GM to Reduce NASCAR Funding

Due to the economic downturn in the USA and slow auto sales, GM motorsports will be cutting sponsorship and funding within the coming years. NASCAR is most at risk because GM spends so heavily on the stock car racing organization's three leagues. GM is bleeding $1 billions dollars a month in liquidity thanks to the current economic environment.


Source: http://www.forbes.com/reuters/feeds/...TORSPORTS.html

Surprised it hasnt happened sooner,especially with Ford losing more then GM.

well, all you Americans, go buy some more cars. Problem solved.

And all those little bits of merchandising like keyrings (fobs) and jackets, and stuff......

Not good. Can Ford and GM dig themselves out of the holes they are in?. or is it already to late?.

Quote:

---

Originally Posted by Haulin'AssAndTurnin Left

Not good. Can Ford and GM dig themselves out of the holes they are in?. or is it already to late?.

---

The biggest problems for Ford and GM are the unions. The unions are putting there own people out of work by not letting the companies reduce wages and forcing the price of their products slightly higher than the competition. Not that I don't think everyone deserves to make $100,000 a year at work, but when you go into a recession and arn't selling your products costs have to come down somewhere and its ether wages or layoffs. This combined with Americans not being loyal to homemade products.

Quote:

---

Originally Posted by Saabaru

The biggest problems for Ford and GM are the unions. The unions are putting there own people out of work by not letting the companies reduce wages and forcing the price of their products slightly higher than the competition. Not that I don't think everyone deserves to make $100,000 a year at work, but when you go into a recession and arn't selling your products costs have to come down somewhere and its ether wages or layoffs. This combined with Americans not being loyal to homemade products.

---

Unions aren't anywhere near the top of the list of problems. It's management, poor quality, and bad product. Why should Americans be loyal to crappy products from insensitive companies? GM has lost 1% market share for the last 40 years. They don't listen, they don't fix their problems.

Quote:

---

Originally Posted by Jonesi

Unions aren't anywhere near the top of the list of problems. It's management, poor quality, and bad product. Why should Americans be loyal to crappy products from insensitive companies? GM has lost 1% market share for the last 40 years. They don't listen, they don't fix their problems.

---

Exactly. The workforce is not responsible for the bad decisions management makes. They're victims of them.

I guess it is managements fault that GM does pay more in union member benefits than they do in steel.

Quote:

---

Originally Posted by Saabaru

The biggest problems for Ford and GM are the unions. The unions are putting there own people out of work by not letting the companies reduce wages and forcing the price of their products slightly higher than the competition. Not that I don't think everyone deserves to make $100,000 a year at work, but when you go into a recession and arn't selling your products costs have to come down somewhere and its ether wages or layoffs. This combined with Americans not being loyal to homemade products.

---

http://www.epi.org/content.cfm/briefingpapers_bp143

Read and learn.

Quote:

---

Originally Posted by JasonD

I guess it is managements fault that GM does pay more in union member benefits than they do in steel.

---

http://www.businessweek.com/magazine...5/b3778012.htm

Read and learn.