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(AP)   General Motors is almost out of cash and may be forced to give Hummers for food   (ap.google.com) divider line
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1147 clicks; posted to Business » on 07 Nov 2008 at 5:01 PM (10 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



62 Comments     (+0 »)
 


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2008-11-07 02:29:52 PM  
Well at least they "feel safer" while driving over that cliff.
 
2008-11-07 02:46:10 PM  
Headline: Flight, this is headline. Are we go for greenlight?

Flight: Headline, this is flight. Set your boosters to max burn and hold on

Headline: Wahooo!

Flight: The headline is WIN... I repeat... THE HEADLINE IS WIN.
 
2008-11-07 03:02:25 PM  
+1
 
2008-11-07 03:05:59 PM  
At the local Chevy dealer they're apparently giving away an Aveo if you buy a particular Tahoe.
 
2008-11-07 03:31:52 PM  
Rest assured this story will leave a bad taste in the shareholder's mouth.

/+1
 
2008-11-07 04:17:28 PM  
I'll bet the senior corporate officers still get a nice bonus check this year.
 
2008-11-07 05:06:59 PM  
Don't worry GM... there's plenty of taxpayer money to go around.
 
2008-11-07 05:09:48 PM  

mizchief: So go the fark out of business. Your cars suck. Let the workers get jobs at one of the other 5 decent car companies that make cars people actually want to drive.


Do you have any farking idea how many jobs are connected to the US auto industry? If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.
 
2008-11-07 05:14:27 PM  
I bet GM going under moves the unemployment rate 2/10 of a percent alone. They're the AIG of the automotive world, GM going under sets off a cascade of epic fail.
 
2008-11-07 05:15:16 PM  
img177.imageshack.usView Full Size
 
2008-11-07 05:18:19 PM  
what would happen if you took a hummer for a test drive with a female salesperson...hmmmmm
 
2008-11-07 05:18:20 PM  
Look at the history of Great Britain's auto makers. They made crappy cars that people got sick of, too. Then they went out of business. I predict that WHEN history repeats itself, the brands of GM will be owned by Indian or Chinese companies. But more likely, they won't exist at all.
 
2008-11-07 05:20:43 PM  

mizchief: So go the fark out of business. Your cars suck. Let the workers get jobs at one of the other 5 decent car companies that make cars people actually want to drive.


I agree in principle with the belief that any one business should never be artificially sustained unless they are the sole source for a necessity of life.
 
2008-11-07 05:23:29 PM  

mizchief: So go the fark out of business. Your cars suck. Let the workers get jobs at one of the other 5 decent car companies that make cars people actually want to drive.


I would just like to add to this statement that after GM is liquidated, the money the government gave them should be redistributed throughout the land. It should be spent on things we actually need.
 
2008-11-07 05:24:10 PM  
But, but, but Camaro! ::snickers::
 
2008-11-07 05:26:13 PM  
Wouldn't infusing taxpayer money be delaying the inevitable?
 
2008-11-07 05:27:24 PM  
Great headline.
 
2008-11-07 05:28:27 PM  
Damn, I'm waiting for a refund check for $1,200 worth of engine work that my 2006 Silverado needed, that GM is reimbursing me for. I hope that check comes while they've still got enough in the bank to cover it.

/Distributor gear teeth completely wore off with less than 60,000 highway miles on the truck
 
2008-11-07 05:28:36 PM  
MIguy: If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.

What's your solution? Soviet-style factories where people are paid to do nothing because no one wants to buy the Belarus tractors they're building? but the Party had to give them a job, anyway?
 
2008-11-07 05:37:06 PM  

MIguy: Do you have any farking idea how many jobs are connected to the US auto industry? If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.


You can't force people to buy shiat.
 
2008-11-07 05:37:10 PM  

MIguy: mizchief: So go the fark out of business. Your cars suck. Let the workers get jobs at one of the other 5 decent car companies that make cars people actually want to drive.

Do you have any farking idea how many jobs are connected to the US auto industry? If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.


I did some number crunching a couple months ago, and it turned out that around 4% of the entire US workforce is still tied up in the manufacture and sales of new cars. 1 out of every 25 jobs is directly tied to either building parts for, assembling, or selling new cars.
 
2008-11-07 05:40:35 PM  

MIguy: We're talking about millions of jobs gone.


GM sells how many cars per year? (Last year was 9 million and change, just a sliver behind the new leader Toyota) And what you're saying is that the world (and in particular, the US) would simply "do without" those 9 million cars next year? Or do you think either one of the remaining companies or some new upstart might start making cars to fill that void? And do you think they will hire high school students or someone with 20 years on GMs line?
 
2008-11-07 05:40:40 PM  
WE MUST SAVE GM!

/or must we?
 
2008-11-07 05:44:28 PM  

MIguy: Do you have any farking idea how many jobs are connected to the US auto industry? If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.


The federal government should nationalize these failing companies and combine them into one entity to for maximum efficiency.

We'll call it American Leyland
 
2008-11-07 05:47:56 PM  

chasd00: I bet GM going under moves the unemployment rate 2/10 of a percent alone. They're the AIG of the automotive world, GM going under sets off a cascade of epic fail.


Banking =! Automotive industry.

Just because GM fails doesn't mean everyone else will.
 
2008-11-07 05:53:29 PM  
Come on, guys. The Domino Effect worked in Vietnam and is working in Iraq. This is completely real and if GM is gone, the world is over.
 
2008-11-07 05:55:03 PM  
GoodyearPimp: And do you think they will hire high school students or someone with 20 years on GMs line?

Not every person laid off in Michigan will relocate to Alabama to work at the Toyota plant.
 
