Just last week – only 16 months since emerging from bankruptcy reorganization – GM has cut the U.S. Treasury’s ownership stake from more than 60 percent to approximately 33 percent. And in lieu of once again being traded on the New York Stock Exchange – the first step in re-entering the public sector – The General has prepared a minute-long “Thank You” video thanking all Americans (and Canadians).
What do you think? Did the commercial do a good job of being humble to the American people? Or should The General not have even stepped into the spotlight, let alone touched on what still is a very sensitive subject of receiving Federal aid? Sound off in the comments below.
Comments
Verry BOLD!
I love it, Bob Lutz probably loves it; GM fans will applaud. Other people I fear will laugh at it the way they laughed at the “let’s get rolling” add campain in 2001. That’s ok though those people would’nt even consiter a GM product, probably not even anny domestic. It will do no harm, maybee it may even look curageous to people who are not GM enthusiasts, we can only hope.
It worked on me, I’m not gonna lie. Then again I’m one of those who’ve messed up and have been given a second chance. Thanks for the post! And you’re right… humility is the key.
That was awesome. I think it’s the best “commercial” I’ve ever seen. What a sentiment and way to share it. A class act.
GM–Congratulations on your comeback. You’re welcome–thanks for making it worth our while and for rising to the occasion. We can do it if we try and if we’re given the chance. Let’s just hope congress gives the rest of America a chance, too.
The commercial is embarassing. If you gave me the government’s money I would make money too. As a taxpayer this is absolutely gross. If the government put money in any business I started I would take over the world too…The commercials a joke.
The only reason you are getting back up is the government. That s what the commercial should say. Thanks to all the taxpayers in the US we couldnt have done it without you…We hope to bring you a great product…Kind of like the Domino’s commercial where the CEO came on and apologized for being such a crappy product for the last 10 years. An apology by GM would serve there reputation a lot better…
Jim, GM’s newest products are best in their class. What good is it to apologize for previous products? They had to file for bankruptcy and paid for their previous uncompetitive products in that way, without mentioning drops in mind share and trust. On top of that, they’ve gone through 4 CEOs within the past 4 months… again, what’s the point of apologizing? It’s clear that the New GM kicks ass left and right, so I think it’s time to get off the “I want my apology” soapbox.
PS: are you SURE that you’d make a successful business with government (or any kind of) money? Most people who get a small business loan actually pay it from a personal salary when their start-up biz fails…
Of the original Forbes 100 companies listed in 1917, only 13 have
survived to this day.
I think this tells a lot about planning and strategy than the
competitive environment at large.
interesting…Which ones have had government money. I just looked you up. Nice work on the site. Its money… I do like this forum…
P.S. I work for a tech startup and I have never posted in an online forum ever. So you did something right…
Jim,
Thanks for the complements; I appreciate it.
But when we come to the topic of GM taking government funds, it’s not as simple as black and white. Yes, there was a ton of mismanagement and bad decisions made at GM back in the 90s and early 2000s. However, the fact that GM is making the best vehicles on the road today speaks of the major turnaround that occurred BEFORE government intervention, the bankruptcy and following bailout. It takes a few (several) years to deliver a vehicle to market (this goes for any and all automotive companies, not just GM). So the fact that we’re getting products such as the Camaro, Cruze, Volt, Equinox, CTS Coupe, among others, TODAY, means that these plans were in motion at the OLD GM before “government money” was even a topic in the first place.
What brought OLD GM down to its knees is cash flow; they were making a comeback, not many knew about it, the aforementioned best-in-class products were in development, but the economic crisis of 2008/2009 was their last blow.
So when we talk about GM, it’s not a matter of “whether it took government money.” It’s important to understand that there really wasn’t any other choice. GM needed money, and needed it fast. Would you rather them a) fail and close doors forever or b) gather up a thousand VCs and a gazillion Angel Investors to fund a (nearly) $60 billion bailout? Heck no.
Choice A would put even more people out of work and be another blow to the already-troubled economy. Choice B is simply not realistic – and being involved in a startup, you should know this first hand. As such, the government was the only choice. In effect, the government acted as a Venture Capital firm in this case.
Alex Luft,
Founder, GM Authority
PS: No, I do not work for GM nor am I paid by GM. I’m the founder of this very website – called GM Authority – which is the best INDEPENDENT GM fan site on the planet. 🙂
Great commercial!!! When you get knocked down you learn lessons when you get back up. I hope GM learns these lessons to stay profitable. Run the race to win not come in second place to Toyota.
Wow…I wasn’t expecting this. Like most people I sat through it, wondering “what IS this?” Then…the message at the end. VERY well done…quiet, understated, simple…and, I thought, heartfelt.
Thank YOU, General Motors.
