do better.

Reminds me of the 60's and 70's where the big three got caught flat footed.

[Ranger]

....

When backruptcy comes management

will get bonuses to stay on while the small guys

wind up with nothing but memories.

Whoa, folks. Put the backhoe back on the trailer; it's way way too soon to cut a grave hole for GM.

GM will have a different 'look' in a few years, and you can bet they will still be selling product, paying employees, and providing benefits in 2010. It will just not be the same as it was in the 1960s or the 1980s or last week.

Jim,

you are correct. They will be paying employees......... less, and they will be providing (fewer) benefits. The employees, not managment will bear the burden. Been there, done that. You are also correct that GM will most likely survive. At least I hope so. I cannot imagine driving anything but a Cadillac.

[Marika]

Lower half of the great NORTHSTAR had to be resealed.

$50.00 not the issue.

GM will soon be replaced as the number one auto maker.

What does that tell you???

PEOPLE ARE NOT BUYING THEIR CARS (da)

I know a man who has been buying cadillacs since the early 1950's. He won't buy any other type of car, buys a new Caddy every few years, buys the top of the line model AND pays cash!! He's currently got an '05 STS, FULLY LOADED. He says he's never had a problem with a cadillac except for one car he had back in the 1980's. He couldn't wait to get rid of it. The secret to these cars is that they have to be driven hard. You can't let them sit around. He got a ticket in North Carolina recently while driving his '05 STS, the police helicopter tagged him at 137 mph. By the time he slowed down and the police car caught up with him, he was going a mere 90 mph. He takes that car out in the woods when he goes hunting. "Handles better than a jeep", he says.

I know a lot of people who have japanese cars and while they will never admit openly that they made a mistake buying one, they have to take their cars in for repairs more often than I have to take my '92 Caddy in, that's for sure.

[CBOYLE15]

Somebody must be passing out Kool-Aide on this site.

Who has the best sales?

General Motors will soon be passed as the number car maker... (FACT)

(REASON)... Because consumers are buying FOREIGN brands.

Back To the topic of thie Thread

"GM BANKRUPTCY???"

[jschunke]

Back To the topic of thie Thread

"GM BANKRUPTCY???"

Whatever you say, self proclaimed moderator.

Your cutting, surly remarks cleary demonstrate

what other members have recently been complaining

about.This board is for Cadillac enthusiasts,

not discontent, insulting hot-heads.

[CBOYLE15]

perhaps you should have the thread removed

"GM BANKRUPTCY"

If you are not interested in a honest discussion from owners as to why GM is failing!

HOW ABOUT SOME OF YOUR THOUGHTS AS TO WHY GM IS FAILING (loosing sales)

WITHOUT JUST BLAMING IT ON THE UNIONS!

[WarrenJ]

So as I'd been saying, regarding the Bank of America when I started this thread . . . . Please don't feed the trolls!!

I said that, didn't I? Somewhere . . . . I think . . . .

Regards,

Warren

[Ranger]

This has ben discussed before. Too bad BBobs posts have been removed.

http://caddyinfo.ipbhost.com/index.php?sho...488&hl=retirees

[Regis]

jschunke,

Don't sweat it. Save your breath.....or fingers. It's bad enough when someone like Charlie types WITH CAPS in a loud brash and annoying manner. But it's another thing when he is completely oblivious to the obvious. And that is that he is soap boxing negativity towards GM and Cadillac in a Cadillac enthusiast forum.... let me repeat that again.....in a Cadillac enthusiast forum. I could care less if he took his one man underwear staining session somewhere else but to have it on this Cadillac fan site takes balls and a disrespect for every member on here and the reason this site exists. To me it's like showing up to a Black Panther rally and spewing racial slurs.

I'd like to think most of us are a little more refined but I'll have to admit my imagination gets the better of me now and then as to what I'd like to see happen to him. But since that isn't going to happen all we can really do is ignore him. And that is probably the best thing to do.

[BodybyFisher]

That sinking feeling

Nov 18th 2005

From The Economist print edition

The world’s largest carmaker is at sea and floundering

FOR years General Motors (GM) was the undisputed titan of the world’s car industry, effortlessly dominating everything. Now, to suppliers, employees and pensioners it must seem less like a titan and more like the Titanic, holed below the water-line, sinking slowly by the bow to the sound of loud shocks and bangs as bulkheads give way, one after the other. The chief executive on the bridge, Rick Wagoner, can rush around and bark orders, but to little effect.

