GM Out of Bankruptcy
General Motors has completed its trip through bankruptcy far faster than experts expected. Did its bankruptcy status deter you from buying a GM vehicle? What do you think its prospects are now as a new company with fewer brands?
-- Matt Glynn
Faster than experts expected. Duh! That's because it was ramrodded through and it was not a normal bankruptcy. It was a sham and leaves them in the same mess as before.
Posted by: Jeff | July 10, 2009 at 04:32 PM
just keep the UNIONS under control ...no more rapid pay increase and luxurious benefits....you can what they did to the old gm and how is failed....and that inculdes these smartest and brightest ceos ,,,,no more luxurious planes trips ...ETC....
Posted by: frquarter | July 11, 2009 at 08:11 AM
I really hope that GM will soon make some profits and repay the American Taxpayers the billions we loaned it.
But you have to question the wisdom behind the new puny car sub-compact to be put together in the Orion, Michigan assembly plant. GM hopes for puny car sales in excess of 100,000 vehicles annually.
Good luck! We are not Europe. Americans do not want or like puny, sub-compact cars. They are too small for our needs and too dangerous for our highways.
GM would be better off using the taxpayer billions to develop full size cars that can get 50 MPG, or better, on regular gas, without the cumbersome and costly "hybrid" technology.
Give Americans high quality, fuel efficient, full size cars and they will buy them, as fast as GM can make them. Give us puny cars like the new ObamaMobile and we will run away from them just as fast as we ran away from the city of Buffalo.
Posted by: OPMike | July 11, 2009 at 01:58 PM
If only they could invent a car that ran on BS that way they could run a supply line directly to the oval office. Experts say this BS could fuel 100% of Americans homes and autos.
OP Mike I agree most of us will not drive little puny Obamamobiles I wouldn't even if it was given to me. What would the pimps do in the hood ? They wouldn't be caught dead in one, they would have to weld about twenty of them together. There is something just not cool about a grown man climbing out of an econobox, know what I mean ?
Posted by: jd | July 12, 2009 at 12:59 AM
There's a huge ding in that fender. And it took $50 Billion in taxpayer dollars to try to say "Just like new, folks."
Well, it's not a "new GM".
Most of all, because the primary need is getting off of foreign oil. The auto and oil industries have lobbied incessantly to stop public action, while even T. Boone Pickens is at a near standstill.
The oil speculators are alive and well, and it still only takes ten percent down to control oil futures contracts. Whether short or long, unpredictability is the norm. Oil could go to $30 bbl, or $130 bbl, almost overnight. Now that the public is quiescent, they are being set up to pay big time. And that will be the final death knell for GM and all those taxpayer funds. Too bad for Obama's auto czar plan.
Best business to be in? Be an oil speculator. In a few years you can buy GM lock, stock, and barrrel. That new taxpayer owned stock is virtually worthless. Saving GM is the taxpayers buying a pig in a poke. Yes, out of bankruptcy, into the fire.
Posted by: Hank | July 12, 2009 at 11:10 AM