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Old May 25th   #1
dragginbody87
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GM failed to disclose $600,000 deal benefiting CFO's wife's firm, automaker tells SEC

http://www.freep.com/article/2012052...xt%7CFRONTPAGE
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Old May 27th   #2
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Interesting how it's a case of 'oops, we forgot it in our disclosures'. Shhhhaaaaaady...
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Old May 27th   #3
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this is pretty much the same thing as self reporting a violation in college football... when you realize someone within your company didn't go 100% by the book and before someone tries to blow it way out of proportion, go ahead, report it and go public with it... oh wait, the media is still trying to say that... this really is a case of "nothing to see here folks"... so what its the CFO's wife's company... why would you NOT do business with her company again? "Hmm, huge contract, lets award it to someone we don't know, not in any way tied to the company"...... that doesn't makes a lot of sense... so of course her firm should have gotten the contract, where were you when this happened?



http://abcnews.go.com/Blotter/toyota...1#.T8KAC8VN-xM


self reporting is much better than being subpoenaed


one manufacturer self reported an ethics violation, the other got caught lying and trying to cover up a safety related issue

I mean yeah they should have told the stockholders, but at the same time... would any of them had an issue? its not like the contract itself is illegal or anything, it was simply an ETHICS issue of not making all the information known, and with that, its not like this Facebook fiasco where they reported false information


and i'm sure i'll be labeled as a GM fanboy, I just find it hilarious you always try to throw stones at them whenever possible...

news flash, the Bailout worked, the government is currently making MILLIONS off the interest on those loans, and GM is back to selling cars and of a higher quality than they've ever been with the restructure of the company... over one million automotive jobs were saved, and all money tied to those jobs goes back to Detroit, Michigan, USA not Tokyo City, Japan


have a nice day
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Old May 27th   #4
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Originally Posted by 2SSRSinBama View Post
this is pretty much the same thing as self reporting a violation in college football... when you realize someone within your company didn't go 100% by the book and before someone tries to blow it way out of proportion, go ahead, report it and go public with it... oh wait, the media is still trying to say that... this really is a case of "nothing to see here folks"... so what its the CFO's wife's company... why would you NOT do business with her company again? "Hmm, huge contract, lets award it to someone we don't know, not in any way tied to the company"...... that doesn't makes a lot of sense... so of course her firm should have gotten the contract, where were you when this happened?



http://abcnews.go.com/Blotter/toyota...1#.T8KAC8VN-xM


self reporting is much better than being subpoenaed


one manufacturer self reported an ethics violation, the other got caught lying and trying to cover up a safety related issue

I mean yeah they should have told the stockholders, but at the same time... would any of them had an issue? its not like the contract itself is illegal or anything, it was simply an ETHICS issue of not making all the information known, and with that, its not like this Facebook fiasco where they reported false information


and i'm sure i'll be labeled as a GM fanboy, I just find it hilarious you always try to throw stones at them whenever possible...

news flash, the Bailout worked, the government is currently making MILLIONS off the interest on those loans, and GM is back to selling cars and of a higher quality than they've ever been with the restructure of the company... over one million automotive jobs were saved, and all money tied to those jobs goes back to Detroit, Michigan, USA not Tokyo City, Japan


have a nice day
Making money off of the millions that our government borrowed from china in the first place?
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Old May 27th   #5
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and i'm sure i'll be labeled as a GM fanboy, I just find it hilarious you always try to throw stones at them whenever possible...
this has been said by multiple people on different subjects.
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Old May 28th   #6
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The only reason why it might be a problem is if other firms of equal quality services made lower bids.
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Old May 28th   #7
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Oops. What's 700 million to Nissan anyway. I'm sure it was just a simple mistake.

