globi

http://latimesblogs.latimes.com/mone...all-stree.html

What if GM goes belly up?

JRichter

Well, Red Lobster does have good butter biscuits...

REsuperD

what if gm goes belly up? they'll get some kind of government or private rescue. pontiac is probably hopeless, maybe buick too. other than that, the chevrolet and cadillac brands are probably worth salvaging; they've started to sell a few decent products recently. i hope hummer gets flushed down the toilet. saab i hope someone picks up, 'cuz i used to have an old saab and once you had an old saab, you're a saab man forever

in the end, i hope they really finally learn their lessons. they're among the oldest car makers but they've let themselves fallen way too much behind in the last 30 years

and it's not JUST red lobster. it's also olive garden, which is awesome

gunslngr21

I think it is worth noting that GM's assets total more than 60 bil.

http://finance.yahoo.com/q/bs?s=GM&annual

BaronVonBigmeat

They need to go bankrupt so they can break union contracts and pension obligations. They aren't really a car company so much as a health care company. But workers facing more realistic wages/pensions are also voters, so that won't be allowed to happen.

ZoomZoomH

iTrader: (1)

mmm lobsters, nom nom nom

ninco

I personally do not think that a company like GM should be helped with any assistance from the government. HOWEVER, I do understand why it needs to be done.

It's like BaronvonBigmeat says, GM is not a car company. They provide healthcare and pay outrageous union wages to SOOO many people, that allowing the Big 3 to go under would place this country into severe meltdown. More so, than it already is. Think about it?
What incentive is there for GM to make better products if they can keep going to the government for a bailout and use the excuse, "We would have to cut retirements and/or healthcare for our employees"?

I recently turned 40 and when I reach retirement (maybe 65, maybe 75) age, I truly believe that the government will no longer have programs, like Social Security and/or Medicare for my age group. YET, I am still required to pay into these programs, via taxes.

Other than Cadillac and Chevrolet, GM really needs to consider letting the other brands go. As for as Ford, other than the Mazda brand, you could not even PAY me to own a Ford vehicle in this day and age. Save for the MKz and/or Milan (maybe) they offer NOTHING else...

Mech_head

Bingo! The Big three need to go into prepackaged bankruptcy so they can tell the UAW to shove it. The guys running the big three made some of the dumbist decisions when they caved to UAW demands years and years ago and basically mortgaged the future of the company because it was convenient and popular at the time.

If we are lucky the UAW will break entirely and we will never have to see the ugly specter of a unionized American auto industry.

nycgps

iTrader: (1)

Thats why I always hate Union. Sure they're good for what it is UNTIL they turned greedy and wanna get a piece of everything.

Yeah they always say that without the workers, those owners would never be able to make their profit. My ***. without those "Smart" owners, you dumb asses would be eating **** at home all day to talk about labor rights.

I hope GM goes under. So they can fired most of the useless people and FUXK Union and re-hire some cheaper labor. I mean some people who works there to put bumpers on can probably get like 25 or more bucks an hour. come on. I mean even dumbasses can do that kind of job for less.

Pontiac should just die.

Ford oh yes sell Mazda's share back to the japanese and just die. I would say Bill Ford totally fuxked it up couple years ago. Too late to change it now.

Hummer? I just can't believe anybody actually brought their car (notice, CAR, not CARS) that looks like ****, use gas like ****, and weak like ****. (the street one, not the one on war field) This company deserves to die.

SAAB no idea. never had any exp with them.

globi

What I find a little surprising is the fact, that many banks were helped around the world almost without questions asked.
Actually, a big Swiss bank just got a $50 billion package by the Swiss National Bank and a week later that same bank announced that it's going to pay $7 billion in bonuses?! (It reminded me of the AIG guys going on some expensive Spa-trip after their bailout).

I find it odd, that banks losing money, despite not investing in expensive R&D, tooling and factories, can easily get a bailout and if a company is an expert in vehicle engineering, design and production they're supposed to be on their own.
Keep in mind, it's comparitively easy to pop up service companies from scratch, but nobody will pop up a large vehicle industry from scratch.
If GM would go belly up, it's gone and won't be replaced by some new, innovative American start up.

I don't want to sound nostalgic, but it is these industries that mainly brought the civilized world ahead. I don't remember banks inventing electricity, vehicles, aircrafts, computers or freeing the world from the ***** and I don't see why and how particular failure-banks may help us getting any further.