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GM To Declare Bankruptcy Monday, Chief Restructuring Official Named
Detroit, 4:12 PM
Thu Dec 10
26 posts in the last 24 hours
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GM To Declare Bankruptcy Monday, Chief Restructuring Official Named |
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06/01/09
One way or the other this is just the beginning of something very bad. The changes that need to be made in order to make GM a viable company will cost a lot of people their jobs. If they try to preserve those jobs GM will become a money pit.
I have a feeling a lot of people are going to come face to face with just how much the US economy depends on GM.
06/01/09
06/01/09
06/01/09
06/01/09
I've been out of work for 5 months...Bloodcopy's fault.
The fan in my Jaguar shattered...Bloodcopy's fault.
My lawn mower is out of gas...damned Bloodcopy.
I seem to be out of Cheerios...
Bloodcopy is now worthwhile, if only as a scapegoat.
05/31/09
All these people that say GM is done, well keep supporting asians with rice cars! Shame on you!
ALWAYS DROVE AMERICAN CARS ALWAYS WILL!! US RULE!
GOD BLESS AMERICA!
06/01/09
05/31/09
I wonder why...
05/31/09
It does bring a certain chill to the spine, but really folks, we all saw this coming for at least a month, and there's really no way out of it. Let's just hope that some of the gearheads in the company, A)aren't completely silenced, or B) start their own companies to cater to those of us who truly car about the automobile.
05/31/09
They strong-armed the bond holders, made a mockery of our laws and precedents, and now they expect to have the clown who ran K-Mart turn around GM. Please
They're setting bad precedents.
That is part of the problem with this country. We place these CEOs in positions of power, even after they have failed other companies (Don't tell me K-mArt is successful, it is only surviving). Most of these CEOs can't even spell their title.
Is K-Mart really that successful? I don't think so.
The problem extends beyond Obama and his choices. Never mind that he plays party politics, I don't think the Republicans would have done any better.
We have set up a system of cry baby's and whiners. Murilee's horn is much needed in this government.
Congrats G.M. You sold your soul. Was it worth it?
What happened to taking responsibilities for your actions? When I fuck up- I admit it and take ownership of it.
This is the tip of the iceberg- it gets worse from here.
Did you expect much more from a guy with no experience except dallying around in Chicago strong-arm politics?
And as an aside- are you Jalopnik guys serious?
For how long will you continue to insult me?
I guess I'm the sucker for sticking around.
06/01/09
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05/31/09
When a company is allowed to become so large that it either employs so many workers or controls/affects a huge slice of the economy financial pie (see GM/AIG, et al), it is political suicide not to get involved.
I want anyone to play this out in their head............
2008/2009: For a # of reasons (some of which beyond their control), GM goes bankrupt. They either completely liquidate or lose tens if not hundreds of thousands of employees. Govt. is not invloved other than the normal bankruptcy proceedings.
2010 midterm elections (whoever isn't in power, doesn't matter which party): "Look at what THEY (whoever was in power) did!!!!! They let XXXXXXXXXXX hard working Amurrikans lose their jobs!!! They hate America! Elect US!!!!"
Day after 2010 midterm elections (whoever is no longer in power): "Wow, re really phucked up".
That's the sad truth of the matter. You should blame both parties equally becuase they are both morally and rthically bankrupt and they both would have done exactly the same thing.
05/31/09
Iacocca received a "loan," this is much different.
05/31/09
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06/01/09
Bankruptcy protection just postpones the legacy overhead, and lends some strength to negotiations of liabilities in the event of emergence.
Here's hoping that reorganization results in a more modern company that is more easily scalable to market demands, and not contractually bound to archaic social systems.
06/01/09
05/31/09
Do you shop at Kmart willingly today? Does *anyone* do so anymore?
Didn't think so, and there's the rub... Faretheewell, GM.
On the other hand, I guess they could refit the surviving dealers with giant illuminated GM parent logos, freely admitting GM's normal M.O. by officially unveiling the World's Biggest Blue Light Specials. "Push, pull, drag in your heap, come on down, everything must GOOOOOOO!!! This Escalade is Martha Stewart Approved!"
06/01/09
05/31/09
Who is with me?
05/31/09
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05/31/09
Those of you who think this country was a capitalist haven until the day Obama entered office really should crack open a history book sometime.
Bailouts, out-of-control spending, progressive income taxation, government-backed bankruptcies, manipulation of money printed on worthless paper, intervention in private industry, etc., etc., while deplorable, are nothing new. FDR is primarily to blame for the current state of the federal government, and no president--Democrat OR Republican--has done a damn thing about it since.
By mandating taxpayer-funded bailouts and government takeovers of failed businesses, Obama is doing nothing more than following in the footsteps of the Bush administration. Where was the outrage back then?!
And by the way, McCain said that he had planned to do the same. So I'm sure all of you people who hate Obama because he has a "(D)" after his name (rather than for the idiotic policies that he's continuing from the last administration) also consider him a "radical communist", right? And since Ron Paul and Bob Barr were the only candidates who weren't socialists, I have no doubt that you all voted for them.
99.999% of mainstream politicians, regardless of party affiliation, are corrupt shithead wastes of carbon who get support using stupid gimmicks (one candidate babbles platitudes about "hope and change", another picks a dumbass running mate who shot a moose or whatever), and it absolutely astounds me that there so many morons fall for it while completely ignoring their actual policies.
05/31/09
While, fundamentally, I disagree with anyone aligning himself with a politician based solely of party affiliation, in practice, party affiliation is a strong indicator of which candidate you would agree with most regarding his policies.
If you generally agree with the Republican party stance, there is little chance that the Democratic candidate will share more of your views than the Republican candidate.
I wasn't even in agreement with Barr 100%, but at 90+%, he was my clear choice over either mainstream candidate's 40-50%.
For what it's worth, if I thought for an instant that Michigan was going to be a close race, my vote would have gone to McCain (the 50%), since he was the lesser of two evils. Based on policy, not on party.
Politics be damned, I want Obama to succeed. If he fails we fail, and I want the country to thrive. I may not be very optimistic about his plans to bring us prosperity, but that won't stop me from hoping that it somehow works.
05/31/09
05/31/09
/wish to subscribe to your newsletter.
06/01/09
Obama and McCain are both complete idiots and, outside of arguably preventing further attacks on America and appointing a pair of non-activist SC judges, Dubya was a miserable failure. I begrudgingly voted for McCain because while he's yet another progressive twit, Obama's another FDR and I live in a swing state.
This country's going to go broke under the policy being created by the Dems in Congress and Obama, while the GOP does nothing because they want to look good or "give Obama a chance to succeed." Ridiculous. Ultimately, I'm a libertarian, but I've always voted Republican out of practicality. Maybe that has to change...
In 2010, if you're tired of this same old overspending, socialist crap, do something about it. If your congressional representatives are Democrats, vote Republican in 2010. If they're Republican, vote Democrat. Or hell, just vote independent. Point is, THROW ALL THE BUMS OUT.
06/01/09
/I don't fault you, since I've already stated if I thought my vote was going to make a difference, I would have voted McCain. But since I'd have been throwing it away voting Republican, I might as well throw it away voting Libertarian, and in doing so, lend what little credibility I can to the party.
[insert seamless segue to get back on the topic of cars]
Hopefully American Leyland has better quality control than their British predecessor.