GM is bankrupt (WL edition less serious edition)

[MongolPup]

I know that this is a Wallstreet topic, but this is a bit less formal.

http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/index.htm

NEW YORK (CNNMoney.com) -- General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable that became inevitable after years of losses and market share declines which were capped by a dramatic plunge in sales in recent months.

http://money.cnn.com/galleries/2009/autos/0905/gallery.gm_problem_cars/index.html

[BKgen®]

These are pretty dark times. As much as I love imports, I'm a proud American and it really sucks to see a great American company like GM experience such hardship... But they brought it upon themselves. Very sad day.. Obama's speaking on it right now.

[Vteckidd]

FUckin A Obama had the BALLS to sit there and say

"What we cannot due is take a large massive debt and burden that on the new GM. Simply adding that massive debt would have been to repeat the mistakes of the past"


AS THIS MOTHERFUCKER HAS ADDED 4 TRILLION TO THE NATIONAL DEBT FROM SPENDING LOLOLOLOL PRACTICE WHAT YOU PREACH.

I love how he said "the previous administration" gave out the loans to the auto companies, completely ignoring the money he gave them in Jan

[MongolPup]

Damn I see him, look up on YouTube time.

[Paul]

you gotta love this:

"The unions' new contracts with the company and GM's underfunded pension funds will stay with the new company."

unions helped to kill GM, i think you all need a :yay:for the wonderful job you've done.

[Ran]

"The unions' new contracts with the company and GM's underfunded pension funds will stay with the new company."Failing to cure the disease eh? Nice.