General Motors filing for bankruptcy Monday morning

[SirChubalots]

Obama is a reject, since this is supposedly the land of the free they should be free enough to leave other companies alone and let them learn from there mistakes. I like GM products but it's them that caused their own downfall now let them play in the mud.

and the jobs and supporting industries?

[TheVanillaGorilla]

lulz not crying bout reps but my Obama comment has got me a 30 point rep drop. haha Damn hippes

[803988294]

All i know is back in the day my dad switched from American cars to Japanese cars because they were cheaper. About 10 years ago he was in the market for a new car again and one of his good mechanic friends convinced him that American cars have made a turn around so he went out and got a new saturn. He always goes all out with taking care of all his cars, changing the oil every 3k and so on. Two years in and 65k later the engine cracks in half. He's got a tacoma now with 250k and no problems.

My first car was a saturn just like the one he had and I got 220k out of it with no problems and ended up selling it. So I guess it's hit and miss, but my dad's been burnt and I don't think he's ever coming back.

[TheVanillaGorilla]

I was at a GM dealership and left cause sales sucked a people were scared about the BK back in december so this isnt news. I am now at a Nissan Dealership and biz is OK.


Commision is down you cant believe how much money could be made in the old days I have have a couple grand on just one car that took a hour to sell and have the commision vouchers to prove it now I would save if I make 500 bucks on a car I am a happy ****er avg com went from 5-600 to 2-300 now.

[bawka]

Yeah it's ****ed up. The government is nationalization a company, that is straight communism. And it's going on so blatantly.

wow fall for the propoganda much? were rockin' a mixed market up here in canada while living the same lifestyle as you guys, also enjoying the universal healthcare.

[loki2012]

crazy stuff

[Capt-MoonLight]

Who killed the electric car? GM did, maybe thats why they are being killed off now?

[sHaDyOneDeath]

Just a way Obama can run GM and the USA.


Thnk you Mr. Obama I didnt want to keep my money anyway.

Listen, ill ignore the fact your from Oklahoma but...How is Obama to blame for the economy? He was elected into office WITH a economic criss already at hand, thanks to bush administration.


*******. always looking to point the finger, dont ya?

[Viking22]

Listen, ill ignore the fact your from Oklahoma but...How is Obama to blame for the economy? He was elected into office WITH a economic criss already at hand, thanks to bush administration.


*******. always looking to point the finger, dont ya?

Ironic post is ironic.

[TheVanillaGorilla]

Just a way Obama can run GM and the USA.


Thnk you Mr. Obama I didnt want to keep my money anyway.

HAHA gov now owns 60% of GM sure sounds like my post was right but thnx for the negs.

[INGENIOSO]

****s going down

[HC]

I am at GM headquarters today..
mood is very somber here.

[ctbeis]

I am at GM headquarters today..
mood is very somber here.

I am an engineer at a Tier 1 Supplier in Michigan and the mood is also somber. We laid off about 2/3 of work force last Friday in anticipation of today's filing. I live near a lot of GM plants and this entire area is fukked

I have three words for everyone bashing GM...

TRICKLE DOWN EFFECT

[rea99]

I am an engineer at a Tier 1 Supplier in Michigan and the mood is also somber. We laid off about 2/3 of work force last Friday in anticipation of today's filing. I live near a lot of GM plants and this entire area is fukked

I have three words for everyone bashing GM...

TRICKLE DOWN EFFECT

Trickle down effect is a myth just ask any liberal/democrat.

[Random.Human]

My God, just look what we are seeing in our lifetimes. It is truly sobering to watch it all happen in front of our stupid faces.

And to think there are such fools on this forum as to actually laugh at these tragedies and claim that our companies deserve this.

Dont you see what this is doing to our cities? Look at the once revolutionary Motor City and how it has been brought to its knees. These are our people and our economy that are suffering here.


There is hope however: It is only now, at the brink of collapse, that GM is able to renegotiate their Union agreements and trim rampant costs. At the height of stupidity, GM was spending more money on healthcare than the cost of steel put into a 1 Ton dually truck. GM was spending ~$3000 per car ABOVE THE JAPANESE on benefits for union workers.

