GM enters bankruptcy protection

[SteamWake]

Originally Posted by Biggles

Was bound to happen eventually if you ask me...no matter the leadership...

Problem is that with the bailout 'attempt' the federal goverment became the major share holder (along with the UAW) and are now running the show.

[GoldenRivet]

Originally Posted by SteamWake

Problem is that with the bailout 'attempt' the federal goverment became the major share holder (along with the UAW) and are now running the show.

Bingo

[AVGWarhawk]

Bail out, bankruptcy, or not...the writing is on the wall. GM will still fail. American's are not going to rush out a buy GM products. Some will not because they bungled a bail out that was crap to begin with. The GM products still have the stigmata of being crappy cars and quite frankly, not very good looking. Furthermore, most Americans believe once the factory closes there will be no parts for their car if the car breaks down. Not true but that is the thought if the factory closes. Also, they think 'what if' GM blows this also, what of my warranty? It is a big bungled mess and GM will not survive.

[SteamWake]

Originally Posted by AVGWarhawk

Bail out, bankruptcy, or not...the writing is on the wall. GM will still fail.

Well no kiddin, look whos running it.

Again name me one federal goverment entity that is run profitably, and efficently.

You think GM made crappy products in the past wait till they have to meet the mandates and 'controls' placed on them by their major shareholder.

Barry says he has no interest in running this company yet he fires the ceo, puts someone else in his place, demands they re-tool, streamline and produce eco friendly cracker boxes.

"I dont want to tell you what to do but here is what your going to do." paraphrased of course but thats it in a nutshell.

[Kapitan_Phillips]

Not only that, but GM contribute to, or own many European car makers too. Vauxhall for example, is rather nervous, but I believe the German company Magnum might make a move to buy them out before long.

[AVGWarhawk]

Even if left to their own devices...GM will still fail. GM does not need the government to help in their failings but it will certainly speed up the process.

As they say, 'It is good enough for government work.'

[mookiemookie]

Originally Posted by SteamWake

Well no kiddin, look whos running it.

Again name me one federal goverment entity that is run profitably, and efficently.

HOLC turned a profit by the time it was phased out in the 50s and the prison system is run pretty efficiently.

[Platapus]

Originally Posted by SteamWake

Again name me one federal goverment entity that is run profitably, and efficently.

Office of the Comptroller of the Currency.

Trying to make a silk purse from a sow's ear. new GM add to begin airing Wed. June 3.

http://adage.com/article?article_id=137010

[Tchocky]

Originally Posted by SteamWake

Barry says he has no interest in running this company yet he fires the ceo, puts someone else in his place, demands they re-tool, streamline and produce eco friendly cracker boxes.

"I dont want to tell you what to do but here is what your going to do." paraphrased of course but thats it in a nutshell.

They're hardly going to get however many billion dollars and also a free hand in running the business. Cash comes with conditions. The government wants to know that the money won't be wasted. Hence, changes.

It was clear that he meant long-term, regarding running the company.

Gotta hate those government controls, too. I miss the smell of lead in the air.

[SteamWake]

Originally Posted by Tchocky

They're hardly going to get however many billion dollars and also a free hand in running the business. Cash comes with conditions. The government wants to know that the money won't be wasted. Hence, changes.

It was clear that he meant long-term, regarding running the company.

Gotta hate those government controls, too. I miss the smell of lead in the air.

Sure just a temporary take over till they get back on their feet. Kind of like they did with Amtrack..... oh wait.