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GM and Ford Bankrupt?
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| gehzumteufel |
I think so. This was just reported on Friday:
| quote: | | Soaked in bad news, GM and Ford received yet another dousing when their three big European credit insurers dropped them this week. Euler Hermes, Atradius, and Coface have all refused to write policies for suppliers trading with both automakers. The three giant insurance companies control more than 80 percent of the world's credit insurance (insurance companies typically pull their coverage when a client stops proving insurers with enough information to calculate a credit risk, or their overall risk profile has deteriorated). Without their credit cover, suppliers will be forced to either trade uninsured, cease trading, or ask for payment up front. Supply issues aside, this news only compounds the automaker's problems as it also weakens investor confidence, already completely slumped. |
Source
In light of this, I expect a bankruptcy filing in 8-12 weeks. |
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| diesel_tron3000 |
the best thing that could happen to them is a declaration of bankruptcy under chapter 1111111111111111
dump them equities buy them bonds |
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| Realist |
| inb4 the local TA "traders" playing with their 500 dollars in the stock market saying, "i'm gonna make money off of this" |
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| gehzumteufel |
| quote: | Originally posted by diesel_tron3000
the best thing that could happen to them is a declaration of bankruptcy under chapter 1111111111111111
dump them equities buy them bonds |
I wouldn't disagree to be honest. |
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| zoogla |
| quote: | Originally posted by diesel_tron3000
dump them equities buy them bonds |
...and banks will keep jacking up their premiums! :gsmile: |
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| gehzumteufel |
| quote: | Originally posted by fayraree
...and banks will keep jacking up their premiums! :gsmile: |
As if they haven't already!? |
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| zoogla |
| quote: | Originally posted by gehzumteufel
As if they haven't already!? |
allow me to re-emphasize for those for whom english is a second language:
| quote: | Originally posted by fayraree
...and banks will keep jacking up their premiums! :gsmile: |
:p |
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| gehzumteufel |
| quote: | Originally posted by fayraree
allow me to re-emphasize for those for whom english is a second language:
:p |
lol I know. :p |
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| Sunsnail |
| quote: | Originally posted by diesel_tron3000
the best thing that could happen to them is a declaration of bankruptcy under chapter 1111111111111111
dump them equities buy them bonds |
Yeah I wanna buy me some 1% bonds |
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| zoogla |
| quote: | Originally posted by Sunsnail
Yeah I wanna buy me some 1% bonds |
no dude its all about the asset-backed commercial paper |
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| Abercrombie |
Let them sink. You don't fix a rusty old ship, you invest in ones that are successful and profitable. Waste of our tax dollars.
Do away with the unions that pay bolt tighteners $50/hr, and pay for performance, not seniority, and you'll turn a profit. |
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| Krypton |
| They should merge. Only speculators should be buying GM and F stock. |
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