# GM bankrupt!!??? **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [October 8, 2008, 9:51pm UTC](https://forums.speedlife.net/t/gm-bankrupt/56161 "2008-10-08T21:51:41Z")\ **Posts on this page:** 20\ **Page:** 16
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [November 20, 2008, 12:42pm UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/301 "2008-11-20T12:42:18Z")
^ I think the contracts would be worthless at that point. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [November 20, 2008, 12:57pm UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/302 "2008-11-20T12:57:45Z")
‘Until they show us the plan, we cannot show them the money.’ — House Speaker Nancy Pelosi [http://www.marketwatch.com/news/story/aid-big-three-falters-congress/story.aspx?guid={FC638630-7CB7-4C21-9BA5-732071AD4DCB}&siteid=yhoof](http://www.marketwatch.com/news/story/aid-big-three-falters-congress/story.aspx?guid=%7BFC638630%2D7CB7%2D4C21%2D9BA5%2D732071AD4DCB%7D&siteid=yhoof) This seems like a Deal or No Deal episode. ---
**Author:** ![Dr.Stevil](https://avatars.discourse-cdn.com/v4/letter/d/da6949/32.png) [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)\ **Post date:** [November 20, 2008, 12:59pm UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/303 "2008-11-20T12:59:00Z")
wow, about the first time I’ve ever agreed with that xunt ---
**Author:** ![misteroman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/misteroman/32/7423_2.png) [@misteroman](https://forums.speedlife.net/u/misteroman)\ **Post date:** [November 20, 2008, 9:30pm UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/304 "2008-11-20T21:30:10Z")
> [@Jagermeister](#): > > I will have zero sympathy for any VETERAN WORKERS in the UAW that get laid off. Damn what’d I do to you?:shrug: ---
**Author:** ![Garick](https://avatars.discourse-cdn.com/v4/letter/g/8797f3/32.png) [@Garick](https://forums.speedlife.net/u/Garick)\ **Post date:** [November 21, 2008, 9:33am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/305 "2008-11-21T09:33:03Z")
See [British Leyland Motor Corporation](http://en.wikipedia.org/wiki/British_Leyland#History), Nationalized by the british government in 1975 before certain bankruptcy. ---
**Author:** ![nelstoys](https://avatars.discourse-cdn.com/v4/letter/n/48db29/32.png) [@nelstoys](https://forums.speedlife.net/u/nelstoys)\ **Post date:** [November 21, 2008, 9:44am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/306 "2008-11-21T09:44:47Z")
Guy who lives near me has been payed by gm for years, He has not set foot in the plant for over 15 years. He is “mentaly ill” and still making over 60 grand a year. Best part is his whole family drives nice cars and none of them are build by Gm. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [November 21, 2008, 10:13am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/307 "2008-11-21T10:13:28Z")
General Motors makes more factory cuts, extends holiday shutdown to Jan. 20 at some plants > **[Yahoo Finance - Business Finance, Stock Market, Quotes, News](https://finance.yahoo.com/)** > > At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. ---
**Author:** ![Dr.Stevil](https://avatars.discourse-cdn.com/v4/letter/d/da6949/32.png) [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)\ **Post date:** [November 21, 2008, 10:15am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/308 "2008-11-21T10:15:27Z")
> [@BigRon](#): > > General Motors makes more factory cuts, extends holiday shutdown to Jan. 20 at some plants > > [Yahoo Finance - Stock Market Live, Quotes, Business & Finance News](http://biz.yahoo.com/ap/081121/gm_cuts.html?.v=14) yeah, it looks like we’ll be taking off some “mandatory” time at the end of the year (unpaid) :\ vacation is nice, but so is a paycheck ---
**Author:** ![misteroman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/misteroman/32/7423_2.png) [@misteroman](https://forums.speedlife.net/u/misteroman)\ **Post date:** [November 21, 2008, 11:16am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/309 "2008-11-21T11:16:03Z")
2 of those plants in the article make up about 90% of our output at Tonawanda. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [December 10, 2008, 7:27am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/310 "2008-12-10T07:27:20Z")
