Wednesday, June 3, 2009

Who Killed GM? GM and Wall Street

Who Killed The Electric Car?

GM did. The GM EV1 of the late 1990's, a fine vehicle that ran on household current and had the people that GM had leased the car to raving about its performance and dependability.

What did GM do with all that positive customer feedback? They went and took back the leased vehicles, despite the customers pleading with GM to let them buy the and took the cars to a remote SW desert location and crushed them into scrap metal.

GM said to hell with electric cars and bought Hummer. Honda and Toyota went ahead with electric car hybrids.
The movie deals with the history of the electric car , its development and commercialization, mostly focusing on the General Motors EV1, which was made available for lease in Southern California, after the California Air Resources Board passed the ZEV mandate in 1990, as well as the implications of the events depicted for air pollution, environmentalism, Middle East politics, and global warming.

The film details the California Air Resources Board's reversal of the mandate after suits from automobile manufacturers, the oil industry, and the George W. Bush administration. It points out that Bush's chief influences, Dick Cheney, Condoleezza Rice, and Andrew Card, are all former executives and board members of oil and auto companies.

The film explores some of the reasons that the auto and oil industries worked to kill off the electric car. Wally Rippel is shown explaining that the oil companies were afraid of losing out on trillions in potential profit from their transportation fuel monopoly over the coming decades, while the auto companies were afraid of losses over the next six months of EV production.

Towards the end of the film, an engineer explains that, as of the interview, lithium ion batteries, the same technology available in laptops, would have allowed the EV-1 to be upgraded to a range of 300 miles per charge.

If GM had foresight and kept the EV1, would they be in bankruptcy today? Would the rapacious banksters that are floating over the dead carcass of GM like so many buzzards, had to look elsewhere for their meal?
And let's not forget that of all auto producing nations, the USA is the only one without national health insurance, a cost that figured into this mess.

While JP Morgan and some other Wall Street banks are getting paid back in full their investments in GM, the workers are getting screwed out of their health insurance pensions, jobs and future.
Whole communities where GM will be closing plants and moving operations to Mexico and China will be devasated.

But don't cry for GM too much. After all, their assets in Commie China aren't being subject to bankruptcy proceedings.


kenny's sideshow said...

Word from someone who works at the local Saturn plant is that they have been told to expect a loss of 60% of their pensions. I'll be surprised if it's not more, if not all of it.

The Spring Hill plant is the most technologically advanced and efficient plant that GM has. I have been in it many times as well as others all over the country. Only the local Nissan plant is more efficient.

But GM partnered with the oil companies and didn't give the people what they wanted for the long run and the GM working folks and all of the community services that grew up around them are going to suffer.The town of Spring Hill is dead if Saturn doesn't re-open, becoming a little failed Detroit in the middle of TN farmland. Few intelligent car buyers wanted a damn Saturn.

Even Nissan and Toyota fell into the trap, especially with their trucks. Bigger and less fuel efficient, on and on. The used smaller trucks from 1994 and earlier in good shape are in big demand around here.

Obama wants to tell us what to buy and drive and if cap and trade passes it won't matter if it's electric or a mini, the costs to drive will not decrease.

Top bankers are losing nothing, sanctioned theft is the order of the day and minimum wage goes up to $7.25 an hour on July 24th. That will buy a car and a house won't it.

It's the Mexicanization of America.

No need to move car plants to Mexico, we're already there.

Greg Bacon said...

Obama wants to tell us what to buy and drive and if cap and trade passes it won't matter if it's electric or a mini, the costs to drive will not decrease.----

I watched part of CSpan show where Senator Staubenow was blabbering on about how an amendment to the cap and trade scheme was just peachy keen.

She didn't give any specifics, except to say that they'd be handing out $4,500 dollar vouchers to buy certain vehicles.

I've got a 1994 Ford F-150 with the inline Six cylinder and four speed with overdrive.

It runs great and is dependable as anything on the road and gets right at 20 mpg, which isn't bad for a full size pickup that doubles as a tractor.

kenny's sideshow said...

Wikileaks has the US IAEA report

Anonymous said...

Israel is NO Friend to America or the World..!!

Congressional members with dual American / Israeli Citizenships are TRAITORS, they should be lined up against a wall and SHOT…!!

Israel / Zionist Jews are the Blood Sucking Parasites of the World.
They are nothing more then Leeches, feeding on Humanity and sucking the life out of Mankind.
The sooner this World is rid of them the better we all will be.

“What’s the difference between an Israeli and a Catfish”?
One’s a Scum Sucking Bottom Feeder and the other is a Fish”

"Die You Scum Sucking Bastards, Die"

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