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:willy: According to the news it is only a matter of time before our friends at GM declare bankrupcy. Any comments from the peanut gallery as to how this might affect the Solstice?

For example, in bankrupcy GM might be forgiven for the zillions of dollars they owe suppliers and get a fresh start. On the other hand, they might end up in the hands of Kirk and his gang of investors, or they might break it up and sell it off ... just a few possible scenarios.

What thinketh ye 'ol noble forum members of copious opinons?
:grouphug:
 

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Atldriver said:
:willy: According to the news it is only a matter of time before our friends at GM declare bankrupcy. Any comments from the peanut gallery as to how this might affect the Solstice?

For example, in bankrupcy GM might be forgiven for the zillions of dollars they owe suppliers and get a fresh start. On the other hand, they might end up in the hands of Kirk and his gang of investors, or they might break it up and sell it off ... just a few possible scenarios.

What thinketh ye 'ol noble forum members of copious opinons?
:grouphug:

What manner of bankrupy are they filing?

Suppose it will be like the airlines? Still around (making large profits - just cutting wages, benefits, jobs....etc) but getting gov' money to stay in business?

Too large of a corporation to let go "out of business"
 

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Hate to tell you they will stay together and keep making every thing the same way. They will just have the government behind them helping foot the bill. They will end up making money off being bankrupt. They will not have to pay pensions the government will.
 

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I was considering buying stock in GM. Its at a 20 year low and you know it will be around. But if they declare bankruptcy, don't shareholders get screwed too?
 

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They will not file bankruptcy for a while, they will wait and see how Delphi is coming out. The stock is so low, due to the threat of Delphi striking.
 

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silversolstice said:
I was considering buying stock in GM. Its at a 20 year low and you know it will be around. But if they declare bankruptcy, don't shareholders get screwed too?
Usually they do, but at these prices you're not out that much cash.
 

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g0t_w00t said:
Hate to tell you they will stay together and keep making every thing the same way. They will just have the government behind them helping foot the bill. They will end up making money off being bankrupt. They will not have to pay pensions the government will.
Apparently that's the American way! The government pays with our tax dollars, of coarse, so who would really pays? There ot'a be a law.........
 

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GM stock rose today after an internal memo from CEO indicating that GM would not be filing for bankrupcy.

"I heard it on the radio."

--Chemist
 

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silversolstice said:
I was considering buying stock in GM. Its at a 20 year low and you know it will be around. But if they declare bankruptcy, don't shareholders get screwed too?
Buy post filing, just look at Martha's stock since her debackle.
 

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Very, very very unlikely that GM would consider bankruptcy anytime in the near future.
 

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Fortimir said:
The Government really likes having GM around... we'll just leave it at that.
:agree: Bankruptcy for the big boys is not the same as for you and me. ;)
 

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g0t_w00t said:
Hate to tell you they will stay together and keep making every thing the same way. They will just have the government behind them helping foot the bill. They will end up making money off being bankrupt. They will not have to pay pensions the government will.

A buddy of mine told me that there is talk of freezing the pensions because there are too many retires per worker and the Government fund that insures the pensions is in debt 23 billion.
 

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silversolstice said:
I was considering buying stock in GM. Its at a 20 year low and you know it will be around. But if they declare bankruptcy, don't shareholders get screwed too?
It doesn't have to mean that, look at K Mart. They filed then later bought out Sears.
The goverment won't pay the pensions, Like Iwant1 said they will freeze them first. They are not just going to not pay the pensions.
 

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GEEEZES! Mr. Chrysler did the same Damn thing back in da late 70s.

That IA-COCA-COLA guy (well whatever) went cryin like a little school girl to them Washington Beaurocraps for a handout.

Like a Good Groinocologist, Mr. Iacocacola, had the right Qualifidations, And went right to the meat of things. If you know what I mean!. :devil:

He showed em that the Good Old U.S.of A. needed Mr. Chrysler, and the jobs that went with him.

Givin another chance, with a Big Government loan, He would self lubricate his Company back to posterity.

He must of hit a rectal nerve, Cause them Beaurocraps gave him the moola.

What happened next "ipso fatso" Was a Chrysler Company disperate to make a final comeback. And that they did.! So there meathead!

Once a company goes into da Terlit, They had better come out smellin like a rose garden.

This just shows if you got the right entramanore, working for yous,
And he can put on a good Menstrual Show, He can save a failing Company from that there Bankripsky.

So whats good for Mr. Chrysler is good for Mr. GM.

Everybodys got to just relax, Mr GM will not be filling out his Last Will and Tenticle anytime soon.

NOW STIFILE! :cuss:

Just cause Mr. GM got rid of the best car they had, The Lasalle! dont mean they will finixiate anytime soon!
 

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Atldriver said:
:willy: According to the news it is only a matter of time before our friends at GM declare bankrupcy. Any comments from the peanut gallery as to how this might affect the Solstice?
New reports always over blow things. GM came out and said bankrupcy ain't happening. Even if it did it's not the end of the world, most of time it's financial reorganization and company comes out stronger in long-run.

Have to love the Archie Bunker posts :lol:
 

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AJB said:
Buy post filing, just look at Martha's stock since her debackle.
And K-Mart, itself. If you owned before bankruptcy you had a tax writeoff. If you purchased the day they reorganized and issued new stock you are now a gazillionaire.
 

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MITCH said:
GEEEZES! Mr. Chrysler did the same Damn thing back in da late 70s.

That IA-COCA-COLA guy (well whatever) went cryin like a little school girl to them Washington Beaurocraps for a handout.

Like a Good Groinocologist, Mr. Iacocacola, had the right Qualifidations, And went right to the meat of things. If you know what I mean!. :devil:

He showed em that the Good Old U.S.of A. needed Mr. Chrysler, and the jobs that went with him.

Givin another chance, with a Big Government loan, He would self lubricate his Company back to posterity.

He must of hit a rectal nerve, Cause them Beaurocraps gave him the moola.

What happened next "ipso fatso" Was a Chrysler Company disperate to make a final comeback. And that they did.! So there meathead!

Once a company goes into da Terlit, They had better come out smellin like a rose garden.

This just shows if you got the right entramanore, working for yous,
And he can put on a good Menstrual Show, He can save a failing Company from that there Bankripsky.

So whats good for Mr. Chrysler is good for Mr. GM.

Everybodys got to just relax, Mr GM will not be filling out his Last Will and Tenticle anytime soon.

NOW STIFILE! :cuss:

Just cause Mr. GM got rid of the best car they had, The Lasalle! dont mean they will finixiate anytime soon!
Lee did not go "crying" to Washington. He just went with a plan that scared the living daylights out of Congress. All Washington did was guarantee private funding, No tax dollars were handed over. in fact Lee did such a bangup job of turning Chryco around that he paid off every last guaranteed loan way early and in full.
 

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If any one would like a good read on the subject of pensions in general, register at the New York Times web site (or maybe google around to see if you can find a copy) and read a copy of Roger Lowenstein's October 30th article called "The End of Pensions". It will be a 12 page print out, but reads quick.
 
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