68Cougar Posted April 4, 2006 Share Posted April 4, 2006 http://abcnews.go.com/Business/story?id=1799317 Is this a smart move? Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted April 4, 2006 Share Posted April 4, 2006 Well if GM didnt have the UAW hanging around its neck like it does and was able to cut its fat faster then it is currently, I'd say its a good move, but if they can't turn themselves around in the next 2-3 years, they'll be bankrupt before they can ever afford to buy back GMAC Quote Link to comment Share on other sites More sharing options...
92merc Posted April 4, 2006 Share Posted April 4, 2006 For some reason, this move reminds me of the Monopoly game. The point where you are starting to loose. You have no cash and a lot of property. So you either sell some property or motgage it so that you have enough money to pay for the nasty spots you are about to land on. Desperate times call for desperate measures I guess. I just pray Ford doesn't go down this route. It's gonna get ugly... Quote Link to comment Share on other sites More sharing options...
marc-o Posted April 5, 2006 Share Posted April 5, 2006 For some reason, this move reminds me of the Monopoly game. The point where you are starting to loose. You have no cash and a lot of property. So you either sell some property or motgage it so that you have enough money to pay for the nasty spots you are about to land on. Desperate times call for desperate measures I guess. I just pray Ford doesn't go down this route. It's gonna get ugly... Well that's pretty much what is going on. That would be why they sold Suzuki and Subaru stakes. Good for them GMAC is worth a lot of money, but then again GMAC was also one of the few divisions actually making money (even though it's not making cars), so without it, GM could be losing even more per quarter, per year. I still firmly believe management is cutting up the valuable parts of the company so that in bankrupty the UAW and pension issues will be dealt with in the only part of the company which it affects, car manufacturing. Quote Link to comment Share on other sites More sharing options...
hoss96racing Posted April 5, 2006 Share Posted April 5, 2006 its like throwing the life raft overboard the sinking ship and hoping that the reduced weight will keep it from sinking... but then the ship still sinks and now you have no life raft.... Quote Link to comment Share on other sites More sharing options...
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