How can GM sell over 8 MILLION cars and STILL not make money?

  • Thread starter Thread starter William K
  • Start date Start date
W

William K

Guest
They sold more than ANYBODY except Toyota and still lost money! How can the products sell so well and yet they still aren't financially viable?

Gotta be LABOR.
 
Yeah, those guys on the line are all secretly millionaires. My god, some people believe every piece of propaganda thrown at them.
 
Because of the outrageous pensions they are paying to retired workers and the outrageous wage they're paying their current ones.

All thanks to their union.
 
When they have inventory, but the competittion is selling at a lower price, you need to unload, which is what they've done, you're losing money.
Its hard for domestic mfrs to make money because of legacy costs, high labor costs, and excessive mgmt compensation. There is also a perceived lack of quality issue. Note, I said perceived, it may not be real
 
Their businesses are poorly managed. They need to cut expenses and wages if need be. I've heard that unions may make it harder in that department.
 
100 million dollar severance pay packages for management has not helped either.


Yes, unions demand alot for their workers, but be impartial on this. Add up the wages and benefits of management (non-union executives) and it actually outweighs the money used for the larger workforce of union members.
 
Back
Top