Poll: Do you think GM will file for bankruptcy?

[Zim Hosein]

Things don't look well for GM at the moment! 🙁

 

[xanis]

I think bankruptcy is definitely in GM's future... but, they'll get bailed out. They're an American icon that's been around for many years.

 

[Queasy]

It will be a government managed bankruptcy like they did with Chrysler. Meaning, no good can come from it.

 

[Zim Hosein]

Originally posted by: Queasy
It will be a government managed bankruptcy like they did with Chrysler. Meaning, no good can come from it.

That's what I'm afraid of! 🙁

 

[Squisher]

If Obama wants it, and he does, it'll be so.

I'm not so sure it's going to go as smooth as he thinks it is.

Delphi is such a boondoggle right now, and GM is 10,000 X Delphi.

 

[tontod]

Originally posted by: Zim Hosein

Originally posted by: Queasy
It will be a government managed bankruptcy like they did with Chrysler. Meaning, no good can come from it.

That's what I'm afraid of! 🙁

Zim, I have a feeling you're having 24 withdrawal symptoms 😉

 

[xanis]

Originally posted by: Zim Hosein

Originally posted by: Queasy
It will be a government managed bankruptcy like they did with Chrysler. Meaning, no good can come from it.

That's what I'm afraid of! 🙁

The worst part is, the reason it's going to be a "managed bankruptcy" is because GM, like I said, is an American icon. No one, especially the government, is going to just stand aside and let it go away.

 

[Zim Hosein]

Originally posted by: tontod

Originally posted by: Zim Hosein

Originally posted by: Queasy
It will be a government managed bankruptcy like they did with Chrysler. Meaning, no good can come from it.

That's what I'm afraid of! 🙁

Zim, I have a feeling you're having 24 withdrawal symptoms 😉

Hi, my name is Zim and I'm having 24 withdrawal! 🙁

 

[Queasy]

Originally posted by: Xanis

Originally posted by: Zim Hosein

Originally posted by: Queasy
It will be a government managed bankruptcy like they did with Chrysler. Meaning, no good can come from it.

That's what I'm afraid of! 🙁

The worst part is, the reason it's going to be a "managed bankruptcy" is because GM, like I said, is an American icon. No one, especially the government, is going to just stand aside and let it go away.

Even if you do a normal court-run bankruptcy, GM will not go away. It would just be a restructuring of their debt, restructuring of contracts, reorganization of business units, etc. Some assets might be sold off but ultimately, GM could and probably would survive.

However, it is clear that this administration wants the car companies run a certain way to the benefit of the unions and to the benefit of the environmentalist crowd. And they are more than willing to usurp standard rules to make it so.

 

[KLin]

So what's that mean for the UAW? Will the collective bargaining agreements get restructured also?

 

[woodie1]

Yep, we will soon see Government Motors. Our worst nightmare. Talk about throwing good money after bad ...

 

[SparkyJJO]

They should have filed for Ch. 11 a long time ago in the first place, before the government got its filthy hands into everything.