GM looking bad

Discussion in 'The BS Topic' started by Rick WI, Nov 18, 2008.

  1. Rick WI

    Rick WI Veteran Member

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    Market cap of $1.7B and $45B+ in liabilities. Not looking good. $2.88 per share right now. Don't think part of a $25B bailout is going to save the sinking ship. Hard to imagine even a few years ago, let alone 20 or 30, that GM might cease to exist. Simply an amazing/historic time we are living through right now. It really and truly is pretty sad. To me it's like an old pet. Do you try and save it time and time again even though it's suffering or do the right thing and put it to rest in a respectful fashion? May be time to put this old Dog to rest and let the market take it's course.
     
  2. 77thor

    77thor Veteran Member Lifetime Gold Member

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    I'm leaning that way myself..... let them go through Chapter 11 and restructure... it might be the best thing for them.
     
  3. Rick WI

    Rick WI Veteran Member

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    Agreed, although hard to admit.
     
  4. protour73

    protour73 Veteran Member Lifetime Gold Member

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    they should probably just shoot it, like you'd do to an injured horse :eek:
     
  5. Buickfunnycar

    Buickfunnycar Veteran Member Lifetime Gold Member

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    Can't be good news for the Camaro.No Z/28 and the 'vert's been shelved now I hear...who woulda figured their timing would be so bad on this intro?
    I heard GM is leaving Lutz at home too at the LA car show calling it a "PR disaster in the making" for him to show up smoking a big fat stogie while GM's got their hands out asking for bailout from the feds.
    GM will keep a low-profile at the show,no big brass will be in attendance.
     
  6. docnascar

    docnascar Veteran Member

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    What I don't get is why would GM try to buy Chrysler if they didn't have any money?

    Sounds like they have the same mentality that all these people had when they bought houses and couldn't afford them.

    I wish them luck. Always been a GM fan for the most part. Owned more GM's than any other brand.
     
    Last edited: Nov 18, 2008
  7. tom3

    tom3 Veteran Member

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    Never understood the merger deal either. I figure GM wants to eliminate the Trailblazer and the Hummers and sell the Jeeps, but the rest of the line would be a dead weight to them. Lots of new Camaros spotted on the highways of late, all RS or V6 models though from what I hear.
     
  8. Damon23

    Damon23 Veteran Member

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    It is a shame. But I think it would be for the best, but come on. Who are we kidding? They will get the money, they will get more money adn it will get squandered. They need to get rid of the UAW and go to work. I'm tired of the crying from the UAW. What makes a uaw worker more important than all the other people whom lost thier jobs cause the company they worked for went down the tubes?

    Folks, we dont have to worry about being attacked by terrorists in the first few months of our new prez's administration. The terrorists are sitting back laughing cause we are killing ourselves.
     
  9. muscl car

    muscl car Veteran Member Lifetime Gold Member

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    looks like the camaro is now history !!:eek: :eek:
     
  10. MadMike

    MadMike Administrator Staff Member

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    My crystal ball says 1 of 2 things will happen:

    1: The gov't will come to the "rescue" and waste taxpayer money and prolong the suffering.... and we'll ultimately come to

    2: GM goes bankrupt.
    dumps the unions, dumps saab, hummer, GMC... dealerships. and emerges as "Chevrolet" and maybe "pontiac" too. Cost competitive with the foreign manufacturers that have a competitive edge due to our fedgov meddling (which'll no longer be an issue)

    All the union healthcare and a lot of the retirement stuff and pensions, etc... will be foisted onto the US taxpayer anyway.

    If they play their cards right, CHEVROLET & CO could really be competitive.
     

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