Futures are falling

Quote from Illum:

I'm not the one who needs to get a grip. A chain reaction will be let loose.
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Yawn...then let it loose but stop acting like its the end of the world.

Pouring good money after bad isn't going to change the inevitable. If they aren't willing to make hard and fast changes (like the UAW agreeing to wage reductions) then they need to go bankrupt and get it over with.

Yes, the gov't will be the only one to do their DIP financing but at least then they will be able to renegotiate everything which they clearly can't right now.
And the damage to the economy wont be undone by that financing. We are going to lose all technical levels. Enjoy your "grip" on your reality.
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Yes, yes, its the end of the world as we know it...whatever.

I'm short ES...have a good night
 
Quote from MrDODGE:

Something will get passed, GM is not going bankrupt.
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probably not. but face it, this company is biggest piece of shit, and it'll drag down american economy for some period of time b/c of way their dumass CEOs ran this company for ages. If an auto company can't sell autos, is there any hope left? for example, while toyota sold close to 300k units of Prius back in 2005, GM sold 140 hybrid cars total, not just one model. CNBC was literally silent for few seconds after reporting this lol. another example displaying how inferior american cars are.....check this out......I shopped around for a minivan last month.....came down to 3 choices(odyssey, siena, town&country). odyssey with all the top ratings and T&C inferior in every way. Now when you compare the prices on the high end models, T&C costs 5K more than Odyssey Touring......who the f.u.c.k is going to buy an inferior car and pay 5k more, not to mention the lower resale value. GM/F/chrysler has to stop all those TV ads about employ discount and shit, and cut down costs.

the true reason, which everyone knows, that fed will bail this POS is their debt, which will bring chaos if completely defaulted. GM trades at $4 now but their debt is like $50 per share. Our govt totally failed with this POS cuz debts don't suddenly hit you in the head.....they accrue over time......and to let it get this bad........I don't know what everyone is thinking. The best solution is to dilute their asset and sell.....fed take over their debt at a discount, and tax payers get screwed for a year or two. this $14B bailout won't do shit, and BIG(my ass)3 will beg for more bread crumbs. and this could make all of us suffer for years to come.
 
i wonder if the UAW is contacted by someone in Washington, and another vote is cast?

is the UAW really that stupid? or, is it about power?/saving face?

as painful as it is going to be, perhaps, in the long run this is better.

surely, the other car companies will take up the slack....
 
Quote from forsalenyc:

probably not. but face it, this company is biggest piece of shit, and it'll drag down american economy for some period of time b/c of way their dumass CEOs ran this company for ages. If an auto company can't sell autos, is there any hope left? for example, while toyota sold close to 300k units of Prius back in 2005, GM sold 140 hybrid cars total, not just one model. CNBC was literally silent for few seconds after reporting this lol. another example displaying how inferior american cars are.....check this out......I shopped around for a minivan last month.....came down to 3 choices(odyssey, siena, town&country). odyssey with all the top ratings and T&C inferior in every way. Now when you compare the prices on the high end models, T&C costs 5K more than Odyssey Touring......who the f.u.c.k is going to buy an inferior car and pay 5k more, not to mention the lower resale value. GM/F/chrysler has to stop all those TV ads about employ discount and shit, and cut down costs.

the true reason, which everyone knows, that fed will bail this POS is their debt, which will bring chaos if completely defaulted. GM trades at $4 now but their debt is like $50 per share. Our govt totally failed with this POS cuz debts don't suddenly hit you in the head.....they accrue over time......and to let it get this bad........I don't know what everyone is thinking. The best solution is to dilute their asset and sell.....fed take over their debt at a discount, and tax payers get screwed for a year or two. this $14B bailout won't do shit, and BIG(my ass)3 will beg for more bread crumbs. and this could make all of us suffer for years to come.
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You rant and rave about the automakers asking for $15 billion when we've seen $700 billion given to financials. Wake up, this is a drop in the bucket compared to that. GM, F and Chrysler may be non-competitive in some ways. But they've not decimated the financial markets the way all the financial companies have. I suppose you don't see any problem with good old Bernie Madoff 's scam.
 
Quote from Illum:

Yea it is serious. This is what everyone seemed to want though. Everyone thought it was so much better to let the big 3 go. They are more important than people think. We are now in a depression. And I do believe most people wanted this for some reason.:confused:
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It is self-revulsion. The U.S. wants to destroy itself. Isn't that obvious over the last year?
 
Quote from 377OHMS:

It is self-revulsion. The U.S. wants to destroy itself. Isn't that obvious over the last year?
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CORRECT....the government elected officials are following their MASTERS plans to set up the economy (dumbed down) for the soon to be seen global governance!


ENJOY! :eek:
 
Futures calmed, still down but not as bad. Hope coming from white house, Bloomberg tv says white house now weighing options.
 
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