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Old 12-17-2008, 08:42 PM
 
Location: Hope, AR
1,505 posts, read 2,897,775 times
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There was a report that they probably will soon. But what happened to the TARP money?
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Old 12-17-2008, 09:38 PM
 
939 posts, read 3,182,767 times
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Quote:
Originally Posted by Lulu101 View Post
There was a report that they probably will soon. But what happened to the TARP money?
GM hasn't been approved for TARP money yet. They will file for bankruptcy within days if they don't get $$$. The bailout (yes, it will happen) is just delaying the inevitable.
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Old 12-17-2008, 11:09 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
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They're expanding in Mexico. I guess the TARP money will pay for that and for massive bonuses to top management just before they file.
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Old 12-18-2008, 12:42 AM
 
Location: Heartland Florida
9,324 posts, read 24,720,614 times
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The chance of them filing bankruptcy is about as much as me becoming wealthy by 2012. The democRATS don't want their union buddies to lose ground.
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Old 12-18-2008, 04:50 AM
 
706 posts, read 1,206,133 times
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maybe they realized that it's their only salvation.
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Old 12-18-2008, 05:28 AM
 
12,869 posts, read 13,701,239 times
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it is ridiculous for them to expect american taxpayers to bail them out here when they just opened up a huge new operation in russia this november:
GM opens USD300 million assembly plant in Russia
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Old 12-18-2008, 09:48 AM
 
20,194 posts, read 21,557,440 times
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With or without the money... GM will still try to pull one over Americans... is that the kind of company you really want to bailout? Especially that promises to borrow more next year and the year after that...
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Old 12-18-2008, 12:10 PM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,815,465 times
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GM hired a large law firm weeks ago to work on its bankruptcy. Hunderds of attorneys with this law firm have been working on it.

There are many different ways for GM to file bankruptcy that are being considered, e.g. controlled bakruptcy, common bankruptcy, merger with another auto maker (i.e. Chrysler) with bankruptcy components, etc., etc.
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Old 12-18-2008, 12:20 PM
 
1,954 posts, read 4,936,432 times
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Very possible that they might, according to this article:

http://www.nytimes.com/2008/12/19/bu...19auto.html?hp
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Old 12-18-2008, 07:41 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,872,119 times
Reputation: 8068
Quote:
Originally Posted by floridasandy View Post
it is ridiculous for them to expect american taxpayers to bail them out here when they just opened up a huge new operation in russia this november:
GM opens USD300 million assembly plant in Russia
Oh, great .... I missed that one. So they're expanding in BOTH Mexico and Russia, but don't feel like using that money to fend off bankruptcy in this country ..... not when they've got a good fat bailout in the works.
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