It's Official: GM Files in One Hour

**erikzola** · 06-01-2009, 03:04 AM

Looks like we will all be share holders of GM when the filing is complete. Government will hold a 60% stake in the company. Should be an interesting few weeks......

**0rion** · 06-01-2009, 03:13 AM

we're now China.......

**bmyers** · 06-01-2009, 03:25 AM

sad but true the only difference is we dont build toys for nothing

**JerseyLS1** · 06-01-2009, 03:33 AM

how is the government aloud to get involved like that in capitalist ventures?? Isn't that conflict of interest?

**ls1camino** · 06-01-2009, 04:14 AM

Originally Posted by JerseyLS1

how is the government aloud to get involved like that in capitalist ventures?? Isn't that conflict of interest?

If it is in the best interest of sizable portion of the county (government included), then the government is allowed to get involved to save the company.

**0rion** · 06-01-2009, 04:34 AM

Originally Posted by ls1camino

If it is in the best interest of sizable portion of the county (government included), then the government is allowed to get involved to save the company.

tell that to the electonics industry......that's where we're heading folks. I remember when TV's used to be american made. Auto's are following suit.

**Smkn_TA** · 06-01-2009, 04:59 AM

So we are in the pre-last moments of GM.

**JerseyLS1** · 06-01-2009, 05:16 AM

hasn't daimler chrysler filed bankruptcy before and they are still around .. i don't forsee GM going anywhere, just doing a major restructure and getting their shit straight.

**ibanez7** · 06-01-2009, 05:58 AM

Originally Posted by erikzola

Looks like we will all be share holders of GM when the filing is complete. Government will hold a 60% stake in the company. Should be an interesting few weeks......

if only that was true. yes, the taxpayer should own 60% of GM, however you know the government will do what they want with that 60% without the word of the taxpayer

**SleeperC5** · 06-01-2009, 06:44 AM

Did you se how many of the plants are closing !! 12 plants with I believe 2 on stand-by status.

Wow.... never thought I'd see the day.

**ibanez7** · 06-01-2009, 06:52 AM

Originally Posted by SleeperC5

Did you se how many of the plants are closing !!

Wow.... never thought I'd see the day.

what I find amazing is all of these people (including union workers) that Voted for Obama because of CHANGE. he promised more jobs during his administration, yet his administration is leading the GM bankruptcy filing with strict rules including letting go of 21,000 people from work.. lets see how he creates new jobs for these people

Becarefull what you wish for....

**third_shift|studios** · 06-01-2009, 07:14 AM

Originally Posted by ibanez7

what I find amazing is all of these people (including union workers) that Voted for Obama because of CHANGE. he promised more jobs during his administration, yet his administration is leading the GM bankruptcy filing with strict rules including letting go of 21,000 people from work.. lets see how he creates new jobs for these people

Becarefull what you wish for....

eh, you can't blame the president b/c a century old company fucked up

**Y2KPewterSS** · 06-01-2009, 07:29 AM

GM=Government Managed

**SleeperC5** · 06-01-2009, 07:48 AM

Originally Posted by third_shift|studios

eh, you can't blame the president b/c a century old company fucked up

Originally Posted by Y2KPewterSS

GM=Government Managed

Maybe it's time to look at the 2011 Mustang with the "Coyote" 400 HP motor.....

NOT ! or maybe.....

**ibanez7** · 06-01-2009, 08:07 AM

Originally Posted by third_shift|studios

eh, you can't blame the president b/c a century old company fucked up

exactly.... which is why the government should not be involved with this.
since GM received its so called bailout money from the government, the obama administration can be blamed for anything and everything.

**JoshieDoom** · 06-01-2009, 10:15 AM

It will be an interesting few months watching GM... i wonder if g8s will drop bellow 10k???

**310stanger** · 06-01-2009, 10:20 AM

Originally Posted by ibanez7

exactly.... which is why the government should not be involved with this.
since GM received its so called bailout money from the government, the obama administration can be blamed for anything and everything.

what would be the solution had the government not gotten involved? GM got bailout money and needed even more, they couldnt stay afloat and are voluntarily filing for bankruptcy. How exactly is this Obamas fault?

The way some of you guys word things its like GM only started doing poorly in the last month or two.

**third_shift|studios** · 06-01-2009, 10:21 AM

Originally Posted by JoshieDoom

It will be an interesting few months watching GM... i wonder if g8s will drop bellow 10k???

do you honestly think they're gonna pay back 60billion by selling a $30k car for $10k? they are not going to budge on prices

**310stanger** · 06-01-2009, 10:23 AM

Originally Posted by third_shift|studios

do you honestly think they're gonna pay back 60billion by selling a $30k car for $10k? they are not going to budge on prices

yeah especially when the new camaro is getitng sold with a markup. The dealers arent gonna just take it on the chin if people will pay a certain price. 10k g8? Yeah maybe in 10 yrs lol