GM To File For Bankruptcy

FishHunt

FishHunt

Well-Known Member
Joined
Mar 21, 2005
Location
Franklinville, NC
GM is going to to file for bankruptcy later today. I wonder how many more billions of dollars the black hole that is GM will suck out of the US taxpayers wallets? :shaking:

<><Fish
 
as many as BHO throws in...
kick the unions, dump the Saturn line...and try to compete
 
They should have done this a long time ago before wasting all this time loosing more $$$.

I wonder how it will affect my GM stock
 
In their defense, over the last week they have put out many proposals to stockholders/lienholders/unions to keep out of bankrupcy, but they keep voting them down.
I'm not saying it isn't their fault, but there's plenty of blame to go around.

EDIT (Rockcity) I dumped my GM stock a few years ago after it had already fallen by 300% down to worthless.
 
Well, I bought when they were like $1.26 expecting it to go up like it did in the past. I'm not holding my breath. :(

all other car makers are up by a fair margin today. wonder if GM had anything to do with that
 
Well GM stock is at .75 this morning and now it is at .90. I agree kick the Unions OUT. Thats why alot of GM's plant's is Mexico and Canada.
 
v8pickup said:
Well GM stock is at .75 this morning and now it is at .90. I agree kick the Unions OUT. Thats why alot of GM's plant's is Mexico and Canada.
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gonna be hard to do with UAW holding something like 25% of the stock now.

yall for socialism! :rolleyes: :poop:
 
Hee Hee!
 
SkyHiK5 said:
as many as BHO throws in...
kick the unions, dump the Saturn line...and try to compete
Click to expand...


Drop Saturn? Why? My 99 saturn is awsome. It just turned
130k and it uses/leaks about a quart to a quart and a half every tank of gas. Everyone that I know thats had one has had the same issues.
 
1stgenxxx said:
Drop Saturn? Why? My 99 saturn is awsome. It just turned
130k and it uses/leaks about a quart to a quart and a half every tank of gas. Everyone that I know thats had one has had the same issues.
Click to expand...

lol it is not about the quality of the cars...it is a money sponge, pontiac is already gone, GMC trucks will go next or Chevy trucks they do not need duplicates.....

Saturn was created as a GM arm to appeal to the gay and lesbian community...it didnt work....they tried to go mainstreeam and it still hasnt worked...drop the line

This isnt time for GM nostalgia, to hell with the cheese let me out of the trap.
 
1stgenxxx said:
Drop Saturn? Why? My 99 saturn is awsome. It just turned
130k and it uses/leaks about a quart to a quart and a half every tank of gas. Everyone that I know thats had one has had the same issues.
Click to expand...

Our '97 SL2 "lost" a quart about every 750 miles, for 10 years until we just sold it. In that time I bet I added 30 gallons of oil (besides changes) yet never had 1 drop left on the driveway. Oddest thing ever. And aparently it dosn't require oil anyway, so many times Wifey just let it pretty much run dry yet it kept ticking.

Cool cars/ideas for sure - but Saturn only made a profit 1 year ('93) by a very small margin. No company should go on that long fueled only by hopes, dreams and rainbows.
 
I had a 94 wagon that was the same way....they can go through some oil. This one runs great expect for the oil issue. There isn't any reason to change the oil because it cycles through so quick. I just add oil when hear the top end rattle
 
The only good thing that came from Saturn was the Ecotec engine. Dump Saturn, Hummer, Buick, and GMC. Run it with Chevy and Caddy, thats all that really sells anyway.
 
supraman1990 said:
The only good thing that came from Saturn was the Ecotec engine.
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That engine isn't even from Saturn. The Ecotecs are mainly based off of Saab's (yes, SAAB) B204 series of engines.

I'm glad GM is disappearing. No more will they buy smaller companies, take their good designs, and then butcher their name.
 
SkyHiK5 said:
to hell with the cheese let me out of the trap.
Click to expand...
I'm glad I saw my dad in the trap and never got caught! He's still in it though.
 
My 1964 GTO convertible and 1970 Z28 were great cars.

The 1982 GMC 4x4 truck, purchased new, was underpowered, got poor mileage and had lots of wind noise around windows. Had good fit and finish. They got me with that GMAC financing and rule of 78 pre-payment clause at the very bottom of the contract that I wasn't told about. The new 1986 K2500 was a piece of crap. Sold it at 12,000 after fixing the brakes, replacing broken plastic items under hood and replacing valve cover gaskets. That was it for me with GM. Switched to Toyota and never looked back.

Brother has a new Chevy PU. Really nice but paint problems starting to appear.

I am pissed our elected AH held a gun to my head and gave Rick %$*# Wagner tax payers money. Let them fail, they earned it.
 
According to what I have been reading GM will go down to 4 Nameplates. Looks like they will eliminate or sell Hummer, Saab, Pontiac, and Saturn. This moring an unamed buyers was supposedly found for Hummer. Some folks should buy Hummer and Pontiac combine them and have a decent company. Hummer has a 100 MPG prototype Hybrid that a California Water company is supposed to test by 2011. Both could be solid companies again if managed right.
 
hummer is being bought by Sichuan chong (or something like that, i cant remember) heavy industries.

lol, the american classic is going to be chinese made.

maybe they will get rid of the junk and bring back the H1 Alpha
 
BigRedB2 said:
hummer is being bought by Sichuan chong (or something like that, i cant remember) heavy industries.
lol, the american classic is going to be chinese made.
maybe they will get rid of the junk and bring back the H1 Alpha
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Amen!!

I read somewhere that GM will still produe Hummer for the new buyer.
 
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