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GM declares bankruptcy
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| Krypton |
Never thought it would happen...
http://www.ft.com/cms/s/0/e75423ac-...&nclick_check=1
General Motors will file for Chapter 11 protection on Monday in the biggest ever bankruptcy of an industrial company, tapping an additional $30bn in government financing and sparking a probable legal battle between the carmaker’s stakeholders.
President Barack Obama and Fritz Henderson, GM’s chief executive, will speak after the filing in New York, seeking to reassure workers, suppliers, dealers and car buyers that a reinvigorated GM can emerge from a court-supervised restructuring within 60-90 days. |
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| DuBam |
| lol. GM can suck my VAG! :p |
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| Sushipunk |
| quote: | Originally posted by Krypton
Yea, you'r right. |
I knew it! This thread was founded on lies! |
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| schrödingerwin |
| never thought it would happen? lol naive young guy...everyone was expecting this to happen... |
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| Moral Hazard |
| quote: | Originally posted by stren
what about Opel ? |
I thought Opel was sold to Magna on Friday... is this not correct? |
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| Joss Weatherby |
Good riddance to bad rubish.
This idea that the US needs to prop up its failing car manufacturers is totally nuts. Neither GM or Chrysler would ever begin to create cars that fell in line with the products offered by the Japanese/European makers and its their own long history of hubris that killed them.
I hope Ford wakes up and realizes people like cars that dont suck ass and need to be replaced every 4-6 years. THere is a reason people choose to buy a 20 year old used Honda over a new or slightly used American make. |
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| Azz3D |
| quote: | Originally posted by Joss Weatherby
Good riddance to bad rubish.
This idea that the US needs to prop up its failing car manufacturers is totally nuts. Neither GM or Chrysler would ever begin to create cars that fell in line with the products offered by the Japanese/European makers and its their own long history of hubris that killed them.
I hope Ford wakes up and realizes people like cars that dont suck ass and need to be replaced every 4-6 years. THere is a reason people choose to buy a 20 year old used Honda over a new or slightly used American make. |
I think Americans CAN make good cars, but DON'T WANT TO in order to maximize profit (American capitalist system at work) and it seems like people are just waking up to that now. |
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| stren |
| quote: | Originally posted by Moral Hazard
I thought Opel was sold to Magna on Friday... is this not correct? |
I've heard its been sold to some Canadian company, I don't know the details. |
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