Looking Grim for GM

GWguy

GWguy

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GM says there is 'substantial doubt' about its viability - Mar. 5, 2009

General Motors Corp. said in a government filing Thursday that its accounting firm has found there is "substantial doubt" about the automaker's ability to survive.
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The government must determine that GM has a "positive net present value" or else demand repayment of the loans within 30 days - a development that would almost certainly plunge the company into bankruptcy and quite possibly force it out of business.
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Well, any consideration i had for a new GM truck will be on hold now... :ohwell:
 
Wickedwrench

Wickedwrench

Stubborn and opinionated
Looks like the government is going to let the automakers sink or swim this time........which is what they should have done in the first place.
 
Tilted

Tilted

..
Wickedwrench said:
Looks like the government is going to let the automakers sink or swim this time........which is what they should have done in the first place.
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If we had let Chrysler sink 3 decades ago, then GM and Ford would likely be in much better fiscal health today. Let the market pick the winners (which, among these three, is clearly Ford - but you probably already know that).
 
GWguy

GWguy

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Tilted said:
If we had let Chrysler sink 3 decades ago, then GM and Ford would likely be in much better fiscal health today. Let the market pick the winners (which, among these three, is clearly Ford - but you probably already know that).
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:eyebrow:
 
GWguy

GWguy

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Tilted said:
I'm not necessarily talking about product quality, I'm talking about fiscal health and business viability.
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Hmmm... ok.. eyebrow rescinded....

but I'm watching you.....
 

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JoeMac

New Member
Eventually I think the market will determine the losers, but I think it will cost us a longer and deeper recession. As long as you are prepared, may the strongest survive.

This goes for all of those banks as well
 
aps45819

aps45819

24/7 Single Dad
Wickedwrench said:
Looks like the government is going to let the automakers sink or swim this time........which is what they should have done in the first place.
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Biden is currently in "private" meetings with union leaders at a luxury retreat in FL (it's OK, their bailout money is filtered thru the auto workers).

I expect that Obama/Biden will announce thier deal to completely take over GM. There will be some :bs: excuse but it will boil down to Obammy needing to keep money flowing to the UAW coffers so they can keep the money flowing to Obammy's re-election fund.
 
Wickedwrench

Wickedwrench

Stubborn and opinionated
Tilted said:
If we had let Chrysler sink 3 decades ago, then GM and Ford would likely be in much better fiscal health today. Let the market pick the winners (which, among these three, is clearly Ford - but you probably already know that).
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The 2010 lineup is looking good right now. If the product quality is as good as it has been trending for the last few years...........I'm going to need a new profession.:faint:
 
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