At its peak in the early 1960s, the giant controlled over half the American car market and set the standards by which most of the world’s manufacturing industry was measured. But it has been more than a generation since GM’s dominance went unchallenged and, despite billions of dollars invested in new factories and vehicles, it has suffered a relentless decline in market share (see chart below). Earnings have plunged, especially in its core North American market. The good ship GM scraped even more icebergs lately, the most recent being an announcement last week that it would have to restate earnings for 2001, due to improperly booked credits from suppliers.

Although this latest news is relatively minor (affecting a four-year-old financial report by only $400m) it had the sound of another groaning bulkhead and made people nervous. Since the announcement, GM’s share price has plunged even further. By close of trading on Wednesday November 16th, the stock was 22% below its level at the beginning of the month; it dipped again on Thursday, to an 18-year low. And for the first time since the carmaker’s last big brush with disaster—in 1992, when the company came within 40 minutes of bankruptcy—GM’s bonds are back in the junkyard. Analysts and observers are muttering again about possible bankruptcy. So loud is the speculation, in fact, that Mr Wagoner wrote to the company's 325,000 employees this week to deny that GM had any intention of filing for Chapter 11 protection from its creditors.

Exactly how and why things have gone so wrong is a matter of debate. Certainly, the situation was dire 13 years ago when a newly energised GM board flexed its muscle. They turned to Jack Smith, who in turn signed on Mr Wagoner, then barely 40, as one of his top lieutenants. The new management closed plants, cut the workforce, sold lacklustre component operations and seemingly restored much of the company’s former lustre. By the boom years of the mid-1990s, GM was again rolling up record profits.

Yet, despite a few exceptional years, sales continued to decline. Critics, such as Dan Gorrell of Strategic Visions, a Californian consulting firm, say GM concentrated more on finance and marketing than designing and making cars. Indeed, after the company’s annual meeting, Mr Wagoner conceded: “If we had a chance to rerun the last five years, we probably would have done a little more thinking about making sure that each product was distinctive and had a chance to be successful.”

GM paid a lot of attention to the development of its newest, full-sized sport-utility vehicles (SUVs), which will arrive in the showrooms early in 2006. But even the company’s bullish “car tsar”, the vice-chairman, Bob Lutz, admits that the potential market for these vehicles has declined dramatically with higher oil prices.

Misreading the SUV market might be bad enough, but GM also played down the need for a new generation of more fuel-efficient “crossover” vehicles. These are like SUVs, but lighter. The company scored a hit with its first models, such as the Chevrolet Equinox, but by the time the rest arrive Japanese competitors are likely to have taken control of the segment. GM refused to believe there would be enough demand to justify investment in petrol-electric hybrids. Yet again, it is now racing to catch up in a part of the market where the Japanese overwhelmingly dominate.

But products are only part of the problem at GM. Mr Wagoner was able to put a positive spin on GM’s bleak, third-quarter earnings report (losses are $3.8 billion so far this year) by announcing that the United Auto Workers Union (UAW) would grant unprecedented concessions, shaving $1 billion from the carmaker’s mounting health-care bill. He has turned his attention to attacking so-called legacy costs. The huge cutbacks of the 1990s saddled GM with nearly three retirees for every active worker. Yet the situation may only get worse in the short term, with more closures expected to be announced next month. This could amount to up to six factories being shut.

Then there is the worsening situation at Delphi. Made up of former GM parts operations, the supplier is struggling to stay alive under Chapter 11. Its chief executive, Steve Miller, has given warning that he may ask the bankruptcy court to overturn the firm’s current labour contract. If that happens, Delphi’s well-paid American workers could suddenly find themselves taking home a meagre $9 an hour. UAW leaders are threatening to strike if Mr Miller goes ahead. A walkout could disrupt the entire motor industry, but as Delphi’s biggest customer by far, GM would suffer the most.

Not everything has gone wrong on Mr Wagoner’s watch, of course. He has been successful in expanding abroad. The company’s European operations are slowly recovering and Brazil has bounced back. GM’s acquisition of South Korea’s Daewoo is looking like a bargain and is doing exceptionally well. Then there is China, where Mr Smith defied conventional wisdom at the time by being one of the first to open an assembly plant. Mr Wagoner has since ramped up Chinese operations, lining up a string of highly profitable joint-ventures and assembly operations. Ironically, it is the Buick badge that has connected best with Chinese motorists, and soon the brand may sell more cars in Asia than at home, where its staid image leaves many Americans cold.