http://www.thetruthaboutcars.com/200...heating-taxes/

Don't throw stones when you live in a house of glass
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Old May 28th   #8
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Don't throw stones when you live in a house of glass
That rebuttal may have made sense if I worked for Nissan, except even then, it's known as the "Tu quoque" logical fallacy that has no bearing on GM's behavior.
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Old May 28th   #9
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It makes perfect sense. I don't work for GM so we are on the same level of involvement. Point is very simple, don't assume that your automotive mfg of choice is without a blemish or any faults. It's easy to hide stuff and be ignorant of things when your based in a foreign country!!
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Old May 28th   #10
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The bottom line is that our government should not be involved with any type of bailout. Why should someone be awarded because they are not capable of running their company properly? Yes I love Chevrolet cars, but I wish the company could of handled their problems themselves without my tax money
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Old May 29th   #11
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Originally Posted by clintjohns View Post
Point is very simple, don't assume that your automotive mfg of choice is without a blemish or any faults.
Where did I assume that? You're inventing positions never taken by me and then arguing against them. That's a strawman logical fallacy. And still, it's a tu quoque logical fallacy to point to faults of others as a way of excusing the subject at hand, that being GM.
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Old May 29th   #12
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Originally Posted by A_Cryer View Post
The bottom line is that our government should not be involved with any type of bailout. Why should someone be awarded because they are not capable of running their company properly? Yes I love Chevrolet cars, but I wish the company could of handled their problems themselves without my tax money
Don't foget the illegal actions that screwed the bondholders out of their returns and gave the money to the UAW workers. That's ILLEGAL.
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Old May 29th   #13
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Quote:
Originally Posted by dragginbody87 View Post
Where did I assume that? You're inventing positions never taken by me and then arguing against them. That's a strawman logical fallacy. And still, it's a tu quoque logical fallacy to point to faults of others as a way of excusing the subject at hand, that being GM.
If you were as unbiased as you claim to be then be an equal opturnity hater. Stretch your legs a little and see if you can muster up something on a different car company other than the Goverment Motors

Btw I'm not excusing GM from anything. The bail out didnt save GM, all it did was save the unions! I'm just making the point that other companies have dirty laundry also. I'm not sure if you think that you are "breaking news" for all to see with all these copy and paste posts or if you just like stirring the pot. It's one or the other.

Samir you need to add another thread dedicated to news articles about GM. There is nothing "General" about these discussions. It's extremely pointed and often increases tension between members. And personally if you ask me the purpose behind these posts are to get people's blood pressure up, which is a direct violation of posting rules. One or two articles is normal, 10+ is a pattern!

Now you can reply how you were just "stating the facts" and nothing malicus was behind it. Like I said one or two is normal, 10+ is a pattern
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Old May 29th   #14
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The bottom line is that our government should not be involved with any type of bailout. Why should someone be awarded because they are not capable of running their company properly? Yes I love Chevrolet cars, but I wish the company could of handled their problems themselves without my tax money
you realize that Nissan, Toyota, and Honda all got bailouts from the japanese government.... right? EVERY manufacturer took a bailout

you think Ford didn't? what about the $26 billion loan they took out in 2006 to avoid Bankruptcy protection? the same loan that helped them escape having too in 2008... the fact of the matter is, they took a loan for restructuring long before it became a popular fad

every automaker was effected, Nissan the most, who saw a 44% reduction in market share during the crisis, yeah, they took a harder hit than GM, without the UAW, etc... Fox News just never got around to reporting that one, they were too busy pointing fingers at the UAW

