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Discussion Starter · #1 ·
FOX business channel was talking about how GM only has cash to operate for a year and that was it, they went on to say that bankruptcy is a good possibility, and would they get bailed out by the government? They also said if GM goes under so will the other two car makers.:eek: If this happens who would come back?, or would they? I cant believe we would be left no American cars to buy, that would really suck!
 

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That would suck! It's freaking sad to say the least.
 

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Companies in dire trouble have a tendency to bounce back even stronger than they were before their decline.
Just look at Kmart. Filed for Chapter 11 bankruptcy protection, later came back and bought out Sears and Roebuck's after only two years. They're currently the world's third largest discount store.
With GM's future product mix, they should be all right. But it all depends...these are hard times.
 

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You can't buy any american made bicycles,
You can't buy any american made motorcycles ( except for harley, and they almost went out of business, and now exist solely on there marketing)
You can't buy anything american made at walmart

So whats wrong with not being able to buy an american car?

People wonder how rome could fall as a civilization. Just wait another 100 years and America will fall too.
 

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You can't buy any american made bicycles,
You can't buy any american made motorcycles ( except for harley, and they almost went out of business, and now exist solely on there marketing)
You can't buy anything american made at walmart

So whats wrong with not being able to buy an american car?

People wonder how rome could fall as a civilization. Just wait another 100 years and America will fall too.
That a glum post. But it's kind of true...throughout history democracies tended to last about 200 years. Were past that mark now.
 

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Your first problem is that you are getting info from FOX news....

That being said, bankruptcy is a definite possibility but not a certainty. Chrysler is the closest to it, Ford next and then GM last. If one were to go, the other two would get a boost as some customers of the bankrupt company would go to the remaining solvent companies.

Be aware that bankruptcy does not mean the end of a company. Bankruptcy does suck, but it is possible to come back. A company like GM would be able to come back IMO.

As to a government bailout, I think it is not likely. Both sides of the aisle show contempt for our auto industry.
 

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That a glum post. But it's kind of true...throughout history democracies tended to last about 200 years. Were past that mark now.

Yeah, sorry about that. I guess thats what happens when all you read in the news is doom and gloom stories, one after another.

I hope I am wrong
 

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Bankruptcy could be good. Consider that GM pays more on a unit basis for retirees benefits than for steel. If GM goes into chapter 11 it can offload these legacy cost on the pension guarantee fund. It can dump its debt, renegotiate contracts and start fresh.
 

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You can't buy any american made bicycles,
You can't buy any american made motorcycles ( except for harley, and they almost went out of business, and now exist solely on there marketing)
You can't buy anything american made at walmart

So whats wrong with not being able to buy an american car?

People wonder how rome could fall as a civilization. Just wait another 100 years and America will fall too.
You can still buy Cannondales made in PA!:)
 

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They also said if GM goes under so will the other two car makers
Well, go under is a loose term, if GM files and drops all its union agreements, then all bets are off, a GM free from union obligations is much more competetive. The others would have no choice.

If this happens who would come back?, or would they? I cant believe we would be left no American cars to buy, that would really suck!

In the simplest terms...
Bankruptcy does not meant that they would stop making cars, it just means they cant pay their bills.

When airlines go bankrupt they still continue to fly.(Under Chapter 11)
 

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Sadly a large automaker bankruptcy might be just the swift kick to face that this country needs, but probably not, people will notice, and then they will just keep on going to Walmart and buying Chineese lead paint baby toys for their obese children with credit cards that they are already maxed out on all while wondering which skeletal coke whore is doing which brain dead actor and praying that there will be another Hogan reality show.

A goverment bail out might happen though, depends, the bailout would come before the BK though, at least thats what history proved during the Chrysler bail out of 1981.
 

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it would have an impact on 1/3 of all jobs within the US sending us into depression. So i don't think the government would allow this to happen.
 

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GM is in a world of hurt right now no doubt. I think its far worse than the early 90s period. If they go bankrupt, what happens to peoples warranties they have on their cars? When I get my next car I will have a GMPP warranty. If GM goes bankrupt and can't back up their warranty I just got screwed out of $2500.

Given the possibility of them dumping Pontiac, I'm really close to switching to Nissan anyhow. The only thing I would come back to GM for would be the Corvette and the Silverado.
 

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Discussion Starter · #19 ·
I really do not want to drive anything else but GM as my 07 Tahoe has turned me into a hard core GM fan.
 

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Discussion Starter · #20 ·
it would have an impact on 1/3 of all jobs within the US sending us into depression. So i don't think the government would allow this to happen.
I think you are right as that would be a huge hit to the economy.
 
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