General Motors Bankruptcy Official

[GM MAX]

The only thing I can find that Ford took was a subsidy from the government to build more fuel economical vehicles. I think that all the US auto makers received the same. I don't see anything about them borrowing money or the government owning any part of Ford. I have been a Chevy fan my whole life, since my grandfather, uncles, and father all worked for GM, but I really respect Ford for pulling through this without the fed's help.

[duramaxpower808]

Well with new fuel economy standards by 2016 just be glad you can still by a diesel in the heavy duty trucks, because soon there will be more hybrids and less v8s. that's to bad.

[sc3283]

now that we ALL (well us tax paying citizens that is) own 70% of GM....we only have to pay 30% on any parts, repairs or new vehicles???

[bigbaddiesel]

now that we ALL (well us tax paying citizens that is) own 70% of GM....we only have to pay 30% on any parts, repairs or new vehicles???

i almost spit out my food laughing on that one....that would be nice, but its goverment owned, its not a co-op

[Billr]

The ugly truth is that GM has not had a viable long term business plan in years. Labor costs are FAR out of line with the global market, retirement and medical expenses are through the roof, management as been inept with shortsighted planning and poor decision making, and finally, spend as much time shifting deck chairs as they do working.
And now the politically correct (read labor friendly) Obama adm. is going to fix things? Talk about a black hole... There will be no end to the requests for more money. I feel sorry for the folks who work there now for many are in a doomed infrastructure that is not viable long term. Short term fixes will help those now, but in the long term the global market will crush GM unless permanent structural changes are made.

[chevymakesitizuzushakesit]

i hope that gm get there act together

[Bevoboyd]

Someone earlier said it best, "Welcome to socialism" and that sucks. When GM's CEO was forced out by our gov't, everyone should've stepped back for a second and thought about what that meant. More gov't is not a good thing, nor will it ever be...

[Heilman97]

Giving them the money was never the right thing. Now the gov't has a reason to have an agenda to make it their way. Which is never good. I hate to say it, but any future was better than Obama sticking his nose in it.

[95dieselsmoke]

Very sad indeed...