GM to File Bankruptcy

Breaking news on CNN.com is that GM will file bankruptcy in the morning at 8AM....then get $30 Billion in new bailout funds from ObamaCo....then the US Gubment will have a 60% controlling interest in GM.

:cool: Wow...

[QUOTE=MrSplitshot;370208]Breaking news on CNN.com is that GM will file bankruptcy in the morning at 8AM....then get $30 Billion in new bailout funds from ObamaCo....then the US Gubment will have a 60% controlling interest in GM.

:cool: Wow...[/QUOTE]

Obomunism at it's BEST.............

We heard 5 months ago that they were too big to fail.....WHAT he really meant was.......Lets figure out how to PROTECT my voting block with the unions, and THEN let the **** thing go bankrupt.

WHY in the HELL did we give them 30 billion and then another 30 billion. Sure, the gubment now has a BIG stake in GM, but hell.........GM is WORTHLESS.

WE will never get our **** money back........

Later,

Geo

I heard on NBC news last night that the US Government will control 70 percent of GM and the United Auto Workers just got a 20 percent share in exchange for the concessions they made. Now those are two organizations that are known for their efficientcy, expertese, thrift, fore-sight, etc. etc. NOT!!

Grumpy

Slowly but surely we are getting the big one. Gubment controlling banks and auto manufactures. Tsk tsk....should have let them fail. Bleeding heart gubment bafoons who cannot run their own tasks at hand are gonna help us with one arm on our shoulder and the other in our pocket. Time to smell the coffee people....

The government shouldn't have given them a dime to begin with. How can they justify what they did when they go bankrupt a few months later???

I'm getting madder and madder at our pathetic government and the way it steals our money (taxes) and uses it completely irresponsibly.

[QUOTE=know1;370248]The government shouldn't have given them a dime to begin with. How can they justify what they did when they go bankrupt a few months later???

I'm getting madder and madder at our pathetic government and the way it steals our money (taxes) and uses it completely irresponsibly.[/QUOTE]

Amen, Michael, Amen!

[QUOTE=know1;370248]The government shouldn't have given them a dime to begin with. How can they justify what they did when they go bankrupt a few months later???

I'm getting madder and madder at our pathetic government and the way it steals our money (taxes) and uses it completely irresponsibly.[/QUOTE]

yep, i agree!!


now does this mean they dont have to pay the original 30 billion back?? is it included in their bankruptcy??

a true load of BS

I want to make clear that my issue hear is with the government and not GM.

What bank would loan money to an entity that was going to file for bankrupcty within 4 months? The answer is NONE of them...and that's saying something because our banks are almost as bad as our government.

[QUOTE=BASSKING;370260]yep, i agree!!


now does this mean they dont have to pay the original 30 billion back?? is it included in their bankruptcy??

a true load of BS[/QUOTE]

I would be wiiling to bet we don't get ANY money back. That's why the system should have been left alone!!! If you can't manage you bidness get out and do something else. So now we are going to lose billions and who knows how many jobs and who knows how many more unemployed people are going to be going after benefits. What's next another Stimulus Bill to boost the unemployment packages?

Everyone talks about how instead of General Motors being General Motors it will now be Government Motors, etc. The more I've been thinking about this it seems to me that over the years you could either work for the Government or work for U.A.W. and it would be about the same either way...Government workers seem to be over compensated for the work they put out, likewise for U.A.W. members...and it also seems to me that I've been supporting the government workers by paying taxes as required and I've also supported the over compensated U.A.W. members because all I've ever owned are Ford's and Chevy's.

Maybe what I've just wrote above doesn't belong on this thread...it's just my two cents worth. Just because someone works for the government/U.A.W. this entitles them to a nice benefits package and retirement plan? B.S. is what I say.

[QUOTE=Chubminnow;370275]Everyone talks about how instead of General Motors being General Motors it will now be Government Motors, etc. The more I've been thinking about this it seems to me that over the years you could either work for the Government or work for U.A.W. and it would be about the same either way...Government workers seem to be over compensated for the work they put out, likewise for U.A.W. members...and it also seems to me that I've been supporting the government workers by paying taxes as required and I've also supported the over compensated U.A.W. members because all I've ever owned are Ford's and Chevy's.

Maybe what I've just wrote above doesn't belong on this thread...it's just my two cents worth. Just because someone works for the government/U.A.W. this entitles them to a nice benefits package and retirement plan? B.S. is what I say.[/QUOTE]

LOL! I love that point.

I'm a flag waving American, but jeez...this stuff is just wrong.

The Bowtie is bankrupt. I've never been a big Chevy fan, but still...there isn't too much more "American" than Chevrolet. It's kind of a sad day. :(

What next's? Apple Pie and Major League Baseball?