GM filed for bankruptcy today

http://www.nytimes.com/2009/06/02/business/02auto.html?partner=rss&emc=rss

http://www.nytimes.com/2009/06/01/business/01deese.html?_r=1&em

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

What are your views on this? Do you think GM will last? If so, for how long? Post your thoughts.

 

Very bad news. My city (Oshawa) is home of the GM Canadian headquarters and GM employs a very large percentage of our population. Unemployment here has skyrocketed over the past few months and its getting a lot worse. (GM Canada was formed in 1918 by Robert Samuel McLaughlin who is a big name in Oshawa, I know quite a few of his descendents personally, and his mansion(now a national historic site, many big movies have been shot there such as Billy Madison) is just a few streets away from my home).

 

About damn time. Only in america where we have free market, will the government step in to help a company, which obviously people do not like.

Next is Chrystler

 

The only reason the government stepped in was to avoid a depression, which now seems inevitable

 

Yeah, because spending billions of dollars has really helped.

Have you seen the national debt from last year to this year?

 

If only Obama would let it fail. Out with the inefficient who can't compete, and in with those who can, please.

 

That would make too much sense. Let's put us in trillions of dollars more in debt, just to do nothing. It's not just obama, its everyone in washington.

 

i dont realy know much of the company but my dad says gm cars suck. so i think they will fail imo.

 

Way to base your opinion off your parents....

http://www.youtube.com/watch?v=62Vsgl6SUZ0

 

not parents but parent
its just my dad that said it ;D

 

He's not going to. He'll be flamed and hated as the worst president in the history of the United States. He has to do things to please the people as well as the country.

What a silly democratic notion.

 

It's not just obama, bush was pushing for bailouts before obama got into presidency. It takes more than the president to get a bail out, mind you.

 

Oh don't be silly TJ! It's our duty as American citizens to help out our fellow man, no matter how inefficient they are!

Don't you see that Socialism is your friend?

EDIT: ^ LOL

Do not you see