TomServo92 Posted May 29, 2009 Share Posted May 29, 2009 Just two years ago, who'd have thought it would end up like this? Quote Link to comment Share on other sites More sharing options...
CKNSLS Posted May 29, 2009 Share Posted May 29, 2009 Just two years ago, who'd have thought it would end up like this? Anybody who subjectively looked at the junk they were building........for the last ten years or so. Quote Link to comment Share on other sites More sharing options...
TomServo92 Posted May 29, 2009 Author Share Posted May 29, 2009 Anybody who subjectively looked at the junk they were building........for the last ten years or so. As a former owner of an '81 Buick Regal, I fully understand what you're saying. Yet it's still a bit shocking. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 29, 2009 Share Posted May 29, 2009 Just two years ago, who'd have thought it would end up like this? Ford Motor........ Quote Link to comment Share on other sites More sharing options...
TomServo92 Posted May 29, 2009 Author Share Posted May 29, 2009 Ford Motor........ Two years ago, I don't think Ford was worrying about where GM was going. They were too busy getting their own house in order. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 29, 2009 Share Posted May 29, 2009 Two years ago, I don't think Ford was worrying about where GM was going. They were too busy getting their own house in order. Sorry, I didn't make my answer clear. I meant, three years ago Ford thought it could happen to them Quote Link to comment Share on other sites More sharing options...
Sixt9coug Posted May 29, 2009 Share Posted May 29, 2009 *checks pockets for spare change* Me thinks a Taco Bell burrito would be a better investment. Quote Link to comment Share on other sites More sharing options...
TomServo92 Posted May 29, 2009 Author Share Posted May 29, 2009 Sorry, I didn't make my answer clear.I meant, three years ago Ford thought it could happen to them It was the Aussie accent that had me confused... :D Quote Link to comment Share on other sites More sharing options...
snooter Posted May 29, 2009 Share Posted May 29, 2009 they built junk for 20 years..ripped me off once..i will never go back to any GM product..i could really care less what happens to them...they simply forgot about building good quality and just let yoda have it all...everybody who works for GM is to blame..everyone of those idiots Quote Link to comment Share on other sites More sharing options...
Paul Selby Posted May 30, 2009 Share Posted May 30, 2009 It's hard to believe how far GM has fallen when I think back to some of the great cars they were building back in the 60's. Back when each division had it's own engine and unique style. For me, I remember Olds diesel as the beginning of the end for GM. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 30, 2009 Share Posted May 30, 2009 (edited) How Much lending will GM require: 1) Before bankruptcy: $23.4 billion ($19.4 B + $4 B ) 2) DIP Finance: $14 billion 3) New GM Cash Float: $26 billion 4) DOE Loan: $9.8 billion 5) Line of Credit: $10 billion What's that add up to? $80.2 billion. Edited May 30, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
Reigner92 Posted May 30, 2009 Share Posted May 30, 2009 Man... Look at Ford http://www.google.com/finance?client=ob&q=NYSE:F They are in WAY better shape! Quote Link to comment Share on other sites More sharing options...
7Mary3 Posted May 30, 2009 Share Posted May 30, 2009 Man... Look at Ford http://www.google.com/finance?client=ob&q=NYSE:F They are in WAY better shape! GM should be trading at $0 now, with a backruptcy announcement reported to be coming Monday. As for Ford I personally don't think, given their fundamentals, that their share price is supported. Seems to be very speculative at this point. Time will tell. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 30, 2009 Share Posted May 30, 2009 (edited) Man... Look at Ford http://www.google.com/finance?client=ob&q=NYSE:F They are in WAY better shape! Easy when the market is compares Ford with bucket of shit GM. I wonder what the new GM will be trading at with all the old debts swept away, and GM's followers returning in droves because their beloved Bowtie GMC and Caddy are saved..... Remember Ford will still have significant debt where GM rinsed clean of debt is their competitor. Edited May 30, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
7Mary3 Posted May 30, 2009 Share Posted May 30, 2009 Easy when the market is compares Ford with bucket of shit GM. I wonder what the new GM will be trading at with all the old debts swept away, and GM's followers returning in droves because their beloved Bowtie GMC and Caddy are saved..... Remember Ford will still have significant debt where GM rinsed clean of debt is their competitor. And that, my friend, is the big question. At this point, we can only speculate as to what GM is going to look like a year from now. Quote Link to comment Share on other sites More sharing options...
mettech Posted May 30, 2009 Share Posted May 30, 2009 Just two years ago, who'd have thought it would end up like this? I bought it at $32.00. I thought it was a bargain coming from $60.00 Quote Link to comment Share on other sites More sharing options...