Buick epitomises GM’s challenge as it seeks to improve its global operations while reducing its dependence on America. One of Mr Wagoner’s first steps as chief executive was to pull the plug on the ailing Oldsmobile division. He has repeatedly insisted that he has no intention of scuttling any more of GM’s eight surviving car brands. But with its market share only around 25%, it is becoming increasingly difficult to justify the economics of feeding so many car divisions with truly new and exciting products.

The mystery passenger

As if Mr Wagoner did not have enough to worry about, there is Kirk Kerkorian. The reclusive Las Vegas billionaire now owns 9.9% of GM, a stake which has so far lost him a great deal of money, at least on paper. The octogenarian investor is “a difficult taskmaster”, cautions Gerry Meyers, a former chief executive of American Motors and now a professor at the University of Michigan. If things do not turn around, he expects Mr Kerkorian “will make himself very visible”. Mr Kerkorian made that clear when he once mounted an ultimately unsuccessful takeover bid for Chrysler. He is reportedly angling for a seat on the GM board for one of his own lieutenants, Jerry York, a former Chrysler executive.

Along with factory cutbacks, Mr Wagoner is planning to sell off a large stake in the company’s profitable finance subsidiary, General Motors Acceptance Corp. Trying to predict his remaining options has become something of a parlour game in Detroit circles. Some are betting that GM will end up with no choice but to file for Chapter 11, now a popular move among American companies saddled with burdensome debts and high labour costs. Others give warning that such a move would simply alienate potential buyers of GM cars, making the situation graver still. Consumers will worry about warranties and the resale value of cars. What is clear is that GM’s options are steadily diminishing and its still sizeable financial resources are being drained away at a frightening rate. At the current pace, it may not have the momentum to reach a safe port.

[CBOYLE15]

If I was not a enthusiast I would not have 2 of them in the garage. If I did not like GM would not have a Riviera next to them. I would not have a large position in GM stock

If indeed GM does go Chapter 11 because of poor management including poor Engineering. I guess my GM warranty will be useless In which case I will bury both of them at the JUNK yard with all the rest of the JUNK. (Salvage value & Tax Deduction)

You can quote all that stuff about the Northstar being the best motor in the world and JD Powers ect. If you are not selling cars you have to step back and take a look at what you are doing.

The unions can only build the JUNK that the Engineers give them

Keep drinking that KOOL-Aide.

The Japanese and Germans are coming or should I say they have arrived.

They beat us at our own game.

[Bob D]

...Don't do it guys...

[Ranger]

Instead of "burying it in the junkyard", can I have it? I'll give you twice what the junkyard will.

[BodybyFisher]

GM survived the rice burner invasion that coincided with the gas crisis in the 70's. I have no doubt that they will do it again. It will take some restructuring, but they have good products, maybe they missed the mark with their SUV push, hey lots of companies make mistakes charting courses, look at HP, who is recovering from their merger with Compaq and Carly. Time will tell.

[Regis]

...Don't do it guys...

Bob,

Sooooo........how are the Lakers looking this year?

[BodybyFisher]

A lot better than the Detroit PISTONS << said like Groucho Marx

[Regis]

A lot better than the Detroit PISTONS << said like Groucho Marx

Bahahaaaaaa......good one. Almost got by me.....like a little blow by from the half seal.

[Bob D]

Oh they'll come the other side ok. They have a GREAT engineering base. (Being one myself, BS Cal Poly '74, MS Stanford '78) I claim to be a fair judge of that. They just have to get beyond management malpractice in recent years.

That, the obstinacy of the unions and the extremely unleveled playing field that our politicians have set up for American manufactures have been the cause of GM's demise. Lets all hope they pull out of this dive, level out and fly straight.

PS; Kger, I really am more of a Sacramento Kings fan. As far as the Lakers go, the only thing I give them credit for os getting Vlady Divats (our former center)

[CBOYLE15]

The bottom line is sales

Yes GM survived the early invasion (Remember the Vega how about the Cimiron) you got to beat them back wth a BETTER product.

Don't forget I was one of the Baby Boomers that left Cadillac many years ago and came back. Not happy with what I came back to.

In the 60's it was

1. Chevrolet

2. Ford

3. Plymouth

Chrysler now owned by the Germans.

Where is CHevrolet now ??