GM considering Chapter 11 filing - GoFuckYourself.com

Quotealex · 02-14-2009, 04:05 PM

Another big company that might go under: http://news.yahoo.com/s/nm/20090214/ts_nm/us_gm_plan

MaDalton · 02-14-2009, 04:10 PM

probably the best they can do to get rid of pension plans and high wages

After Shock Media · 02-14-2009, 04:16 PM

Charter cable is also thinking bankruptcy.

GatorB · 02-14-2009, 04:32 PM

Quote:

Originally Posted by Quotealex

Another big company that might go under: http://news.yahoo.com/s/nm/20090214/ts_nm/us_gm_plan

You do know that Chapter 11 and Chapter 7 are two totally differerent things?

$5 submissions · 02-14-2009, 04:44 PM

Quote:

Originally Posted by GatorB

You do know that Chapter 11 and Chapter 7 are two totally differerent things?

Yep. However, a chapter 11 filing would still shake the stock market's confidence. Depending on how the Dow moves next week, the market might be pricing this and other pending reorganizations into the index's price.

SomeCreep · 02-14-2009, 04:46 PM

Yep, I'm thinking GM's bankruptcy is inevitable. Fuck, that's going to send stocks into the abyss.

$5 submissions · 02-14-2009, 05:02 PM

Quote:

Originally Posted by SomeCreep

Yep, I'm thinking GM's bankruptcy is inevitable. Fuck, that's going to send stocks into the abyss.

Short trades FTW

GAMEFINEST · 02-14-2009, 05:11 PM

that shit was coming sooner or later

SomeCreep · 02-14-2009, 05:17 PM

Quote:

Originally Posted by $5 submissions

Short trades FTW

Well, there's always that option. Personally, I believe the risk of shorting the market at these levels far outweighs the rewards. The market could easily interpret GM's bankruptcy as the bottom of this bear market and rally huge.

Matt 26z · 02-14-2009, 05:24 PM

Quote:

Originally Posted by SomeCreep

The market could easily interpret GM's bankruptcy as the bottom of this bear market and rally huge.

Don't count on it.

And I definitely wouldn't want to be in Ford if GM files.... Oh wait, I am.... I should have sold during the December spike and made out really well, but I got greedy.

$5 submissions · 02-14-2009, 05:33 PM

Quote:

Originally Posted by Matt 26z

Don't count on it.

Wasn't there an analyst that predicted the Dow at 6400 sometime by the third quarter this year? I don't know about 6400. Regardless, it's too soon to tell. Maybe things will start looking clearer once the inflationary effects of all the stimuli have come to pass.

crockett · 02-14-2009, 05:41 PM

I think we still have a long way to go with this stuff. I'd be suprised if GM actually went under, but you never know these days. My bank folded Fri... I just found out about 30 mins ago.

$5 submissions · 02-14-2009, 05:47 PM

Quote:

Originally Posted by crockett

.... My bank folded Fri... I just found out about 30 mins ago.

Whoa. Which bank was it?

crockett · 02-14-2009, 05:51 PM

Quote:

Originally Posted by $5 submissions

Whoa. Which bank was it?

well good news it wasn't mine.. it was another FL bank with the same name.

This one is mine they just put a message up saying it's not them..lol

http://www.riversidenb.com/

The other one was also called Riverside.

marcop · 02-14-2009, 06:52 PM

As the saying goes: "What's good for GM is good for America." Maybe the whole country should declare bankruptcy?

Jakez · 02-14-2009, 07:07 PM

Quote:

Originally Posted by crockett

well good news it wasn't mine.. it was another FL bank with the same name.

This one is mine they just put a message up saying it's not them..lol

http://www.riversidenb.com/

The other one was also called Riverside.

I never understood why people let a place so small and irresponsible hold all of their money..

tony286 · 02-14-2009, 07:11 PM

Quote:

Originally Posted by MaDalton

probably the best they can do to get rid of pension plans and high wages

Tell that to the 75 yr old guy who busted his ass there and is living off that pension he earned. Also if everyone makes 10 bucks an hour they cant buy much.
Nissan is laying off 20,000 and they have no unions. if banks dont open credit again you will eventually see them all fail.

Quotealex · 02-14-2009, 07:26 PM

Quote:

Originally Posted by Jakez

I never understood why people let a place so small and irresponsible hold all of their money..

Because they are all insured with the FDIC!

jaysmoke · 02-14-2009, 07:30 PM

GM just go away...forever

born2blog · 02-14-2009, 07:33 PM

No surprise there, they've been going under for quite some time now and the layoffs continue to rise

Jon Clark - BANNED FOR LIFE · 02-14-2009, 07:50 PM

snap.....

