General Motors Is Headed For Bankrupt...

General Motors Is Headed For Bankruptcy -- Again

There are 3 comments on the Forbes.com story from Aug 15, 2012, titled General Motors Is Headed For Bankruptcy -- Again. In it, Forbes.com reports that:

President Obama is proud of his bailout of General Motors. That's good, because, if he wins a second term, he is probably going to have to bail GM out again.

Join the discussion below, or Read more at Forbes.com.

Rob San Diego

San Diego, CA

#1 Aug 19, 2012
Hey you guys left out the most important part of the story. Why is GM going down the tubes? Obama allowed the union obligations to survive bankruptcy where secured bond holders were given 10 cent on the dollar. This effectively wiped out 200 years of bankruptcy law and doomed GM to a longer death spiral. GM was left with what got it into trouble financially in the first place. Lack of business experience is what I suspect on Obamas part and he lacked an understanding of the law.
GM should have reorganized, got out from under Unions grip and GM would have been a strong company going forward.
Rob San Diego

San Diego, CA

#2 Aug 19, 2012
Obama paid in full for those union votes. they just done know it yet but Obama just delayed offshoring their jobs
Pete

Grand Rapids, MI

#3 Sep 5, 2012
GM is once again flirting with bankruptcy despite massive government purchases propping up its sales figures. GM stock is rock-bottom.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Wagon Discussions

Title Updated Last By Comments
News 2018 Toyota Camry Production Begins In Kentucky Aug 9 yo 6
News 2018 Honda Odyssey Long-Term Test: Big H's New ... Jul 29 Jean-Luc Picard 1
News Surveillance photos released in home invasion case Jul 23 check it out 1
News 2017 Toyota Sienna, Tested in Depth: Today's Fa... Jul '17 Jeeper 1
News Fiat Chrysler Likely To Deepen And Extend Auton... Jun '17 Skntired 1
News 2017 Honda Odyssey vs. 2018 Honda Odyssey: Buy ... Jun '17 JAGUAR 3
News Trump says Germany is 'very bad' on trade May '17 ardith 1
More from around the web