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Old 02-14-2009, 01:49 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,786,226 times
Reputation: 6435

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GM to say more aid or bankruptcy - WSJ - MarketWatch

General Motors Corp. will offer the government the choice of giving it billions more in bailout money or seeing it file for bankruptcy when it presents a restructuring plan next week, according to a report published Saturday.


It's funny to me to think that now instead of bankruptcy being a given if they don't get a taxpayer funded bailout, it's now a thinly veiled threat.

Don't click the link belowif you can't stand a few swear words....It's funny, though.

http://www.netzkobold.com/uploads/pi...ysler_ford.jpg


Imagine if your best friend sold widgets and no one wanted his widgets any more. Imagine if your friend asked you for a loan so he could develop new and better widgets. Imagine if your mom's company sold widget parts to your friend. Imagine if your dad's health care fund came out of the proceeds of your friend's widgets. Imagine if someone else could make better widgets cheaper...and they didn't need a loan.

Just....imagine.
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Old 02-14-2009, 01:56 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,656,692 times
Reputation: 3722
Is this really a surprise to anyone?

We knew the CEO's who came w/their tin cup in hand a couple months ago, would be coming back....

At least now you know they'll drive to Washington instead of fly....


I mean really, when do you shut the spigot off???
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Old 02-14-2009, 01:57 PM
 
Location: Marietta, GA
7,887 posts, read 17,133,531 times
Reputation: 3701
Do they need directions to the courthouse?
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Old 02-14-2009, 03:23 PM
 
20,187 posts, read 23,764,196 times
Reputation: 9283
They have used what they have ALWAYS used in the past against local and federal governments... LEVERAGE.... they are using employment as their leverage... they always have... that's why local communities (and state governments) always try to recruit businesses... they want the tax dollars that would be gained from income taxes by those employed by the company to move there... I say to Hell with their leverage.... we don't need as much as they think we do... its time government stop being corrupt and stand up for taxpayers.... unfortunately, Republicans and Democrats are inherently corrupt already... we sure know how to pick them don't we....
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Old 02-14-2009, 04:35 PM
 
186 posts, read 548,137 times
Reputation: 71
I don't like replying to these topics but I am kind of mad about the autos. I am in the market for a new truck. I will most likely buy a F150 because my uncle USE to work for ford. I am still a ford guy plus the trucks are solid. Anyway. These trucks are still way over priced. They keep pushing monthly payments to me. They want us to bail them out but they wont' even give us a decent price on their products. The can fail and everyone with them. Right now I just dont' care about them.

Ok done with the vent....
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Old 02-14-2009, 04:42 PM
 
Location: Great State of Texas
86,052 posts, read 84,183,047 times
Reputation: 27718
Did anyone really think they wouldn't be coming back for more ?
Did anyone really think the UAW would concede anything ?

Let'em declare bankruptcy..they have too much debt. A restructure is probably their best bet right now.
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Old 02-14-2009, 04:45 PM
 
Location: southern california
61,289 posts, read 87,144,090 times
Reputation: 55550
corporate america has found out how to be rewarded for poor performance.
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Old 02-14-2009, 04:46 PM
 
Location: Orlando, Florida
43,854 posts, read 50,929,825 times
Reputation: 58749
I work for a company that filed Chapt 11 , reorganized, sold assets and got back on track. I guess it helped that they had the Chicago Bears TO sell.....
but still, they did what they had to do and moved along.

I think this is EXACTLY what the car manufacturers have to do as well. They need to file Chapt 11, reorganize debt, sell some assets and either produce a good affordable vehicle or call it a day.
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Old 02-14-2009, 04:50 PM
 
13,811 posts, read 27,331,523 times
Reputation: 14244
Quote:
Originally Posted by neil0311 View Post
Do they need directions to the courthouse?
lol
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Old 02-14-2009, 04:56 PM
 
28,803 posts, read 47,528,453 times
Reputation: 37905
Hey, Wall Street got a second dip, why not the car makers? Seems fair to me. Me, I hear I'm getting $13.00 a week so I'm going to buy a second house, or maybe a nice foreign car...
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