Place you thoughts/bets on when GM will go bankrupt

[Evolunchbox]

Sadly, this isn't a matter anymore of "if" it's going to happen, now it's "when" it is going to happen...



It amazes me how a company that represents so much strength in our nation can tank or let themselves slide like they have. We (tax payers) will be paying for this for a very long time. Selfishly, I don't think we should but welcome to America! Their huge pension plan debt and blind spending when they should of foreseen this coming blows my mind. This will affect each and every one of us, like or not... GM is set to run out of cash by April, which is the end of the first quater...



So, when do you think it's going to happen? What do you think will happen? Will the government pick up the tab on their pension plans? Will they sell off the assets and send 1000's of people home jobless? Do you not give a shit think this thread is worthless only later to find out that you’re paying and didn't even know...? Vent! And the even bigger question; which of the "Big 3" will be next? It’s coming ladies and gents

[Evolunchbox]

Sorry, I needed to vent!

[alpine_aw11]

They're definitely going to be bailed out. Seems to be the current trend. I would have said Ford will be next but it seems like they are starting to get their shit together, at least they have money to last until 2010. Plus they have a huge Euro market to support the American segment if needed.

[Ran]

That's what they get for lucrative spending and not evolving with the times. The Japanese and Koreans have been dominating the market for some time now but the "Big 3" just keep wasting money on big SUV's and vehicles with lackluster quality. Dodge is going away since GM wasted the time and money on buying it, GM is going down, and Ford is right behind them. Sucks, but that's business and their practices led to their own demise. Time to get a Hyundai.

[BKgen®]

go Hyundai!


maybe if GM would've always made good cars, people might actually buy them more than asian cars.

highly unlikely though.

[BobbyFresco]

I'm sorry but IMO, the carmakers should not benefit from taxpayer bailouts.
People complain about alleged socialism practices that Obama is supposedly for but here we are, giving money away to carmakers and insurance companies and others.
Does anyone not see the problem in that?

Not to mention, alot of our current policies ie, taxation, wellfare, public education, have socialist qualities.

[civic95]

You can only blame the unions. They have way better benifits, pensions, and pay than most of the country. GM's cars don't compare to most japanese, or european brands. Even though they are cheaper, they could be even less expensive if it wasn't for the unions labor rates and they may sell more of them. Or GM could use the extra money wasted on labor, on design and research. There is no reason for someone that puts doors on a car for 20 yrs to make six figures just because of the built in pay raise structure, AND have a pension that's better than a police, fireman or teacher. I get raises based on performance, it's not charted or guaranteed. The rest of us work in market and get salaries based on capitalism. It's time they do the same. There are plenty of people that would put doors on a car for $35K a yr or less (not me but others would).

Then if you add in the credit crisis we've put ourselves in, it just adds to their misery. And we are expected to bail everyone out, because of bad business structure? They will eventually be back in the same situation if they do not make drastic changes. I would really like to know how much each one of us is repsonsible for all of these bailouts going on daily. I'm really getting sick of this. We are supposed to bail you out because you're too fucking stupid to do the math on your own mortgage? NO! Maybe next time you will take a few mins to do a couple of simple calculations.

[Kasper]

Yeah i know this problem all to well considering the company my dad works for makes about 70% of chevy's emblems and center caps and stuff. It really worries me cause they shut down what 4 of there main plants and talking about shutting down more. not to mention they keep makeing things that dont sell and they do make an over abundence of them that no one wants to buy them. to top it all off now unless you have perfect credit you cant get a loan for anything because the banks give money to people who know they wont ever pay it back and home loans they loose there asses on cause people get these loans, wait for the payments to balloon, walk away, then go into the same bank and ask for ANOTHER loan and get it then turn around and do the same thing! Chevy is pretty much doing the same thing in this instance cause they get federal money, blow it on dumb shit and give raises to there upper management people and then they sit back and wonder why there moneys gone again! it just really worries me because they keep bailing everyone out except for the avg hard working person were all gonna be truly screwed even worse then we already are. ok im done with my venting.

