Yea i noticed that , I have alot on my mind right now with finally moving and all.

 

GM suspends payments into 401K plans

DETROIT (Reuters) - General Motors Corp is suspending matching payments to employee 401K plans as of November 1 and continues to assess its staffing needs as part of efforts to conserve cash amid a deep downturn in sales, the automaker said on Thursday.

GM spokesman Tom Wilkinson said the company could reinstate matching payments into the 401K program if business conditions improve.

The No. 1 U.S. automaker, which has lost $51 billion over the past three years, said in July that it would raise $15 billion in liquidity through 2009 through a series of steps, including a 15 percent reduction of salaried workers in North America.

GM said it did not have a final tally for its salaried workers who have taken early retirement and buyout packages. It declined to comment on whether it would need involuntary layoffs to meet the target for workforce reductions.

GM's U.S. sales through September were down 18 percent from a year earlier, hit by tightening credit, a slowing economy and a housing market slump, and its ability to ride down the downturn has come under increasing scrutiny.

(Reporting by Soyoung Kim; Editing by Lisa Von Ahn)

 

I have never posted squat about your constant bashing of GM and Chevrolet. I have even tried to help you on issues you had with your HHR.

But the past is the past. History is to be learned from, not dwelled on.

You moved on and IMO you now really don't have any room to be coming in this forum with the intent of bashing the vehicles and or company, that make THIS forum such a great place.

I really don't care if you want to keep coming to the forum, but I really don't care to read your anti-GM/Chevrolet/HHR rants. It's over, you sold it, get on with your life. All this negativity can't be healthy. Peace!

 

ChevyMgr, you have been helpful and that was always appreciated. Considering that this thread is about GM's troubles, I don't see why one cannot express their opinion or observations freely. You have to be able to take the good with the bad and the bad with the good.

If you saw any of my posts within the last few weeks you would not find anything negative towards the HHR as a model line. In fact you would see positive comments made regarding HHR's being good cars, in posts I made in a thread or two. It is true my HHR went to the dealer service department a grand total of 10 times in the 16 months I owned it, but never have I taken that and used it to paint with a broad brush the entire HHR model line.

I suppose this thread will be locked soon, but not because of me expressing an opinion in one post but rather because the reactionary way in which the discussion has begun to slide off-topic.

So with that having been said, Back on Topic--> More GM Layoffs and Closures: Discuss...

 

I wouldn't have posted about negative comments if this was the only time I had seen you post these type of sentiments.

I hope not.


As it should be.

 

Man, I'm glad you guys worked that out!
Thanks for being civil.

I'm sure the subject alone gets some people a little upset, understandable.

 

Nope. They were spending more than FHI was worth developing new cars. The B9 Tribeca was originally going to have a sister vehicle called the Saab 9-6x. In the end, GM sold its interest and used the money to bailout Delphi's pension system.

 

Perhaps but GM only had about a 21% share of Fuji. As for the B9 Tribeca-- butt ugly. That vehicle IMHO was a mistake. Toyota recently upped their stake in FHI to 16%. I watched the documentary "Saving GM" or similar title awhile back and of note was that GM is the brand of choice in China, actually a status symbol there, especially Buick. But the world economic downturn is going to hit them in China as well, as the demand for Chinese consumer products dips and has a cooling effect on China's economy. Only an educated guess, but I could see it happening since China's economy relies so heavily on global demand for their exported consumer products.

The Chevy Volt does hold promise for GM, though. And I'll publicly apologize here for the snide remarks I made in the Volt thread about GM, it was uncalled for. I just hope that the Volt can be a success, because if GM can be a pioneer in plug-in electrics/hybrids that could be part of the road to recovery. Time will tell, but the overall economy needs to recover in order for the demand to be there for a car like the Volt to go mainstream.

Peace.

 

I really hope that GM can survive the loses that have been incurred from the economic downturn. They really need to be able to survive these trying times and be able to finish the development and release of the Volt. The GM/Chrysler merger is another animal too. I hope both these Companies can sustain huge losses that are occurring from this...(Gulp)... recession!