Experts weigh in on GM bankruptcy talk

It would be the granddaddy of all bankruptcies. One, if not the largest, to hit a U.S. court docket. Read more
JNH

United States

#1 Apr 13, 2009
Probably some CROOKED politician named OBAMA telling GM to file for bankruptcy. What better way for the government to gain control of the automaker and spread more of its socialist agenda...
hangingr

Grand Rapids, MI

#2 Apr 14, 2009
and so they fall

Since: Oct 08

Grand Rapids, MI

#3 Apr 14, 2009
Chain rattling to get GM, UAW and debtors moving on resolving their issues.
Michael in Greenville

Grand Rapids, MI

#4 Apr 14, 2009
JNH wrote:
Probably some CROOKED politician named OBAMA telling GM to file for bankruptcy. What better way for the government to gain control of the automaker and spread more of its socialist agenda...
I can only hope that a socialist agenda is in the works. We have tried the other approach now for fifty or more years and you see where that got us. Now it is time for action! However, the ones you hear that are cyring foul are probably the ones with the most to lose.
Louie_Louie

Pleasanton, CA

#5 Apr 14, 2009
It's about time, they should have filed for bankruptcy before they took US tax payer money.

Since: Jan 09

Hersey, Michigan

#6 Apr 14, 2009
Michael in Greenville wrote:
<quoted text>
I can only hope that a socialist agenda is in the works. We have tried the other approach now for fifty or more years and you see where that got us. Now it is time for action! However, the ones you hear that are cyring foul are probably the ones with the most to lose.
First of all, we've been around for over 230 years and, I think, done fairly well as a nation considering that places such as Africa and most of South America are still running around with spears and loin cloths. Name one Socialist regime that has been successful for 50 years? I'll answer my question for you...there aren't any. Take a look at Eastern Europe, the former poster children of socialism. Is that what you want for us? How about Western Europe which is about the size of Texas and has no middle class...go there, they will welcome you with open arms, I'm sure.

Since: Jan 09

Hersey, Michigan

#7 Apr 14, 2009
It only makes sense for GM to restructure at this time. They will divest themselves of Saturn and Hummer, eliminate marginal dealerships and They will weaken the iron grip of the unions and they will consolidate other operations. I also heard a rumor that Pontiac division may go away with only certain Pontiac platforms transitioned into the Buick line leaving them with Chevrolet, Buick and Cadillac. It seems a little more logical to only have a entry level, mid level and high end line.

Since: Nov 07

Caledonia, MI

#8 Apr 14, 2009
More Doom and Gloom tactics trying to scare people. Over 70% of the American people do not want anymore taxpayers money wasted on these companies no matter what the cost ! Wake up and smell the roses! Get this Bankruptcy over with so we can MOVE ON !
Steve

Edmore, MI

#9 Apr 14, 2009
great, now I bet they will not have to pay back the millions they took from us tax payers with a loan.

“Don't touch my junk man!”

Since: Nov 07

Middle of the Mitten, Michigan

#10 Apr 14, 2009
Steve wrote:
great, now I bet they will not have to pay back the millions they took from us tax payers with a loan.
Not necessarily, from what I gather that money will be swapped over into shares in the company. So in all actuality it will end up being similar to the bank bailout, as long as they do well going forward we should see some of that money come back. Or at least that's how I understood it.

That doesn't necessarily mean I support it by any means, but at least that's what I had heard.
Juggalotus

Mason, OH

#11 Apr 14, 2009
Its funny, the professional investors wouldn't touch these companies (GM, Chrysler, AIG, numerous banks) with a 10 foot pole. So our government thought they made good investments. And we're suprised when the companies go bankrupt anyway?
And on top of that, people still expect social security to still be around in 20 years? This is what you get when the government is allowed to "invest" in anything.

“DISALLUSIONED!”

Since: Jan 09

Scotts

#12 Apr 14, 2009
Oh, how I do love the experts! Seems to me that some of these companies that listened to their "experts" are now in financial hotwater.
I don't think most of Americans will come away learning anything from what's happening in our world today. Job loss and the economic crisis is going to be with us for a long time, and I see people out there spending money like there IS no problem. Even if I was not unemployed right now, there is no way I would be out buying a house or a car. Especially in Michigan. I would rather save $$. Vehicle and home prices may be lower now, but I bet in 5 yrs we will see them go way up again.
Use to be "The American Dream", now it's "The American Greed".
videovamp

Plainwell, MI

#13 Apr 14, 2009
This is nothing but a tragedy in the making. G.M. is making money overseas and trying to split the company up to avoid paying the very people in this country who made them millionaires. Corporate greed is destroying this world. Soon no person will be able to afford a home,car, or take a vacation.
Questioning

United States

#14 Apr 14, 2009
I watch the news and see anylyst and expert.

Where were these guys before?

If your an expert, Why didn't you put together a plan for GM?

Simple answer is that we need to buy cars!! But we cannot afford them.

No more trade to Mexico, or Canada keep it here, and I don't mean union jobs, I mean people who want to work and make a living.

The government should have stayed out of this from the beginning and the finacial experts and accountants new this was coming. We all know that our 401Ks grew at rates to good to be true. People in charge need to look at what to do to save jobs and create the product we expect as consumers. Not to line the pockets of investors. If we do that we will make this work.
alleycat

United States

#15 Apr 14, 2009
Sounds like a well planned game of chicken to me.

Let em file bankruptcy. They earned it. Why should I a taxpayer bail the bums out. I wouldn't even buy one of their shoddy built cars for heavens sake.

They have taken the american people for years. Laughing behind their backs about how stupid and gullible the buyers are, well now its time to pay the piper.

Death to GM in 2009

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