Let GM go Bankrupt

Tags: Politics, Economy, Economic Crisis, Gm, Auto Industry
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You call that work? Sheesh!!

How much did it lose us? It's the opposite of work. It's us silly fuckers who get the work. It's negative work (krow, say). And no sweat required. It's more like a wanking operation than a banking one. Ego wanking mostly.

Without our work they couldn't buy a frog a fucking jacket.

Did you not know that? Shame on you.

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Well, it looks like GM is destined for BK. It's about fricken time, if you ask me.

I just wish it didn't cost us 30 billion dollars over the last 6 months to be in the same position we were in 6 months ago.

These bailouts have to stop. I can't wait to see GM go into BK, the world will not end, and the economy will not collapse, and we'll have realized that we wasted a s***load of money for NO reason (well, we did it for the Unions of course, so I guess that's a reason).

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@maporsche,

It is a GM bailout cloaked in a bankruptcy.

The gov't will end up owning 70% of it....the UAW get preferred shares that theoretically will generate 'income' so the union worker healthcare bills can be paid.

The gov't will pump about 50 billion more dollars into it to keep the shares viable if nothing else.

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@Brand WTF,

Unless and until the taxpayer starts receiving quarterly dividend checks from whatever form "TAXPAYER MOTORS" ultimately takes, I will not be buying any products. Fuck the Unions, Fuck the Management, Fuck Obama. This was the worst decision the US govt has made to bail this company out.....then they go bankrupt anyway.

Real smart people we have in Obama and Geitner.

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@Woiyo9,

I agree...I'll never buy a Chysler or GM product again.

Ford had better not take any bailout money either.

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@Brand WTF,

In a new deal the bondholders will end up owning 10% of the restructured GM(which will likely not survive).

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@Brand WTF,

Quote:

a new deal the bondholders will end up owning 10% of the restructured GM(which will likely not survive).

with warrants to buy more...if the new GM works they would come out OK. I am not understanding though how a company that has failed to innovate for a generation turns on a dime and comes out with product that the buyers want.

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@hawkeye10,

hawkeye10 wrote:

Quote:
a new deal the bondholders will end up owning 10% of the restructured GM(which will likely not survive).

with warrants to buy more...if the new GM works they would come out OK. I am not understanding though how a company that has failed to innovate for a generation turns on a dime and comes out with product that the buyers want.

It's certainly possible, if the alternative is death a lot of creatures make drastic changes in their behaviors.

If GM transitions to nothing at all but electric and hybrid vehicles made at the lowest cost they can, they could turn things around fast enough, as that is by far the largest developing worldwide market in automobiles today.

Cycloptichorn

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@Cycloptichorn,

Quote:

If GM transitions to nothing at all but electric and hybrid vehicles made at the lowest cost they can, they could turn things around fast enough, as that is by far the largest developing worldwide market in automobiles today

Smart cars and hybrids are clogging up the show room floor. In order for your idea to work the Federal Government would need to alter the fuel economics with a several dollar a gallon increase in the gas tax, which would be a very good idea.

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@hawkeye10,

hawkeye10 wrote:

Quote:
If GM transitions to nothing at all but electric and hybrid vehicles made at the lowest cost they can, they could turn things around fast enough, as that is by far the largest developing worldwide market in automobiles today

Smart cars and hybrids are clogging up the show room floor. In order for your idea to work the Federal Government would need to alter the fuel economics with a several dollar a gallon increase in the gas tax, which would be a very good idea.

Well, cars aren't selling well in general right now, and gas prices are low.

But it will take time to re-tool and reproduce cars for GM at any rate, so; there's a good chance that cars in general will be selling well in the future.

Also, there's been a lot of discussion of whether or not gas is going to rise in price again this year, as you know. If it does, interest in the more fuel-efficient vehicles will also increase.

There's no guarantee of any success for GM whatsoever, but there are at least possibilities which allow for it's survival.

Cycloptichorn

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PrezBO is killing the US automotive market.

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@H2O MAN,

You are too ignorant to understand that it's not Obama who is hurting our economy; it's the financial crisis that Bush wrought. Live with it! Thousands are losing their jobs almost daily, and this all started during Bush's term.

No job; no home or car buyers.

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Quote:

The roof the roof the roof is on fire
The roof the roof the roof is on fire
The roof the roof the roof is on fire
We don't need no water let the motherfucker burn
Burn motherfucker burn

http://www.sing365.com/music/lyric.nsf/The-Roof-is-on-Fire-lyrics-Bloodhound-Gang/4B8AFCFD3214FA7548256D250006E497

the new republican anthem, i guess. so much for "god bless america".

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@cicerone imposter,

You may be too stupid to understand this, but Bush is no longer our president and it's Obama that's trashing our economy. Deal with it!
Obama has spent all of the other peoples money and then printed up some fake money. The only way to pay it back is to raise taxes.
Obama is killing our economy at a rapid pace.

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@DontTreadOnMe,

Liberals are full of hate and they are the ones that are setting the roof afire.

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Now Gubmint Motor is owned 70% by Obama and the other 30% is owned by the UAW, who gave 99% of its donations over the last 50 years to the Dumboshits....

Is anyone paying attention? Time to lock and load people. Those UAW types aren't very good shots, kinda like their quality record.

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@cjhsa,

CJ...you're back! I've missed you.

1 Reply

@Foxfyre,

That figures! LOL

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@cjhsa,

cjhsa wrote:

Now Gubmint Motor is owned 70% by Obama and the other 30% is owned by the UAW, who gave 99% of its donations over the last 50 years to the Dumboshits....

Is anyone paying attention? Time to lock and load people. Those UAW types aren't very good shots, kinda like their quality record.

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Look, look.... two guys getting ready to kill socialists....

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Let GM go Bankrupt

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