GM’s not lasting until January. They’ll be gone by Festivus if nothing is done. Which means the Republicans will also have to get involved somehow.

@Klutzz:
you can still buy nearly all the parts for a 1955 Chevy over 50 years after manufacture. I wouldn’t be too concerned about servicing something built in 2008.

A 1955 Chevy isn’t made out of cheap plastic and electronic bits.

All that we (and GM’s board) can do is sit back and watch the disaster unfold.

If GM were applying for a car loan, GMAC would definitely turn them down… Probably while laughing them out of the building…

More discounts yay!

The economy is just another word for the environment in which business is done, and it’s the job of executives to lead the company to make money in the environment in which it does business.

If all I needed to do was to throw up my hands and point to some bad external bully (”the economy”) for blame, then I too could be the executive of any company on earth.

Where in the constitution is the right of GM, or any business, to get money no matter what happens, economy or no economy?

So, from this it seems Toyota made 10 times more profit in China than GM.

Memo to Self. Buy Charger Hemi R/T and mothball.

Everyone should register and be heard!!!

I think plenty of buns are already in the fire.

Problem is, I’m standing a little too close for comfort.

I think it’s safe to say we can kiss housing values in Detroit goodbye for the next 5+ years.

“Last one to leave Michigan, please turn out the lights.”

Its 1980 all over again.

I forgot about that – of course with the way FoMoCo’s stock tanked, you couldn’t expect him to live off just that, right? ;-)

Bill Ford had stopped taking a salary as Chairman/CEO. Incidentally, Jobs copied that one from Iaccoca.

Yes, well, not exactly… check out this link.

I watched my father work 18 hours a day 7 days a week and never take a vacation. My fater never failed to get up never complained. never had health insurance or paid vacation.

When I heard that the US workers had to compete against these folks for market share. I new they were on the wrong playing field.

My father laughted at the ignorance of the US to think that the could compete against voluntary slave labor that was happy to get a meal.

I just read that “sources close to the issue” put Chrysler as running out of money in mid-2009, and they’re still saying that only a merger or a miracle will save them.

If Chrysler is still a going concern when GM files for bankruptcy, I’ll personally consider that a win for Chrysler, regardless of what happens to GM after that.

@indi500fan :

you can still buy nearly all the parts for a 1955 Chevy over 50 years after manufacture. I wouldn’t be too concerned about servicing something built in 2008.

Yeah, except those cars are desirable, collectible and simple to reproduce. No one is going to be collecting a Yukon Denali 40 years from now

GM made it through their crushing production costs, depreciation write-offs and legacy expenses through volume. With the tightening of credit and drastic decline in sales(especially of their primary source of “profit” in pickups and SUVs), the current volume doesn’t generate sufficent revenue to cover expenses.