Taxes will only accomplish so much. Tax the rich 100%, and I guarantee the politicians will just fritter it away on cowboy poetry, bombing the third world, or some such nonsense. The money that GM allegedly paid back, did it go into the debt, or the pork barrel?

It seems quite elementary to me, cut spending. Between Bush and Obama the federal government has expanded geometrically. I would post a link, but then the question will never enter the queue.

Maybe it is time we ended some pointless overseas incursions. We are not there to win anyway.

And maybe Grandma can move into the spare bedroom. Because Social Security is bankrupt.

And how about we quit electing politicians by the amount of pork barrel spending they bring home?
Don’t give me that "Bush did it" hogwash.His first day in the Oval Orifice, the nation was already trillion in debt. That 6 billion budget "surplus" was an illusion.

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Or, how long until GM hits a crisis that might inevitably head it towards bankruptcy? I remember Obama giving GM 60 days to shape up…

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If in the future, GM share price goes up, are my shares regaining value
or do they disappear once a bankruptcy is declared?

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My thinking is . That the people make too much money. Average 75 dollars an hour. They have the unions to fight for them.That cost a lot.They have big payout to their retirees. Why can’t they take a cut in pay? Get rid of the unions. have all the upper management take no bonuses. There is so much they could do to cut cost. My brother worked there for 3 years and was given 100 thousand dollars and a free car. This was fine and dandy till they couldn’t afford it anymore.

All the money they could have saved ,could be used to making fuel friendly cars at lower prices. Why by a ford,gm or chrysler, when it cost you more and the product is worse than the foreign cars?. You are paying 30 more per hour to get your domestic car. This is one side and I realize there are some benefits to helping them.I will write that latter. Plz don’t get offended I just want to hear all sides to this story.
Carguy I thought it was lower also. Today it was reported on cnn that the average was 75 per hour while `Japanese cars were 45.per hour. Like I said I know there is another side to this story. My family worked for GM and I am just saying what it feels like for people who do not have such cushy benefits. You know you would rather got down to 50 dollars and hour than not have a job at all.

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Do privet individuals on the verge of bankruptcy need to spend more money? Was GM’s problem not enough spending?
Nirv – actually I dont know what you mean. LOL
Nirv – Yes I understand Capitalize as used by business. What I dont get is how the government thinks they can use the same priciple with tax money. To much spending by the government (both Bush and Obama) is what got us where we are today. How about cutting back on waisted spending and entitalment programs. When on the verge of bankruptcy you cut your overhead, you don’t increase it.

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I’ve currently got 2 liens on my house from a business that went bankrupt several years ago of which I was the owner/GM. The lienholders were owed money to by the company, and not me personally. My house is my primary residence in FL. Is there a way to get rid of these liens so I can sell my house?
I’ve currently got 2 liens on my house from a business that went bankrupt several years ago of which I was the owner/GM. The lienholders were owed money to by the company, and not me personally. My house is my primary residence in FL. Is there a way to get rid of these liens so I can sell my house?

I wanted to add that this business was not run out of my house but in an office park… I did not own the property the business was run out of. I also have no money to pay off the liens, as they are worth far more than my house.

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I bought GM’s retail bond (RGM) at .33 per share. The face value of the bond is per share at expiration. How much would I get for my bonds if GM goes bankrupt? If for instance, if get 10 cents on the dollar, I’ll still come out on top and double my money, right?

How long will it take in bankruptcy court to find out?

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I would like to know how bankruptcy will affect my GM pension.

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First I’d like to know something about Chapter 11 bankruptcy. How does it work? some people say it’s a debt reconstruction, it doesn’t actually mean the company goes bankrupt. But why it’s called "bankruptcy protection", how does it relates to bankruptcy?

Second, why the price of a company’s stock will go up after chapter 11 bankruptcy? Do you think right now is a good time to invest in GM and Six Flags inc? Thank you!!

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How big of a change is there that GM will go under? I’ve only caught bits an pieces from my family.

But if they do, is it likely they will start sending people back to the U.S, from places such as Australia?

Technorati Tags: australia, gm

I bought some shares or GM awhile back and stop paying attention to the market when I started school.

As of now GM has gone bankrupt and they keep sending me a letter but in all honesty I am not sure what i am suppose to do.

It says all transferred and trades must be approved or something,

But any how what do I do,

Better yet what am I allowed to do with bankrupted stock?
I don’t have a broker,

Will it be the same if I do it myself?

Technorati Tags: gm, honesty, paying attention, stock, trades

Why can’t we let it go bankrupt if it’s not making money? Why would you give money to a company that can’t make money back?

Is it possible that at some point a foreign auto company could take over GM with 51% by their decreasing stock price?

Nobody really cares for American cars nowadays except those rental companies, so what’s the point of keeping it?
welll.. with GM gone, they can get jobs at Japanese auto plants based in US.. so they can expand and make even nicer cars for the consumers.. American cars suck anyway.