2008-11-07 05:55:56 PM  

MIguy: mizchief: So go the fark out of business. Your cars suck. Let the workers get jobs at one of the other 5 decent car companies that make cars people actually want to drive.

Do you have any farking idea how many jobs are connected to the US auto industry? If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.


Its both sad and funny that our economy is based on unicorns and money that really isn't there and our workforce is largely made up of people that can't do anything else other than work at an auto manufacturer.
 
2008-11-07 05:56:24 PM  

Drakin020: chasd00: I bet GM going under moves the unemployment rate 2/10 of a percent alone. They're the AIG of the automotive world, GM going under sets off a cascade of epic fail.

Banking =! Automotive industry.

Just because GM fails doesn't mean everyone else will.


think of the nice long list of suppliers that have no where to sell their parts.
 
2008-11-07 06:00:21 PM  
chasd00: think of the nice long list of suppliers that have no where to sell their parts.

They can sell them to Honda, Toyota or Mercedes, no? A gas tank, is a gas tank.

(Yes I know the shape and sizes vary, but they'll adapt.)
 
2008-11-07 06:30:56 PM  

SoCalChris: Damn, I'm waiting for a refund check for $1,200 worth of engine work that my 2006 Silverado needed, that GM is reimbursing me for. I hope that check comes while they've still got enough in the bank to cover it.

/Distributor gear teeth completely wore off with less than 60,000 highway miles on the truck


I know you were (sorta) joking. But, a serious recall any of the Detroit three could put them under right now.
 
2008-11-07 06:38:27 PM  
Flab:

Not every person laid off in Michigan will relocate to Alabama to work at the Toyota plant.

They should if they want a football team.
 
2008-11-07 06:39:19 PM  
If ever a company deserved to go out of business.....
 
2008-11-07 06:46:22 PM  

Flab: GoodyearPimp: And do you think they will hire high school students or someone with 20 years on GMs line?

Not every person laid off in Michigan will relocate to Alabama to work at the Toyota plant.


I know it sucks, but sometimes relocating to a better job market is what you gotta do. I did it myself four years ago. If there isn't any work where you are, go to where the work is.
 
2008-11-07 06:59:00 PM  
That was farking hilarious.

+1 subby.
 
2008-11-07 06:59:11 PM  
wwnorton.comView Full Size


1953: What's good for GM is good for America.
1989: Pets or Meat.
2008: Hey! How come AIG got bailed out!
 
2008-11-07 07:07:58 PM  

Flab: MIguy: If the Big 3 fail, so do those other companies. We're talking about millions of jobs gone.

What's your solution? Soviet-style factories where people are paid to do nothing because no one wants to buy the Belarus tractors they're building? but the Party had to give them a job, anyway?


Let the companies shrink slowly so job losses can happen via attrition or layoffs small enough for the communities to absorb them and get the unemployed into new jobs there or elsewhere, instead of letting the companies crash and throw hundreds of thousands of people out of work simultaneously?
 
2008-11-07 07:07:58 PM  
i291.photobucket.comView Full Size
 
2008-11-07 07:20:25 PM  
rekoil:

That's a good idea in principle, but what about the people who cannot afford to move to where the jobs are because they live where the jobs were?
 
2008-11-07 07:29:03 PM  

RoyBatty: 1953: What's good for GM is good for America.
1989: Pets or Meat.
2008: Hey! How come AIG got bailed out!


What's sad is Michael Moore was warning of people about this 20 years ago, and only now are people acting shocked.
 
2008-11-07 07:35:43 PM  
Are the geniuses who killed the electric car to tool up for the Hummer still on the board? No money until they prove the people who lack foresight are gone.

/no golden parachutes on the way out the door either
 
2008-11-07 07:43:24 PM  
gm logic is old school.........wise up Rick!

unless you want to follow in 3rd place.....behind toy and honda....schmuck!
 
2008-11-07 07:49:14 PM  
Thanks for the Meme-ries:

I'm just gonna go find a cash machine.
 
2008-11-07 07:51:56 PM  
Ok if you're losing $1,000 per second you're doing something wrong.

/well, ok $887 but who's counting.
 
2008-11-07 08:02:18 PM  
I say let them fail. With that gone it means less cars on the road which in turns means less demand for gas and prices will continue to fall at a nice pace. Hopefully when GM fails gas prices will fall below the 99 cent mark.

/Just saying you gotta look at the bright side of things.
 
2008-11-07 08:06:50 PM  
um....er uh..........600,000 people rely on GM domestic.

don't hate so much.....
 
2008-11-07 08:09:34 PM  
GM just needs to call up Toyota and go "We're cheap and easy".
 
2008-11-07 08:40:34 PM  
FTA: General Motors Corp. says it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009.

If GM is burning through money at that rate, what good does a billion dollar bailout accomplish other than forestalling the inevitable? It's not like GM is going to magically come up with something I'll want to buy within a year or two.
 
2008-11-07 09:09:29 PM  

SoCalChris: Damn, I'm waiting for a refund check for $1,200 worth of engine work that my 2006 Silverado needed, that GM is reimbursing me for. I hope that check comes while they've still got enough in the bank to cover it.

/Distributor gear teeth completely wore off with less than 60,000 highway miles on the truck


Serves you right for not buying a TOYOTA.
 
2008-11-07 10:38:57 PM  

Flab: Not every person laid off in Michigan will relocate to Alabama to work at the Toyota plant.


Not everyone has an IQ over 100. What's your point? It shouldn't be the country's priority to throw billions at the problem if all these supposed 'lost jobs' have a bunch of ridiculous conditions attached.
 
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