Quote:
Originally Posted by bballr4567
Exactly. GM, itself, got in this mess by ITSELF. UAW and the bondholders would not accept anything GM offered them in the past few years.
If GM had filed Chap 11 last year you would of seen an amazing turnaround. It would of been BEFORE the market collapse. Before the mortgage crisis. It would of been huge news but the company would of emerged far healthier and it would own itself.
Now, that the government owns GM lets see how long it takes to truly fail. A study recently said that almost 95% of companies that go into bankruptcy protection completely fail in the next five years.
Going to be an interesting year.  |
Again, the cost of doint business as a "governemtn owned" entity has to be figured in. This is my biggest concern. My hope is it doesn't jack the prices of the cars up. I'm not saying that a Government owned/controlled GM is a good thing. But it may show the Gov. that they can't force a product to the consumer that a consumer doesn't want for a price they won't pay...
I don't think it is fair to predict what's going to happen.
I didn't know about the Federal Loans being paid back through stock ownership/sales. I thought that only applied to debt other than the fed loans.
