AP sources: General Motors to file bankruptcy - Yahoo! News
economy:argg:
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GM=Goverment Motors, kiss the fun vehicles goodbye
Going to be interesting to see how this plays out down the road. Cant say I am optimistic at all. Articles from Friday indicated the common shares would be wiped out completely (worthless), bondholders get pennies on the dollar, and the government ends up with a 70% stake and the UAW around 17%. Its an endless debate as far as who/what is to blame. Real shame though.
Quote:
Originally Posted by STUNNA
UAW :argg: :argg: :argg:
Its not unprofitable to make cars in US.
Just in northern dominated UAW states.
the american auto industry was never in danger till americans started to buy foreign cars. i dont care if they are built here. they are still taking money away from the fonders of american industry.
if you buy american the money stays in america, if you buy foreign even tho its built here money goes elsewhere. I blame it on society and not the industry
what happens to the warranty on vehicles?
some things will be honored just as any other application that has occured like this. Also they still have to make parts for vehicles for a few more years.Quote:
Originally Posted by STUNNA
EXACTLY! could not have said it better myself.Quote:
Originally Posted by Quik
Unions and union mentality are the cause for most financial problems in this country.
x100... this is actually the best thing that GM could do right now. Get rid of the overpaid unions and start from scratch.Quote:
Originally Posted by GasGuzzler