[allistercrowly]

This is another big hit to a state that has already been hit by the economic down turn and is in a one state depression. Now another blow with GM laying off what CNN just said at least 20,000. This bankruptcy also has another effect, in that some people contemplating getting a new car will now not look at a bankrupt company. Personally I am looking and found a Nissan Versa for 9900. I drove it an it drives excellent and with a 1.6 L eng. it gets 44 MPG on the highway. And the reputation is almost there with Toyota. I own a Cobalt and have had it in the shop 5 times in the first year. My other car is a Toyota Camry that I bought used and have never had it in the shop once in the 24 thousand miles I have owned it. Personally I have owned Subaru’s, and Toyotas and never had problems, I have owned GMs and the only thing that was worse was a Triumph TR7 that I bought on a lark once. I think I am a Japanese person for the foreseeable future.

[zthatzmanz28]

11 plant closings nation wide...3 distribution warehouses....20,000 factory jobs and still no totals on DEALERSHIP job losses!

Almost HALF the plants slated to close are in Michigan??

COME on GM...WILL IT EVER END???

[northstar22]

GM should just go out of business. Just get it over with, and let Michigan move on.

[michigan83]

I think I am a Japanese person for the foreseeable future.

I don't think you get to choose whether you are a Japanese person or not. I think it's genetic.

[Peter B]

I used to sell Chevy's and the Cobalt was an absolutely horrific product. A real piece of junk that loses 75% of it's value w/in 3-4 years.

Originally Posted by allistercrowly

This is another big hit to a state that has already been hit by the economic down turn and is in a one state depression. Now another blow with GM laying off what CNN just said at least 20,000. This bankruptcy also has another effect, in that some people contemplating getting a new car will now not look at a bankrupt company. Personally I am looking and found a Nissan Versa for 9900. I drove it an it drives excellent and with a 1.6 L eng. it gets 44 MPG on the highway. And the reputation is almost there with Toyota. I own a Cobalt and have had it in the shop 5 times in the first year. My other car is a Toyota Camry that I bought used and have never had it in the shop once in the 24 thousand miles I have owned it. Personally I have owned Subaru’s, and Toyotas and never had problems, I have owned GMs and the only thing that was worse was a Triumph TR7 that I bought on a lark once. I think I am a Japanese person for the foreseeable future.

[YAZ]

The job losses will be astronomical. Not just the assembly plants, but all of the suppliers. The businesses that support the suppliers, too.

Gas stations, convenience stores, donut shops and diners.

My last job in Michigan was with Metaldyne. Big tier one automotive supplier. They declared bankruptcy last week. In 1998, we were a division of 450 employees strong. Now they've downsized to one plant with 109 workers, and not sure if the plant will be closed or sold, or both.

These little towns (Hamburg, MI in this case), won't be able to survive, IMHO.

I feel sad.

[talbet]

I agree, Michigan is going to go through some very hard times and property values are going to plummet even more if that is even possible. I have relatives hanging on to property hoping things would turn around, they are going to pushing up daisies before that happens. This next winter of 2010 is going to be a long cold one for many residents of MI.

[magellan]

Originally Posted by talbet

I agree, Michigan is going to go through some very hard times and property values are going to plummet even more if that is even possible. I have relatives hanging on to property hoping things would turn around, they are going to pushing up daisies before that happens. This next winter of 2010 is going to be a long cold one for many residents of MI.

Purely anecdotal, but we recently refinanced and our appraised value was up from when we built 6 years ago. Not by much, but still up. I was shocked.

[ImaMichigander]

God love ya! I just got a call from our builder and he has sold the model, with a deck, finished basement and all of the bells and whistles and he got $70,000 to $80,000 less than it was listed for.

[Bydand]

Originally Posted by magellan

Purely anecdotal, but we recently refinanced and our appraised value was up from when we built 6 years ago. Not by much, but still up. I was shocked.

Mine is up as well over just last year. It really depends on WHERE in the State you are located. Not everyplace shares the same woes as Detroit due to the auto industry.