If this happens the whole region where I live in will completely implode. Michigan and Lower Ontario will take extrememly damaging blows. I am so glad that we gave all the money to the bankers.

Re: GM Going Bankrupt

Non-sarcastic, genuinely curious question: Would GM be able to figure out how to become more viable and restructure accordingly without filing for bankruptcy? I'm not familiar with the ins and outs of how the process works. If the answer is no, then would there be any other alternative? They aren't viable as is, so they obviously have to do something.

Re: GM Going Bankrupt

I am really glad that everything Miroslav said regarding the differences between the banking industry and the US automobile industry went in one ear and out the other, in your case. There really is no hope for you is there?

The unions have had a strangle hold on the US auto industry for decades, they need to either be abolished or need some serious re-organization.

Re: GM Going Bankrupt

More and more companies are in trouble everyday.

Apparently no one saved for a rainy day.

Found out today Blockbuster is in danger of maybe filing Chapter 11.

Re: GM Going Bankrupt

[quote=MJDub;732928]Non-sarcastic, genuinely curious question: Would GM be able to figure out how to become more viable and restructure accordingly without filing for bankruptcy? I'm not familiar with the ins and outs of how the process works. If the answer is no, then would there be any other alternative? They aren't viable as is, so they obviously have to do something.[/quote]

Only if someone was willing to lend them the money with really low interest or if someone bought the company along with all its debts...both fairly unlikely.

Re: GM Going Bankrupt

[quote=FM;732947]More and more companies are in trouble everyday.

Apparently no one saved for a rainy day.

Found out today Blockbuster is in danger of maybe filing Chapter 11.[/quote]

Yeah, but Blockbuster having trouble wouldn't have surprised me in any economic climate. The business model for successful video rentals is moving towards on-demand delivery. If I wanted to watch a movie, I would probably do it in this order:

1. Check and see if it is in Netflix's on-demand lineup
2. Check iTunes to see if it is available for rent
3. Check DirecTV do see if it is available on-demand or PPV
4. Check hulu.com

In the unlikely event that it wasn't available through one of those means, I don't know that it would even occur to me to actually go to a Blockbuster or similar store and rent the movie -- I know it hasn't for many years. I'd probably just go without, or, if it was something I really wanted to see, check the torrent sites and wait an hour or two. I know they've moved to something more akin to Netflix as well, but the stores that put Blockbuster on the map are a dying breed, IMO.

Re: GM Going Bankrupt

[quote=runningman;732833]If this happens the whole region where I live in will completely implode. Michigan and Lower Ontario will take extrememly damaging blows. I am so glad that we gave all the money to the bankers.[/quote] Didn't you just get done recently saying that we should let things fail?

And btw...we also gave a shitload of taxpayers' money to GM. And they'll probably get more, too.

Re: GM Going Bankrupt

I am all for letting things fail don't get me wrong. But with the bank robbery that is going on with the banks I feel it is an open check book.

Either let them all fail and go bankrupt or bail them out.