Breaking News: US Government to own 60% of GM, Canada 12%. Details inside.

reply to post by Soldat401




I know I shouldn't find this funny, but now not only are we owners of a car company, but we just sunk our money into a car company that is destined for failure.

I think it will get to the point to where the only people you will see driving new GM cars will be people that have actually money out of their pocket that they willing invested into the company.

I know a lot of people that will not buy a GM product after this deal. Still though the Bankruptcy judge has to approve all this. So we might get out of this by the thin of our skin. I doubt it though they are filing in NY.

reply to post by TwiTcHomatic


I completely agree. Years and years ago, my parents had to declare bankruptcy. Even though they hadn't created the problem, they still had to fight tooth and nail for anything. I'm really surprised that we didn't end up homeless. They fought through it though, and I think they are still dealing with it.

They had no one to bail them out. They both had to work two jobs and try to take care of two children, all the while living in near poverty and unable to receive assistance of any kind because "they made too much money."

If only the government was run like a household with an actual budget. They'd learn really quickly that you can't spend more than what you have, and if you do, you are in for a rude awakening.

I feel terrible that many people will loose everything because of the mistakes of a few idiots at the top. But I still am not ok with giving companies like GM money when the company should have tanked a long time ago.

Maybe I should just quit paying my bills. The government doesn't..so why should I? I'll just pay for the necessities and let all of my other bills go to the wayside.

Maybe then I'll get a bailout for ignorance.

Honestly I don't know why we even pay our bills.

We could collapse the entire economy if we stopped paying up...or if we stopped paying taxes altogether.

People don't realize the power they have...they just don't use it...and we are too busy arguing to do it in unison.

I'll be heading to Detroit tomorrow to get my free vehicle...

Now it is time to market a non-fossil fuel burning vehicle available for the public. We won't see that for a while though.

I'm really getting tired of these bail outs. I think the gov't should bail me out of my debt... I mean come on I'm bankrupt!!!!

Originally posted by betosuave
I can't believe how ridiculous our government is becoming.......Well, on second thought I can. DAS AUTO!

Will it be unpatriotic if I keep driving VW?

I'm too poor to go bankrupt.

Personally I blame the union workers for not being willing to work out a better deal with the company. All the union workers care about is having a big check and a great retirement fund.

Now it is time to market a non-fossil fuel burning vehicle available for the public. We won't see that for a while though.

It depends. How does 2011 sound? www.teslamotors.com... I'm really pulling for these guys.

[edit on 31-5-2009 by Totakeke]

Sounds Awesome, I haven't heard of it yet. I will check out the site now.

if my tax dollars are paying for 60% of gm.....Why in heck cant i get a loan for a car lol

it's my tax dollars give me a car lol

crap obama is crippling this country folk's...

You can not bail out company's with tax dollar's .

Let them fail just the same as banks...
Other better company's with better management will pop up in there place.

and in turn give us a better economic system in a few year's.

all this does is buy us 3 or 4 years ..just enough to get obama elected again....cant you see it folk's?

[edit on 31-5-2009 by TheAmused]

Originally posted by TwiTcHomatic
What happened to the days of when a company mismanaged themselves and went bankrupt.. they went bankrupt.

I never intended to get into the auto manufacturing business.... I suppose we all are now, since its all done with taxpayer money.

So, when do I get my free car?

That's what I was wondering.

It costs GM including salaries 3400 bucks to produce a new car/truck (according to a CNN report a couple months ago) so are these the prices we can then expect to see?

Of course not they will do exactly what the original dealers were doing and then take the exra profit and hopefully work on paying off debts but I doubt it.

Sounds Awesome, I haven't heard of it yet. I will check out the site now.

Actually, they have a car now. It's a little expensive and less efficient than the 2011 car, but it's definitely on the market.

reply to post by Dark Jester


It's easy to blame the unions, and they certainly did play a part in this, but the big picture is that GM hasn't produced a car worth buying in a long time. Foreign auto companies have consistently outclassed GM in almost all areas.

The saying "They don't make em' like they used to" could easily be GM's slogan.

I will buy my teslamobile just in time for 2012.

reply to post by Soldat401


Maybe it means that the "Corporation of the United States" is being embargoed??

www.serendipity.li...

"...the Act of 1871 was passed.

In essence, this Act formed the corporation known as THE UNITED STATES. Note the capitalization, because it is important. This corporation, owned by foreign interests, moved right in and shoved the original "organic" version of the Constitution into a dusty corner. With the "Act of 1871," our Constitution was defaced in the sense that the title was block-capitalized and the word "for" was changed to the word "of" in the title. The original Constitution drafted by the Founding Fathers, was written in this manner:

"The Constitution for the united states of America".

The altered version reads: "THE CONSTITUTION OF THE UNITED STATES OF AMERICA". It is the corporate constitution. It is NOT the same document you might think it is. The corporate constitution operates in an economic capacity and has been used to fool the People into thinking it is the same parchment that governs the Republic. It absolutely is not."

End of Quote.

So is our country changing course?? Who stands to benefit?? Who stands to loose??

Is the Corporate US Government the final domino to fall??

Will disclosure be part of the package??

Hopefully I am not "jumping the shark" here, but would be interested to hear what other people have to say about this "embargo".

PS--Maybe GWB was correct in saying that the constitution is "just a g*dd*mn piece of paper."!

Barry wants Government Motors to fail, along with Chrysler. That'd mean more people out of work, more demand for all of his social programs, and more dependence on the government.

The only reason he 'invested' so much of the taxpayer's money into GM is to funnel it and a lot more to his supporters in the UAW, ACORN, and other organizations he's depending on to power his coup to become 'President For Life', his prime goal in all this federalization of private industry and banking.

reply to post by TheAmused


We will be lucky if it last that long. GM is going to be a political liability, all the stock holder, preferred or common, have just been wiped out. All the money they had invested is currently worth zero. There shares are worth zero. Not only that but they are in it for the long haul now.

It could be 2 years before the "new" GM gets traded publicly. Then we have all kinds of other nasty unintended consequences stemming from this. They are closing down 11 plants and idling 3, don't be surprised when it comes out that they can't find companies to build new parts for new models because the parts suppliers went out of business.

This is a bad situation, if they just let the company go into chap 11 most of the stock holders would be able to recoup some of their money, not now they have just been wiped out.

reply to post by Totakeke


whoa..

those are sick as ********

if I had 100,000+ sitting around, I think I would jump all over that shiznoz

Ill just call uncle Ben... word is he and the PPT have a few extra greenbacks laying around lol

Hmmm, from reading the article in the update I concluded that the government is giving GM a couple billion dollars of taxpayers money, and GM is closing 11 facilities.

Will the people who just lost their jobs get a similar bailout?

Or are we suddenly supposed to think for the greater good?
Cause in that case we could knock on the doors of the Forbes' List billionaires
and tell them about this greater good...