If I was in charge of the auto industry, I’d make sure that the consumer was able to get one of these badass babies.
mmm hmmmm
Posts Tagged ‘auto industry’
GM auditors raise doubts about viability
by Phantom Ace ( 24 Comments › )Filed under Economy at March 5th, 2009 - 2:13 pm
We gave GM Billions for nothing. Their Auditors are still saying they will have to into bankruptcy.
GM auditors raise the specter of bankruptcy
DETROIT (AP) — General Motors Corp.’s auditors have raised “substantial doubt” about the troubled automaker’s ability to continue operations, and the company said it may have to seek bankruptcy protection if it can’t execute a huge restructuring plan.
The automaker revealed the concerns Thursday in an annual report filed with the U.S. Securities and Exchange Commission.
The corporation’s recurring losses from operations, stockholders’ deficit, and inability to generate sufficient cash flow to meet its obligations and sustain its operations raise substantial doubt about its ability to continue as a going concern,” auditors for the accounting firm Deloitte & Touche LLP wrote in the report.
GM has a bad business model. They have too many brands, dealers and cars people don’t want. They need to go into Chapter 11 and restructure. I want GM to survive for the sake of American production and workers. But real change is needed, not throwing money at a bad model.
SUVs at altar, Detroit church prays for a bailout
by Phantom Ace ( 11 Comments › )Filed under Economy at December 8th, 2008 - 2:00 am
This is sad. I bet Chucky would be upset.
DETROIT, Dec 7 (Reuters) – With sport-utility vehicles at the altar and auto workers in the pews, one of Detroit’s largest churches on Sunday offered up prayers for Congress to bail out the struggling auto industry.
“We have never seen as midnight an hour as we face this week,” the Rev. Charles Ellis told several thousand congregants at a rousing service at Detroit’s Greater Grace Temple. “This week, lives are hanging above an abyss of uncertainty as both houses of Congress decide whether to extend a helping hand.”
Desperate times call for desperate measures.