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How big of a change is there that GM will go under? I’ve only caught bits an pieces from my family.

But if they do, is it likely they will start sending people back to the U.S, from places such as Australia?

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How much do tax payers have to give to bad GM managers and greedy UAW officials and workers? Average wage and benefit cost to a UAW worker is dollars an hour.

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I am not sure why Toyota is handling the foot pedal recall like this.
I’ve had Audi and GM, and it was never about hyping up and advertising the problem exist, never mind apologies from the CEO.

In my area the CEP of Toyota has taken out a full page ad on the NY times asking Toyota owners from 2001 to present to come in for a replacement pedal as well as paying for prime time air on the radio to personally apologize.

Do they want to go bankrupt? This is not how a corporation should handle a mistake?

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It is increasingly likely that GM won’t be able to restructure adequately, and will be forced into bankruptcy. They are making deals with unions and the government, and handing out ownership stakes with (I think) preferred shares. However, there are also millions of common stock shares out there (currently valued around ). Won’t those shares go to {content}.00 if the company enters chapter 11 protection?

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How would you solve our foreign diplomacy problems? Bomb all of our enemies? Do we start nuking Korea, Iran, Iraq, Egypt, Pakistan, Palestine China. Would that solve it? Then what do we do with all those dying people?

How would you solve our financial problems? Let every company now fail, and all the banks fail? GM fail, all housing in foreclosure, and all people on the streets?

How would you solve our health care problems? (One in four bankruptcies is now caused by inability to pay medical costs). Would you just turn away anyone and everyone who is dying if they cannot pay? If they are in a car crash, do we let them die in the wreckage if they cannot show a medical insurance card?

I find lots of you on here are big to criticize, but I find no real alternative solutions.

Take one of these and discuss it.

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US industry GM, Ford, Chrysler, Steel. etc were critical to America surviving and winning WW ll, Korea, etc.
These factories could be bought by Muslims with our money, then the doors shut, workers laid off, the plants dismantled and junked or shipped out of the country. With no defense left for the country, how will we feed all the poor? And stop the barbarians from sacking the country?

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So if i buy a Corvette, and GM goes bust in a few months, and my car is financed by GMAC, does that mean I get the car for free?
If they go bankrupt, they went out of business, therefore have no business in having a creditor come after me, when they themselves are gone, and already have filed the paperwork saying they can’t afford to pay anyone back

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I am looking into buying the new camaro around june,which comes out in Feb. Is it going to be easier for me to buy the car since GM needs the sales.

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In the fall of last year, I thought the economy might be turning around by now. Now Chrysler is going into bankruptcy and GM is following. This means all the dealerships will suffer and the suppliers etc. etc. We have tent cities going up and more people are losing their homes.

Where will all the "blue collar" workers find other employment opportunities? I know that there is a push for alternative energy and infrastructure rebuilding, but I can’t see that this will be enough.

If we can turn it around, what do you think the economy will be like in 10 years. Where will the manufacturing jobs be?

And not just in 10 years, when do you think the economy will turn around?

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Most of Congress has decided that bailing them out is not worthwhile because it won’t work anyway and they’ll just need more money in a matter of months. I agree with this. Some in Congress point out that a car company cannot survive in bankruptcy because need for parts and service are on-going and who the heck is going to buy a car from a bankrupt company (unless the car is sold well undervalue)? I think that’s also correct. So here’s what I think is the only real solution: All 3 should merge and form one company which, of course, will mean lay-offs, but not nearly as bad as the alternative. This single company would still be competing against foreign auto makers, so there are no worries about a monopoly.

Does anyone else agree with me? If not, what do you see as the alternative? Remember — letting these companies go out of business means 2 – 3 million workers losing their jobs.
Please offer the alternative to what I’m suggesting and why yours is a good idea.
Dewey, I agree, but in the meantime these 3 auto makers are on the verge of going out of business. The CEOs of GM and Ford told Congress their companies would be out of business within a year unless they received a bail-out — which they didn’t receive. Don’t even get me started about their corporate jets — what a disgrace!

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I know we’ve had Ford GM and Chrysler for a long time, but what should happen if our car companies go out of Business, and how are we going to manufacture or transportation?

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Won’t the stock you own today go down to zero if GM goes bankrupt?

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If GM go bankrupt what will happen to my stocks and my money that I invested in them?
If my stocks are worth nothing and another company buys GM, will my stock go up?

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I am thinking about buying stock with GM. If they go bankrupt what will happen to my stock and my money that I invested in them?

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If they do go bankrupt, won’t that leave the small suppliers holding the bag for money owed to them by Ford, Chrysler, and GM? How would that impact the economy?

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My dad works for GM and since the news that GM may declare bankruptcy, both of my parents have been worried. What are the chances that GM will go bankrupt?

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