It’s the End of GM as We Knew It »

Posted By STONERS 6 months, 3 weeks ago in Business & Finance

In about a week, we will witness the darkest day in American business history. That’s because on or about June 1, General Motors (GM) will likely file for Chapter 11 bankruptcy protection.

Read Full Story at reuters.com »

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    reallypsst6 months, 3 weeks ago

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    This doesn't mean you wont see gm vehicles,it will make the company a little smaller and more competitive,and the new king on the block Ford will dominate ,as you see folks events always come around full circle ,this nation started out with MR henry ford now his legacy will reemerge !

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      simonsez6 months, 3 weeks ago

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      Our system requires that when companies fail, they are allowed to re-organize under bankruptcy laws. They come out of bankrupcy able to compete. The jobs they keep are the jobs they need to keep.

      Obama has screwed this up and I hope it comes back to haunt him. This is the ugliest, messiest misuse of government power in my lifetime. He owns this mess and when he forces them to make cars nobody wants, they will have to subsidize forever.

      Can you say "Chavez"?

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        simonsez6 months, 3 weeks ago

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        Mattel (hot wheels) is now 7 times larger by capitalization than is GM. GM's capitalization is now less than $800 million, but we have already dropped over $19 BILLION into them.

        The government has no business being involved in this, but they are only holding up UAW and Michigan ... not the American people.

        And it is just getting started.

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          globalwarmer6 months, 3 weeks ago

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          Boo effing hooo! I can't say I've owned any of the General's cars but I know some of they're current lineup are world class, I just can't get sentimental about the whole apple pie thing or the UAW. Besides, change is good, it allows life to go on.
          Of course I have no GM stock either... so that helps. But to blame GM's problems on Obama is just plain retarded. The 19 Billion dumped on them could have been just as easily wasted elsewhere.

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