GM at all time low

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Cucumber
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GM at all time low

Postby Cucumber » Tue Nov 11, 2008 3:56 am

:(

Think they will sink or swim? If they don't get a bailout I think there's no way they can make it.

I know they now cut healtcare to retirees which I think is pretty messed up. :mad: How can you tell someone after they retired they won't get healthcare when you told them their whole career they would? Between that and sending jobs to Mexico they aren't pursuing too many Americans to bail them out.
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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Nov 11, 2008 2:04 pm

I'm sure they will get their bailout and continue to stay in business. But my concern would be how can GM ever dig themselves out of being well over a hundred billion in debt already and then even more if they took another bailout loan. I don't see how it's ever possible for them to get out of this mess. That's why although I don't want them to go under I wonder if bankruptcy might be the best thing so they can start fresh.
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Postby Multi-Purpose » Tue Nov 11, 2008 5:34 pm

They could always become a bank like Amex did yesterday so they can qualify for the lowest interest rates.

[shrugs] Why not give it a try?

p.s. If you have a GM credit card now would probably be the time to cash out your rewards!
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
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Postby Floppster » Tue Nov 11, 2008 9:03 pm

GM Bank is already doing quite good. GM Cars just missed stepping into the more efficient cars at the right time. Anyway, we all will see over the next 5 years car manufacturers going out of business. 40%-50% off all dealerships will go bye bye. Will be hard for the automobile industry however if one goes down another one comes up.
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KC95
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Postby KC95 » Tue Nov 11, 2008 10:48 pm

we kind of did it to ourselves. the last 20 years it's been "uncool" to drive american cars so we have bought them from the japanese and koreans. then gm had to go overseas just to sell cars because no one here wanted them. kind of sad when you think about it.

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Postby goober » Thu Nov 13, 2008 12:30 am

even if you are against bailing them out you need to remember it is a lot more than gm. there are the car dealers, the plastic manufacturers, the electronics manufacturers and on and on and on. there are so many jobs connected to the auto industry it is not even funny.

i think the best solution would be for gm and ford to merge. chrysler is a crappy brand except for dodge so no one really care about them. but i think gm and ford should merge and they should cut out all the other brands like mercury, buick, pontiac. they can stick to the basics they don't need to make the same car for each brand. that's one way they can cut costs.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Nov 13, 2008 1:36 am

Keep these:

GM
Chevy
Cadillac
Ford
Lincoln

Then get rid of all the others makes they have. Americans don't have a particularly favorable opinion of makes like Mercury and Buick so there's no point in keeping them around. That would be a smart consolidation move and cost cutting measure.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Postby Multi-Purpose » Sat Nov 15, 2008 7:53 pm

It sounds like next week we will find out more whether there will be a bailout or not. I think there we get help. There's no reason why they shouldn't as long as the government is helping out our the financial companies.
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.

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Postby KC95 » Mon Nov 17, 2008 2:26 am

yep those brands should be worth something. if they do a bankruptcy they would still stay around right and re-work the terms of their debt?

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Postby Cucumber » Wed Nov 19, 2008 1:39 am

Can someone tell me how these numbers are correct for GM?!?!!?

Total Cash: 15.90B
Total Cash Per Share: 26.043
Total Debt: 45.16B

Not that this is any small number but how can they only have 45 bil in debt when they burn through that much like every year. Am I missing something here???
OBAMA
Stop talking crap about him!



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