Comments on: Bailout Watch 242: GM CFO is Good To Go!

By: ronin

ronin — Fri, 05 Dec 2008 08:51:27 +0000

I don’t see anything wrong with his presentation, other than the random gestures unconnected with the words.

On the other hand, I do expect a CFO to have a very good finger on the pulse of a business. They have to know where the money is coming from to finance ongoing operations.

This money can come from raising capital (selling GM stock). No, that’s out. It can come from raising debt (selling GM bonds or bank borrowing). No, that’s out. It can come from product revenue. Strike three.

Since a going concern MUST generate revenue from its operations if it is to be anything more than a welfare queen, he should be asking why they are making but no one is buying.

He should be asking why in recent years red tag sales have coincided with sales increases. Then he should conclude that the price they set for their products is higher than the market can bear, and then lower them accordingly.

I mean, he is the bean guy?

By: IOtheworldaliving

IOtheworldaliving — Fri, 05 Dec 2008 04:27:50 +0000

Another marketing failure. They should have had a comely PR lady sitting across from him doing the interviewing, rather than the power-point slide business. BS, certainly, but par for the course these days definitely an improvement. I was in for a minute–about half of that spent thinking about how his shoulders look like Mister Rogers’s.

@Adub: That’s not fair to Hung, he was never in denial about his musical talent. Link instead to that Carly woman with the tattoos, who (before AI) got a $2.2m record deal and sold less than 400 albums. (I can’t remember her last name, nor can I summon the energy to search for it.)

Speaking of AI, I want to know what how the Ford sponsorship will be affected if they get a taxpayer loan…

By: Robert Schwartz

Robert Schwartz — Fri, 05 Dec 2008 04:18:41 +0000

And GM wants to keep GMC alive so that they can maintain the distinction between professional grade and built like a rock?

By: Adub

Adub — Fri, 05 Dec 2008 03:53:45 +0000

I think we should post a link to William Hung of American Idol in tribute.

By: Conslaw

Conslaw — Fri, 05 Dec 2008 02:54:16 +0000

Ray, good news and bad news -

First the bad news: the video didn’t get you the $14 billion.

Now the good news: you gave hundreds of nerds confidence that they will not have the worst dating video ever.

By: luscious

luscious — Thu, 04 Dec 2008 23:58:55 +0000

Too funny!!…I posted w/out having even read the above comments! I promise, I wasn’t trying to repeat what others had already said (haha).

By: luscious

luscious — Thu, 04 Dec 2008 23:57:50 +0000

Ok, according to the video time counter in the right-hand corner…

…I made it to 53 seconds.

NEXT!!!

Good Grief, even 53 seconds was painful!! :)

By: Nicodemus

Nicodemus — Thu, 04 Dec 2008 23:53:04 +0000

@Stein I must confess I stopped at “GM has an amazing portfolio of products …” Delusion can only take you so far.

They certainly are amazing, in the same way that a 3 legged dog is amazing. Not good, just amazing.

By: beken

beken — Thu, 04 Dec 2008 23:40:32 +0000

GM probably has the worlds largest portfolio of technologies that they don’t put in their cars or sell to the consumer. They do all that research and then file em away.

“GM has world class cars” I can think of two…possibly 3 out of how many? If you fire a shot gun you’re bound to hit something. This sounds like their grand strategy.

I could nit pick on almost every statement he makes. I only got about 3 minutes and decided I couldn’t watch anymore. Are those arms really his?

By: phattie

phattie — Thu, 04 Dec 2008 23:25:54 +0000

Lutz has been completely non-existent in all of this… did he fall off the face of the Earth?

By: hltguy

hltguy — Thu, 04 Dec 2008 22:55:59 +0000

Adub: GM does have a “grand” strategy, it’s worth about a thousand bucks.

By: Adub

Adub — Thu, 04 Dec 2008 22:45:18 +0000

Ray says they have a grand strategy, but I don’t think that’s true. All they take are baby steps.

What they need to do is file for bankruptcy, and in the best tradition of Wal-Mart – and keeping in mind Michigan’s horrible economy – follow a slash-and-burn strategy:

- Dealers? Who needs them!
- Brands? Kill every redundant brand/model!
- Bonuses? What for?
- Transplant pay? You’re lucky to have a job! $10!
- Detroit? We’re moving to Texas! Move if you want a job!

That’ll cut a huge portion of the staff and the company can use the cost savings to pony up for better materials and a 10/100k warranty on all new vehicles. They can also have real salesmen provide dealer training.

Really, drastic changes are required. Nudging the wheel one degree at a time didn’t avoid the iceberg…

By: Stein X Leikanger

Stein X Leikanger — Thu, 04 Dec 2008 22:14:44 +0000

I must confess I stopped at “GM has an amazing portfolio of products …” Delusion can only take you so far.

By: nudave

nudave — Thu, 04 Dec 2008 22:11:08 +0000

I think it’s safe to say that when GM goes TA next month, Ray will probably not be getting his own television show.

By: Stu Sidoti

Stu Sidoti — Thu, 04 Dec 2008 21:58:43 +0000

I would love to see TTAC have an expert in human gestures and facial expressions review this film and the Congressional Testimonies to see where their words are betraying their body language.

By: CarnotCycle

CarnotCycle — Thu, 04 Dec 2008 21:54:35 +0000

Is it not somewhat ironic that GM’s chief finance guy (an oxymoronic position at best at this juncture) is an Asian-looking guy with just a touch of the infamous Engrish accent? There can only be one answer…

Toyota got a diabolical recruit from the home office and performed a covert insertion of this fellow into the maw of their biggest competitor! His mission was create mayhem and confusion, sowed from the inside. An Alger Hiss for GM! The plan is going well he is anxious to report to his masters in Toyota City I am sure.