Looks like GM is in some trouble

[JimWilson]

http://biz.yahoo.com/rb/040223/autos_gm_probe_1.html
http://forums.pickuptruck.com/showflat.php?Cat=&Number=327014&page=0&view=collapsed&sb=5&o=&fpart=1

[VFRRider]

There is no question GM is going to eat it on the Piston Slap issue. I'm sure their rounding up their legal eggheads to best figure a reduced liability outcome. So far they have dug in their heels to hold off the tide...but the dam is about to break, and it ain't gonna be purty.

[J54 Mark]

The various piston-slap suits will be merged into a class action suit. GM will settle out of court for $1 billion - that's a $500 certificate good only toward the purchase of a NEW truck to each of the two million owners of these trucks. The lawyers will get 33% - or $333 million, and they will take theirs in cash.

Mark

[ 02-24-2004, 12:51 PM: Message edited by: J54 Mark ]

[Rockin]

I would much rather see a recall where they just replace the cable with a hinged piece of flat steel or something that won't break. Should be just one bolt to replace.

[64postcarnut]

J54 Mark has it spot on.Where's the downside for GM? It sounds like they lose a lot of money.But, how many people will use the certificate? Let's say a third of the ****ed off recipients buy another brand.

So, that leaves about $300M outstanding.Gm then sells more trucks through certificate redemptions which they might not have sold otherwise.Instead of making $3K on a truck,they make $2500.

Boy, that's really going to hurt them.

I'm sure there's more to it,but that's the way I see it.

[Jimamatic]

Looks like GMs cost benefit analysis could backfire on this one. Cost being what it takes
to DO THE RIGHT THING, and the benefit of maximizing repeat business. So many companies in corporate America know the cost of everything but the value of nothing. Ethics, what ethics? How long has GM been building engines anyway? I own a 2001 2500hd Chevy 4x4 CC SB D/A. So far I've had my truck in for 3 warranty repairs. A one piece drive line, a new injector pump, and steering colunm rattle which has yet to be fixed properly.
Now I'm worried about my injectors going the distance. Then I rationalized that if I keep my truck for 150,000+ miles and have to fork over $5000 bucks for new injectors out of pocket, I've just bought my last GM truck. My next engine will be a Cummins with a truck in tow. It's as simple as that in my book. A freind of mine has a Dodge Cummins with over 340,000 miles on the original stock engine, and he says it runs like a top. 2nd tranny though. All at a lower cost to own and a better value in my opinion. But on the other hand
if my Duramax goes the distance like it should
then GM will have one more repeat customer. Just my two cents....


Jim-

[JimWilson]

Originally posted by Rockin:
I would much rather see a recall where they just replace the cable with a hinged piece of flat steel or something that won't break.Here's your solution right here... (http://www.vrstraps.com)

[VA_Dmax]

Those straps looked nice, but with the waiver you have to sign before you can order them, I wonder if they are any better than the cable? Click on the "order" tab then read "VR Strap Waiver"

[Idle_Chatter]

VA_Dmax, I have a set of the straps and they are not only bulletproof in design but completely visible for potential damage and failure versus the OEM cables that give no warnings or indications of potential failure. The fellow that is making/selling these straps is a family man and I think you might understand his concern that someone might make a poor decision somehow slightly related to his product that could be run forward by a greedy law firm looking only for money. Imagine for a second whether YOU would be willing to wager all your assets and your family's future and reassess the waiver.

[Jimamatic]

In my earlier post I stated that a friend of mine
has a Dodge Cummins with 340,000 miles but was on the second tranny. Well I just talked to him last
night and found out my info was in error. His truck actually has over 360,000 miles and is still on the original tranny. But he did have to
replace his alternator recently. Pretty impressive...

Jim-

[JimWilson]

I signed that waiver before I got the cables. I agree that it sounds rather ominous -- and personally I think it's a bit of overkill, considering his company is an LLC -- but I wanted to get rid of those crummy cables. Now.

The straps look very solid, so unless something really bizarre happens I don't think they'll ever give me a problem. And this past weekend I helped a friend move, and I felt a LOT safer standing on my tailgate then I did the week before I installed them.