[civic95]

it just really worries me because they keep bailing everyone out except for the avg hard working person were all gonna be truly screwed even worse then we already are. ok im done with my venting.

It all boils down to education I guess. We've let so many people graduate high school and college, and they can't even balance a bank account, do simple subtraction, or make a budget. Now, we have to protect the idiots, and save their day. A little suffering would make them wiser. Someone that makes 22K a yr should know they cannot support 5 kids. Or can't afford a $35K car. What's the point forcing others to cover it for them? What does that teach?

[Kasper]

whats really funny is theres a family down the road, there house is going into forclosure cause neither of them wanna work, not that they cant its just cause they dont wanna, so i drive by the other day and the dudes getting out of his BRAND NEW CAR! only reason i know its his is because it had the dealer tags still on it and the sticker. they've got i think 3 kids, and its like "your worried about buying a new mazda instead of makeing sure your kids have a roof over there heads"

[BobbyFresco]

It all boils down to education I guess. We've let so many people graduate high school and college, and they can't even balance a bank account, do simple subtraction, or make a budget. Now, we have to protect the idiots, and save their day. A little suffering would make them wiser. Someone that makes 22K a yr should know they cannot support 5 kids. Or can't afford a $35K car. What's the point forcing others to cover it for them? What does that teach?



You really think that the examples you have stated are the root of the problems?

There are suburban families living beyond their means as well.
Living off of credit and paycheck to paycheck, buying up all the latest shit and can't afford it.

If you can't live without credit or can't pay back what you spend on credit then a cc is not for you. Or a carloan. Or a house.

Not to mention all the people that have lost supplemental income from the stock market going to shit.

Just an example. My parents bought stock for me when I was younger from several different companies, one of those being a Telecom company that went belly up.

I went from having my stock in this company at 100k to 25k.

People are losing the money they depended on for retirement on a daily basis.

[Evolunchbox]

You can only blame the unions. They have way better benifits, pensions, and pay than most of the country. .

Crossing fingers, I'm hoping this dissolves the automaker union... personal experience, they are criminals. They are VERY strong though and will not go away lightly. However, once the Big 3 tank, they should follow...."should"


Yeah i know this problem all to well considering the company my dad works for makes about 70% of chevy's emblems and center caps and stuff. It really worries me cause they shut down what 4 of there main plants and talking about shutting down more.

Very sad and I feel you on this one as well. One of the companies I work for is 85% Automotive... Not going to be pretty at all!

What isn't realized by many is that the suppliers for these companies will be hit hard and it will go all the way down the chain. Expect a HUGE layoff period, especially Michigan!

[PawnShopCEO]

Union people are ALWAYS democrat supporters. The unions have had Detroit by the balls for 30 years. To hell with them for picketing cause they make 30$/hr instead of 35$/hr. (that is a guess). The pilots unions actually realize that they were making WAY too much money and negotiated down so Delta, united, etc could survive... Automakers sadly have not. I say let them sink

[civic95]

Union people are ALWAYS democrat supporters. The unions have had Detroit by the balls for 30 years. To hell with them for picketing cause they make 30$/hr instead of 35$/hr. (that is a guess). The pilots unions actually realize that they were making WAY too much money and negotiated down so Delta, united, etc could survive... Automakers sadly have not. I say let them sink

Amen, very good example!

[civic95]

You really think that the examples you have stated are the root of the problems?

There are suburban families living beyond their means as well.
Living off of credit and paycheck to paycheck, buying up all the latest shit and can't afford it.




Again, idiots that can't do math. $500 purses, I-phones, and luxury vehicles are worthless if you have no place to put them.

[BobbyFresco]

Again, idiots that can't do math. $500 purses, I-phones, and luxury vehicles are worthless if you have no place to put them.


