General Motors' Massive Negative Equity »

Posted By populist 1 year ago in Business & Finance

A logo of General Motors, is seen in this 15 January 2008 file photo, at the North American International Auto Show in Detroit. General Motors, the leading US automaker on August 01, 2008 posted a 15.4 billion dollar net loss for the second quarter of 2008. GM had anticipated 'a significant second quarter loss,' due to continuing volume declines in the US and 'shifts in vehicle mix,' as well as costs associated with strikes and charges, the company said in a statement.(Photo by STAN HONDA/AFP/Getty Images)

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Prop it 51 Drop it

GM and to a lesser extent Ford are broke and run operations which are simply economically unviable. They really should therefore go bankrupt and have their assets liquidated. But I doubt that the future President Obama will let that happen considering how many auto workers who would become unemployed in a time when unemployment is already rising fast and considering the support Obama has gotten from unions (Detroit auto workers are heavily unionized).

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