Tuesday

GM Hurting


Good grief. General Motors is looking for a buyer for its headquarters building in Detroit. How bad is it getting?

GM's spokesman Tom Wilkenson said "We have been looking for options to monetize the asset" which is code for sell it, mortgage it or lease it but, whatever you do, make money out of it. Collapsing demand in Europe has caused GM to temporarily shut down its plants in England and Spain and, longer term, cut production output. Meanwhile GM's stock value tumbled to a 54 year low.

Meanwhile, Detroit still thinks that rebates and incentives are the cure with the Detroit News reporting that GM spends $3,972 per vehicle for incentives in September while Ford Motor Co. spent $3,696 and Chrysler LLC spent $4,705.

The economy admittedly sucks while Detroit plays mirror games with prices. Why not just cut the darn price in the first place? After all, down at the corner store if something isn't selling they don't play rebate or incentive games. They just mark down the price and get rid of slow moving inventory. Plain and simple.

Problem is, of course, if they reduce prices customers might think, gee whiz there must be a lot of profit in there in the first place and by golly I'm just not going to pay so much next time. Well, so what's wrong with that attitude? Nothing. Why won't Detroit do it? Well, they'd have to be honest and that's just darn tough for car dealers to do. Apparently it's tough for car manufacturers too.

After all, they can't even admit that every once in awhile a car is a lemon.

Meanwhile, if you've got a lemon, call us right now1-888-331-6422 Toll Free or email us right now. Getting rid of lemons is what we do. Everyday. Why? Because in tough times someone has to help you watch out for your money and Detroit isn't doing it.