Yup.
Some people get shit with no intention of ever paying their debt back, which is
alot of the reason why we're at where we're at.

I can't imagine that charge off's would be any more costly than pursuing and collecting debts.

[Evolunchbox]

Amen, very good example!

+1 Reps

[Double_0_Rusty]

all i can say, as a GM employee, I am fucked. That is all......

~packs up toolbox~

~grabs keys~

~Buys a case of Corona~

~ Fuck it----Mexico bound, and down~

[OneSlow5pt0]

go Hyundai!


maybe if GM would've always made good cars, people might actually buy them more than asian cars.

highly unlikely though.

my car is very reliable car thats gets 30mpg hwy...........what more u want from a 80s V8?

[DrivenMind]

GM has been making shitty for twenty years now. And instead of focusing on quality control, they always seem to look for ways to cut costs and keep making money off their simply average products. Anyone ever rode in a Blazer or Jimmy? It's an absolutely shitty truck. Look at how fucking long it took them to replace the garbage Cavilier, with the marginally better Cobalt. The Impala still looks like shit, and nearly all their cars suck the shit out of some fuel. They're also one of the few still offering those shitty 4 speed automatic slush boxes with their new cars.

This has been a long time coming, and while I'd like to see GM get their act together, and make America proud, I'll happily watch them fail for their lack utter lack ingenuity.

[DrivenMind]

my car is very reliable car thats gets 30mpg hwy...........what more u want from a 80s V8?

I'm not trying to bash you here man, but everyone knows third gen Camaros suck. They can be made to be quick, and monsters at the strip, but otherwise everyone laughs at them. They are notorious for being pimpmobiles in trailer parks. They handle like shit, drive like shit, look like shit, and require a 5 liter V8 just to not be slower than dick.

[OneSlow5pt0]

I'm not trying to bash you here man, but everyone knows third gen Camaros suck. They can be made to be quick, and monsters at the strip, but otherwise everyone laughs at them. They are notorious for being pimpmobiles in trailer parks. They handle like shit, drive like shit, look like shit, and require a 5 liter V8 just to not be slower than dick.

yea thier slow now,when they were new they were quicker ocourse......like compareing a foxbody cobra to a 04 cobra....im making close to 300tq which is fine for me,and these cars handled just as good as the corvettes when they were new....i belive they pulled a .89 on skid pad

[§treet_§peed]

only sad thing that will happen when gm tanks is.. no more caddys and vettes.. but wait if they go out will that mean the ones that are here will sky rocket in price, or tank as well?

[BKgen®]

my car is very reliable car thats gets 30mpg hwy...........what more u want from a 80s V8?

I didn't say anything about your car.
But think about the past 10 years...
GM hasn't always made a quality product.

[OneSlow5pt0]

I didn't say anything about your car.
But think about the past 10 years...
GM hasn't always made a quality product.

well i agreed there.......other than the camaro and corvette,chevy has been oing down drain since they started making all thier cars FWD

but the new cobalt SS is amazing

[Julio]

America... America...

When America is doing so well and controlling the world.. moslty everyone pull out there chest happy to be an American... and blah blah..

Taxes? who like them ? no one ? How long have they been going on for? Years..
Is it going to stop ? No.. Move on.. Im already over it.. I hate them.. but it is, what it is..

Companies going out of business yeah, it sucks.. especially GM.. but welcome to the free market....
People want to sit here and blame who ever.. But shit is like this Thanks to our ownselves...

We rob from our own people.. We got rob from our own people.. Is simple..

Now people want to bitch and moan.. fuck it..

Lets just enjoy what is left ( for now ) and move on.. If you are of one of the person with a job and not into to much financial debt.. be glad.. and hope this country moves foward...
This is a time to shut the fuck up and help... This country was built on teamwork and being proud to be AMERICAN.. while we sit here and talk all this trash to each other.. countries around the world are laughing at us....