The big 3 did not keep their focus on the product, which corrupted their edge, but the inflated labor costs are what finally destroyed them. Now that chapter 11 is in effect, the negotiations are allowing the companies to put UAW wage scales in parity with the foreign manufacturers, and reduce the heavy health care commitments.



And BTW, the overall quality on all NEW PLATFORMS from Ford and GM are outpacing the competition. Never in big 3 history have they been able to boast the current level of new owner satisfaction and overall quality.

[HC]

I am an engineer at a Tier 1 Supplier in Michigan and the mood is also somber. We laid off about 2/3 of work force last Friday in anticipation of today's filing. I live near a lot of GM plants and this entire area is fukked

I have three words for everyone bashing GM...

TRICKLE DOWN EFFECT

I am a sales engineer for a supplier....we are having our own woes too...

Michigan is such a beautiful state and detroit holds much herritage...all this will hurt us even more. I wish like hell there was a way or industry or something to turn all this around.

[ctbeis]

I am a sales engineer for a supplier....we are having our own woes too...

Michigan is such a beautiful state and detroit holds much herritage...all this will hurt us even more. I wish like hell there was a way or industry or something to turn all this around.

I am listening to Fritz Henderson right streaming on Fox News...

Best of luck to you, your family, and your company...hopefully this is just a bump in the road.

[Lost_it_to_a_9]

I'm rushing the bank and pulling my 401k tomorrow. I've already lost enough to make me wanna punch babies, I don't need to lose anymore kthxbai.

lol like i said earlier in the thread, everyone knew this would happen... so i didn't get why people like this had strong over-reactions yesterday like the world was coming to an end and the stock market was going to crash...

if the market would have crashed it would have happened last week, when GM said they would do it... it was only official today...

LOL @ everyone blaming obama also... for **** that he inherited and is trying to fix... yes GM is going to be basically owned by the government now, but the government is the only institution that has the patience to wait till GM becomes succesful again because the company is too valuable to america (in more ways than just money)...

[MediaDeit]

http://money.cnn.com/2009/05/31/news...ooms/index.htm

this will not end well. In b4 collapse of the US economy

They should of Filed for Banruptcy before taking 30 billion fro mteh Tax payers who will get nothing back. Then they could of voided the UAW contracts and prospered. Instead with Obama, GM will now be controlled by the government and by the UAW....Great


ten years down the road we will truly see how much Obama ****ed this country up.

[MediaDeit]

and the jobs and supporting industries?

THEN YOU FAIL, THE UAW SHOULD BE OUT OF WORK PERIOD. THAT IS LIFE.

Other companies will come in and pick up the pieces. Maybe we should bail out the newspaper companies now because "of the jobs"


People are so stupid.............................. I think the fact that Washington is controlled by Dems and Reps prove it. 90% of the population has their face up their parties ass.

[Lost_it_to_a_9]

They should of Filed for Banruptcy before taking 30 billion fro mteh Tax payers who will get nothing back. Then they could of voided the UAW contracts and prospered. Instead with Obama, GM will now be controlled by the government and by the UAW....Great


ten years down the road we will truly see how much Obama ****ed this country up.

Who said tax payers wont get anything back?

The government basically owns a majority stake in GM now... meaning the taxpayers own it... i dont know when, but down the line, the government WILL make money off this and get the money back...

[Lost_it_to_a_9]

THEN YOU FAIL, THE UAW SHOULD BE OUT OF WORK PERIOD. THAT IS LIFE.

Other companies will come in and pick up the pieces. Maybe we should bail out the newspaper companies now because "of the jobs"


People are so stupid.............................. I think the fact that Washington is controlled by Dems and Reps prove it. 90% of the population has their face up their parties ass.

The only people who say let it fail are people who are not involved in any way of the company and will not be effected at all... and people who are trying to benefit for their own well-being... which im sure u fit into either categories...

Sure people lose jobs, but to simply close the doors on GM and call it quits is not an option... you call other people idiots?

