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"Burning" $1B/month is not going to go away. September sales were terrible bot Octobers' will be WORST. GM is in serious straits and only BK will help them now. After that Ford and Chrysler will follow.
 

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If they did it, fatal damage would be done.

Besides, I doubt the federal government will let GM or Ford go out of business. One estimate I heard on GM is that there are 2 million jobs (both direct and indirect) related to GM alone.

Besides their problem is not product as much now as a credit crunch and a deep recession.

I think Gm will survive, Ford too (the Ford family has no intention of being wiped out).

Chyrsler I don't know about. They really need a merger with someone who does not have the same products. (The Gm one is beyond stupid).
 

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1) WTF?
2) GM did better than all the other automakers for September. Yes, sales were down, but everyone else did much worse than GM.
 

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"Burning" $1B/month is not going to go away. September sales were terrible bot Octobers' will be WORST. GM is in serious straits and only BK will help them now. After that Ford and Chrysler will follow.
BK is great. I love me a Whopper. If GM was seen walking into a Burger King, I'd stand and applaud.

Great post. Highly intelligent and incredible insight.
 

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1) WTF?
2) GM did better than all the other automakers for September. Yes, sales were down, but everyone else did much worse than GM.
thats what i was thinking.
 

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If they did it, fatal damage would be done.

Besides, I doubt the federal government will let GM or Ford go out of business. One estimate I heard on GM is that there are 2 million jobs (both direct and indirect) related to GM alone.

Besides their problem is not product as much now as a credit crunch and a deep recession.

I think Gm will survive, Ford too (the Ford family has no intention of being wiped out).

Chyrsler I don't know about. They really need a merger with someone who does not have the same products. (The Gm one is beyond stupid).
This is one of the most intelligent post since this doom and gloom thing went into high gear.
 

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1) WTF?
2) GM did better than all the other automakers for September. Yes, sales were down, but everyone else did much worse than GM.

I guess that you missed the part that those sales were all losers and a goodly number were part of a massive fleet dump. All it really did was clean out the stale old units remaining on dealer lots. What this does do is allow the dealers to be free of money-sucking lot anchors so that they can order new 2009 models.

BTW, when these sales are noted in the press they are NOT the actual sales of the manufacturers. They are the reported sales of the dealers. GM and the others shipped, billed and reported these units several months ago. These units hit GM's financial statements probably back in 2nd quarter.

It's a nuance most don't understand.
 

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All I can really chime in with is that even without a bankrupcy filing, the current situation is ALREADY hurting folks in those "2 million jobs (both direct and indirect)". My father works at a plant that produces exhaust system components, and the last time I spoke with my mother she said that the factory is letting go all it's temps and cutting back work to 3 day workweeks. He's very worried about a layoff soon. If people aren't buying cars, everyone suffers.

I never asked, but I wonder if the plant makes products for domestics only, or for all the companies? It'd make an interesting topic of discussion for those that argue that buying a US built Camry is as good as buying a US built Malibu..
 

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Folks, please remember that there is a difference between filing a bankruptcy petition and "going out of business". If GM were to file for bankruptcy, it would continue to do business. Delta Airlines and Northwest Airlines both filed for bankruptcy protection on the same day in 2005. Auto supplier Dana Corp. also has gone through bankruptcy.

When big companies declare bankruptcy, what happens is that all creditors are held at bay while the bond holders are forced to reduce what they will accept and unions are required to re-negotiate contracts. In exchange for their concessions, the current stockholders lose everything and the creditors get new stock.
 

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All I can really chime in with is that even without a bankrupcy filing, the current situation is ALREADY hurting folks in those "2 million jobs (both direct and indirect)". My father works at a plant that produces exhaust system components, and the last time I spoke with my mother she said that the factory is letting go all it's temps and cutting back work to 3 day workweeks. He's very worried about a layoff soon. If people aren't buying cars, everyone suffers.

I never asked, but I wonder if the plant makes products for domestics only, or for all the companies? It'd make an interesting topic of discussion for those that argue that buying a US built Camry is as good as buying a US built Malibu..


I'm out on the east coast in the DE, MD and PA area. I sell for a GM store and I have friends in both Toyota and Honda stores. They've both said their floor traffic is WAAAAY down to what's normal. So, it's not only domestic that's hurting....it's ALL THE CAR BUSINESS
 

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I love Burger King restaurants in New Zealand, they're all made to look like 50's diners with old advertisements for American cars from the 50's all the way up to the fuel crisis and a jukebox.

Would so go to a Holden dealer if they were like that.
 
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