GM considering Chapter 11 filing
 

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

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

Charter cable is also thinking bankruptcy.

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.

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

Short trades FTW :)

that shit was coming sooner or later

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.

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.

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.:2 cents:

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.

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.

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

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

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.

Because they are all insured with the FDIC!

GM just go away...forever

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

snap.....

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

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.

wow... we are all so surprised
not

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