Casper Posted May 20, 2009 Report Share Posted May 20, 2009 GM filing bankruptcy... Selling healthy assets to US government. This is officially fucking nuts. Socialism anyone? http://www.reuters.com/article/mergersNews/idUSN1943363120090519 Quote Link to comment Share on other sites More sharing options...
excell Posted May 20, 2009 Report Share Posted May 20, 2009 They're not filing yet. That's only speculation on a potential plan. They'll have to file, I'm 9x% sure, but it's not official yet. Quote Link to comment Share on other sites More sharing options...
Balian Posted May 20, 2009 Report Share Posted May 20, 2009 My friend just bought a new car about a year ago and got a letter in the mail from them talking about this. It gave details about warranty coverage and parts and what not.. It is completely nuts.. Better buy the car you want now before all of the prices go way up.. Quote Link to comment Share on other sites More sharing options...
Snowflake Posted May 20, 2009 Report Share Posted May 20, 2009 Damn!!! that sucks... I guess they should have restructered long ago before they asked for tax payers money to survive then maybe this wouldnt be happening... Quote Link to comment Share on other sites More sharing options...
Casper Posted May 20, 2009 Author Report Share Posted May 20, 2009 Damn!!! that sucks... I guess they should have restructered long ago before they asked for tax payers money to survive then maybe this wouldnt be happening... *cough* like Ford *cough* Quote Link to comment Share on other sites More sharing options...
Casper Posted May 20, 2009 Author Report Share Posted May 20, 2009 They're not filing yet. That's only speculation on a potential plan. They'll have to file, I'm 9x% sure, but it's not official yet. The new company which is owned by the government has already been created. No they haven't filed bankruptcy, but they're laying out the groundwork for it right now. Unless the economy turns around and people start buying cars in the next 30 days or so, this is happening. Quote Link to comment Share on other sites More sharing options...
thorne Posted May 20, 2009 Report Share Posted May 20, 2009 I would gladly buy a new camaro if I didn't owe on my WRX. as for the statements regarding socialism PLEASE tell me your option to fix this. Letting everything colapse is not a possiblity. Just because some of us sit comfy in jobs that are very solid. How many jobs will be lost if GM 100% dies? This is why when a company gets to large it becomes a problem. If POntiac and Chevy and OldMobile and Caddy where all there own entitys 1 failing would not be so bad. Lets do some if then. IF 1/4 million people lose there jobs thats 1/4 million people not paying taxes but sucking resource on welfare benfits. That is going to cost us dearly. Then People will buy less and spend less because the total sum of funds will be lowered. This will cause other company's to suffer and fold. Else. I would love to see one person come up with a 100% end all solution but not a single person I hear Screaming socialism have proposed a reasonable alternative. Do I want GM owned by the goverment? No but if its the only way to save thousand upon thousands of jobs then fuck man what else do you do? It's not like GM collapsing only affects GM it affects its suppliers. Its dealers. So what do you do besides complain about how socliasm is taking over? Why not propose options that won't have tons of people jobless. The number of jobs is kinda of a static number as in there are only so many jobs out there. When the goverment trys to add jobs people whine When the goverment trys to solve failing companys issues people bitch When the goverment does nothing people suffer. There is no easy answer We've seen this hit home. I've got a few friends who worked at various dealerships and they are jobless now. ======== EVIL THORNE ======= The more jobless the more thefts the more sales for myself. Quote Link to comment Share on other sites More sharing options...
Bam Posted May 20, 2009 Report Share Posted May 20, 2009 ======== EVIL THORNE ======= The more jobless the more thefts the more sales for myself. Right, because all the jobless people/businesses struggling would drop $500 on a security system... 1 Quote Link to comment Share on other sites More sharing options...
thorne Posted May 20, 2009 Report Share Posted May 20, 2009 Right, because all the jobless people/businesses struggling would drop $500 on a security system... No but small business who want to monitor there shit would. I'm quite happy with the progress of my company. There only other solutions on the market that come CLOSE to the features and abilities of our system cost 5g + I'm not here to debate the merits of my companys business plan nor product BTW The government's plans include giving stakes in the new company to GM's union and bondholders, although the ownership structure of the company is still being negotiated, said the source who is familiar with the company's plans. I missed how thats socialism Quote Link to comment Share on other sites More sharing options...
