finallygotout

This couldn't have come at a bad time for people that work in this business, especially when xmas is round the corner. They were saying the Oshawa plant is going to see cuts of about 3,900

The comapny they say, is in a lot of debt and problems and the only way to get out of it, is to lay off workers.

MarkG

http://finance.yahoo.com/q/ks?s=GM

GM has debts of nearly $300,000,000,000 (I'm not sure whether that includes the pensions they're expected to pay either): this hasn't been much of a surprise to anyone who's been watching their financials for a while...

GillyC

Yeppers, it's a big thing on the BBC World News right now. They've been in trouble for a while, they've already slashed jobs in Europe and now they're working on their home turf. They have problems with over production, healthcare, pensions and loss of market share to Toyota and Nissan etc. People simply aren't buying their cars like they used to. Adapt or die I guess and there's a real chance of bankruptcy in the next few years if they don't get it right. If you've ever seen "Roger and Me" by Michael Moore which is all about his home town Flint, Michigan was affected by GM closing their plant you'll know how they work!

MarkG

From what I've read, in the last few years GM has basically turned from a car company into a pensions and healthcare company which made more of its money from car loans than actually selling cars. Not good prospects for competing against the Japanese (let alone the Chinese when they start building competitive cars with workers on a tenth of the pay).

love_it_here

I am sorry that people are losing their jobs but GM really makes me cross. I hope they stop manufacturing stupid gas guzzling cars like the Hummer and start make more energy efficient vehicles. We bought a Toyota because it offered us much better MPG and that is very important to us. I am sure this is a lot of the reason they have lost market share.

GillyC

Yes indeedy, that's probably a big reason why they ain't selling tanks, I mean cars, anymore. The world is changing and if people don't want to stop buying gas guzzlers for the environment's sake then at least they'll be doing it for reasons of cost. That's why I'm all for slapping tax on gas, it makes people think twice about using it thoughtlessly or buying uneconomical vehicles.

Tiaribbon

What like 6Litre Dodge Ram trucks you mean? Just for your information I pay the same amount for my gas as you do.



I have a huge stock trailer which weighs over 3 tonnes when fully laden with hay.

I need to be able to tow a hay wagon weighing more from the fields down to the barns and then back up the hills again.

I have to be able to move trees, posts, fencing materials.

I have 3 large dogs who need to visit the vet once in a while.

My very long driveway is not maintained by the Township - levelling and snow-plowing is done by me.

I need to be able to use my snow plow.

I need to transport a lot of feed for my livestock on a regular basis.



So to run my farm what do you suggest I buy?

Tiaribbon

Anyway getting back to the original post - yes I think it is a real shame about this. All those people without jobs is not much fun to think of.

CalgaryBlade

A couple of oxen

Grah

Truck on farm and truck jobs and build a garage near the edge of property to park a more fuel efficient car for shopping trips.....

Also garage could double as a school bus shelter if your kids get picked up and dropped of by a bus.

Only question is cost of 2nd car v do it all truck gas usage.

Only a suggestion

Atlantic Xpat

I suspect that this will not be the end of it for GM or Ford. Both companies are saddled with crippling pension liabilities from an aging workforce andas a result of years of union deals where they'd rather pay up than face strike action. Its also true that GM & Ford make more money on the bigger SUV's & Trucks than on the smaller cars so, short sighted management has led to them pumping out these in there 000's when the competition, particularly the Japanese have cornered the market in quality, fuel efficient & above all well built cars.

Overcapacity in car manufacturing is also a global problem - witness Ford closing Dagenham in the UK, turning Halewood into a Jag plant etc. Ultimately the infrastructure in plants and unfortunately people cannot be supported by the business and these cuts are going to happen. Sad, sad times for those affected but inevitable.

I got out of the industry in 2001 after 11 years with Ford in the UK. The writing on the wall was starting to appear then!

MarkG

It's also not just GM and Ford: a lot of older, large unionised companies appear to have offered their workers huge benefits that they can't afford to pay now the bill has come in. US airlines, for example, seem to have been queueing up to go bankrupt so they can offload their pension liabilities onto the government before restarting as viable businesses without those debts.

hot wasabi peas

Strapping and attractive farmhands.

Daveyboy_The_Red

not on the same scale, but we lost MG Rover here earlier in the year. The competition is just too good

Atlantic Xpat

Bit different, MG Rover was walking dead since it was sold to the Phoenix consortium back in 2000. The only suprise was that it survived so long!