GMAC is not looking so hot. . . > **[Yahoo Finance - Business Finance, Stock Market, Quotes, News](https://finance.yahoo.com/)** > > At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. “If GMAC is unable to successfully convert to a bank holding company and complete the GMAC and ResCap offers by December 31 2008, it would have a **near-term material adverse effect** on GMAC’s business, results of operations, and financial position,” the company said in a statement. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 10, 2008, 7:29am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/311 "2008-12-10T07:29:38Z")
I hope GMAC survives. Without an attached financing arm incentives become a whole lot trickier. Not to mention, at the end of my lease, it will be easier to negotiate on my super-inflated buyout price with an ailing company than if it gets sold off to a Chase or a Wells Fargo. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [December 10, 2008, 8:11am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/312 "2008-12-10T08:11:47Z")
You should see what we are offering people to buy out their cars. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [December 10, 2008, 10:43am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/313 "2008-12-10T10:43:27Z")
![http://www.boingboing.net/images/x_2008/youwouldntbuyour.jpg](http://www.boingboing.net/images/x_2008/youwouldntbuyour.jpg) ---
**Author:** ![tpgsr](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tpgsr/32/7374_2.png) [@tpgsr](https://forums.speedlife.net/u/tpgsr)\ **Post date:** [December 10, 2008, 10:44am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/314 "2008-12-10T10:44:39Z")
:lol: :lol: That is great! ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [December 10, 2008, 10:45am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/315 "2008-12-10T10:45:37Z")
> [@Onyx Z32](#): > > ![http://www.boingboing.net/images/x_2008/youwouldntbuyour.jpg](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/b/8/b8d84cb88c74a081bf3a79c6dae30f81290bd84b.jpeg) Ford is not part of the loan anymore. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [December 10, 2008, 10:49am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/316 "2008-12-10T10:49:34Z")
I didn’t make it, I found it on a blog. ---
**Author:** ![OriginalSterm](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/originalsterm/32/4964_2.png) [@OriginalSterm](https://forums.speedlife.net/u/OriginalSterm)\ **Post date:** [December 10, 2008, 11:07am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/317 "2008-12-10T11:07:42Z")
> [@Onyx Z32](#): > > ![http://www.boingboing.net/images/x_2008/youwouldntbuyour.jpg](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/b/8/b8d84cb88c74a081bf3a79c6dae30f81290bd84b.jpeg) Thinking like this is why nobody will give GM/Ford/Chrysler a second chance or accept the fact that they are at least improving their image/quality/fuel economy. Decades ago our parents thought this way about the Japanese and we laughed at them for being “old fashioned”. Import hype is becoming the new “old fashioned” way of thinking. HOWEVER… I will NOT argue that the big 3 didn’t build crap for nearly 2 decades and live off reputation and volume. They probably pissed off a lot of people by building sub-par performing and quality cars. ---
**Author:** ![Wahoo](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/wahoo/32/8265_2.png) [@Wahoo](https://forums.speedlife.net/u/Wahoo)\ **Post date:** [December 10, 2008, 11:20am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/318 "2008-12-10T11:20:45Z")
Ya they were behind in some ways, but this sucks right when things started to turn around and this happens. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [December 10, 2008, 11:48am UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/319 "2008-12-10T11:48:34Z")
Too many people are waisting time talking about the quality of American cars vs. the rest. The issue here is bad management decisions and labor costs. ---
**Author:** ![OriginalSterm](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/originalsterm/32/4964_2.png) [@OriginalSterm](https://forums.speedlife.net/u/OriginalSterm)\ **Post date:** [December 10, 2008, 12:13pm UTC](https://forums.speedlife.net/t/gm-bankrupt/56161/320 "2008-12-10T12:13:27Z")
> [@Onyx Z32](#): > > The issue here is bad management decisions and labor costs. Can’t argue that [Previous page](https://forums.speedlife.net/t/gm-bankrupt/56161.md?page=15) [Next page](https://forums.speedlife.net/t/gm-bankrupt/56161.md?page=17)