If GM goes Bankrupt will you still buy a Camaro?

[mikenmar]

Originally Posted by arozar

Give me ONE example as to when the government has run anything successfully?

Amtrack, Social (in)Security, Medicare, the post office, DMV, Education??????

Actually, Social Security is administered extremely efficiently. Its long-term imbalances are not a function of how well it's run -- that's a function of demography, combined with the tax and benefit rates Congress sets -- but that has nothing to do with how the program is administered. Same with Medicare.

And as far as education goes, some of the best universities in the world are public. Every degree I have is from a public school -- my JD, PhD and MA are from UC Berkeley, a top notch research institution with a world class law school -- as well as my undergrad degree (College of William and Mary) and even high school.

I'll put my public education against that of anybody from private schools.

[sabrescamaro]

Originally Posted by mikenmar

Actually, Social Security is administered extremely efficiently. Its long-term imbalances are not a function of how well it's run -- that's a function of demography, combined with the tax and benefit rates Congress sets -- but that has nothing to do with how the program is administered. Same with Medicare.

And as far as education goes, some of the best universities in the world are public. Every degree I have is from a public school -- my JD, PhD and MA are from UC Berkeley, a top notch research institution with a world class law school -- as well as my undergrad degree (College of William and Mary) and even high school.

I'll put my public education against that of anybody from private schools.

That's a great list of degrees and schools. I want those haha.

[kdecroo]

Absolutely, Why not. I love my GM's and they need us now more than ever.

Long Live GM..

[Jeffro19]

Yes I will be buying one no matter what happens!

[m0ore4ustin391]

lol, its not like GM is going out of business and as of This morning (June 1, 2009 @ 6:00am) GM did file Ch. 11 Bankruptcy. So dont worry about GM leaving the face of the earth because it will NEVER happen. But if your asking me if i would buy a NEW camaro from GM if they were "going out of business" then yes i would because soon they would become a collectors item.

[Blackwolf]

Hell yeah I'm buying one. And I can't wait till I can pour a ton of cash into the new GM stock after the reorganization!!

[FenwickHockey65]

Originally Posted by Justcallme61

So much for that :P. Sorry, I had to.

A) 500.

B) The post was also in October before anyone could accurately predict how bad the market would turn. At that time, there was still a chance that GM would pull out all right, and things were actually beginning to look better.

C) Bankruptcy protection did indeed end up as a last resort, did it not?

D) My original point still remains, the best thing you can do for GM right now is buy one of their vehicles.

[FenwickHockey65]

Originally Posted by Dakota Kid

NO I am NOT fine with AIG, see, as an American, I am against bailouts. I don't give AIG a penny of my money.

"Jap" companies? You may be showing your bias...the Japanese have perfected the art of auto making, we could learn a lot from them.

Loan? So.....when do you think GM will "pay back" the monies they have been given? Honestly? Man, take the blinders off. Since when should poor performance and customer service be rewarded.

Honestly, just admit it..you are a Chevy fanboy and that is what you like. Just admit it, and you may actually get an ounce of respect here.

500.

Oh, how odd. A Chevy fanboy on a website dedicated to a CHEVROLET. What a strange concept.

[CanadianRocky]

Even if GM shuts down, which it wont, the best of their products would be bought out by other companies.

The problem might not be getting a Camaro, it might be buying it off of the Kia lot.

Who knows what the future brings. And I dont care, as soon as I can get my hands on the new Camaro Convertible, I am getting one.

[songsj]

GM isn't going anywhere. Right now the stock is at $5.06, (up .30 from yesterday). Even if GM files for bankruptcy protection, they will not be closing their doors. Let's just keep the faith and hope that everyone on this site that says that they are buying a new Camaro actually BUYS a new Camaro.

I believe GM stock closed at around .73 a share today which is about .73 more than it is worth. Common shareholders will be wiped out in this bankruptcy. New shares will be issed for the new GM when it emerges from reorganization. The government, Union, bondholders etc will probably try to sell their stake in the company to new sharholders.

[songsj]

Actually, Social Security is administered extremely efficiently. Its long-term imbalances are not a function of how well it's run -- that's a function of demography, combined with the tax and benefit rates Congress sets -- but that has nothing to do with how the program is administered. Same with Medicare.

I'm sorry I have to disagree with you here, I would call taking our surpluses collected and using them to offset the deficit in the general fund gross mismanagement. If you or I did that in many business stituations it would be called fraud and we would be in jail.

Social security will be insolvent because the government spent the money they collected from us for social security on other things. They have collected more than enough to cover the baby boomer years. Too bad they spent it instead of allowing the surplus to grow like they were supposed to. Yes I really want them building my next car and administering my waranty.

[mikenmar]

Originally Posted by songsj

I'm sorry I have to disagree with you here, I would call taking our surpluses collected and using them to offset the deficit in the general fund gross mismanagement. If you or I did that in many business stituations it would be called fraud and we would be in jail.

Social security will be insolvent because the government spent the money they collected from us for social security on other things. They have collected more than enough to cover the baby boomer years. Too bad they spent it instead of allowing the surplus to grow like they were supposed to. Yes I really want them building my next car and administering my waranty.

None of this has anything to do with administration. You're talking about the merits of the program as it is intentionally operated (that is, purely by design). I'm talking about whether the program is run efficiently in terms of what it costs to operate the program.

Look at what it costs to administer the Social Security fund:

http://www.ssa.gov/OACT/TR/2009/II_cyoper.html#94983

It takes $5.7 billion of administrative expenses to administer a fund worth $2.4 trillion (that's less than one quarter of one percent of total assets) while managing to pay out monthly benefits for about 42 million beneficiaries and tracking the lifetime earnings of hundreds of millions of workers.

Show me a private firm that would bid so cheaply on a job of that magnitude. Ain't gonna happen.

[catmaster1]

absofreakinglutely!

[PQ]

I bought mine today. I'll allways be able to say I bought my Camaro the day GM filed bankruptcy. lol