"GM bankruptcy not a remote possibility"

Autoworkers agree to back pension overhaul bill: GOP leaders (GM, F, DCX) By Rex Nutting
WASHINGTON (MarketWatch) -- Congress is likely to approve legislation to overhaul pension rules this year, House Republican leaders said Tuesday after announcing an agreement with the United Auto Workers union representing workers at General Motors (GM) , Ford Motor Co. (F) , DaimlerChrysler (DCX) , and dozens of smaller parts suppliers. "The UAW's support adds even more momentum to the ever-growing coalition of employer and labor support for the Pension Protection Act, and we expect the House to pass this measure before Congress adjourns this year," said Reps. Bill Thomas, R-Calif., chairman of the House Ways & Means Committee, and John Boehner, R-Ohio, chairman of the House Education and Workforce Committee.
 
"A bankruptcy by General Motors Corp. (NYSE:GM - News) is not "far-fetched" if present trends at the company persist, Standard & Poor's said on Monday, shortly after cutting world's largest automaker's ratings deeper into junk territory."

Let's restate what was stated: "if GM continues to lose money it could go bankrupt." No kidding. Who doesn't already know that if a company -any company - continues to lose money that bankruptcy is a real possibility? So where's the news?

I had a good laugh at how many times I saw this reiterated by the newscorp and how much of a fuss it caused on the Yahoo message board.
 
from what i heard from someone(Big auto shop owner) ..We should expect a bankrupcy from GM by the end of January 2006....... WE SHALL SEE
 
Quote from The Kin:

For the sake of Capitalism and the future of the United States of America, GM must not be allowed to receive a government bailout.
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GM is entirely responsible for years of manufacturing low-quality vehicles, so let them face their fate. They must assume the most capitalist of all principles "Self-Responsibility".

I agree that it worries to see an American icon having such a bad time, but I'm a firm believer of Darwin and the survival of the best-fitted.

I see a lot of people concerned about GM, but I don't see many visiting the dealership. I currently have a German car and in my future plans I don't see myself buying an American car, unfortunate but I'm a patriot not a stupid.
 
Quote from wilburbear:

Have they now opened the door a little to filing for bankruptcy?
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True;
however like DAL[Delta, United Airlines] probably will not affect the underlying product.

And don't know why GM chose to cut Oldsmobile, still like my 1995 Old Oldsmobile, paid cash for it ;
course even my quality old Oldsmobile not quite up to Toyota,Datson/Nissan,Honda quality.

And in market, consider SPY/SPX;
Standard & Poors info, as elitetrader mentioned.

Consumer reports car charts on customer satisfaction;[1994.....,2002,2003,2004] hint the same info.:cool:
 
Quote from murray t turtle:

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And don't know why GM chose to cut Oldsmobile, still like my 1995 Old Oldsmobile, paid cash for it ;
course even my quality old Oldsmobile not quite up to Toyota,Datson/Nissan,Honda quality.

And in market, consider SPY/SPX;
Standard & Poors info, as elitetrader mentioned.

Consumer reports car charts on customer satisfaction;[1994.....,2002,2003,2004] hint the same info.:cool:
More...

Consumer reports are good for the garbage can after 6 months. Totally meaningless. If you want to get an idea of how durable a car is after the initial 6 month quality reports go check used cars at autotrader.com and see which cars have the most miles on them. I guarantee you it will not be Toyota. GM cars there have a ton of miles, that's a fact. Also if you are to believe that Japanese cars are better, why stop there? Reports show teachers in Japan are able to give their students a higher GPA according to useless and uncomparable results. So we should also fire all the teachers and import them in. etc....

BTW Congrats on the 95 Olds, solid durable cars as most GM's are.


"Unemployed, hungry? Eat your Japanese car".
 
It is really too bad that GM got a bad reputation for producing poor quality vehicles.

Nowadays, GM is producing very reliable vehicles and with the recent huge price cuts, its a shame that Americans are flipping em off.

GM is paying the price for past mistakes.

I guess its true what I studied in marketing that once you piss off a customer and they leave, it is 5x harder to win them back then it was to earn their business in the first place!

I sold off the 900 shares I owned of GM @ 20.31 and shorted 1000 shares at 20.20.

I am thinking of going big with a short, like 5-10k for a day and see if I can make a few grand on this massive slide!
 
Quote from MRWSM:/murray t turtle

Consumer reports are good for the garbage can after 6 months. Totally meaningless. If you want to get an idea of how durable a car is after the initial 6 month quality reports go check used cars at autotrader.com and see which cars have the most miles on them. I guarantee you it will not be Toyota. GM cars there have a ton of miles, that's a fact. Also if you are to believe that Japanese cars are better, why stop there? Reports show teachers in Japan are able to give their students a higher GPA according to useless and uncomparable results. So we should also fire all the teachers and import them in. etc....

BTW Congrats on the 95 Olds, solid durable cars as most GM's are.


"Unemployed, hungry? Eat your Japanese car".
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MR.wsM;
Of course I could be wrong about comparing GM to DAL[Delta, United Airlines]Note TraderRich noted what happens when you keep ticking off customers.

And also would note most of these trend comments are from 12-12 to 12-22-2005 premarket:cool:

May be a low probability , but you could fix much of GM health care plan with Jordan Rubin book[Health Experience, & plan]

My non GM mechanic wanted to put a more exspensive GM part in; & I agreed to more exspensive GM part, cause it had much better warranty, which is important in that case.. But AutoZone has better deal on headlight.

Bottom line , still like my GM -old oldsmobile, and think while we may see a nice countertrend to upside;
still have old data on GM &
probably $6.92 stock price is more likely than $36.92.



:cool:
 
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