New General Motors expected to exit Chapter 11

[txaggie_08]

Ford also had a better business model when it came to selling cars people wanted. Ford refused the second bailout because of all the strings attached to it. With the only string attached being to pay it off, they probably would have taken it.. Ford is going to have a hard time competing with GM being run by the Government when the Government is pushing "green" technology. If GM had taken the bailout money the first time around last year, reorganized and got rid of all that was causing them to lose money, and re-worked the UAW contracts..I believe that today with the Camaro doing so well they would have by themselves been able to come out ahead and be paying off the original bailout. I believe that they would have been able to come out of Chapter 11 at around the same time as they are now with Camaro sales and excitement the way it is.. We can't change the past, we can only look forward which is what I am doing. There is an end-game to all of this and it will have to be settled in the ballot box. I am firmly against the Government taking control of everything as it is trying to do. My heart and prayers go out to those fighting for our freedom overseas.. And I will continue to fight for our freedoms on the shores as well as best as I can.. Which is in the ballot box..

I am COMPLETELY with you with everything you said. And after you said it, I do remember Ford turning down the bailout from Obama. I was thinking about last Fall when they went to ask for a bailout.

And what doesn't make sense with GM, is how Obama gave them money one day, and then a few months later, let them go bankrupt. To me, it was just a way to say the government had some kind of stake in the company. This way they could take them over. The bailout should have never been given. GM should have filed for bankruptcy, restructured Union agrreements, and came out of this deal ahead and out from Government control. Oh well!!

[Unfair]

Originally Posted by Supermans

Ford also had a better business model when it came to selling cars people wanted. Ford refused the second bailout because of all the strings attached to it. With the only string attached being to pay it off, they probably would have taken it.. Ford is going to have a hard time competing with GM being run by the Government when the Government is pushing "green" technology. If GM had taken the bailout money the first time around last year, reorganized and got rid of all that was causing them to lose money, and re-worked the UAW contracts..I believe that today with the Camaro doing so well they would have by themselves been able to come out ahead and be paying off the original bailout. I believe that they would have been able to come out of Chapter 11 at around the same time as they are now with Camaro sales and excitement the way it is.. We can't change the past, we can only look forward which is what I am doing. There is an end-game to all of this and it will have to be settled in the ballot box. I am firmly against the Government taking control of everything as it is trying to do. My heart and prayers go out to those fighting for our freedom overseas.. And I will continue to fight for our freedoms on the shores as well as best as I can.. Which is in the ballot box..

I really do think it is going to take alot more than the camaro to get back on their feet, that is just one car...

[Supermans]

Originally Posted by Unfair

I really do think it is going to take alot more than the camaro to get back on their feet, that is just one car...

I agree, the Camaro is only one vehicle... However Ford and Chevy's biggest sellers are their trucks, not some fuel efficient vehicle.. It is hard to tell but the Camaro might jump into the top ten list one of these months, we shall see..

http://www.driveclassic.com/blog/?p=268
Month of May
1.) Ford F-Series: 33,381
2.) Chevy Silverado: 31,463
3.) Toyota Camry: 31,325
4.) Toyota Corolla: 23,576
5.) Honda Accord: 22,597
6.) Honda Civic: 20,723
7.) Ford Fusion: 19,786
8.) Chevy Impala: 18,709
9.) Nissan Altima: 18,408
10.) Ford Escape: 16,391

[Supermans]

Originally Posted by txaggie_08

I am COMPLETELY with you with everything you said. And after you said it, I do remember Ford turning down the bailout from Obama. I was thinking about last Fall when they went to ask for a bailout.

And what doesn't make sense with GM, is how Obama gave them money one day, and then a few months later, let them go bankrupt. To me, it was just a way to say the government had some kind of stake in the company. This way they could take them over. The bailout should have never been given. GM should have filed for bankruptcy, restructured Union agrreements, and came out of this deal ahead and out from Government control. Oh well!!

That is what conservatives have been saying all along.. An early bankruptcy last year would have had the Government helping out with money, without the Government control but would have weekend the UAW's stranglehold on GM. Remember in late 2008, the union was lobbying Congress for a bailout to prevent the Big 3 Auto companies from filing for bankruptcy because they knew they would lose lots of power at that point in time. It truly does seem like government takeover was the current administrations plan all along in order to make the UAW stronger in the process to eventually decide to sell it back to them instead of the taxpayers. We shall see how it all will unfold down the road. Currently the UAW owns the largest percentage of GM behind the Government. If and when the Government decides to sell the shares back to the people, the UAW may very well become the majority stakeholder and in essence be running GM. -something to ponder over..

[stovt001]

Politics and other such things aside, lets just take a moment and celebrate GM emerging from bankruptcy. The details will come later. For now, where is our confetti smiley?

[Supermans]

Originally Posted by stovt001

Politics and other such things aside, lets just take a moment and celebrate GM emerging from bankruptcy. The details will come later. For now, where is our confetti smiley?

[carsismeZ06]

Woo! GM is out of bankruptcy!:happya nim::dri nking::b ow:

[Unfair]

Originally Posted by carsismeZ06

Woo! GM is out of bankruptcy!:happya nim::dri nking::b ow:

and 61% is goverment owned

[logan1080]

Woo Hoo!! Just seen it on the news. Here is a news article. http://news.yahoo.com/s/ap/20090710/..._gm_bankruptcy

[c0rsa180]

wow thats awesome news, now its time for them to get out of the red and into the black

and look at the positive side, they have a lot of tax breaks from their past net operating losses, so they wont have to pay much in taxes their first few profitable quarters...

[Mr. Wyndham]

Temporarily.

[smogintoo]

Check this out...GM is out of Bankruptcy already!!! Go Baby Go! http://www.foxnews.com/story/0,2933,...est=latestnews