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GM files for bankruptcy

Aidric · 2009-06-01 12:56:17

http://news.bbc.co.uk/2/hi/business/8077255.stm A company held up as a beacon in the states for so long filing for bankruptcy is another red letter day in the global crisis.

01-06-2009 12:56pm

#1

Aidric

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Car giant General Motors (GM) has filed for bankruptcy protection, marking the biggest failure of an industrial company in US history.

http://news.bbc.co.uk/2/hi/business/8077255.stm

A company held up as a beacon in the states for so long filing for bankruptcy is another red letter day in the global crisis.

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Comments

#2 01-06-2009 12:57pm

MagicMarker

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That's what they get for being so general.

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#3 01-06-2009 12:59pm

phasers

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Opels are shite anyway

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#4 01-06-2009 1:04pm

af_thefragile

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Again?!

Why don't they just let the company die...
Let it R.I.P....

It would also give the smaller american car manufacturers a chance to grow and produce better cars than those crap boxes GM used to throw out at people.

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#5 01-06-2009 1:04pm

Sharpshooter

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Vauxhall this then?

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#6 01-06-2009 1:11pm

Rented Mule

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af_thefragile wrote: »

Again?!

Why don't they just let the company die...
Let it R.I.P....

Well this is the first time that they have declared Chapter 11.

When you look at the scope of the number of people that are employed by GM, you understand why the US government stepped in.

That being said, they should have just let it die eight months ago, and started again from scratch.

Noone is buying cars, and it doesn't look like very many peoople will be buying them in the next 12-18 months, so everything up until now has been a lesson in futility.

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#7 01-06-2009 1:17pm

dr.bollocko

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As there is already a thread on this in the motors forum I will just point you there:
http://www.boards.ie/vbulletin/showthread.php?t=2055579990

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