Vent... End Rant/



peace , love and hair grease.. =] lol

[Sport1.3]

how many times has delta gone bankrupt, and they are still here.......dont worry, they arent going anywhere

[BKgen®]

they'll just give everyone employee pricing discounts.




again.

[stephanie]

When I bought a new car I factored in my other bills first. I budgeted how much of a car payment and insurance I could afford

I got a new civic with a warranty. I do not have any credit cards so basically that's the only thing I owe on. I have two kids to support, and I do not rely on child support because he pays it when he feels like it.
I wonder how some people who live around me can afford these brand new high end cars, I sure as hell don't want a 500 car payment.

Can GM file a chapter 13(?may be an 11) to reorganize ? Or did they change that law?

[BKgen®]

I wonder how some people who live around me can afford these brand new high end cars, I sure as hell don't want a 500 car payment.



They make more money than you do.

[Double_0_Rusty]

When I bought a new car I factored in my other bills first. I budgeted how much of a car payment and insurance I could afford

I got a new civic with a warranty. I do not have any credit cards so basically that's the only thing I owe on. I have two kids to support, and I do not rely on child support because he pays it when he feels like it.
I wonder how some people who live around me can afford these brand new high end cars, I sure as hell don't want a 500 car payment.

Can GM file a chapter 13(?may be an 11) to reorganize ? Or did they change that law?

I have had a truck payment upwards of $500 dollars for 2 years now, it aint that bad. Im 21, and I make around 25k a year......Thanks to GM lol.....that's why I am fucked.....oh well, I still have my grading company to fall back on:yes:

[DrivenMind]

I have had a truck payment upwards of $500 dollars for 2 years now, it aint that bad. Im 21, and I make around 25k a year......Thanks to GM lol.....that's why I am fucked.....oh well, I still have my grading company to fall back on:yes:

You could always try to get work with a better company...

liek Yota.

[1000cckiller]

Union people are ALWAYS democrat supporters. The unions have had Detroit by the balls for 30 years. To hell with them for picketing cause they make 30$/hr instead of 35$/hr. (that is a guess). The pilots unions actually realize that they were making WAY too much money and negotiated down so Delta, united, etc could survive... Automakers sadly have not. I say let them sinkActually they realized they would have a lot more to loose if they didn't, the only reason the pilots did that was for the long run. Their salaries will go back up in due time, as long as the economy rebounds. So it's not that they were making to much, because they deserved what they make.........with everyone's life being in their hands on a daily basis, and all the training and hours they have to log to become a pilot. :yes:

[1000cckiller]

how many times has delta gone bankrupt, and they are still here.......dont worry, they arent going anywheretell me, because I only recall once.

[Double_0_Rusty]

You could always try to get work with a better company...

liek Yota.

I could....but, Im 21 and have 5 going 6 years in the car industry....Im kinda tired of it all. I Co-own a grading/landscaping company....Im thinking really hard about going back to that full time.

[SuperChicken]

Actually they realized they would have a lot more to loose if they didn't, the only reason the pilots did that was for the long run. Their salaries will go back up in due time, as long as the economy rebounds. So it's not that they were making to much, because they deserved what they make.........with everyone's life being in their hands on a daily basis, and all the training and hours they have to log to become a pilot. :yes:

Nobody remembers Eastern??? They remained greedy, refused concessions, and where are they now??? Nobody remembers Eastern.:thinking:

[SiRed94]

If they would have just given up on the OHV engine design.

[Psycho]

Maybe they'll do a buy 1 get 1 free deal on z06's

[Alan®]

I say let em fall. I don't know if it's the same in all dealerships but when I worked at a dealership this summer(who shall remain nameless). The shit that was pulled was ridiculous. Lying on loan applications. Giving people who have a $1200, house payment and bad credit a $14K car at $500/month. The shit was stupid. We were putting people in cars knowing damn well they would never be able to afford that shit. IMHO the auto industry brought this shit on themselves. At the same time though I don't feel bad for these idiots who bought these cars knowing that they couldn't afford them who are now crying that their shit is getting repo'd

The bailout was reatarded. What Fannie May, Freddie Mac, and all the rest of these stupid lending companies are doing now by renegotiating all these bad loans is absolutely stupid. The way we start over and move forward as a country is to let the market run its course and start over

I'm so fucking glad that I don't own a house right now.

