SPRAYED 01

iTrader: (22)

Ive been reading alot about GM not having enough money to keep going past January. There is talk that with out Goverment help they could go under.
I know this sounds crazy,GM going out of business.Look at their stock prices right now.

Im alittle scared right about now. Could they stop the new Camaro all together?

Alex

http://www.marketwatch.com/news/stor...4146A6D20A5%7D

ls1passion

dont worry its an american car giant. they will never let it go under because toyota and other imports would take over.

SparkyJJO

iTrader: (11)

That's what some people want

Yeah I'm worried, last thing I want is GM to go under.

enginjoe

iTrader: (11)

Filing for bankruptcy protection doesn't mean going under or no GM cars ever again. It just means the pensioners are going to get screwed over. This is why the smart guys are retiring now and taking a lump sum. They cannot continue to pay people who don't work anymore and provide them health care. I believe that's what's going to happen just like it did with the airlines.

SparkyJJO

iTrader: (11)

Still gonna hurt a lot. And could mean few to no GM cars for a while. Right as the Camaro is due to come out too

scottp999

Yep. Deutsche Bank today said their outlook for GM stock is $0. They are losing 1.5 billion every 30 days.

I don't want them to go under, and I will assume that the bailout money will slide to them with the incoming administration. There is something like 2.5 million jobs dependent on GM when you add in all of the parts vendors, etc.

DHL laid off 9,500 today. Circuit city slashed more people at their headquarters today. I work at a large bank and we are constantly laying off small amounts of people for the last 12 months. It's going to be hard to sell cars when unemployement goes to 10% or higher.

triggerjerk

Don't worry.
Obama will fix everything.
He'll take those pension and health care liabilities right off of GM's books and onto your backs!

briannutter

GM Chapter 11 is the best thing for America at this point unfortunately. We gain back a GM that comes back to the ring at fighting weight...playing by the same rules as its competitors. A lot of workers and creditors get screwed, but I think their lives would be STILL be better than it would if we ALL went back into the great depression.

Either way, we'll get the Camaro, but I WOULD ask them to pull the trigger on a Gen5 engined Z28 ASAP. I'll buy it and do my little bit for the economy. I just CAN'T spend the money on it now if I KNOW there is a better one around the corner. I've given up on the idea of the LSA engined version.

ULTIMATEORANGESS

iTrader: (4)

i bought my last two GM cars new. i did my part.



a bankrupt gm mean tons of job losses. that means more foreclosures and more layoffs not directly automobile related. whole cities would be devastated. have you seen pics of detroit lately? its not pretty. im not sure a bailout is the best idea but theres really no other choice right now.

UltraZLS1

iTrader: (13)

Yeah it sure sucks that obama will be in soon. The last thing we need right now is a different approach to things. What we have going right now is so ******* flawless

Golf&GM

iTrader: (22)

Yea, let's hope the guy in my avatar gets his **** together. How messed up would it be for the government to own the insurance companies, mortgage companies, banking companies, and one of the big three. If they don't pay back these loans with their high interest rates the government takes ownership. It's hard to take but I'm with briannutter, failing companies should fail, it's capitalism.

twitchtwice

iTrader: (12)

even if it does go under, they already made the cars, they will sell them.

TORQDSS

that's called communism. I'm a GM dealer (I bought it a year and a 1/2 ago so it's still a new business) and I say let them go bankrupt and come back fighting, that will be better in the long term for everyone. most of the guys on pensions screwed GM for years and now it's just a little payback. If you're an employee who sits around all day getting paid and you try to find ways not to work you deserve whats coming to you. I hear stories all the time from people who worked for GM who did nothing all day... and I mean NOTHING. They are usually the first one's to think they are entitled to everything at the dealership too.

TriShield

Don't think for a minute that GM can't disappear. You can bet your rear it can.

People said the exact same things about Lehman Brothers, AIG and all these old, "rock solid" financial companies. It turns out the exact opposite is true. It's also true of Chrysler, Ford and GM.

People have been abandoning American cars for years, it's nothing new. With them went the support necessary to keep these companies afloat. It's been obvious for years that their businesses are unsustainable as they are and each refused to do what was necessary to complete reform the companies into smaller, leaner, companies with less brands, less employees and less models to stay profitable. Now they are all giants without the customer base to support them.

brad8266

iTrader: (23)

AIG didnt go down at all, they are getting 150 Bil courtesy of you and I and are still in business. As a matter of fact they took bail out money and went on a big company vacation to the Bahamas or some other islands for the company execs.

In todays economy under Bush and Liberals a huge company can get bailed out with multi billiions of our money yet Bush put in tough bankruptcy laws against the average person thats having trouble.

Little off topic but anyway, GM will be around, we will have to bail them out though. I say **** them and let them either figure it out or go under, no more of our money to support businesses. I dont see the government giving me **** for my business and I could really use the help right now but those ******** only help their loaded buddies.

NemeSS

iTrader: (127)

meh!
they need to fix it asap
this bail me out cuz i fucked up bs is getting out of hand.

LS1LT1

iTrader: (16)

Freaked out would be a huge understatement for what I'm feeling right now LOL.

Oh I looked, then I got a little lightheaded.








Same here.
I even took it a bit further in doing my part and bought A WHOLE BUNCH of GM shares last year as well.
Needless to say I'm having a very, very bad year.
But I'm still hopeful.

68Goatboy

iTrader: (1)

if GM is ever going to be able to compete financially with the jap auto makers, they need to go bankrupt, lose all their legacy costs and come back offering the same compensation as toyota and the like to their employees.

does an average janitor really honestly and truely deserve 24 bucks an hour plus extremely generous benefits?

LS1LT1

iTrader: (16)

No, he doesn't. I can't argue with ya there.

But I also cannot stand when people attack a company that tried to do the right thing and TAKE GOOD CARE of American workers back in the day with solid pay/health/education benefits while they praise foreign corporations that potentially took advantage of/exploited/overworked/underpaid it's employees to get where they are today.

Of course in the big picture the one who suffered working for say, Toyota or Honda might still have a job today while the guy who enjoyed the fruits of GM's generosity will now be out of work with nothing so I guess being the nice guy (as GM/Ford/Chrysler have been since the '50s) with your workforce doesn't pay.

caviness

iTrader: (14)

i think there are olot off people who would be glad to work for GM for say 15 bucks an hour with sum benifits and health care,i got 2 in my house right now that need a job. they should just tell everbody to take a pay cut or get another job and get rid of the people who think 15 or 20 an hour aint good money,but bankrupt and back will be better for everbody,then they can start over and keep all the bullshit out of the workforce,and just have honest employes and nobody at the side saying they need this or that or they wont work,but the goverment could help like if theres a strike they could send troups to run all them off if they dont want a job.