bitkahuna

iTrader: (20)

in a few days, gm is likely to declare bankruptcy. whether gm forces dealers to close or not, i believe sales are going to plummet.

what do you think?

rdgdawg

Can't go down much further... + their most loyal sales reps are now jumping ship... VERY scary... and I don't have much sympathy based on how they're treating prospective customers lately

MPLexus301

iTrader: (3)

It's just disgusting to consider how much money has been thrown at both GM and Chrysler, allegedly to prevent them from filing for Ch.11 because that would "devastate our economy", and now here they both are with nothing to show for it, after wasting nearly 50 BILLION DOLLARS.

Pure robbery.

dunnojack

i don't care either way. unless they give us all free leases on the corvette.

MPLexus301

iTrader: (3)

At this point, I think we are entitled

IS-SV

Yes, as a bigtime taxpayer.

nabbun

hand me a z06

rominl

iTrader: (4)

what do i think? a decision made a few yrs too late?

i don't need them to go away, just restructure and get rid of the retarded union and let them grow up again

Stormwind

Sigh......sigh...wasted 50+ billion dollars and got nothing to show for except bankruptcy. GM has about 350k workers they could have just bulldose the place divide the $50 billion and EACH worker gets $7 million and go home rich. Economy gets stimulated for sure if they would just do that, imagine that $50 billion going back into the economy. sigh...

rominl

iTrader: (4)

how do you get that figure of 7 mil each?

LexFather

Pathetic can't begin to describe it.

Mr Johnson

Not forcing this (bankruptcy) sooner is the sin I believe we are guilty of because I think many of us easily saw this coming.

However the $50B isn't just *gone* a good part of it was actually used to pay suppliers (you know people who employ people) for goods (you know stuff they bought) as well.

Should we just have told all the suppliers "Thanks for the parts good luck!" aka "FU"? Remember, this is going to get ugly before it gets better.

bitkahuna

iTrader: (20)

if only it were that simple. i agree about the union, but the chance of it coming back from a collapse i would say is slim. i believe chevy and cadillac will emerge as either 2 separate or 1 new company with a new name, new management, new everything.

but it will be a SMALL operation with NO guarantee of survival. the good news, they have some good products done and in the works.

the bad news, the union crippled their manufacturing process so badly that a 'new' company may not be able to build anything profitably.

FKL

The money from treasury wasn't "wasted" number one. Number two, ch.11 is going to be a death sentence to both sales and dealers. It's a huge risk. I expect obama to at least try and portray a charter.

Orzel

iTrader: (1)

What's next? It's Obama Motors, building cars, at taxpayer expense, with shoddy parts, and a lousy warranty, that no one wants. Then the next step will be to mandate that all civilians must procure at least one of the Obama Motors Peoples Car. The re-education camps will follow shortly for those that dissent.