General Motors Files Largest Industrial Bankruptcy In History $172.8 Billion

what president do you know that was able to keep promises they have made during elections come on lets be realistic here.

There, I hope you GM and Detroit haters are haters now

And down goes the UAW.

Don't count them out just yet.

Oh, I already have counted out the UAW, 009. Even with restructuring, they are eliminating a huge point of the UAW "Constituants".

[side note what the Obama administration has done is an egregious assault on a free economy for the way they have treated the Secured Bond Holders vs the Unsecured bond holders (UAW)]

And if that wasn't bad engough there is another reason the UAW will fail. Its been givin the Obama Automotive Kiss of Death. Think about it this way, when was the last two times Obama made a large forey into the automotive world. I believe the first time was with the raising of CAFE standards...we see how well that has helped the US automanufacturer. Especially since we were headed that way to begin with, just not on the governments arbitraty schedule.

The second time was with the overwhelming support of E85. And we all know how well thats doing. (Thank god thats a failure).

So all in all I think the UAW is pretty much doomed due to Obamas track record alone...and thats not such a bad thing.

The Fat Lady has sung.

I keep hearing the phrase "Government Motors", but can anyone here tell me what the alternative would have been for GM? I am as much against the gov't controlling corporations as anyone, but can someone intelligently tell me what other alternatives were available to GM? I am just curious since many seem to think this is some evil gov't plot masterminded by our new POTUS. This has been a long time coming for GM, and you guys know it......

We agree, GM was doomed a long time ago, but on the other hand we are talking about hundreds of thousands of jobs here. From assembly line workers to suppliers.

I was in Detroit for two days last week on business, and let me tell you, it is a shell of the city it was just 5 years ago. Doors are closing on businesses left and right, it is really sad to see, Detroit was one of my favorite cities to visit in the mid 90s.

So, what if Obama hadn't given them a dime and just let the whole house of cards fall without trying to do anything? What if he hadn't spent the billions, which is still a drop in the bucket compared to what the banks got. He would have gotten even more heat than he is getting now and would have gotten all the blame for the 20% unemployment rate that followed. The man is damned if he does or doesn't, I don't feel terribly sorry for him because he wanted to be the president, and he got it, but I do support his efforts to try and clean up this mess. Alot of people here just want to attack the man, and that just doesn't help the situation at all, party lines are for election season, most people just don't seem to get it.

Think about it, what can our gov't really do in these types of situations? They can either write checks or sit back and watch. The gov't got into the bailout business BEFORE "the messiah" was elected, but I know you knew that already......

Really.

Detroit was one of you favorite cities to visit. Detroit?

I know everyone is entitled to their opinions and that one mans trash is another mans treasure however...Detroit? Honestly sometimes one mans trash is every mans trash. I have had the misfortune of spending time up in the great pothole city and have been less than impressed.

Here are a couple citys that might be slightly better to visit.

How about Lahaina...thats a good city, or SanDiego...there is another one.

Maybe you like the cold...might I suggest Vail or Aspen. Hell I'll thow in Chicago, D.C. and NYC while im at it.

How about Baghdad. Heard they at least fill in their bomb craters.

Did you have mistress up there or somthing? Is that why you like it so much?

Sorry for jerking you chain but that was a funny statment.