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So GM's filing for bankruptcy today ...

Discussion in 'Sports and News' started by Steak Snabler, Jun 1, 2009.

  1. Steak Snabler

    Steak Snabler Well-Known Member

    Should be official shortly after 8 a.m. Eastern:

    http://www.nytimes.com/2009/06/01/business/01auto.html?hp

    I know it's been on the horizon for months, but I'm still shocked it got to this point ...
     
  2. Boom_70

    Boom_70 Well-Known Member

    The Federal Govt and UAW will now own most of GM. Should be a great product.
     
  3. Football_Bat

    Football_Bat Well-Known Member

    I usually reserve this for the RIP threads but ...

    GREAT career move.
     
  4. goalmouth

    goalmouth Active Member

    GM will be Obama's Vietnam. Everytime he turns around, there's another $20 billion down the drain.
     
  5. mustangj17

    mustangj17 Active Member

    Wrong thread. This is clearly not news! ;D
     
  6. mustangj17

    mustangj17 Active Member

    Anyway, this is pretty bad news for Michigan.

    Four plants closing: Flint, Ypsilanti and Pontiac - Flint and Pontiac are already ghost towns that are in the process of shuttering schools and planning ways to bulldoze vacant blocks.
     
  7. Football_Bat

    Football_Bat Well-Known Member

    Michigan still exists? Three-quarters of all Michiganders have moved down here already.
     
  8. slappy4428

    slappy4428 Active Member

    Closing the Willow Run plant is HUGE... That was Ford's original plant that built bombers in World War II.
    Livonia Plant is also big... huge west side employer...
     
  9. 21

    21 Well-Known Member

    Michael Moore, 'filled with joy':

    http://www.thedailybeast.com/blogs-and-stories/2009-06-01/goodbye-gm/
     
  10. Armchair_QB

    Armchair_QB Well-Known Member

    I've always thought it would be cool to own a Lada.

    [​IMG]
     
    Last edited by a moderator: Dec 15, 2014
  11. Steak Snabler

    Steak Snabler Well-Known Member

    Filing is in:

    http://www.nytimes.com/2009/06/02/business/02auto.html?_r=1&hp

    GM is $172 billion in debt. That's billion, with a "b" ...
     
  12. Pete Incaviglia

    Pete Incaviglia Active Member

    The Freep on Sunday published a medium-sized featurette outlining GM's history. It was amazing to see how quickly it rose to dominance and how equally fast it fell. Unbelievable.
     
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