GM Still Incompetent

[Luv2play]

It was announced this week that GM would issue new stock under an IPO led by, you guessed it Goldman Sachs and BofA. In the same week, GM decided to drop the name Chevy and use Chevrolet exclusively in its promotion of the iconic car name. Forget the Chevy has been memorialized in numerous hit songs over the years and that the nickname is universally recognized.

 

How dumb can GM get! If this reflects the new brain trust at GM headquarters, I wouldn't touch that new stock being offered to the public.

[instudiocity]

In the same week, GM decided to drop the name Chevy and use Chevrolet exclusively in its promotion of the iconic car name. Forget the Chevy has been memorialized in numerous hit songs over the years and that the nickname is universally recognized.

 

How dumb can GM get! If this reflects the new brain trust at GM headquarters, I wouldn't touch that new stock being offered to the public.

 

Er, um, they walked back that Internal Memo requesting that employees only refer to Chevrolet as Chevrolet not Chevy on the same day it went out.

 

As to an IPO, who would you want to run your IPO? Me, I want the biggest, bestest crooks in the investment banking business!

[Luv2play]

The fact that they walked it back doesn't make them appear any smarter. It was a bone-headed move in the first place. You just wonder what other dumb mistakes they make that never surface until much later.

 

And given GS's reputation (such as it is), I wouldn't be surprised if they weren't shorting the stock at the same time as they are pushing it out the door to their unsuspecting clients. I used to own some GM stock but never again.

[+ deej]

GM decided to drop the name Chevy and use Chevrolet exclusively in its promotion of the iconic car name. Forget the Chevy has been memorialized in numerous hit songs over the years

 

Yeah, songs like "See the USA in your Chevrolet".

[Luv2play]

Oh yes, that was a big hit. Who sang it again?

[zeferrelli]

Dinah Shore

[monroejobber]

"See the USA in your Chevrolet"

 

Dinah Shore sang this as her theme song on the "Dinah Shore CHEVY Show"from October 5, 1956 to the final show shown May 12, 1963.

[Guest DuchessIvanaKizznhugg]

Sing it, Dinah!

[+ purplekow]

Drove my Chevrolet to the levolet but the levolet was dry. And good old boys were drinking whiskey and rye.

[instudiocity]

Drove my Chevrolet to the levolet but the levolet was dry. And good old boys were drinking whiskey and rye.

 

Wow, Kow, you funny!

 

Me, I'll stick with whiskolet and ryolet!

[Lookin]

GM has always been focused on market segmentation. Their five brands - Chevrolet, Pontiac, Oldsmobile, Buick, and Cadillac - spanned the American market successfully for decades, with a model at every price point. With lower profits on cheaper cars, and with Pontiac disappearing next year, it might make sense for GM to move Chevrolet up a notch on the price scale. And perhaps they thought Chevrolet sounded better to a more upscale buyer.

 

Still, I'm surprised they didn't do their market research better. As others have said, it does seem a bit boneheaded.

 

Or maybe they figured the worst that could happen would be a hue and cry from Chevy loyalists. After all, even Coke got some mileage from their seemingly reckless decision to do away with the original formula back in the mid-eighties.

[Electra 225]

GM Builds Great Cars--and some not so great ones, too!

 

I have been a car collector since high school and now serve as a judge at some of the major antique/classic/special interest car shows in North America. It has been, and is, my experience that almost all of the manufacturers of automobiles have built and sold some great cars (and trucks) and some real clunkers. Over the years, I've owned over 300 cars--some great, some mediocre, and some awful.

 

Right now, the "fleet" includes a 2009 Chevrolet/Chevy Cobalt as a daily driver. It does exactly what I want it to do (negotiate Houston traffic) and gets great gas mileage (25+ in the city and 35+ on the highway). Is it a high dollar import fighter? No. It is just basic go from A to B transportation. I also have a pair of Cadillac Broughams (one '87 and one '88) that are ultra-low mileage originals in show condition. They stop traffic and get great comments, but they are, to be sure, dinosaurs in this day and age. The other cars--dating from the 1920's and up are all interesting, but the older ones (pre disc brakes, for sure) are just too dangerous to drive in today's traffic (the average driver has no idea that you can't stop on the proverbial dime).

 

Bottom line: GM is now building and selling some of the best vehicles in its (or anyone else's) history--especially when you consider price. Ford is also doing the same thing and I think that Chrysler will also come up to world-class standards soon (I hope). And no, before anyone says or thinks it, I don't own a GM store (although I did own a Ford-Lincoln-Mercury store at one time).

 

Happy Motoring!!!

[+ deej]

Still, I'm surprised they didn't do their market research better. As others have said, it does seem a bit boneheaded.

 

They've got us talking about them. We weren't doing that yesterday.

[rvwnsd]

Not so fast...

 

It was announced this week that GM would issue new stock under an IPO led by, you guessed it Goldman Sachs and BofA. ...

 

The Wall Street Journal reported that the IPO will be lead by Morgan Stanley and J.P. Morgan. Here's a link to the story:

 

http://online.wsj.com/article/SB10001424052748703509404575300430351563768.html?mod=WSJ_Deals_LeadStory

 

 

Reuters reported on Friday that Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA, and Citigroup were all invited to submit proposals.

 

http://news.yahoo.com/s/nm/20100611/bs_nm/us_gm_ipo

 

As another poster mentioned, I'm not sure who else has the wherewithal to manage an IPO of this size.

[rvwnsd]

Happy Motoring, Indeed

 

...I think that Chrysler will also come up to world-class standards soon (I hope)...

 

Happy Motoring!!!

 

I have owned a Dodge Caliber for two years and absolutely love it. I'm 6'4" tall and have plenty of head room, even with a sunroof and the seat cranked high. I looked at a Volvo and a BMW and this car was the best fit.

[instudiocity]

GM has always been focused on market segmentation. Their five brands - Chevrolet, Pontiac, Oldsmobile, Buick, and Cadillac - spanned the American market successfully for decades, with a model at every price point.

 

I think that's a huge point. In the 50's and 60's when GM had 5 brands + GMC trucks, they segmented the market in style and feature.

 

With the Japanese invasion of Toyota, Datsun/Nissan and Honda, the market segmentation in style and features quickly got wiped out - distinctive shapes and trims disappeared.

 

The Japanese taught us how to build cars in less expensive ways. Standardized features like power windows, power mirrors, power seats, cruise control, instrument panel displays and intermittent wipers all became standard features because it was cheaper and faster to have only one option.

 

In the 50's and 60's, the options came on the more expensive line of cars. I remember my parents upgrading from Chevy to Pontiac and Buick just to get power seats, windows and door locks.

 

I also remember when my dad bought a Toyota for less money than a Chevy that had all the features he wanted. He was a GM guy until the 80s. He's been a Nissan guy since. Now Nissans cost more than GM cars. But he's satisfied.

[rvwnsd]

...With the Japanese invasion of Toyota, Datsun/Nissan and Honda, the market segmentation in style and features quickly got wiped out...

 

To a large extent this is true. Honda/Acura is an exception. It is hard to mistake an Acura for a Honda.