don't blame wall street and the financial institutions lending money to people who had NO BUSINESS borrowing money, or even the irresponsible people taking those loans... nope, they weren't the problem.... it was the UAW...
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Old May 29th   #15
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Originally Posted by 2SSRSinBama View Post
this is pretty much the same thing as self reporting a violation in college football... when you realize someone within your company didn't go 100% by the book and before someone tries to blow it way out of proportion, go ahead, report it and go public with it... oh wait, the media is still trying to say that... this really is a case of "nothing to see here folks"... so what its the CFO's wife's company... why would you NOT do business with her company again? "Hmm, huge contract, lets award it to someone we don't know, not in any way tied to the company"...... that doesn't makes a lot of sense... so of course her firm should have gotten the contract, where were you when this happened?
I agree that it's wise to just air the laundry sooner rather than later. But revealing that competing bids weren't really solicited shows some bias. That's the only part that bothers me.
Quote:
Originally Posted by 2SSRSinBama View Post
I mean yeah they should have told the stockholders, but at the same time... would any of them had an issue? its not like the contract itself is illegal or anything, it was simply an ETHICS issue of not making all the information known, and with that, its not like this Facebook fiasco where they reported false information
It's interesting how you bring up ethics and legality. Ideally these are supposed to be the same, right? There's always a way to skirt a law by simply violating ethics, but why do that in the first place? To me the intent is just as bad as the crime.
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and i'm sure i'll be labeled as a GM fanboy, I just find it hilarious you always try to throw stones at them whenever possible...

news flash, the Bailout worked, the government is currently making MILLIONS off the interest on those loans, and GM is back to selling cars and of a higher quality than they've ever been with the restructure of the company... over one million automotive jobs were saved, and all money tied to those jobs goes back to Detroit, Michigan, USA not Tokyo City, Japan


have a nice day
I see you as a counterpoint to the points presented for a balanced discussion. Just so long as it doesn't get personal for anyone.
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Old May 29th   #16
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The only reason why it might be a problem is if other firms of equal quality services made lower bids.
That's my thought as well.
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Old May 29th   #17
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you realize that Nissan, Toyota, and Honda all got bailouts from the japanese government.... right? EVERY manufacturer took a bailout

you think Ford didn't? what about the $26 billion loan they took out in 2006 to avoid Bankruptcy protection? the same loan that helped them escape having too in 2008... the fact of the matter is, they took a loan for restructuring long before it became a popular fad

every automaker was effected, Nissan the most, who saw a 44% reduction in market share during the crisis, yeah, they took a harder hit than GM, without the UAW, etc... Fox News just never got around to reporting that one, they were too busy pointing fingers at the UAW

don't blame wall street and the financial institutions lending money to people who had NO BUSINESS borrowing money, or even the irresponsible people taking those loans... nope, they weren't the problem.... it was the UAW...
So you agree that it's ok to completely fail at running a business because you always know the government will be there to pat you on the bank and tell you that it's ok? Not my beliefs. Where is accountability in this world? Also, the people are just as responsible as the financial institutions for buying a car they cant afford. It was the people's idea to purchase the car. The financial companies just made it easier for them. Any person or company who purchases something that they cannot afford derserves to suffer the consequences
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Old May 29th   #18
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Point is very simple, don't assume that your automotive mfg of choice is without a blemish or any faults. It's easy to hide stuff and be ignorant of things when your based in a foreign country!!
That's why I don't have any brand loyalty--they all have pros and cons. And it's just as easy to hide things here. It's actually pretty scary some of the stuff that we do. In an old Van Halen video "Right Now", one of the animations says, "right now, our government is doing things we think only other countries do." I think that says it best. Many of the other sayings in the video are still relevant too.
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Old May 30th   #19
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Why should someone be awarded because they are not capable of running their company properly? Yes I love Chevrolet cars, but I wish the company could of handled their problems themselves without my tax money
I think the same way you do, but recently I've realized that because of the entangled web that society creates between human beings, the problems of one person can affect everyone else. So instead of allowing that part of society to collapse, you spread the pain to everyone, even those that had no part in it just to sustain society. It's the price to pay to live together, and it really makes me want to move...to a completely different planet.
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Old May 30th   #20
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Don't foget the illegal actions that screwed the bondholders out of their returns and gave the money to the UAW workers. That's ILLEGAL.
Easy now. Let's not get so heated and try to keep this civil. After all, we're all absolutely right and wrong at the same time depending on the point of view.
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