Quote:
Originally Posted by Dragoneye
They would have if the economy hadn't tanked. They were well on their way.
I'm curious to know why you're so quick to write them off? Is it simply because you think Chapter 11 is the magic cure?  |
I don't think any of us that are suggesting bankruptcy as an option wants to right GM off. What we want to see is a healthy and sustainable auto industry and would love to see GM as part of that industry. And honestly I don't care how they do it, but they should not be borrowing money from our government. Doesn't everyone realize that our goverment does not have the money to lend. China holds hundreds of billions of dollars in treasury notes. So I guess you can say GM is really a global company, because every dollar they get from the US goverment will need to be borrowed from some other country, or printed...thus causing inflation.
At some point we all have face reality. The key is sustainability. While you say they were well on their way to profitability, the problem is that it was all based on a bubble. Too many people consuming at unsustainable levels. What does it say about our economy when it can be so drastically affected by a lack of credit? Perhaps it says we are consuming more than we can afford and by definition it is therefore unsustainable. Make no mistake, I am guilty of the same behavior.
You know GM says one of the reasons they don't want to file bankruptcy is because of public opinion and they believe that people won't buy cars from a company that is going through bankruptcy. While that may be the case, I wonder how public opinion of a company seeking billions of dollars in loans that may NEVER be paid back now, will affect their decision to consider something other than a GM vehicle.