[Newsbot]

Title: Report: GM considering Chapter 11 filing
Category: Business
Posted By: mtbr
Date: 2009-02-14 12:57:09
Canadian

[mtbr]

GM, UAW talks break off; Chrysler talks stall

http://www.financialpost.com/news/story.html?id=1291437

[mtbr]

death is knocking on the door. A slash and burn sale is what it needs.

[Proculation]

Well, it was only a matter of time.

And we (north americans) dump millions$ into it. Great.

[stemmer]

"That which doesn't kill you only makes you stronger...."

Now it's time to take a stand against imports to protect our industries...

[mtbr]

stemmer stemmer:

"That which doesn't kill you only makes you stronger...."

Now it's time to take a stand against imports to protect our industries...

The "imports" will be buying what's left of GM and Chrysler, leaving the union to wallow in the dust.

[stemmer]

I don't think so... For one thing the US military would not approve of it.. The Big Three are a matter of national security....

[mtbr]

stemmer stemmer:

I don't think so... For one thing the US military would not approve of it.. The Big Three are a matter of national security....

[poquas]

stemmer stemmer:

I don't think so... For one thing the US military would not approve of it.. The Big Three are a matter of national security....

Another "Stemmerism" for the books. The Japanese and European manufacturers will probably do a better job than the big three did.

[martin14]

gotta love the way you guys ride stemmer all the time

I think he makes some valid points regarding the big picture
of what may happen to manufacturing in North America if we are not careful.


Anyway, Chapter 11 doesnt mean the company is closing.

It is a way for the company to restructure some things,
to assess debt in a different way, and stretch out the repayment of it.

Granted, not the best news out of GM this week.

[stemmer]

poquas poquas:

stemmer stemmer:

I don't think so... For one thing the US military would not approve of it.. The Big Three are a matter of national security....

Another "Stemmerism" for the books. The Japanese and European manufacturers will probably do a better job than the big three did.

That may help Japan and EU but how will it help North America? We need to have vibrant and profitable North American manufacturing companies, employing North Americans...

IF we need our manufacturing sector in times of a crisis do you really believe foreign corporations will step up to the bat like the Big Three have done for us in the past...?????

Once we lose the Big Three, Japan and Europe will move their few plants out of North America... Besides Japan and EU will have their own problems once China's Corporatism full embraces auto manufacturing... Learn to say Chery but say it in Mandarin o Cantonese...

[travior]

Proculation Proculation:

Well, it was only a matter of time.

And we (north americans) dump Billions$ into it. Great.

Fixed that lil' typo there for ya!

Should have let them file months ago. The outcome would have been the same: Freed from Union contracts and able to renegotiate, have the fat trimmed from the management, unloading antiquated/obsolete factories for designs no longer desired, retooling for those that ARE desired, a leaner, stronger company after emerging from Chapter 11.

The only difference would be the billions less that our children and grandchildren will be paying in taxes to cover the cost of this mindless loan.

About as intelligent to giving a wino sitting on the sidewalk outside the local liquor board store $100 because he promises to act responsibly from now on.