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#1
Fri, February 27th, 2009, 10:06 AM
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GM and the "B" word?
GM speculates on filing for bankrupcy protection. What's next? Who's next?
Lars
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SENIOR MODERATOR--PTLA God doesn't have a Facebook but he's my friend. God doesn't have a twitter, but I follow him. |
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#2
Fri, February 27th, 2009, 12:35 PM
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I dunno...That may be something .gov is pushing to help reorganize and lower costs??
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Aaron For he is the minister of God to thee for good. But if thou do that which is evil, be afraid; for he beareth not the sword in vain: for he is the minister of God, a revenger to execute wrath upon him that doeth evil. Romans 13:4 
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#3
Fri, February 27th, 2009, 06:05 PM
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All bankruptcy means to a corporation like GM (or Delta...) is that they can keep the assets liquid while their vendors and other accounts get the shaft on payments... At least for a while. Then they can reorganize and hopefully improve their structure and get back to a profitable course of business.
What really bothers me is that they can file bankruptcy while retaining their assets, meanwhile the average person or small business that files bankruptcy must liquidate and surrender all assets (house, car, stocks, saving) to cover any outstanding debts. Not that I advocate bankruptcy; I believe you make your bed and you lie in it. I just really disagree with the double standard and once again, big business get to circumvent the rules. 
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Bill Cohron - The Mad Doctor   Power Hungry Performance - The ORIGINAL in Ford performance tuning... Since 1997! (678) 890-1110 www.gopowerhungry.com - Home of the Hydra Chip, Minotaur Tuning Software, and the new Orion Reflash System for Navistar! Bring back  Windows™ XP and 7.  Windows™ Vista and Windows™ 8 is a pain in my a$$!  Windows™ 10 is only slightly less annoying!  Windows™ 11 is garbage!  Much to my surprise, I'm actually quite enjoying Linux! 
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#4
Fri, February 27th, 2009, 06:51 PM
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Look at Donald Trump perfect example!!!
Lars
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SENIOR MODERATOR--PTLA God doesn't have a Facebook but he's my friend. God doesn't have a twitter, but I follow him. |
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#5
Tue, March 3rd, 2009, 12:17 AM
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Quote:
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2001 Dodge Cummins  Tuning is addicting. Lol. 
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#6
Tue, March 3rd, 2009, 10:57 AM
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One recent exception is circut city, they filed and the courts gave them x days to find investors to cover the outstanding debt. They couldn't, so they were forced to liquidate and close their doors. Not to say the executives probably maid out like bandits, but not all corperations get by with bankruptcy.
Lars
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SENIOR MODERATOR--PTLA God doesn't have a Facebook but he's my friend. God doesn't have a twitter, but I follow him. |
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#7
Sat, March 7th, 2009, 11:06 PM
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Quote:
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DJ Phoenix (my modded) Hi-1200/240Tow/75FS/80DD/100/140SS +Minotaur ASE Master Auto Technician  2001 Ford Excursion 7.3 4x4 Projects. 1970's Hustler and Max II Amphibious ATV's |
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#8
Tue, March 10th, 2009, 03:00 AM
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I raided every Circuit City I came across and got tons of goodies for nothin'. I felt like a kid in a candy store!
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2000 Black Excursion, Two 400hp 7.3 blocks with windows 
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#9
Tue, March 10th, 2009, 11:06 AM
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Glad you had fun shopping!
The other thing is Donald Trump also wrote a book about his bankruptcy and made money. Just a note I haven't been seeing as many gm commercials lately on nascar races. Mostly Ford and Toyota. Lars
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SENIOR MODERATOR--PTLA God doesn't have a Facebook but he's my friend. God doesn't have a twitter, but I follow him. |
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