General Motors bankruptcy: Questions and answers for consumers

There is no doubt that GM will go through every dollar of their taxpayer bailout funds before going bankrupt.

This money is pure waste!

Unlike when the other 500+ now defunct American automakers went out of business over the decades, taxpayer dollars will be used to grease a lot of slimy hands before GM actually does shut down. It's truly sad our government has degenerated to such a low level in passing out money like drunken sailors...

When is the United States going to file chapter 11?

We need to re-organize the way we do things in this country from City government, up to the highest level.

There is no change left in the jar!

This whole thing a huge joke on us. Obama is taking us down a path of ruins.

Whatever Bush and the Democratic Congress did, Obama and this Democratic Congress is much, mush worse.

The Chinese are going to want their investments back so Obama and the other Democrats will be massively raising taxes to cover all of this wasteful spending in order to minimize how much money they have to print.

What a mess.

We need to vote out all of these Democrats and vote in fiscal Conservatives.

I am not too interested in buying a GM car or truck

Notice Obama is saying that GM will not come out of government control for at least five years. Why is that significant? That's after the next election, so it won't become an election issue.

If you want to buy American, buy a Ford. If you want to buy something similar to a Yugo, buy GM.

I cant help but think we all did this to ourselves. Not being in the car industy, but being in a union has me wondering what the price of a good job really is. Its obvious that the cost of those that retire and health care, combined with short sighted products and a large dose of "full of ourselves" attitude has brought the mighty general to its knees. I own 4 American cars and all perform fine. 1 Ford and 3 GMs. But now days, what is really an American car? Built in Canada, mexico, Aussy? I guess Im pretty scared of how much money was blown on a company that it seems everyone at the top knew was going to file anyway. Where that first and second round of a gazillion dollars go?

Just did my part of helping Government Motors by purchasing a Chevy Mailbu Hybrid. With all the discounts, etc. available, could not resist the bottom line of $20K.

And I've been a Nissan buyer up to now.

3 weeks ago I bought a Ford product. I support capitalism. GM and Chrysler are already dead to me. Never again will I buy from them.

Here's another question... Will the highly paid executives who sat in their palace offices and drove the company into the ground be among those losing their job?
Of course not! They will be rewarded with riches beyond our imagination when this is all over and done.

After only buying GM for 25+ years, never again. The government has taken to support those whose business model is unsustainable. The union bled GM dry and the management did not have the guts to stand up to them, though I don't know how long they could last with the extortion. They union gave up very little, mostly sacrificing future union workers for their sins. Kind of like our government works and the boomers, etc.

They have taken from me and my family, but I will NEVER voluntarily give to them again. I am now looking at Toyota, Honda or VW.

I will never buy another Chrysler or GM car again (they won't be around much longer anyway). The unions have robbed the taxpayers of billions of dollars to help pay for their $75/hour compensation for screwing a nut on a bolt.

Boycott Chrysler and GM for two great reasons: 1) They robbed the taxpayers, 2) they make crappy products.

Buy Ford or foreign!!!!

All the taxpayer money will find its way into union pockets. The government will get back nothing. Unsecured creditors will also get nothing, as there won't be anything left after the unions take it all. Obama is richly rewarding them for their support.

Obama is adding a whole new level of risk to investments – political risk. With GM and Chrysler as examples of overzealous government intrusion. Those encumbered with legacy liabilities, can expect to encounter serious difficulties raising capital in the foreseeable future.

http://pacificgatepost.blogspot.com/2009/05/o...

In the meantime Wall Street will continue to be bailed, make billions, replenish its coffers, and taxpayers won’t know the hows, whens or whats.

James Raider wrote:

Obama is adding a whole new level of risk to investments – political risk. With GM and Chrysler as examples of overzealous government intrusion. Those encumbered with legacy liabilities, can expect to encounter serious difficulties raising capital in the foreseeable future.
http://pacificgatepost.blogspot.com/2009/05/o...
In the meantime Wall Street will continue to be bailed, make billions, replenish its coffers, and taxpayers won’t know the hows, whens or whats.

That is so true.

People don't realize what a mess these liberals have created.

Alz wrote:

This whole thing a huge joke on us. Obama is taking us down a path of ruins.
Whatever Bush and the Democratic Congress did, Obama and this Democratic Congress is much, mush worse.
The Chinese are going to want their investments back so Obama and the other Democrats will be massively raising taxes to cover all of this wasteful spending in order to minimize how much money they have to print.
What a mess.
We need to vote out all of these Democrats and vote in fiscal Conservatives.

There is no longer a fiscal conservative. The Bush administration created the biggest deficit in recent history. They spent money like a drunken sailor. The Dem leader is going to catch up and pass him however.

MisterP wrote:

Here's another question... Will the highly paid executives who sat in their palace offices and drove the company into the ground be among those losing their job?
Of course not! They will be rewarded with riches beyond our imagination when this is all over and done.

The people that will suffer greatly will be the employees; as usual. The people that live in the ivory towers suck the money til there is no more and then ask the government for more. Those hard working executives need to spend some vacation time in the Bahamas because they have worked so hard. As for the union workers that will be left I offer a suggestion. Start working on your 401Ks like the rest of us. Quit relying on your employers to take care of you. ENRON, and Worldcom should be reminders if you wonder why.

I traded my Pontiac Torrent for a German suv in Feb. 90. I knew the negative equity that I already had in buying a Torrent was about to get worse once GM filed bankruptcy. In the future I will only buy cars that can hold value.

Consumer wrote:

I traded my Pontiac Torrent for a German suv in Feb. 90. I knew the negative equity that I already had in buying a Torrent was about to get worse once GM filed bankruptcy. In the future I will only buy cars that can hold value.

You don't buy a car for an investment. You seldomly get the value that you want. Dave Ramsey has more info on this in his book.

Mike wrote:

<quoted text>
There is no longer a fiscal conservative. The Bush administration created the biggest deficit in recent history. They spent money like a drunken sailor. The Dem leader is going to catch up and pass him however.

I said fiscal Conservative and you somehow lumped Bush into that.

Bush wasn't a fiscal Conservative. Duh.