GM auditors raise the specter of Chapter 11

jmar
Profile picture for user jmar
Posts
14154
Joined
2/11/2007
Location
Oklahoma City, OK, USA
jmar
Edited Date/Time 1/10/2012 1:34am
13 Billion already down the drain and it wouldn't suprise me if we give them more. There is no other way out they are going to have to file and we are wasting every penny we give them.

http://news.yahoo.com/s/ap/20090305/ap_on_bi_ge/gm_annual_report
|
flarider
Profile picture for user flarider
Posts
25496
Joined
4/1/2008
Location
Daytona Beach, FL, USA
flarider 3/5/2009 7:07am
3/5/2009 7:07am
Damn that Obama!
jmar
Profile picture for user jmar
Posts
14154
Joined
2/11/2007
Location
Oklahoma City, OK, USA
jmar 3/5/2009 7:08am
3/5/2009 7:08am
It wasn't Obama that already gave GM already gave GM close to 20 bill
flarider
Profile picture for user flarider
Posts
25496
Joined
4/1/2008
Location
Daytona Beach, FL, USA
flarider 3/5/2009 7:20am
3/5/2009 7:20am
Since when has that made any difference?
jmar
Profile picture for user jmar
Posts
14154
Joined
2/11/2007
Location
Oklahoma City, OK, USA
jmar 3/5/2009 7:32am
3/5/2009 7:32am
flarider wrote:
Since when has that made any difference?
Yea, I know what your saying.

The Shop

See All »
Ivan
Profile picture for user Ivan
Posts
792
Joined
4/1/2008
Location
Long Beach, CA, USA
Ivan 3/5/2009 7:34am
3/5/2009 7:34am
It will be interesting to see what BO does with this. If they go BK, the first thing the judge will do is punt the union. There's two problems with that. One is political in that the unions are huge Dem supporters. If they let them go it will be a huge dis. The other one is that the government will have to pick up the cost of the pensions for all those workers. Including the ones already retired. Big bucks. In my view, Chapter 11 is overall, the best way out. The world is watching.
MXMatt
Profile picture for user MXMatt
Posts
553
Joined
10/18/2006
Location
Gilbert, AZ, USA
MXMatt 3/5/2009 7:38am
3/5/2009 7:38am
Well, this sucks for me. I own to GM vehicles. Let'm fold or become more fiscally responsible. Tax and regulate them less and get rid of the union.

Let's see if the Bush-Obama Big Spending Programs can end. This would be Obama's opportunity to prove that he is different. Bush gave GM a wheel barrow full of pointless money. Let's see if Obama's response is just more of the same only on a larger scale.

Let's all hope not.
Ivan
Profile picture for user Ivan
Posts
792
Joined
4/1/2008
Location
Long Beach, CA, USA
Ivan 3/5/2009 7:43am
3/5/2009 7:43am
MXMatt wrote:
Well, this sucks for me. I own to GM vehicles. Let'm fold or become more fiscally responsible. Tax and regulate them less and get rid of...
Well, this sucks for me. I own to GM vehicles. Let'm fold or become more fiscally responsible. Tax and regulate them less and get rid of the union.

Let's see if the Bush-Obama Big Spending Programs can end. This would be Obama's opportunity to prove that he is different. Bush gave GM a wheel barrow full of pointless money. Let's see if Obama's response is just more of the same only on a larger scale.

Let's all hope not.
Chapter 11 does not mean they fold. Lots of companies come back from 11. It's mainly debt restructuring and new operating rules.
MXMatt
Profile picture for user MXMatt
Posts
553
Joined
10/18/2006
Location
Gilbert, AZ, USA
MXMatt 3/5/2009 7:51am
3/5/2009 7:51am
At least with Chapter 11, the responsibility to recover mainly lies with the company. No more Bush-Obama Bailouts.
jmar
Profile picture for user jmar
Posts
14154
Joined
2/11/2007
Location
Oklahoma City, OK, USA
jmar 3/5/2009 8:03am
3/5/2009 8:03am
MXMatt wrote:
Well, this sucks for me. I own to GM vehicles. Let'm fold or become more fiscally responsible. Tax and regulate them less and get rid of...
Well, this sucks for me. I own to GM vehicles. Let'm fold or become more fiscally responsible. Tax and regulate them less and get rid of the union.

Let's see if the Bush-Obama Big Spending Programs can end. This would be Obama's opportunity to prove that he is different. Bush gave GM a wheel barrow full of pointless money. Let's see if Obama's response is just more of the same only on a larger scale.

Let's all hope not.
Anything given to GM is pointless money.

BTW: I own a Saab and it hasn't stopped running because of their problems.
fcr
Profile picture for user fcr
Posts
9348
Joined
12/1/2006
Location
Monkeys Eyebrow, YE
fcr 3/5/2009 8:07am
3/5/2009 8:07am
I am about ready to buy a new truck. They are hounding me since I went looking.

Post a reply to: GM auditors raise the specter of Chapter 11