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I have to give you credit for even knowing they went through any kind of bankruptcy. Seem many still think that was avoided.
GM's biggest problem is and was legacy costs. Legacy costs were made a partial owner of GM as opposed to having been dealt with, going against every law and precedent on the books. Now granted our bankruptcy courts have been quite a scam in the past and most certainly was here, which is why GM will likely be in court again.
I have to give you credit for even knowing they went through any kind of bankruptcy. Seem many still think that was avoided.
GM's biggest problem is and was legacy costs. Legacy costs were made a partial owner of GM as opposed to having been dealt with, going against every law and precedent on the books. Now granted our bankruptcy courts have been quite a scam in the past and most certainly was here, which is why GM will likely be in court again.
I doubt a few pensions are enough to drag them down. They are earning money according their net income/NOI.
Considering the number of times in their history that they have "gone bankrupt" and were pulled out by bankers and other investors, I would say the probability is rather high.
The history of GM is an interesting read, especially William Crapo Durant.
google it.
GM and the entire car industry is built on hype and credit. Break down the cost of materials and market-value labor to see what a car really costs and it's eye opening. Another reason our economy is hollow.
GM and the entire car industry is built on hype and credit. Break down the cost of materials and market-value labor to see what a car really costs and it's eye opening. Another reason our economy is hollow.
You can finance a car for 9 years now. Dont rule out ever increasing guv regs as huge contributor of auto prices, but thats another thread.
I say GM falls like a house cards again.
I doubt we'll ever see the near-monopolistic GM of the 1950s again, but will GM continue to make money or was the bankruptcy the beginning of the end?
I know some hardcore Chevy guys, that gave up on them. They are driving Tundras and F-150's now.
The interiors would fall apart, if you drove on rough roads for very long and the rear main seals would start oozing oil before 60,000 miles.
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