BREAKING NEWS: G.M to file for bancruptcy

[ferdosi]

OBAMA will hold speach. They will file chapter 11, at 8 am tomorrow....



I can't believe they will let G.M to go down. Unbelievble.... What ever happened to "TOO BIG TO FAIL POLICY".....



http://money.cnn.com/2009/05/31/news/companies/gm_bankruptcy_looms/index.htm

 

[Esteghlal 4 Ever]

even thou i knew they would file for ch 11,i gambeled & bought 10,000 of gm stocks on friday.lol
p.s.
all of my friends wouls kill me on tuesday, i would tell we told u so.lol:racecar:

 

[Pirouz]

its not going down. Its going to get smaller and become more lean so it can stay competitive.

Opel will be sold to Magna (they would probably have to lose the Saturn brand now that Opel is not owned by GM).

Pontiac is gone too since most of its cars compete with chevy cars anyways.

Canada will be owning 10% and I think most of it will be going to the US.

 

[Exoma]

Was Saipa and Khodro just sitting there with their thumbs up their asses when this was all going down?

I mean, there are Indian companies who have bid for some of these companies!

Imagine if Saipa or Khodro got their hands on Opel. Or even a fraction of Opel.

 

[Niloufar]

That was needed for GM to realize they need massive changes in their strategy. while other auto companies have switched to smaller/fuel-efficient cars, GM had mass production of Hummer that now needs to get rid of completely!

 

[mashtnaghi]

GM had mass production of Hummer that now needs to get rid of completely!

Yes, yes, yes! Btw, bail out = sail out, they seem to rather fail for the moment than allowing government's involvement.

 

[Persian-Eagle-13]

Was Saipa and Khodro just sitting there with their thumbs up their asses when this was all going down?

I mean, there are Indian companies who have bid for some of these companies!

Imagine if Saipa or Khodro got their hands on Opel. Or even a fraction of Opel.

neither way US and EU would have done everything possible to stop saipa and IKCO from purchasing the company................i think it was last year or year before when Landrover was put up for sell and IKCO wanted to buy it, but they did everything possible to make sure iranian companies not be able to buy, so they ended up selling it to a chines company!!!