[Newsbot]

Title: Obama favours quick GM bankruptcy
Category: Business
Posted By: stemmer
Date: 2009-04-01 09:11:14

[Robair]

Apparently, a GM bankruptcy could really screw Ford over. The only one of the three not asking for a bailout.

[Pseudonym]

Which is what they should have done at the very beginning. Do we rag on Obama now for following Rush Limbaugh's plan for America?

[commanderkai]

Robair Robair:

Apparently, a GM bankruptcy could really screw Ford over. The only one of the three not asking for a bailout.

The reason they weren't asking was, I believe, that they were mortgaging a great deal of their properties before this mess began, thus why they have cash reserves (don't ask for a link, I heard it on local radio)

[stokes]

commanderkai commanderkai:

Robair Robair:

Apparently, a GM bankruptcy could really screw Ford over. The only one of the three not asking for a bailout.

The reason they weren't asking was, I believe, that they were mortgaging a great deal of their properties before this mess began, thus why they have cash reserves (don't ask for a link, I heard it on local radio)

Yes I had heard the same as well, apparently Ford saw what was coming and mortgaged a lot of their property so they would have money to get them through. GM and Chrysler had aslo done this but years ago so they had nothing left to fall back on, which is why they are now in trouble.

On a side note, I was at Ford on Saturday getting my truck maintained and all of the salesman were busy, at GM across the street you could almost hear the crickets.

[martin14]

stokes stokes:

commanderkai commanderkai:

On a side note, I was at Ford on Saturday getting my truck maintained and all of the salesman were busy, at GM across the street you could almost hear the crickets.

And at Chyrsler, the crickets are already running the place.

I wonder if Fiat gets a better deal by taking Chrysler,
or waiting for it to go and just bidding on the best bits.

[xerxes]

Not likely. FIAT was on the ropes not too long ago as well.

[commanderkai]

stokes stokes:

Yes I had heard the same as well, apparently Ford saw what was coming and mortgaged a lot of their property so they would have money to get them through. GM and Chrysler had aslo done this but years ago so they had nothing left to fall back on, which is why they are now in trouble.

I never heard about that, I don't think GM ever mortgaged its properties, though I'm sure some of it isn't worth too much (GM Center in Detroit, because prime real estate in the most depressed city in the country isn't exactly a good deal. I heard Ren Cen (GM's HQ, what I still refer it as) has some of the highest square footage of office space in the US (second to like, the Pentagon, but I might just have misheard), and yet, it's in the worst city in America

[Ripcat]

stokes stokes:

On a side note, I was at Ford on Saturday getting my truck maintained and all of the salesman were busy, at GM across the street you could almost hear the crickets.

Odd, that.

GM Canada back to No. 1

[stokes]

Ripcat Ripcat:

stokes stokes:

On a side note, I was at Ford on Saturday getting my truck maintained and all of the salesman were busy, at GM across the street you could almost hear the crickets.

Odd, that.

GM Canada back to No. 1

I read that articale as well, but who knows maybe it was an off day. But I would still rather own a Ford, at least it might hold its value for more than a drive around the block.

[mtbr]

Ripcat Ripcat:

stokes stokes:

On a side note, I was at Ford on Saturday getting my truck maintained and all of the salesman were busy, at GM across the street you could almost hear the crickets.

Odd, that.

GM Canada back to No. 1

so, how much money did they make

[poquas]

$1:

Obama favours quick GM bankruptcy

So do I.

[Public_Domain]

[QBall]

martin14 martin14:

I wonder if Fiat gets a better deal by taking Chrysler,
or waiting for it to go and just bidding on the best bits.

If Daimler couldn't work with Chrysler I don't see how Fiat can make it work.

[Streaker]

Fiat has several good small-car platforms which Chrysler badly needs.