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Old 03-07-2008
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Default General Motors Going broke?
I don't know if anyone else heard it but on the ABC today in Brisbane they had a story that GM is facing the real possibility of going broke...

Just imagine the impact - the worlds largest car company folding..

The comanies owned are:

Buick, Cadillac, Chev, GMC, Hummer, Oldsmobile, Pontiac, SAAB, Saturn, GM, Opel, Vauxhall, Holden and Daewoo
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Old 03-07-2008
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.......not quite.

Merrill Lynch in the US have been quoted as saying IF the US economy cannot be corrected there is a chance that car companies, such as GM, may go broke. (due to eonomic downturn, fuel costs, consumer spending slowdown etc)

Nothing like the media getting hold of it and not letting the facts get in the way of a good story though........
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Old 03-07-2008
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GM wouldnt let it get to that they would adopt a similar approach to Ford by selling off brands to leverage some quick cash so they can get newer product that the market wants on sale quicker.

You can see Hummer and SAAb as obvious companies they can offload quickly
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Old 03-07-2008
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Hrmm yeah i Know all that but there was a report sometime ago... maybe 18mths, that suggested they only had enough cashflwof or 4 years...
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Old 04-07-2008
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GM won't go bust. like mcnamg said... they will sell a few of their "liabilities".

But... apparently everyone is going broke, that's why the fuel giants keep putting fuel up and cutting back on costs... because they are going broke too..
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Old 04-07-2008
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Quote:
Originally Posted by mcnamg View Post
GM wouldnt let it get to that they would adopt a similar approach to Ford by selling off brands to leverage some quick cash so they can get newer product that the market wants on sale quicker.

You can see Hummer and SAAb as obvious companies they can offload quickly

Hmmm.....Indian made Jaguars and Saabs, Landrovers and Hummers, Australian funded Toyotas....its a sad world
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Old 04-07-2008
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The banks wouldn't let GM go busted... It would be in the banks interest to Keep them going.. Its just media shite..


carves thats funny! It would be a new era of car safety... One day u walk out to your indian made Daewoo Turn the Key and the car spontaneously combusts into a small pile of ash!!!!! haahaha
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