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General Motors - Page 4

GM might still be headed toward Chapter 11:

Despite a tentative pact with the United Auto Workers, Obama administration officials continue to signal that bankruptcy might be the best option. Ref. Source 8

Motors General

Will They Give In?

GM Offers Bondholders Up to 15% of the Company's Stock if They Support Bankruptcy Asset Sale [10:12 a.m. ET] Ref. ABC News

General Motors Reviews Consumer & Travel Family Culture

I believe that giving the shareholders some money is a way to assist them and the company through the restructuring of bankruptcy.

Page 4 Motors General

General Motors Bankruptcy

President Obama on Monday to announce the bankruptcy filing of General Motors, say two officials close to the talks. Ref. CNN

Motors General

It's official:

General Motors has filed for bankruptcy protection as part of an Obama administration plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. Ref. USAToday

General Motors

Ralph Nader and Labor Professor Harley Shaiken Discuss the Bankruptcy and Future of General Motors

Auto giant General Motors filed for Chapter 11 yesterday in one of the largest bankruptcy cases in US history. Shortly after the filing, GM said it would close fourteen more plants, including seven in Michigan, and cut up to 21,000 more jobs. More than 2,000 car dealerships will be shut down, as well. After the factory closings, GM will have fewer than 40,000 workers buildings cars in the United States, one-tenth of a workforce that numbered nearly 400,000 in the 1970s. Ref. Source 1

General Motors - Page 4

I just skimmed through the transcript of the discussion. Keeping in mind that I think Ralph Nader is a waste of space, I was amazed that he actually voiced the following:

Why did the UAW get such a huge share of GM, yet shareholders, who actually have worked and saved and tried to help make GM succeed, lose everything? The UAW is a major cause of GM's problems, and the government is THE major cause of its problems. Yet these two entities who created the problems get the lion's share of control in the company.

I think that GM is dead. The UAW and the government (especially under Obama) will tear it into a complete joke in industry.

And the repercussions will echo throughout the world, as hundreds of thousands of jobs, both within the company and throughout the manufacturing industry, are eliminated by these actions.

Remember a little company called Enron? When the leaders of that company destroyed the stockholder equity, they were hounded, and sent to prison. The UAW and Barak Obama are doing MUCH worse to GM, and they are going to be applauded for their "courage" and "leadership."

General Motors Culture Family Travel & Consumer Reviews - Page 4

You will not see me getting a new chevy or even looking at GM product. I think the governments take over of this a total farce and the government starting to take over companies. I think the government we have right now is a very scary government as they are going to do every thing that they want and we will be hard pressed to stop them. The sheeple need to wake up and see what is happening so we can get real change in the government.