The New GM: Rising From The Ashes Of American's Largest Bankruptcy. Will You Trust Them Again?

Wow this train was steaming down the track, but it's arrival still stuns even the most prepared. 101 years of manufacturing and millions of vehicles worldwide is the legacy of GM. What now from a manufacture that is but a shadow of its former self.

Here is a letter from the CEO of GM. What will come of the new GM? After the dust has cleared, will America again place faith in a company that for the most part has failed them?

Below the letter is images of vehicles GM will offer between 12-16 months.

By Fritz Henderson
President and CEO

Today marks a defining moment in the history of General Motors. Our new fast-track plan to form a leaner, quicker, more customer-focused, more cost-competitive company has the support of the U.S. government. It also incorporates the terms of our recent agreements with the Canadian government, the UAW and CAW unions, and a substantial portion of GM’s unsecured bondholders.

This New GM will be built from the strongest parts of our business - including our best brands and products. It will have a dramatically stronger balance sheet, with far less debt, which will allow us to better invest in our business and our future. It will have fully competitive labor costs and the ability to generate sustained and positive bottom-line performance.

We’re committed to open communications and I am personally putting a high priority on transparency. One way we’ll do this is by launching a series of live web chats on this website. I’ll kick things off later this week for one hour on Thursday, June 4 at 3 p.m. EDT. Following me, a steady stream of GM leaders from throughout the company will host additional chats, about two a week, on whatever topics are of most concern to you.

Today marks the beginning of what will be a New GM dedicated to building on only the very best of our recent progress in fuel efficiency, world-class quality, green technology development and outstanding design. Above all, the New GM will be rededicated to our customers. We don’t do that by working in a bubble. We do it by engaging with you, our customers and critics, our partners and champions, who are interested in our progress. I hope you’ll join us as we begin a new and better era for General Motors.

carguy68 - 6/1/2009 4:13:48 PM

+5 Boost

never did

inspirion7 - 6/1/2009 5:52:31 PM

0 Boost

This post isn't to tear GM down. I'm asking the question to see what most are thinking. I've even posted images of the new product they will have available soon. I guess it depends on how you look at it.

AgentOrange - 6/1/2009 4:20:54 PM

0 Boost

INSPIRION7:
I'm curious as to why you are proposing the notion that GM failed us and is untrustworthy.
They built some gawd-damned good cars over the years and still build some great ones.
They created a lot of economic activity and created great jobs for hundreds of thousands of families.
They may have failed their shareholders and creditors, but not the general public.
The trucks, tanks, aircraft etc, they built during the war saved your sorry butt, so no need to kick GM while it's down

inspirion7 - 6/1/2009 5:48:50 PM

0 Boost

They fail us because during the years of prosper, there wasn't a focus on the future. I've had so many relatives like many others as well, that invested their lives in this company. GM as we knew it could do no wrong. Generations of families worked for GM and to allow the shareholders, unions and lack of future vision rob them of their very existence is disappointing, so yes in a way GM, once the pride of the U.S. will need to redefine itself and rebuild that trust. No one has negate what GM has done in the past and we are forever grateful. I'm sure the families out of work because of GM don't have a desire to purchase any of their products right now.

91z4me - 6/1/2009 6:12:53 PM

0 Boost

Honestly, No. As big of a GM fan as I used to be, I turned my back on them sometime around last December. When the following decisions came out within weeks of one another I decided I was done with them: to delay the introduction of the Chevy Cruze 1 year to NA, not sell the production version of the Chevy Orlando concept in NA, and to rebadge the Chevy Aveo (AKA Daewoo Kalos) as a Pontiac G3. Those are the reasons that GM has done so poorly in handling itself. Lets develop great, top in class product but not sell it in the US for a year or at all. And lets take the crappiest car we have and give it a twin.

If I buy a new car ever it will be a Ford or an import. I am done with GM and Chrysler, for good.

EL34 - 6/1/2009 9:03:38 PM

+1 Boost

I will NOT buy a GM car until they are once again out of the Governments hands and the UAW are dead and gone!

PUGPROUD - 6/2/2009 9:02:08 AM

+2 Boost

I will trust them only when its CEO is a car guy who will not let a car leave the factory that isn't spot on because he knows his personal reputation amongst enthusiasts is on the line day in and day out every day. A guy who has motor oil running thru his veins like the rest of us who really love and care about cars.

thstone - 6/2/2009 7:11:06 PM

+1 Boost

Yes. As soon as GM makes cars across the board as good or better than the world leaders Honda and Toyota. Where is GM's Accord? Or their Prius? Or their Highlander? Where is their 3-series? Where is their GT-R?

Yes, GM has a few good cars. The CTS is a very good car that is close to the 3-series but how can you explain the SRX, SLR, and Escalade?

Two or three good cars in a mix of 8-10 bad ones ain't gonna cut it.

91z4me - 6/2/2009 11:00:15 PM

+1 Boost

To be honest GM has competitors that are as good as the competition in most of those categories. The Malibu fares VERY well in reviews vs the Accord. The upcoming Equinox will be neck and neck with the Highlander in reviews, IMO. But as you address GM's problem isn't that it doesn't produce some world class products, the problem is that it isn't consistently producing world class products.

veyron1001 - 6/2/2009 9:59:22 PM

+1 Boost

As soon as an Asian or European company buys them out.