Comments on: GMAC: Free At Last!

By: cleek

cleek — Mon, 10 Nov 2008 22:22:35 +0000

autonut :
November 10th, 2008 at 3:55 pm

Well, it does not matter what Wagoner done. I believe that there are plenty execs who crossed the proverbial line. FBI already stated that there are no plans to prosecute anyone due to high cost and low probability of conviction. In addition, they simply don’t have resource to do that.
It cost less and brings more glamor to chase obese, aged Italian dons for breaking toes of gambling degenerates, then ridding financial and corporate system from billion dollar felons.

Reduce that to a bumper sticker and you’ll sell millions.

By: autonut

autonut — Mon, 10 Nov 2008 19:55:33 +0000

By: ihatetrees

ihatetrees — Mon, 10 Nov 2008 19:30:10 +0000

With GM seemingly headed towards all three at once, its once-captive credit arm, GMAC, swears it will no longer play Tina to the General’s Ike.

Prose like that keeps me coming back to TTAC. Lack of such reporting is why I rarely read newspapers anymore.

By: Kevin

Kevin — Mon, 10 Nov 2008 18:44:27 +0000

“But at what point do endlessly optimistic comments (e.g., No C11. Not now. Not ever. Not even on the table for discussion!) in the face of what appears to be solid and growing financial evidence to the contrary, constitute criminal acts?”

Ask Bernie Ebbers!

By: Vetteman

Vetteman — Mon, 10 Nov 2008 18:36:00 +0000

GMAC doesn’t have to eliminate floorplan to tank the weak dealers they can continue to do what they have done to many GM dealers I know in the San Francisco metro area and that is require large paydowns of 2007 and old age 2008 models. A 40 year chevy dealer I know just threw in the towel after recieving a letter requireing a 800 thousand plus check due november first to pay down old age units. This was the last straw for this store.

By: wytshus

wytshus — Mon, 10 Nov 2008 18:25:09 +0000

To quote Jim Carey in “Liar Liar”

“Hit me again Ike! And put some STANK on it!!!”

By: TaurusGT500

TaurusGT500 — Mon, 10 Nov 2008 18:14:44 +0000

….speaking of “ending up in prison.”

I realize that one of the many hats a CEO wears is that of head cheerleader and encourager-extraordinaire. Got it.

But at what point do endlessly optimistic comments (e.g., No C11. Not now. Not ever. Not even on the table for discussion!) in the face of what appears to be solid and growing financial evidence to the contrary, constitute criminal acts?

In other words, are there any experts on the site that have a feel for what Wagoner has to do to “cross the line”? Does he have to get caught shorting his own stock?