Patterico's Pontifications

4/21/2010

GM’s Important Announcement

Filed under: General — DRJ @ 5:27 pm



[Guest post by DRJ]

GM sent this email to me and other owners of its products today:

“Dear D__,

We value and appreciate your loyalty more than anything. We are proud to announce we have repaid our government loan – in full, with interest, five years ahead of the original schedule. We realize we still have more to do. Our goal is to exceed every expectation you’ve set for us. We’re designing, building and selling the best cars and trucks in the world. Like the award-winning Chevy Malibu, the all-new Buick LaCrosse, the versatile Cadillac CTS Sport Wagon and the innovative GMC Terrain, just to name a few. As we move into the future, we’re thankful to have loyal owners like you. We invite you to learn more about the new GM and join our community, by visiting gm.com. And once again, thank you for your support.

Susan E. Docherty
Vice President, U.S. Marketing”

Congratulations, Susan, on paying off that debt. Unfortunately the U.S. has a long way to go before it can say the same, and your loan helped set that precedent. Plus, I’d feel better about your products if they didn’t dominate the list of America’s worst vehicles:

“Four of the seven vehicles on our list of the worst-made cars on the road come from GM brands. And all of the cars on the list — including Chrysler’s Dodge Nitro and Jeep Wrangler — are made by Detroit’s Big Three. Only one car on the list is made by Ford Motor.”

My new favorite vehicle is BMW, Susan, and you can take me off your email list.

— DRJ

19 Responses to “GM’s Important Announcement”

  1. A guest on Neil Cavuto’s show this afternoon explained that GM paid back this loan with another U.S. loan. Neal Borofsky sp? is a U.S. Inspector General for the entire mortgage forgiveness scheme and he knows of which he spoke.

    Did you hear the announcement where GM profits weer tens of billions in 2009, or 10Q1? I know I missed it. How about the successful stock offering? Bond offerings? Didn’t happen.

    It is disgusting that GM is being given credit by the drive-bys when all they did was find another credit card to pay for the first one.

    Ed from SFV (f0e1cb)

  2. Dear GM,

    Please go away.

    the bhead (a31060)

  3. bhead, you don’t mean me do you? Oh, wait…that GM is General Motors. Whew!

    GM Roper (6afe02)

  4. Have they actually been pulling a profit at any point?

    Or is this a particularly disgusting lie? Because they would have to be pulling a truly miraculous profit right now to honestly have paid the American people back.

    I know they seem to be making even worse cars, relative to the market, than ever, and their bank front seems to be offering more aggressive deals than ever.

    One problem is that their crony government decided to corner Toyota, and Toyota recognized it had to bite back HARD. If you want a ‘regular’ car these days, Toyota offers deals that GM just cannot compete against. They cranked up the deals, with free maintenance, zero APR, and good deals, because the US Government decided to crucify this enemy of the democrat party.

    So I have to wonder how many more bailouts GM will need. ‘Cause that warranty might not be worth the paper it’s written on, and we all know how GM cars need their warranties.

    Dustin (b54cdc)

  5. I have my Ford F 150 and it only has 102,000 miles. Not ready for a new Gummint Motors whizzer yet.

    Mike K (2cf494)

  6. Funny you should mention that permanent bailout for Wall Street that the ……uh, what did you say? Frank Luntz got found out. So what. You mean totally. Well, yeah, but this total bailout for the banks is…..huh? But wait, we were told, I mean I’m talking bailout, like we were told to….wha? Oh. Wow. OK. I’m just like the public,too. I don’t like what Goldman Sachs did. Let’s get that bill passed. No bailouts for them.
    Go Republicans. Yea!!!!!

    Larry Reilly (fadcab)

  7. The news report of Reilly’s death from a spaying gone wrong was exaggerated.

    GeneralMalaise (24d3e0)

  8. My new favorite vehicle is BMW, Susan, and you can take me off your email list.

    Let me guess DRJ: a black, two-door 2010 335i? (The psychologist I have a crush on a work, who hates my guts, has one too. Life is unfair. Sigh.)

    🙂

    qdpsteve (5eb540)

  9. qdpsteve,

    That’s close enough that I almost feel like I’m being watched!

    DRJ (09fa6c)

  10. lying GM hoochie can you please send me more information about the Buick LaCrosse because I’m anticipating turning 80 years old in the next several decades and those ones are real snazzy

    happyfeet (c8caab)

  11. GM roger,

    Not you. I rather enjoy your contributions.

    Car company…exit stage left.

    the bhead (a31060)

  12. How about paying back the bond holders, GM/Obama? Oh that’s right, you had to transfer their wealth to the UAW.

    Die, Government Motors, die.

    John Henry Eden (9284aa)

  13. Larry, they have wonderful new drugs for that, now. It may affect your ability to calculate but that isn’t important I know because I’ve read some of your posts.

    Really. Time to get that new medicine.

    Mike K (2cf494)

  14. I’m certainly never buying another car from these frauds. Neither Chrysler nor GM will ever see another dollar from me.

    SPQR (26be8b)

  15. Mike K., there is a theory that the pharmacy in Larry’s hometown has trouble keeping certain anti-psychotics in stock.

    SPQR (26be8b)

  16. Neither Chrysler nor GM will ever see another dollar from me [except all that money the government takes].

    I would rather push a Ford than drive a car that was bought with stolen prosperity.

    I don’t really understand Larry’s point, but the endless bailouts aren’t OK just because members of my party were behind some of them. Can’t really phase us with ‘Bush did it’.

    Dustin (b54cdc)

  17. buying a gm car would make me feel like an accessory to the criminal act of looting of the original owners and debt holders.the term “under the color of law” comes to mind.nationalization is only supposed to happen in third world socialist dung piles.

    clyde (e236fd)

  18. American Leyland….and the legend continues!

    When better cars are built, they won’t carry a Buick badge.

    AD - RtR/OS! (83fa7e)

  19. So once they declared bankrupcy, got to opt out of repayment of all sorts of more senior debt (and raped the bondholders), renegotiate all their contracts, they’re paying back the last penny-ante trickle loan that provided them a tiny bit of escrowed capital ‘just in case’, and are declaring success? And declaring a profit (against all those write-downs) despite losing significant market share to Ford among others.

    And they want a kiss on the fanny and a blow in the ear? Pluck them. Pluck them bald.

    I already said I’d not buy another GM (or Chrysler) product after what went down with the reorgs, so I’m already out of their market segment. But this kind of marketing hucksterism is so blatantly insulting, it makes me want to actively preach to others to do the same.

    If I have influence to kill a future GM sale to a friend or family member, through any and all legal and nonviolent means of persuasion, I will. And don’t tell me how I’m ‘hurting myself’ as an unwilling co-owner-by-proxy. That’s all been “repaid” now, which means I no longer have a stake to hold, aside from the imaginary one I’d like to plunge in someone’s metaphorical heart.

    rtrski (b47753)


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