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Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

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  • Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

    http://www.bangshift.com/blog/Friday...ankruptcy.html

  • #2
    Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

    If they file Chapter 11, they may get out from under the UAW, finally. They also believe that no one will buy a car from a company that is under Chapter 11. I'm thinking that they did some polling on that question and maybe see it a little more optimistic than before.
    BS'er formally known as Rebeldryver

    Resident Instigator

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    • #3
      Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

      I would rather buy a car from GM in chapter 11 VS the sinking ship there on now JMO

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      • #4
        Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

        Originally posted by jerrys96lt4
        I would rather buy a car from GM in chapter 11 VS the sinking ship there on now JMO
        yup.
        and the american people have seen other companies go through chept 11
        and are still around..
        I think , the fear of it going belly up..
        is whats stop'n buyers..

        so ditto

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        • #5
          Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

          No one wants to see someone go bankrupt...but if that's what it'll take in order to save GM, then by all means...

          I'll go out on the thin limb and say without hesitation that I'll still buy GM products.....always will.

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          • #6
            Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

            Ditto only if they were to file chapter 11. The Bailout? isnt working. I want a new vette but not until they stop sinking
            .

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            • #7
              Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

              farewell old friend
              if they chapter 11 and try to dump the unions - the management will get sent to jail
              union is not going anywhere

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              • #8
                Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                Originally posted by Beagle
                Braniff...
                Lets hope not. My worry - even as a Ford guy - is that if we lose GM, you could drive a bus through the US auto industry and not hit anything. Except maybe unemployed people with kids to feed and payments to make.

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                • #9
                  Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                  Originally posted by Rebeldryver
                  If they file Chapter 11, they may get out from under the UAW, finally. They also believe that no one will buy a car from a company that is under Chapter 11. I'm thinking that they did some polling on that question and maybe see it a little more optimistic than before.
                  I would still buy a GM vehicle if they went into bankruptcy. A bankruptcy judge will save GM from lousy management, dealer obligations and unrealistic legacy/union costs.

                  I flew on Delta Airlines when they were in bankruptcy without fear that the wings would fall off the plane.

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                  • #10
                    Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                    I want GM to stay solvent and make cars. However that happens. I can't believe they didn't do the chapter 11 a yr ago. Wish they had - then we wouldn't have had to pay out for thier unsustainable business practices- -ie: 'legacy costs'. I feel really bad for all the GM employees who stayed with the company for decades thinking they would be set for retirement, with health care and good income.......not gonna happen. I would be stunned if GM closed its doors totally.
                    Mike in Southwest Ohio

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                    • #11
                      Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                      All of this scares me shitless.My dad just retired from gm in july of 08' after 41 years of service and he could end up living on my couch! God I hope they get their stuff together.
                      Coming at you live from the birthplace of GM,Flint,Mi. Where your car is worth more than the property it's parked on.

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                      • #12
                        Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                        maybe instead of asking the workers to give up stuff.
                        they should ask the worker AND retired..
                        you think the retired will say o.k. untill you get back on your feet, we'll take a cut, in our checks..
                        if it'll save our retirement.. ??????
                        bet they all say no,way..

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                        • #13
                          Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                          Originally posted by Rebeldryver
                          If they file Chapter 11, they may get out from under the UAW, finally. They also believe that no one will buy a car from a company that is under Chapter 11. I'm thinking that they did some polling on that question and maybe see it a little more optimistic than before.
                          Definitely agree. I think they'll have a hard time trying to stay competitive in the industry without restructuring.

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                          • #14
                            Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                            GM was opposed to a bankruptcy filing last year because the thought was that it would scare off too many potential customers. The customers have responded by saying that they?re scared shitless anyway as sales continue to plummet by massive amounts month after month.
                            I always thought their refusal to consider Chapter 11 last year was downright idiotic. They were trying to convince the government they'd go belly up without a bailout while thinking that if they declared bankruptcy customers would be convinced they were in danger of not surviving. It was painfully obvious that would work about as well as Saddam trying to convince the UN he'd scrapped all his nukes while trying to give his neighbors hints that he had them. As far as I'm concerned, Chapter 11 is a sign that someone in their management finally gets it and more likely for me to believe they'll be around for some time.

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                            • #15
                              Re: Friday Excuse to Go Home Early and Drink: GM Considering Bankruptcy

                              Originally posted by Matt Cramer
                              GM was opposed to a bankruptcy filing last year because the thought was that it would scare off too many potential customers. The customers have responded by saying that they?re scared shitless anyway as sales continue to plummet by massive amounts month after month.
                              I always thought their refusal to consider Chapter 11 last year was downright idiotic. They were trying to convince the government they'd go belly up without a bailout while thinking that if they declared bankruptcy customers would be convinced they were in danger of not surviving. It was painfully obvious that would work about as well as Saddam trying to convince the UN he'd scrapped all his nukes while trying to give his neighbors hints that he had them. As far as I'm concerned, Chapter 11 is a sign that someone in their management finally gets it and more likely for me to believe they'll be around for some time.

                              I don't get it..
                              wallstreet f's over everyones retirement accounts..
                              some stealing billions..
                              and thats bad..
                              g.m. try'n it's damest not to file chapt 11 .
                              to save the retired workers retirement..
                              is stupid, and "management finally get it"

                              g.m. is in the same boat as the govenment (i.e. us)
                              they have to much retirement baggage..
                              and we do to.. with S.s. for the retired..
                              only difference is, the govenment can keep going farther into the red..
                              and no one questions it.. or fixes it..
                              if you think g.m. got retire pension issues..
                              look at your town/state/fed. governments..

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