Bye Bye GM

[equate975]

http://www.autoblog.com/2009/05/31/report-gm-to-declare-bankruptcy-before-markets-open-chief-rest/

General Motors' bankruptcy endgame appears to be at hand, with word coming out that the automaker will indeed file for Chapter 11 protection early on Monday morning, which in turn is expected to trigger $30.1 billion in U.S. government loans.

As part of the Chapter 11 bankruptcy proceedings, GM will see its stock-trading ticker removed from the Dow and S&P 500 on Monday, with those who have still been stubbornly holding on to stocks effectively losing everything.

[equate975]

http://www.autoblog.com/2009/06/01/president-obama-addresses-nation-on-gm-bankruptcy/

"The President also acknowledged the key players who made sacrifices to give GM's reorganization a chance at success. They include the United Auto Workers union"

LOL yeah because they were sooo corporative.


"the government has pledged another $30 billion to get the automaker through this 60-90 day bankruptcy process"

[Tree18is]

thats horrible...

[hugh jass]

GM isn't going anywhere. Chapter 11 is for restructuring, not liquidation. It will be smaller after all is said and done, which is what has needed to happen for a long time.

[Leaf]

They need to not be fucking retarded and keep up with the changes in the auto market. Classic example of stubborn waffleswaffleswaffleswaffleswaffleswaffles white american men thinking they are above it all with there "classic american car company" fuck that. The market changes they've completely failed at adapting to it and instead decided to do there own thing which is not what people wanted to buy. Thanks to GM's stupidity and stubbornness all of the business for car's is going over to the Japs, fucking great.

[Dozyproductions]

why have do you have to make it about waffleswaffleswaffleswaffleswaffleswaffles white american men?

[equate975]

GM isn't going anywhere. Chapter 11 is for restructuring, not liquidation. It will be smaller after all is said and done, which is what has needed to happen for a long time.

smaller, more in debt, then broke again.

[87e30]

Sticky situation.

Truck sales declined less than prius sales which plummeted. I mean they need to make fuel efficient cars but it's tough when truck sales are strong and fuel efficient car demand has dropped with falling gas prices.

[rockchic22]

They need to not be fucking retarded and keep up with the changes in the auto market. Classic example of stubborn waffleswaffleswaffleswaffleswaffleswaffles white american men thinking they are above it all with there "classic american car company" fuck that. The market changes they've completely failed at adapting to it and instead decided to do there own thing which is not what people wanted to buy. Thanks to GM's stupidity and stubbornness all of the business for car's is going over to the Japs, fucking great.

whoa buddy. whoa.
deep breath.
now try again in english.

[xwill112x]

1 small step for man,

1 giant leap towards SOCIALISM.


U.S GOV'T FTL

[Turf1600]

1 small step for man,

1 giant leap towards SOCIALISM.


U.S GOV'T FTL

Yeah, since this is the govt's fault.

[hugh jass]

1 small step for man,

1 giant leap towards SOCIALISM.


U.S GOV'T FTL

How about dropping the socialism bullshit and give the plan a chance to work? The government DOES NOT WANT to be a long term owner in GM. They want to get GM back on its feet so it can be competitive on its own. Yes the government will temporarily own 70% of the company, but its a far cry from communism or permanent nationalization.
Do I like the fact that so many taxpayer $$ are at risk? Fuck no, but I'm willing to give the plan a year or so to work and then make a judgment. I like Obama, but if he fucks this one up, there will be hell to pay.

[JasonC]

They need to not be fucking retarded and keep up with the changes in the auto market. Classic example of stubborn waffleswaffleswaffleswaffleswaffleswaffles white american men thinking they are above it all with there "classic american car company" fuck that. The market changes they've completely failed at adapting to it and instead decided to do there own thing which is not what people wanted to buy. Thanks to GM's stupidity and stubbornness all of the business for car's is going over to the Japs, fucking great.

Do you have a clue to whats going on in any thread that you troll in?

[TexasTerp]

How about dropping the socialism bullshit and give the plan a chance to work? The government DOES NOT WANT to be a long term owner in GM. They want to get GM back on its feet so it can be competitive on its own. Yes the government will temporarily own 70% of the company, but its a far cry from communism or permanent nationalization.
Do I like the fact that so many taxpayer $$ are at risk? Fuck no, but I'm willing to give the plan a year or so to work and then make a judgment. I like Obama, but if he fucks this one up, there will be hell to pay.

I agree with JasonC, have you not payed any attention to what the government has been actually doing??? (pay attention, that means not what they are saying.) You know there has to be something embarrassingly wrong when we have the Chinese Government criticize the US Government for there horrendous spending. If the Communist government think we're making a big mistake, how can you still think this is going to work?

And another thing, ever heard of Great Britain? They are ten years ahead of us in the depression and we are following their demise word for word. Our government is doing EXACTLY what Britain did and look where it got them! Even they are yelling at us to stop!

[Farbin Kaiber]

Do you have a clue to whats going on in any thread that you troll in?

This. JasonC, can ya resolve it for us? I'm getting tired of reading it...