I also agree it was a good commercial and struck the appropriate tone. I find all the comments by people complaining that their tax dollars paid for that commercial. Apparently, they are not aware that GM paid back in full the loan portion of the bailout back in April.
GM at least acknowledged “the people” by doing this commercial. I personally don’t recall ever seeing a commercial from the banking industry thanking us or offering to take the American taxpayers along on their “bonus” trips to the Bahamas!!
I was angered by it. This company refused to live within its means, refused to consider using its foreign profits toward its problems, and deal with the UAW. I will buy my first Ford next year. My father in law bought a new Ford truck just last week, first time in 30 years. I hate GM.
Alex-
Do you work for GM? I don’t take money from the government. I use my own money and investor capital. The government should not be in the business of bailing out companies.
Obv the banking crisis was different cause the government created the moral hazard in the process. The government needs to get out of biz in general…GM included. Obv they still need oversite for industrys as well as federal agencies. But all this BS supporting GM or any other company is not free enterprise and not what this country was founded on..
Im curious Alex what do you do?
JIM,
Alex receives nothing from General Motors. Let alone Federal aid. NONE of us involved in this website work for GM, nor do we receive anything to write about GM. This website is dedicated to bringing the best information, opinions, reviews and news on GM through articles, videos, podcasts and forums. We are completely independent from GM.
This is what we do. Tell your friends.
Regardless, whether or not it was “free enterprise” (as if Toyota, M-B, Hyundai, VW and Honda didn’t receive any government funding/subsidies to manufacture vehicles here in America — because they most certainly have,) there were virtually no alternatives, as Alex pointed out.
And the cannibalistic view of leaving everyone to “fend for themselves”, should GM and Chrysler closed its doors forever, should be taken into review. Tell me, who would hire 60,000 engineers today? Or even more assembly line workers? It’s a principle that has always been much easier said than done. And don’t say that the bank scenario was “different”, because what would happen to this country if its financial sector was left to collapse? Easier said than done. Whether it happens again or not, the actions set forth by the Bush Administration and passed onto the Obama Administration will be something that will be studied for years to come.
Manoli Katakis,
Editor In Chief — GM Authority
I have NEVER written to comment about an ad, but as soon as I saw this felt I had to. It was an excellent piece of work, and while the company did mess up, and I am a conservative at heart, this was the right move with the best possible results: a restart for an iconic company that employs a ton of people, and a payback to the taxpayers. If there’s anything wrong with that, I don’t see it. But the ad: smart, emotional, and just about perfect. I called my wife over and reran it for her. We’re both in marketing, and kudos to the company. BTW, I have nothing to do with the car industry, just want to shout out to great results from the company, great move by the government, and a pitch-perfect ad!
I really liked the commercial. On a day of giving thanks, it is appropriate for those who have been helped by the US gov’t and the American taxpayer to actually express due appreciation for said help. Moreover, the fact is that GM is in a much better position today, and despite their failures of market discipline in the past decade plus, it wasn’t all their fault that they faced bankruptcy. I’ve been happy watching football today to see a level of humanity and unity communicated in this commercial, Kid Rock’s performance, and otherwise.
Our country’s rhetoric of freedom vs. socialism, Democrats vs. Republicans, etc is so shallow. This kind of humility should be seen by many other members of our broader society.
I really liked this commercial and I was deeply touched. Then after some time to think about it, I couldn’t help but wonder how many GM executives gave money and supported politicians who voted against extending unemployment benefits or other assistance to the American people who have also suffered in the downturn of the economy?
BPs propaganda has led me to be overly skeptical of any corporation’s appearance of good behavior.
I felt very insulted by this ad. GM is thanking us the American people for helping them out to stand up while there are millions of Americans losing their houses, losing their jobs…and who is helping them stand up??? Which by the way it was their tax money that GM used…this is very sad and unfair. In this system the more money you have the more opportunities you get to get back on your feet. And on top of that if you have less than perfect credit go ahead and try to get one of those cars to see if they will help you stand up…they won’t. I think this ad should be taken down because is an insult to those millions of Americans trying to get back on their feet again.
Thank you FORD for not taking a government bailout. We all fall down but we need to pick ourselves up; not wait with our hands open to become a socialized entity. Yes GM “paid off” their debt to the US – after the government forgave the majority of the loan. Bothers me how we have all forgotten what got us in this position in the first place!
Hold up a sec Michael… Are you being anti-government bailout just for the sake of purity? After reading the comments preceding yours, are you sure you’re even adequately informed to comment about this matter with adequate accuracy? Not trying to flame it up, but rather trying to get the reasoning behind your opinion.
Alex Luft
Founder, GM Authority
The commercial really is outstanding. Hope the ad people get a big bonus for it. And I love that instrumental version of ‘He Ain’t Heavy, He’s My Brother’. It was a nice touch.