[Psycho]

I say let em fall. I don't know if it's the same in all dealerships but when I worked at a dealership this summer(who shall remain nameless). The shit that was pulled was ridiculous. Lying on loan applications. Giving people who have a $1200, house payment and bad credit a $14K car at $500/month. The shit was stupid. We were putting people in cars knowing damn well they would never be able to afford that shit. IMHO the auto industry brought this shit on themselves. At the same time though I don't feel bad for these idiots who bought these cars knowing that they couldn't afford them who are now crying that their shit is getting repo'd
Bill Heard?

[Me86Rob]

i heard from my friend up in Canada that there is something in the works about them merging with Chrysler :dunno: but idk. this is honestly the first ive heard of all this.

[Alan®]

Bill Heard?
Nope.

[Alan®]

i heard from my friend up in Canada that there is something in the works about them merging with Chrysler :dunno: but idk. this is honestly the first ive heard of all this.
Yea this has been in the works for sometime now but now word yet on whether or not it will actually happen

[Psycho]

Nope.
Heard Bill?

[Alan®]

Heard Bill?
LOL.

[Me86Rob]

Kill bill? and wtf. Chrysler and GM meriging? lololollolol who is next? Mercedes Benz and BMW?

[Evolunchbox]

Yea this has been in the works for sometime now but now word yet on whether or not it will actually happen


Truth. This was supposed to happen and believe is still under review. There is even talk about the Big 3 being consolidated into one entity...

Nobody bet any specific time yet. My guess is April 2009 GM will file for Chapter 11...

[OneSlow5pt0]

Truth. This was supposed to happen and believe is still under review. There is even talk about the Big 3 being consolidated into one entity...

Nobody bet any specific time yet. My guess is April 2009 GM will file for Chapter 11...

just in time for the new camaros,lol

[§treet_§peed]

lol i got a 1200 dollar house payment.. awesome credit... no job now. just got laid off the other day..:(

[stephanie]

They make more money than you do.
Some of them may have dual incomes.


I am kind of forced to work close to my house because I am the primary caregiver for my kids. So I sacrifice things to be around them more. My family lives too far away to help me. I just try and do what I can.

I don't do too bad.

It really pisses me off when the girl at work who just got married, still has her kids on goverment assistance and buys coach purses and is always shopping and going on vacation.

I am NOT on any kind of assistance because I make too much money. If she makes the same amount and she is married.......how does she qualify?

I know I can probably get a nicer car, but I don't want to be so strapped for money.

Kids are expensive.

Example: my daughter wants a skateboard, walmart skateboard isn't gonna cut it....had to be a pro deck. So I got her an element board.

So basically I put them first.

[Evolunchbox]

Kids are expensive.

Example: my daughter wants a skateboard, walmart skateboard isn't gonna cut it....had to be a pro deck. So I got her an element board.

So basically I put them first.

I don't know you at all, but reps for being a good mother:boobies: :cheers:

[stephanie]

I don't know you at all, but reps for being a good mother:boobies: :cheers:
THANKS!!!!!!
My kids and I are tight.
They drive me nuts sometimes....
But I wouldn't change a thing. Too bad their dad is an assclown
.

[Julio]

You sometimes don't give kids everything they want...

Harsh.. but sometimes they have to wait.

[stephanie]

You sometimes don't give kids everything they want...

Harsh.. but sometimes they have to wait.

i agree, and i do tell them no sometimes.

my son is grounded until he gets his science grade up, and too bad for him because i just bought COD5.

[RL...]

lol my 401k took a dive.....:(

that's about the only way I've been directly affected so far...