OT: automotive follow-through

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Another example of what happens when you fail to heed the advice "when you are in a hole, the first thing to do is stop digging."

Items that popped up immediately after I posted confirm the

*TOTAL* buy-out offer. ======= GM offers all U.S. union workers buyouts or retirement By David Bailey Tue Feb 12, 7:04 AM ET DETROIT (Reuters) - General Motors Corp will offer buyouts or early retirements to all 74,000 U.S. hourly workers represented by the United Auto Workers in a sweeping deal with the union intended to clear the way for GM to hire lower-cost replacements.

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Also I just read that much of the "income" that limited (!!!!) the losses was a tax credit. (Looks like those tax rebates scale.)

============= CNBC GM Earnings and the Surprise Tax Benefit Tuesday February 12, 8:36 am ET Shares of General Motors reversed course in pre-market trading Tuesday after enthusiasm about what looked like a surprise profit waned when the chief executive said it was unlikely analysts knew about a one-time tax benefit.

But that number included a $1.6 billion tax benefit that Wagoner said analysts likely didn't take into account. Based on 567 million shares outstanding, that would boost the bottom line by about $2.83 a share. On average, analysts predicted a loss of 55 cents a share.

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If anyone needs further proof that the US economy is being run by manic-depressives and schizophrenics click on

Futures point to higher open on GM results Tue Feb 12, 7:13 AM ET NEW YORK (Reuters) - Stock index futures rose on Tuesday and were set to extend Monday's rebound from the past week's losses after General Motors (GM.N) reported higher-than-expected results and reached an agreement with the United Auto Workers union. ============

Note to Reuters -- get your writers to leave their "bong" at home...

**************************************************** >I'm hearing on the news that they have offered to buy out all 74,000

>

Unka' George [George McDuffee]

------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).

Lower-cost replacements: Can you say "High speed transit from Mexico?" Right down the new immigrant super-highway.

We're supposed to be fooled?

dennis in nca

Well Unka, if GM & all the others didn't make (jelly bean) cars that all look the same (think back to the 50's & 60's). Like why should I buy this car from (name here) the other (name here) looks the same.

As a kid I could name every car/truck I saw on the road & who made it, now they are just Wal*Mart crap. I would only buy 1 new car the Dodge Challenger, because it looks like a real "car", & I'm a chevy man for

40 years. But then I'm an old fart.

I was a Ford man till I quit driving the model"A" Gerry :-)} London, Canada

I really don't care that much what they LOOK like, I care how well they work. After years of resistance, I've finally weaned my wife from her slavish attraction to "american label" cars, and we have 3 Toyotas! Her last one was truly one for the record books. A 15-passenger Dodge ram van. The rear AC never worked, and even after significant repair work it still leaked R134a like a sieve. A $3100 transmission rebuild at under 100,000 miles was surely a low point. The thing leaked rainwater through the air vents below the windshield - not a manufacturing defect but a design error, a little wind just blows the water right into the interior, and then the under-floor pad starts growing stuff! There was more, a LOT more, but I won't bore you.

My 1989 Toyota wagon is still going strong, still has the original coolant in the radiator, original water pump, never added Freon to the AC, I can't believe it! Other than the usual tires, batteries, muffler and brakes, I've put no more than $200 in repair parts into it in nearly

20 years!

Jon

It's a shame they don't seem to be designing or building them as well anymore.

dennis in nca