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GM Apologizes in Auto Mag; Says They'll Do Better and Greener

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On the surface, such an apology from such a corporate giant might seem like too little too late. But it does communicate that GM does understand the U.S. Taxpayer's hesitation to loan them money.
Yes, GM has been "burning cash" at at a rate or $2 Billion per month in losses recently. Sounds real bad, doesn't it? But think about this:
Our President Bush and Congress have been "burning our tax dollars" at a rate of $10-$12 Billion per month on the War in Iraq and Afghanistan for over 5 years!!! For all of our tax dollars, we still have not captured Osama Bin Laden. We really are not any safer with our open borders. The "surge" was a helpful improvement, but not a victory in any way.
Maybe President Bush and every member of Congress who voted for the war resolution on Iraq in late 2002 should give an APOLOGY to we, the American taxpayers!!! The President and many members of Congress have looked the other way while war profiteering and waste, fraud and abuse of our tax dollars has occurred (and is still most likely happening)!!!
Now that GM has given us an apology, when are we going to get the same respect from President Bush and Congress??? I'm waiting...
I intend to buy another General Motors vehicle in 2009 (Chevy Malibu or Pontiac Vibe). I would rather invest my dollars in my homestate of Michigan than turn over my hard-earned money to the theives on Wall Street!!!
Yes, and why haven't we heard an APOLOGY from the Wall Street investment banks that have gotten bailed out, despite their involvement with oil speculation (remember $4 gasoline)???
Why haven't we heard an APOLOGY from the Wall Street ratings agencies? These so-called Wall Street ratings gods gave General Motors "junk bond" status 2-3 years ago, but then turned around and gave AAA Ratings to toxic securitized mortgage investments, CDOs, and other risky financial schemes.
The Congress finally asked GM, Ford and Chrysler some tough questions. Well, that is their job, and I am glad they are finally "starting" to do it. But Congress needs to give more oversight, and start asking more tough questions about Wall Street firms, and military contractors and war profiteers.
The auto CEO "corporate jet" question is a red herring. How did McCain and Obama get to all those campaign stops? Did they drive hybrid cars? No, they flew on donated corporate jets.
If the auto CEOs work for $1 a year, will Congress work for a $1 a year to help reduce the Federal budget deficit? Will Congress members give up their health care plans until they solve the problems in U.S. Health Care system?
I'm still waiting for a written apology from Congress and President Bush...
The American people need to also start asking tough questions to our new Congress and President come January 20th, 2009.

Ron Pulcer of VT 6:08PM December 11, 2008

Apologies are hard to gauge when you are up against it. This is a darned if you do, darned if you don't situation.
Yes, quality has gone up and yes, contracts are being renegotiated. What worries me most is how late Detroit is to the table compared to Asia and Europe that have started earlier and are showing results, right now. Don't dwell too long on labor contract problems, France has it much, much worse, yet Renault does a good job globally. Maybe Carlos Ghosn should have had 20% stake in GM, since he has done a splendid job with Renault.
One thing that rings odd here, short of the fact that it costs to release it, is the opening sentence, "While we're still the U.S. sales leader,..." What is the point of saying that when the results are bad? Does all of this show GM is serious and really humbled this time? Hard to say when they have been warned over the last 4 decades of losing ground without doing much.
In the meantime, the world is moving fast and we are late to the table... again. Electricnick.com

Nick of CA 3:59PM December 10, 2008

GM should apologize. They stood by an watched as the foreign auto makers stomped them into the ground. What happened to good old American competiveness??? I drive a 2001 Chevy Blazer which most people consider a lemon. Why should we pay so much money for a subpar product? They should remember that not everyone who buys one of there cars is a mechanic. Sure, the parts are cheap to buy, but why should we? People depend on the vehicles for their livelyhood. GM has lost its focus. The Japanese have not! Simple formula. This is why Toyota and Honda are more reliable. Don't get me wrong I love America and love American cars, but give me a break! GM needs to step up its game and kick the foreign companies where it hurts. We started the industry here. We shouldn't let someone else master it!!!

GM Driver of NY 9:49AM December 10, 2008

I think it would be a grave mistake to allow our last large manufacturing industry to dissolve. Our auto industry has been a leader in providing good paying jobs. I do not want the country to be totally dependent on foreign imports for security reasons as well as good paying jobs. I feel that most of the opposition to the bailout comes from the Republican philosophy that is anti union. This crisis may be a blessing in that it is finally forcing the auto industry to take the necessary steps toward designing smaller and fuel efficient cars to cope with the impending oil shortages. With a major shift toward hybrids and electric autos we can move toward energy independence.

Everett of IL 8:07PM December 09, 2008

do we really have a choice at this point? perhaps this would have served better as an action plan 10 years ago; however, if they actually follow through with a different business model it could be the most beneficial thing to happen to the auto industry in a long time

joe of CO 8:01PM December 09, 2008