GM Hits 58 Year Low

Yep - thats what America is about these days - Betting that an American company will fail and making a profit on it!

It is painful to watch GM and Ford to strugle to survive.But what do we expect.The greedy unions want evrythig free and some,the congress pounding on polution,the customers buying foregn cars,the Arabs want fortune for the oil,the politiciand don't want to drill.The results are very predictable.The same policies will produse the same results. It is time to wake up and work to help the automotive and other industries to survive.Regan did it. Democrats already killed the minig industry,they killed the oil industry,they killed the lumber industry and slowly killing the automotive and othe industries.But the have a guts to blame republicans for shipping the Jobs overseas. And it appears that we need more democrats.Then do not complain when more and more industries are going under or ship our jobs overseas.Who is doing it.A clear answer is WE.We elect our representatives. Don't complain just do what is right for American workers,engineers,managers etc..Vote for the people who are willing to help our industries thus helping everybody.

I see this as an opportunity to buy. It will back to $10 by the end of the month.

Stop outsourcing, by outsourcing you are killing American's buying power. Stop importing products, quality goods can be built this land with an affordable cost and retain the ability of consumer confidence. Not a single corporation survived by the action of outsourcing. Stop all MBA and CPA programs, their program is not working well. Please go back to the drawing board, create job in here and let the people buy your products.

I really do not feel for GM. The last GM vehicle I ever owned was a new 1967 Grand Prix. It was a lemon from day one and niether the dealer nor GM would back up their product. Never ever have I given another thought to purchasing a GM product. Never will. Karma is in play here and GM's Karma is not good but well deserved.

I have a question for anyone who knows... Since it is quite possible for the Dow to keep falling, like 500 per day... I just wonder what happens when it reaches zero? Would that be game over? Or will we just start looking at negative numbers? Kris Working hard at www.sccworlds.com

As an engineer with many years of experience, I can tell you with absolute certainty that GM makes a high quality product ... and yes, they provide one of the best warranties in the auto business. So, what's the problem with GM? It's the same as everyone else in the business. They are in the middle of a "perfect storm" to use a much overused phrase. Dramatically higher fuel prices will destroy any auto makers product line. I will admit that GM (and everyone else) was slow to adapt ... but the incredible rate of change in fuel and commodity prices is unprecedented in our time. General fear in the public (yeah, its real) along with credit uncertainty is the latest one-two punch. When it rains, it pours. General Motors will survive, but they will be smaller, leaner and much smarter. Their stock price is looking very attractive even in this current dog of a market. John P.

What's terrible about all of this is that Congress has recently approved a $25 billion loan for the auto industry. Now that was a wise investment.

Steve.. You sound like an idiot! Maybe if you would buy a newer model GM you would get to experience and enjoy the excellent quality they achieved. At the same time you would be helping a truly great American automobile company!

steve I agree with Ron you are an Idiot... I think you and your car should move to where your car is from and help their econmony... We do not need negitave people like yourself(and your loud dumb down american mouth) in this american buying country. What ever happen to human error or are you one of the choosen ones. If so please except my aplogy. Oh that's right I would have to explain myself about the choosen one.. because refering to loud dumb down american mouth you would not understand. I believe in the american dream and their products, you have just been brain washed into beliving someone else's dream.. so go live that dream and spare america with your mouth and car.

One thing for certain is that the economy and the govt will never be the same again. The choices that are being made are reactive to something that no one understands. This is a dangerous situation. It makes you wonder if this is somehow orchestrated or just chance. I do know that with the fear of financial insecurity everywhere it is easier to ramrod unrealistic laws down our throats. The only security that exists in life is in oneself by being true to yourself. Can anyone fathom how much 700 billion dollars or 85 billion dollars is? Sounds like an open checkbook

To pay off the national debt, would it be a good idea to have the 26 to 35 million illegal immigrants become legal or something, in order for them to start paying taxes and start contributing to the debt. If 26 million illegal immigrants paid an average of 900 dollars a month, that would add over 2 TRILLION dollars to this countries tax revenue. Since these people were not paying taxes to begin with we could just throw that money at the debt until it is completely paid off. Just a thought, and wanted to know what you thought.

