Skip to comments.GM's Path To Leave Bankruptcy Apparently Cleared
Posted on 07/09/2009 9:45:18 AM PDT by kellynlaEdited on 07/09/2009 10:21:32 AM PDT by Admin Moderator. [history]
DETROIT -- General Motors Corp. appeared headed toward a record-short escape from bankruptcy protection Thursday despite a last-minute appeal that a legal expert said was unlikely to stand in the way.
A bankruptcy judge's order approving the sale of most of GM's assets to a new company was to go into effect at noon. An appeal was filed just before the deadline by plaintiffs in an Arizona product liability lawsuit against the automaker. It was unclear if the appeal delayed the sale approval.
(Excerpt) Read more at wnem.com ...
What a joke, I can’t wait for every other company in the US to try this. Tons of debt, no problem, just write it off in a quick reorg.
I will never buy GM or Chrysler EVER. I will ride a bike or a scooter first.
Yep, the damage is done.....wrongfully appointed owners now are able to transition debt-free to continue to do business under the government’s thumb. Guess what GM? It will be a freezing cold day in hell before I even think about looking at a new GM car, period....all you UAW and government workers can eat the plastic, what little metal, foam and other materials those cars will be made of because you won’t be getting any money for them.
I’ve never bought a “foreign” made car...now I’ll never buy a UAW made car...what a “change”.
At first, I was hoping for a drawn out bankruptcy, but I’m glad this is happening, so they can FAIL FASTER.
Is that a Corvette? If so, why on earth would you go buy a Government Motors car?
"He expects GM to close the deal and emerge from bankruptcy on Thursday in 39 days, a record for a company its size, he said.
Oh, what joyful rejoicing! What a miracle! All it took was throwing billions of OUR MONEY at the problem!
Hooray for us.
I believe that is the long term agenda.
Because I like ‘em...and last I checked, I still live in a free country and I can still buy what I like.
BTW, my neighbors in KY built it, thank you.
GM should be able to cut the price of a Corvette in half, right ?
...from Government Motors.
Like the other poster, I won’t buy a UAW car either, but...you are 100% correct.
You will be able to buy what you like, until the government tells you that you can’t, so...do it while you still can.
The thing is, the ones out here who can’t find a job to pay off their own debt don’t have the bankruptcy option like the corporations do.
The Baraqqis will do whatever it takes to keep GM looking good until November 2012. After that, not so much.
I still can’t understand why no Republican is playing the obvious class warfare card that Joe the Taxpayer is funding $3200 / month pensions and silver plated benefits for 50 yr old UAW retirees.
You should check out the new 2010 Government Motors Crapmobile
before you make any final decisions.
This is one reason why I went out and bought a new Honda - my thinking is that you won't be able to get one in a couple of years because Zer0 will tax them so highly.
“...last I checked, I still live in a free country...”
Um, you may want to “check” a little closer on that
“free country” thing.
And I will NEVER buy Japanese or German.
My father would roll over in his grave if I did. And ever since FORD started flying the Vietnamese Communist flag at corporate headquarters; they're off the list too!
Ya see, we Marines have LONNNNNNNNNNNNNNG MEMORIES!
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