Its true GM has filed for chapter 11 bankruptcy....

Heres the new link:

An American icon in bankruptcy*-*Investing | Investing commentary | Investing tips | Nick Louth - MSN Money UK

I can't say that i am surprised but i do feel bad for the 1000's of people that will loose their jobs.

Lets pray no other American Car Companies follow suite.

 

I agree Nolan. Chevy is the brand that "I love to hate". But it is very serious when people are losing their jobs. Very sad...

 

Come on....the Govt/ taxpayers own a good chunk of it. Should we all get a "company car" now?

Sucks that those folks are going to be out of work tho.

 

Our local news at 10 just had a story on that. They also had a story titled "What about Ford?"

Said Ford was going to up production next year and push the trucks and smaller SUVs out like no other in attempt to gain more market share.

Ironic that the only major US auto company that didnt take money from the government is the only one still standing...

Definitely gonna suck to have more people in the job lines...

 

I got a text alert today,that 2500 jobs will be lost in Springfield alone. Im not sure the date that this is going to take place,but that's a lot for a single place here in Tennessee.

 

. FORD. I wonder why we are talking to each other.

 

a clear case of egotism in manigment.thay have ben in trouble for over 2 years and diden do a thing. to bad for the worker's thay will take it in the short's.

 

I'm sorry but - their gluttonous corporate behavior got them where they are today. I feel bad for the employees, agreed.

On Friday afternoon I helped one of my co-workers change out a lightbulb on her Chevy Trailblazer. Her manual said to take the SUV to the dealer to have the service performed. An Fing lightbulb? Are you kidding me? SO, I told her I'd help her out so she wouldn't get shafted by a dealer to change out a stupid bulb. I ended up having to remove the entire grill, and pull out the light to pop the cap off the back to change the bulb.

I couldn't help but think to myself, that it is this kind of attitude that got the car companies in trouble to begin with. Companies rarely design cars to last anymore, they design them with the idea that they'll siphon every nickel, dime and penny out of their customers, all the way down to the stinkin headlights. I'm sorry but this attitude does not warrant repeat business.

I suppose that's why I drive a Powerstroke. I can fix most things myself, and it's made to last.

 

They will probably reorganize and be up and running again, but run by the govt.. Fox news website had an interesting comparison to Amtrak. Repeating history is beyond stupidity if you ask me.

 

I find it very sad that the higher ups couldn't seem to take money out of their own pockets. Instead just keep getting overpaid. I don't know much about being a big man since I'm just one of the little guys, but it seems that if you could reduce some of your major overhead money you might stay afloat. It wasn't that long ago that GM shut down the plant here in Oklahoma. This will be hard to believe, but the Federal Government has an Air Force Base right next to the location. They wanted to use the building, and somehow, they got the citizens to vote on purchasing the building and then leasing it to the Government. (used the statement let's protect the base from closure ) The sad part is that the citizens of Oklahoma County did vote to purchase the facility, just one county out of our State had to foot the bill for this. ( I happen to be so unfortunate as to live within the boundaries of said county by approx 3 miles) The County paid to remove almost everything from the facility that the Government didn't want to deal with. Now your tax dollars come into play to set up the facility the way the Government wants it to be. Sorry to rant, kinda got off subject too, but I feel better.

 

Although sad....the workers are to blame also IMHO. Where else could you get put on payed leave to wait for your job to pick up again. Lets not forget that the car companies were not car companies but insurance administrators! Now that its going under the union finally agrees on major concessions?! They were both to blame for the BS. Now it's 72.5% owned by gov's (guess now they'll say good morning comrade when they go to work)

 

I agree as well on that. No way you should be paid as much as most of those folks get paid to work on an assembly line...oh well...

 

And Chrysler has been bought out by Fiat i do believe... Or they sighned a deal with them in order for Fiat and the Gov. to save there *****....


Here it is...

http://www.nytimes.com/2009/05/05/business/05auto.html

 

We better hope the GOVT gets the flok outta GM or they (the GOVT) my price GM so low that ford will eventually go under also.......That would SUCK!

 

I think the gov will make GM produce vehicles that no one wants to buy.