Hwilli1647545487 Posted May 20, 2009 Report Share Posted May 20, 2009 I would gladly buy a new camaro if I didn't owe on my WRX. as for the statements regarding socialism PLEASE tell me your option to fix this. Letting everything colapse is not a possiblity. Just because some of us sit comfy in jobs that are very solid. How many jobs will be lost if GM 100% dies? This is why when a company gets to large it becomes a problem. If POntiac and Chevy and OldMobile and Caddy where all there own entitys 1 failing would not be so bad. Lets do some if then. IF 1/4 million people lose there jobs thats 1/4 million people not paying taxes but sucking resource on welfare benfits. That is going to cost us dearly. Then People will buy less and spend less because the total sum of funds will be lowered. This will cause other company's to suffer and fold. Else. I would love to see one person come up with a 100% end all solution but not a single person I hear Screaming socialism have proposed a reasonable alternative. Do I want GM owned by the goverment? No but if its the only way to save thousand upon thousands of jobs then fuck man what else do you do? It's not like GM collapsing only affects GM it affects its suppliers. Its dealers. So what do you do besides complain about how socliasm is taking over? Why not propose options that won't have tons of people jobless. The number of jobs is kinda of a static number as in there are only so many jobs out there. When the goverment trys to add jobs people whine When the goverment trys to solve failing companys issues people bitch When the goverment does nothing people suffer. There is no easy answer We've seen this hit home. I've got a few friends who worked at various dealerships and they are jobless now. ======== EVIL THORNE ======= The more jobless the more thefts the more sales for myself. I am completely cool with letting it all collapse. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted May 20, 2009 Report Share Posted May 20, 2009 The last time I was at a gm plant alot of the guys had an opinion that this is the solution to break up the union, and force out older employees who are at retirement age. Quote Link to comment Share on other sites More sharing options...
Wease Posted May 20, 2009 Report Share Posted May 20, 2009 1. File for bankruptcy 2. Restructure 3. Kill off the UAW 4. Profit I've been saying this for years now... :nod: Quote Link to comment Share on other sites More sharing options...
Brandon Posted May 20, 2009 Report Share Posted May 20, 2009 Vote Republican in 2012! And democrats getting rid of big labor (aka the union) is a pipe dream, absolute pipe dream. The UAW will have an even bigger stake in GM now, after the bankruptcy, not the opposite... Its very sad. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted May 20, 2009 Report Share Posted May 20, 2009 Go Ford. Quote Link to comment Share on other sites More sharing options...
Drewhop Posted May 20, 2009 Report Share Posted May 20, 2009 I am completely cool with letting it all collapse. +1 Quote Link to comment Share on other sites More sharing options...
thorne Posted May 20, 2009 Report Share Posted May 20, 2009 1. File for bankruptcy 2. Restructure 3. Kill off the UAW 4. Profit I've been saying this for years now... :nod: ^ That is a good idea But its not going to happen because eatherway more jobs are lost Quote Link to comment Share on other sites More sharing options...
Dave1647545494 Posted May 21, 2009 Report Share Posted May 21, 2009 sure it will gm will just build cars in china like every other company that can't afford union wages Quote Link to comment Share on other sites More sharing options...
Draco-REX Posted May 22, 2009 Report Share Posted May 22, 2009 Vote Republican in 2012! And democrats getting rid of big labor (aka the union) is a pipe dream, absolute pipe dream. The UAW will have an even bigger stake in GM now, after the bankruptcy, not the opposite... Its very sad. Then it won't work. To turn a profit in a market where prices are relatively stable, you need to cut costs. Paying your workforce $40/hr for a $10/hr job is NOT the way to do that. Foreign companies will still be able to provide a better product for the same price and make more of a profit. I've had the pleasure (not) of driving a couple of GM's entry-level products recently at work. We have '07 Chevy Colorado pickups normally, but rented a '08 Cobalt while one was in the shop (I also rented an 07 Malibu last year.) They are all surprisingly bad. I would hope that not all of GM's products are like these, but they REALLY show how the product suffers when cost cutting is made to quality rather than production costs. Quote Link to comment Share on other sites More sharing options...
Solo Vette Posted May 22, 2009 Report Share Posted May 22, 2009 You know the speculation is enough to damage the business. I have customers that will not buy a Saab, because they think they cannot get parts because GM is filing BK. Seriously, some of these people want to sit and talk about this mess being Socialism. Great, you think you have educated yourself on politics, but you need to get a clue. Yeah ok before I get off topic. Who really wants to see GM fail? Quote Link to comment Share on other sites More sharing options...
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