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GM Recall Total Nears 13 Million Worldwide

hank
edited May 2014 in Off-Topic
HAUL (don't drive) your 2014-2015 truck to the dealership.

"GM said that 477 trucks have steering problems that can cause accidents. Truck owners were notified by phone, overnight letter and via the OnStar in-vehicle communication system that they shouldn't even drive their trucks to dealers for repairs. GM will send a flatbed truck to pick up the vehicles, which include some 2014 Chevrolet Silverado and GMC Sierra pickups and some 2015 Chevrolet Tahoe SUVs."

http://www.kwch.com/GM-s-recall-total-nears-13-million-worldwide/25992758

Comments

  • JohnChisum
    Push, pull, or drag that GovMo vehicle to your nearest dealer and buy another brand. Louis Chevrolet must be spinning in his grave.
  • hank
    edited May 2014
    Reply to JohnChism

    Exactly. And if you own GM through a fund ..... guess who's paying for that tow truck.:-)
  • JohnChisum
    Yep, that's the bad side of it.
  • cman
    Shareholders aren't likely the ones paying for it. They may lose money in their betting against each other based on the problems at GM but that isn't going into GM.

    What pays for it will be the paychecks of people who lose their jobs as projects or divisions get canceled, or their wage increases deferred for another year to get the balance sheet in order from the very bean counters who created these problems.

    Shareholders may pay for it IF the dividends get cut but that is unlikely since the compensation and bonuses of the very same bean counters are tied to the market performance of the stock and that will be the last thing they would want to cut.

    Shareholders and the executives are on the same side in this equation, so shareholders needn't worry unless GM execs try to pull a Coke over the shareholders.

    The book by Bob Lutz - Car Guys vs Bean Counters, tells one half of the story of why GM is such a basket case. The other half of the story on how the Car Guys like Bob Lutz, who were great at pointing out problems but terrible at solving them, contributed to the basket case is yet to be written.
  • JohnChisum
    Thanks for that explanation cman.
  • hank
    edited May 2014
    "The book by Bob Lutz - Car Guys vs Bean Counters, tells one half of the story of why GM is such a basket case. The other half of the story on how the Car Guys like Bob Lutz, who were great at pointing out problems but terrible at solving them, contributed to the basket case is yet to be written." - Yeah, I like that. Thanks.

    All concerned will attempt to put lipstick on the pig - for now anyways.:-) But, am really concerned about their long-term viability as a corporation. To say they're bleeding dollars would be an understatement.

    Hmmm .. . I can think of one CEO who probably could turn that sinking ship around. And he's set to leave Ford soon. Anybody want to place odds on his taking over GM? ..... Awe shucks. No way - the guys running Oakmark (and buying GM stock) can't be that smart - can they?



  • CrashCrash
    GM, yes, but there's hardly a brand without a recall. I just saw a recall for 2010 Mercedes Benz: taillights can dim or go out. Bad electrical ground.

    The message: we don't care about making your car safe. We are all screwed. I'm keeping my Saturn from 1997 running. 292,000+ miles.
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