GM has a small problem

Apparently they are closing one of their most efficient plants in Linden
(spelling?), NJ but the workers will be paid into 2007. Meanwhile they lose
2 grand for every car they sell while the Asian imports make over a grand on
every car they sell. According to the report I heard on the news tonight,
they could eventually head into bankruptcy which would be disasterous for a
lot of 401K's.

I am sure there is a lot of blame to go around but as I drive my father's
2004 L300 wagon, it just seems to me that they could have improved it in so
many ways to make it better but instead they decide it is time to spend a
billion bucks for a new platform that "will solve all of the problems".
(quote intended to indicate I am being cynical). They could have saved a
lot of money by just fixing the current cars. For example rear leather
seats are way too low and incredibly uncomfortable, the steering feels numb
towards the center, and for a six it just seems to have no power. Plus when
it is hot out the ac evaporator fan is so loud it makes it sound like
someone is approaching in a truck. His dealer assures us that it is normal.
And the hood release lever feels like it will break off someday. Same thing
for the gas door lever. And who decided it was a good idea for the front
door lock switches to look like the rear door window buttons.

 

Actually, people with diversified 401K's shouldn't be hurt much...
except those few people foolish enough to have a high percentage of
their 401K in GM stock.
It's those employees and retirees with defined benefit plans, and
health care, entirely financed by GM that would be hurt.

...." they could eventually head into bankruptcy which would be
disasterous for a
lot of 401K's. "

 

The people who are foolish enough to have a high percentage of their
401K in GM stock aren't people with diversified 401Ks, so the the
"except" clause is meaningless.