Thread: The fat lady is just clearing her throat now...

Originally Posted by deathgodusmc

Last i knew michigan was far from saved. They could have filed other bankruptcy chapters instead of a chapter 7. You know like they were already planning to do before the bailout came through. It wouldn't matter if someone stepped in at the worst of the recession. They could easily have started a year or two later or even bought gm or chrysler out just before they slid down the drain. Kind of like they did to several other companies in the past.

All the bailout did was reinforce shitty management. Fuck it up no problem we'll keep you in business.

Oh, we're far from saved yet, but we would not have survived the failure of GM and Chrysler. There would be just no way. And no, they weren't planning anything but Chapter 7. That was all they could have done without the bailout. The bailout allowed them to file Chapter 11 and reorganize. They've been successful, the bailout worked, and it was a worthy investment in my view. Support for the bailout here was and is very high and is precisely why Romney has no chance in hell here.

Originally Posted by MaFioSo

That's what I thought, if a Corporation is going bankrupt, wouldn't somebody else step in and buy them out (at a very good price)? Or another company come in and take their share of the market?

Yep. Evolution, or "survival of the fittest", works in business too.

Originally Posted by MaFioSo

I disagree, it doesn't necessarily mean liquidation. I can point to the Dodgers franchise (my favorite team) who was recently going bankrupt. The Johnson group, made up of Magic Johnson and a bunch of other wealthy investors stepped in and bought the team for 2 billion. GM wouldn't have closed down or stopped production, investors or most likely a group of investors would have came in and purchased the company at a discount.

They couldn't get a financial guarantee to file Chapter 11 without the federal government stepping in. That was the only was it could have happened. The only other alternative was Chapter 7.

Originally Posted by Fovezer

Oh, we're far from saved yet, but we would not have survived the failure of GM and Chrysler. There would be just no way. And no, they weren't planning anything but Chapter 7. That was all they could have done without the bailout. The bailout allowed them to file Chapter 11 and reorganize. They've been successful, the bailout worked, and it was a worthy investment in my view. Support for the bailout here was and is very high and is precisely why Romney has no chance in hell here.

Bullshit. They were already planning to file chapter 11. In fact they filed prior to getting the bailout.

Originally Posted by deathgodusmc

Thats the best time to buy a company like gm. You would already have the buildings and the tools in place and save a shit load of money.

Yea and you don´t have to pay for "goodwill" ...only for tangible assets which is what companies should solely be valued by anyway.

Should have let the bitch fail. Then my car would be worth more.

We need new minds opening companies like this anyway. This was the best opportunity for that to happen. Unlike the past where everyone with a good idea got hush money and the product disappeared.

GM chief: "We got a second chance" - CBS News

Lol... read this article. I like the part where the guys says...

Originally Posted by Dan Akersen

"It would have been in bankruptcy for years and I think you could have written off this company, this industry and this country".

I didn't realize GM was critical to the survival of all cars manufacturers as well as the USA.

Originally Posted by Xavsnipe

Yea and you don´t have to pay for "goodwill" ...only for tangible assets which is what companies should solely be valued by anyway.

Yeah my heart bleeds for a company that can file chapter 11 with 82 billion in assets. LOL

Originally Posted by Ranger10

GM chief: "We got a second chance" - CBS News

Lol... read this article. I like the part where the guys says...



I didn't realize GM was critical to the survival of all cars manufacturers as well as the USA.

Oh its just sad how people fell right in line with to big to fail shit.

"A million jobs were saved, the industrial infrastructure and the manufacturing base of America in large measure is still intact. In fact it's prospering. All three of the big automakers are now profitable for the first time since maybe the '60s or '70s."


ROFL this guys an idiot. I just wonder how many people fell for that shit as well.