GM in Bankruptcy, dissolution

[the]

Originally Posted by Dan in Pasadena

The one I am thinking of is, "What's good for General Motors is good for America". There would be hundreds of thousands of workers laid off and many if not most permanently. Thousands of smaller sized business going out of business. How could that be a "good" thing for our economy?

That old saying doesn't work anymore. It only makes sense when you assume a reasonably functioning, profiting GM. That was the case when that saying first came out.

GM is basically dead already.

[widgeon13]

Originally Posted by Oh Haha

[
But my real feeling is that if gas were $5 a gallon and STAYED there for 10 years before it dropped back to $2.50-$3.....everyone would go out and buy gas guzzlers if they made them.

You still see the people in SUV's around here driving like they did when gas was $2.00 a gallon. [/QUOTE]

That's because deep down inside, they know that $4 / gal is still a good deal considering it's more than $6 / gal in Europe. They'll complain but they still believe they are getting a bargain.

[Zef]

If GM were go into bankruptcy...no more crap on the road.....That's a good thing.

[strupgolf]

The problem with GM going under would be, we, as taxpayers will be picking up the cost of all the union pensions for a very long time. That, I cant stand.

[widgeon13]

Interesting article on UAW pensions, perhaps they are separate but it's a good question as to whether they are separate in bankruptcy. They certainly weren't with a lot of the airlines. At least they appear to be well funded but that was most likely before the market decline.

http://bulletin.aarp.org/states/mi/articles/pension_funds_used_for_retirement_offers_unusual_m ove_irks_uaw_members.html