JD · 02-14-2009, 09:55 PM

wait... didn't they get bail out $? whole lot of good that did :/

Robbie · 02-14-2009, 10:03 PM

Quote:

Originally Posted by tony404

Tell that to the 75 yr old guy who busted his ass there and is living off that pension he earned. Also if everyone makes 10 bucks an hour they cant buy much.
Nissan is laying off 20,000 and they have no unions. if banks dont open credit again you will eventually see them all fail.

Yeah, Tony...but like I told you when the first bailout was happening, just because the govt. gave them BILLIONS of dollars didn't mean that even one job would be safe.

My grandfather worked hard all of his life. He busted his ass as a farmer, a rancher, and finally worked and became a milllionaire in the citrus industry. No union required. No pension plans, and no govt. assistance. He's 89 years old now and lives with my dad after suffering several strokes a few years ago.

Never asked for anything. Never took anything. And paid more in taxes than many of the folks in this thread have made in their entire lives. THAT is America.

Govt. bailouts and companies being bled to the ground is not supposed to be what this country is about in my opinion.

Just saying tony...the bailouts didn't save one job. Just like I said before. They aren't aimed at saving those jobs. They are aimed at saving those companies so that maybe one day there might be a job there for someone in the future at a reasonable wage so that people can actually afford to buy a car without having to put it on a 5 year financing plan.

Trax · 02-15-2009, 02:09 AM

wow... we are all so surprised
not

GatorB · 02-15-2009, 05:38 AM

Quote:

Originally Posted by tony404

Tell that to the 75 yr old guy who busted his ass there and is living off that pension he earned. Also if everyone makes 10 bucks an hour they cant buy much.
Nissan is laying off 20,000 and they have no unions. if banks dont open credit again you will eventually see them all fail.

If that 75 year old insists and keeping his pension and other stuff his son and gradnson won't have a job. How selfish.

02-14-2009, 04:05 PM	#1
Quotealex Confirmed User Join Date: Sep 2001 Location: The Global Digerati Village Posts: 6,265	GM considering Chapter 11 filing Another big company that might go under: http://news.yahoo.com/s/nm/20090214/ts_nm/us_gm_plan

02-14-2009, 04:10 PM	#2
MaDalton I am Amazing Content! Industry Role: Join Date: Feb 2004 Posts: 39,829	probably the best they can do to get rid of pension plans and high wages __________________ AmazingContent.com - providing only the best content and service since 2003 Monetize your content on Veegaz.com - one of Germanies largest VOD sites Got German traffic? We convert it into money for you! Skype: madalton02826 - Email: oltecconsult [at] gmail [dot] com

02-14-2009, 04:16 PM	#3
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Charter cable is also thinking bankruptcy. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

02-14-2009, 04:46 PM	#6
SomeCreep :glugglug Join Date: Mar 2003 Location: Where the Wild Things Are Posts: 26,118	Yep, I'm thinking GM's bankruptcy is inevitable. Fuck, that's going to send stocks into the abyss. __________________ Webair Hosting I use and recommend Webair for hosting.

02-14-2009, 05:11 PM	#8
GAMEFINEST Make STACK$ Industry Role: Join Date: Nov 2006 Location: sexy time Posts: 14,436	that shit was coming sooner or later __________________ Compound interest.

02-14-2009, 05:41 PM	#12
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	I think we still have a long way to go with this stuff. I'd be suprised if GM actually went under, but you never know these days. My bank folded Fri... I just found out about 30 mins ago. __________________ In November, you can vote for America's next president or its first dictator.

02-14-2009, 06:52 PM	#15
marcop Content Producer Industry Role: Join Date: Nov 2005 Location: Los Angeles Posts: 4,144	As the saying goes: "What's good for GM is good for America." Maybe the whole country should declare bankruptcy?

02-14-2009, 07:30 PM	#19
jaysmoke Confirmed User Join Date: Jun 2007 Location: TORONTO Posts: 1,192	GM just go away...forever

02-14-2009, 07:33 PM	#20
born2blog Confirmed User Join Date: Sep 2006 Posts: 1,801	No surprise there, they've been going under for quite some time now and the layoffs continue to rise __________________ Juicy Ads - Buy & Sell Quality Traffic!!

02-14-2009, 07:50 PM	#21
Jon Clark - BANNED FOR LIFE North Coast Pimp Join Date: Dec 2005 Location: 304-534-757 Posts: 9,395	snap.....

02-14-2009, 09:55 PM	#22
JD Too lazy to set a custom title Industry Role: Join Date: Sep 2003 Posts: 22,651	wait... didn't they get bail out $? whole lot of good that did :/

02-15-2009, 02:09 AM	#24
Trax [----------------------] Join Date: Aug 2001 Posts: 14,486	wow... we are all so surprised not