LSFan00 Posted May 30, 2009 Share Posted May 30, 2009 How Much lending will GM require: 1) Before bankruptcy: $23.4 billion ($19.4 B + $4 B ) 2) DIP Finance: $14 billion 3) New GM Cash Float: $26 billion 4) DOE Loan: $9.8 billion 5) Line of Credit: $10 billion What's that add up to? $80.2 billion. Liquidation was clearly the way it should have gone... How many companies in this country are even valued @ or above $80B? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 30, 2009 Share Posted May 30, 2009 Liquidation was clearly the way it should have gone... How many companies in this country are even valued @ or above $80B? The government's purpose for rescuing GM was for the good of the wider community. If rescuing GM is going to cost $80 billion, they obviously think that an uncontrolled collapse of GM and ensuing liquidation would have cost everyone else far more and shattered whole communities. With all the other large banks wanting to return TARP funds, why are none of them stepping forward? Why does the government still have to act as GM's Debtor In Possession financing? This would be the opportune time to grab the banks and remind them of their civic duty because they were front and center on what caused all of this...... Quote Link to comment Share on other sites More sharing options...
7Mary3 Posted May 31, 2009 Share Posted May 31, 2009 Not to mention uncontrolled collapse of GM would drag Ford under as well. Quote Link to comment Share on other sites More sharing options...
LSFan00 Posted May 31, 2009 Share Posted May 31, 2009 The government's purpose for rescuing GM was for the good of the wider community.If rescuing GM is going to cost $80 billion, they obviously think that an uncontrolled collapse of GM and ensuing liquidation would have cost everyone else far more and shattered whole communities. With all the other large banks wanting to return TARP funds, why are none of them stepping forward? Why does the government still have to act as GM's Debtor In Possession financing? This would be the opportune time to grab the banks and remind them of their civic duty because they were front and center on what caused all of this...... GM is not "rescued," it is just (about to be) federalized. For the umpteenth time, if you took a whole-picture view and hypothesized that you wanted to spend upwards of $100B to "save" the domestic auto industry, the route chosen has to be about the least effective way to do it. Banks don't make unsecured loans of billions of dollars to a company the President of the United States is taking over as they go through bankruptcy next week. The bank's desperate desire to escape the purview of added gov't oversight/control of such things as compensation etc. ...banks flush with cash due to the surge in deposits are parking the money at the Fed instead of making loans. Got it, that explains the government's frustration with banks for not lending. Wait a second, reading further into the QBP shows that most institutions actually increased their loans: Three large banks accounted for all of the decline in the industry’s loans during the fourth quarter; most institutions grew their loan balances in the quarter. Almost two-thirds of all institutions (64.7 percent) reported increases in their loans and leases, while only about half as many institutions (2,865 institutions, or 34.5 percent of all reporters) had declines in their loan portfolios. Most banks increased their loan portfolios? Three large, over-leveraged banks restructured their loan portfolios while 64.7% of banks increased lending. Banks simply do not need additional capital to meet demand for loans to qualified borrowers. Furthermore, TARP capital costs banks 5% annually and comes with incredible intrusion into their business decisions. With strong deposit growth most institutions have sufficient cash to meet their funding needs and it should come as no surprise that many want to return the TARP funds promptly. Perhaps the Fed and Treasury, in the face of declining credit growth, have lost sight on the real reason for the lack of bank lending: a lack of demand by businesses and consumers. No bailout or new Fed lending acronym will spur demand, only time will heal these wounds. Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted May 31, 2009 Share Posted May 31, 2009 Easy when the market is compares Ford with bucket of shit GM. Remember Ford will still have significant debt where GM rinsed clean of debt is their competitor. GM will again be free to unleash unload swamp more buckets of boring dull bland dull shit bucket cars on the market on mass with $3,700 loss making bribe given free on every car it sells to distort overload supply and flood out the market at everybody elses expence, better get Bob Lutz who jumped ship with the rats to make sure he kept his pension pot in tact out of retirement to make sure the buckets of shit stay that way. Quote Link to comment Share on other sites More sharing options...
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