[Mystical_Ice]

http://finance.yahoo.com/news/General-Motors-files-for-apf-15397846.html

not really news since we all saw it coming, but i guess now it's official

GM will move forward with four core brands -- Chevrolet, Cadillac, Buick and GMC -- and cut four others. The company plans to cut 21,000 employees, about 34 percent of its work force, and reduce the number of dealers by 2,600.

 

[The Tony Show]

They're seeking bankruptcy protection while reorganizing- not "biting the dust". AT&T, K-Mart, the Airlines, the Railroads and hundreds of other companies that have filed Bankruptcy protection are still around.

 

[billc83]

:yeah:

It's Chapter 11 (Reorganization), not Chapter 7 (Liquidation).

 

[AG'S-V]

Yikes...that's a lot of people and dealers.

 

[CIWS]

Ok so, if the Majority of GM is now owned by the government, and I work for the government, do I now get to take advantage of the Employees discount ? :eyebrow:

 

[Jesda]

ATT isn't really around. ATT was limp by the time it was bought out by SBC then SBC renamed itself ATT. Most of the railroads disappeared.

 

[Jesda]

Ok so, if the Majority of GM is now owned by the government, and I work for the government, do I now get to take advantage of the Employees discount ? :eyebrow:

Wait until another employeediscountforeveryone fire sale.

 

[CadzillaTN]

the only way GM will survive is to ditch the cancerous UAW. this has been a fact since day 1. of course, our socialist president will not allow this to happen.

 

[Jesda]

 

[Tao_Haus]

ATT isn't really around. ATT was limp by the time it was bought out by SBC then SBC renamed itself ATT. Most of the railroads disappeared.

AT&T "died" because it was a monopoly. Its demise can be traced to the early 1980s when the Department of Justice broke it into seven companies via a gov't break-up suit the DOJ brought after AT&T lost a huge civil antitrust case brought against it by Litton Systems.

I don't see GM failing outright. But, if it does it'd be a real shame. Like a lot of GenXers, I switched back to domestic products because of GM's output. After a BMW, Porsche and a couple odds & end from hither & yon, I bought a 2005 Yukon Denali XL and, of course, I then bought my 2006 V 'cause I was satisfied with the truckster. (Both cars I bought new.) Quality's there and the cost to operate (i.e., flog, break stuff, fix it & enjoy s'more) is far below comparable BMW's, Porsche's, Benzes or Japanese makes.

 

[billc83]

The Feds won't let GM go under. If they're going to force their hand in the Chrysler C11 proceedings (Chrysler having FAR less employees and scope than GM), it's a sure bet it will happen for GM. If public backlash becomes to much, and sales don't pick up, expect billions more to be poured into them.

Frankly, Ford should start an ad campaign tomorrow with a new slogan: "Ford: We are not bankrupt."

 

[V-Eight]

Well their motto used to be "Heartbeat of America" I think that if GM were to go under, America is ****ed

 

[RightTurn]

:umno: Actually, Chevrolet's slogan was "Heartbeat of America". Not GM.

 

[Ranger]

the only way GM will survive is to ditch the cancerous UAW. this has been a fact since day 1. of course, our socialist president will not allow this to happen.

They cannot do that. It's illegal. The day of reckoning has come for the UAW. They have had their eyes opened and now realize that it CAN happen to them.

 

[V-Eight]

:umno: Actually, Chevrolet's slogan was "Heartbeat of America". Not GM.

I know, but Chevy is GMs biggest line.

 

[77CDV]

Bet the SOB still runs (more than you could say for any ricer in comperable condition):2thumbs:

 

[V-Eight]

LOL, I just realized that smashed in like that, it kinda looks like an old Civic

 

[Night Wolf]

Wonder what this means for the Solstice/Sky.... if they'll move on to Chevy or die off completely, which would not be cool. I really like them.

Othen then the fact that GMC is General Motors Company, I really see no reason why they are sticking around.

 

[gary88]

Government Motors :alright:

 

[V-Eight]

Othen then the fact that GMC is General Motors Company, I really see no reason why they are sticking around.

Yeah, all they have to do is offer the higher trims (Denali) in the Chevy line.