You clearly have no idea what the fuk ECONOMICS is, and the spill-over costs of letting GM fail are...

let me guess, ur part of the 10% in america who doesn't have his head up his ass, and knows everything right? lolll, why don't u run for president then and fix this problem.

[Thy_Kingdom]

Who killed the electric car? GM did, maybe thats why they are being killed off now?

Good documentary, feels good man. You reap what you sow.

[stifler1]

Honestly what did you want him too do, if he didn't nationalize the company more jobs would be lost not only from GM but from suppliers it would have a domino effect costing lots of jobs, then you would moaning about that. Obama can do no right too some people.

but i do understand he is taking a huge gamble investing all of that money in GM when its not for certain that people will even buy the cars, but in my eyes it was a necessary gamble too save jobs and GM.

[MediaDeit]

The only people who say let it fail are people who are not involved in any way of the company and will not be effected at all... and people who are trying to benefit for their own well-being... which im sure u fit into either categories...

Sure people lose jobs, but to simply close the doors on GM and call it quits is not an option... you call other people idiots?

You clearly have no idea what the fuk ECONOMICS is, and the spill-over costs of letting GM fail are...

let me guess, ur part of the 10% in america who doesn't have his head up his ass, and knows everything right? lolll, why don't u run for president then and fix this problem.

And what is GM going to become? A company owned and run by the same people who are one of the main reasons for their demise, the UAW? The only viable option was for GM to go into bankruptcy before the government threw money at them so they could void their contracts with the UAW, who are overpaid and do a poor quality. That didn't happen, instead they were given money only to end up filing for bankruptcy anyways, but now the company will be handed over to the government and the UAW. Two organizations that are not going to produce a viable car company. GM is already selling off its PROFITABLE assets. GM Europe will be gone, They were profitable in most other regions in the world. Businesses fail, other businesses are will pick up the pieces. GM was a badly run company with vastly overpaid workers..............that isn't going to change. GM failed once the government through money at them, which cemented the UAW within the company, the same UAW who gave millions to Obama's campaign.

[paleozoic]

this was obama's explanation for taking on 60% ownership of GM:

""Instead of taking so much stock in GM, we could have simply offered the company more loans. But for years, GM has been buried under an unsustainable mountain of debt. And piling an irresponsibly large debt on top of the new GM would mean simply repeating the mistakes of the past," he said."

didn't he just take the complete opposite approach with our government by handing out his $900 billion stimulus package? our government is in debt and he just added an irresponsibly larger debt on top of that...

[MediaDeit]

this was obama's explanation for taking on 60% ownership of GM:

""Instead of taking so much stock in GM, we could have simply offered the company more loans. But for years, GM has been buried under an unsustainable mountain of debt. And piling an irresponsibly large debt on top of the new GM would mean simply repeating the mistakes of the past," he said."

didn't he just take the complete opposite approach with our government by handing out his $900 billion stimulus package? our government is in debt and he just added an irresponsibly larger debt on top of that...

Shhhhhhhhhh............... its okay, he is the obamessiah

[803988294]

Dont you see what this is doing to our cities? Look at the once revolutionary Motor City and how it has been brought to its knees. These are our people and our economy that are suffering here.

Have you ever even been to motor city california brah? City was brought to its knees decades ago. Place has been a dump long before any of this

[Viking22]

Ain't noooooo way in hell I'm buying anything from Government Motors.

You could put the government in charge of the sahara desert and in 5 years, there'd be a shortage of sand.

GM=dead

In before govt & UAW begin attacking Ford from inside and out for not playing along.

[rea99]

Ain't noooooo way in hell I'm buying anything from Government Motors.

You could put the government in charge of the sahara desert and in 5 years, there'd be a shortage of sand.

GM=dead

In before govt & UAW begin attacking Ford from inside and out for not playing along.

Ya, but wtf am I going to do now. I always buy new and just out of principal American cars. I made a vow a long time ago not to buy Ford because a dealership pissed me off, now I don't wanna buy GM or Dodge either. I usually buy a new car every 3-4 years.

Guess it's all used from now on or just keep what I have until they fall apart.