When times are tough, big balky conpanies get taken out by fast moving startups with lower costs, dedicated employees willing to work longer hours for less to see their companies make make it. 60 Minutes on Sunday showed that there are 5 companies in Silicon Valley working on battery powered vehicles nonstop. They then interviewed Bob Lutz, mid 70's with his own private jets and personal helicopter who said that the Chevy Volt will be a family car debuting in 2010 at $40,000 which at that price will still lose money. I wonder who has more incentive to succeed. I wonder where the technology advances to make the electric vehicle viable will come. I'm betting that silicon valley will have the edge over Detroit on this one.

A.J. hits the nail on the head. The Dems want to complain about jobs going overseas. The truth is companies pull up stakes and go where labor is reasonable and taxes are fair. There is truth that some businesses would take advantage of off shore opportunities regardless but most companies understand who butters the bread. I grew up in a mining area and in the 70’s the labor unions decided to strike for more money and more benefits. Not too many folks remember what the dollar could buy then but the common laborer made more than 13 dollars an hour. Skilled labor was close to 20 dollars an hour. The mining company couldn’t afford to stay in production (iron ore) and pulled up much of their stakes and moved to Brazil. They continue to have some interest where they were but more is overseas. They were labor and tax poor. GM won’t fold the employees won’t allow it, the country won’t allow it, and now may just be a good time for a gut check and buy some stock. They will reorganize and find the products to appeal. I am going to toss a few bucks their way. Chrysler came back from the dead, so will GM and Ford.

FYI: for those of you bad mouthing me and telling me to go to the country I bought the car from, well I am already living there and it is the USA. All but one of my vehicles over the last 40 years have been made in America. GM products are of poor quality. I have known far to many people with GM products that wish they never bought from GM. I am not and idiot, just a smarter consumer than you GM supporters and most likely GM share holders who's stock value has plummeted. Enjoy your GM (G)junk (M)otors.

The American consumer has unfortunately driven the death nail in the American automobile industry because the big three has a long history of producing inferior products to those of other companies (yeah, Toyota, Honda and others). Next they put all of their efforts into answering the demands of the American consumer to buy progressively bigger and bigger vehicles. Then when the American consumer figured out that it was costing them a hundred dollars to put a tank of gas into that monster in the driveway they quit buying them. The big three has tens of thousands of vehicles that nobody wants. Bill Heard automotive group didn't close because they had more customers than vehicles to sell. They closed because nobody wanted the products they offered. Yes, the unions have a huge part in this too. Somebody with a high school education from the pitiful Detroit school system should not be paid $20 - 30 per hour to build cars. Nobody wants the laborers from the rust belt because they are overpaid for what they do. They lack the education and job skills to do anything but assemble stuff on an manufacting line. Is it surprising that sooooo many American companies left Michigan, Indiana, Ohio and Illinois to move to Alabama, Georgia, South Carolina and other parts of the South. Those that didn't move to the South moved off shore to take advantage of Asian or Mexican labor (ie: cheap labor). I would hate to be in management of one of the big Three. The questions are "far above their pay grade" (in spite of how many millions they are being paid).

Sharon S. I have to comment on your response to Steve. First- maybe you should learn how to spell, go back to school. how can he except your apology? I think you mean accept. As for the comment about go to where you bought your car...... You do know that a Toyota Camry, for example, is built in Indiana? So if he buys a CAmry, under your views, he can still live in America? The Big 3- deserve what they get. The history of poor quality, poor fuel economy, and inferior service has made them fall to the deserved place in the auto market. Before you attack me, I own 2 U.S. company made cars. Jeep and Dodge. The U.S. auto companies need to begin to focus on the need for alternative fuels, fuel economy and green production. These are all areas the foreign companies are leading the U.S. I will most likely buy U.S. next purchase, but will look for what fits my needs best.