Careful what you wish for...General Motors

[mayk]

For those who have been shouting the GT1 class is a joke (both in ALMS and LMS) and should just go away....well after the news coming from Detroit/General Motors, could 2008 be the last year for GM Racing in the ALMS?

The largest annual loss in the history of the auto industry signals that even with a garage full of hot vehicles and a historic new labor contract, GM has little hope of making a profit again before 2010....

GM reported the record-setting loss on Tuesday and promptly offered a new round of buyouts to 74,000 U.S. hourly workers in hopes of replacing some of them with lower-paid employees

GM Posts Biggest Annual US Auto Loss: Financial News - Yahoo! Finance

[porschefan]

With the Corvette division and the truck division (supposedly) profitable, perhaps they'll keep going, in one form or another.

[John Thawley]

When the going gets tough, the tough get going. They will do whatever they have to do to distinguish their product from the rest of the market. Making the soup still demands you include all the ingrediants... advertising, marketing, charitable donations, community involvement .. and yes, even racing.. is all part of running the store.

Don't you think they'll look at the divsions where they are profitable.... figure out what they're doing right and replicate? Cadillac, Corvette.. even the Malibu and Camaro... these hot rods are going to take off.

What they really need to pair back on is sending all these "suits" to 50 different dog and pony shows around the country... and get the press to attend one relevant North American Show and one Global. What a waste of time that is.... these guys need to stop flying around the country sampling all the nudie bars and local talent and get their collective asses back to work... make something happen.

Man... I need to quit hanging out with De Lorenzo.

[Stever]

I think most of the losses were 'baked in' long ago as(take this with a financial grain of salt) tax writeoffs that couldn't be taken since there wasn't a profit to be taxed, had to be written down. So, this event was known to be coming....just a part of the process of becoming a smaller company that GM took advantage of to announce the buyout offer.

This isn't a good thing, of course, but not something that all by itself would change the racing budget.....it's just part of the continuing story.

[bullitt_60]

The auto industry as a whole is hurting right now, not just GM. The downturn in the economy has really hit these large purchases. Reduction in the prime rate could have a positive affect. It's really a shame, because out of all of the American manufacturers GM is putting out some quality products now. My dad is a 28 year GM management employee and I hope he can hang on for a couple more years. His retirement is based completely on his pention.

[SCALMSFan]

I think GM would drop the Grand Am program before they drop the ALMS program

[WMUCarGuy]

I've got an interview with GM on tuesday

[mayk]

Good luck and remember to wear the power tie!

[bullitt_60]

Originally Posted by WMUCarGuy

I've got an interview with GM on tuesday

Ahhh! Doing what??