Skip to comments.Chrysler & GM both filing for Bankruptcy?
Posted on 03/31/2009 8:32:44 PM PDT by kcvl
Chrysler & GM both filing for Bankruptcy....
GM is filing Chapter 11....
Chrysler is going to be sold off in pieces..
Toyota is closing many plants in The USA...
Do all the union contracts go “poof” under these filings?
Given the proposed tax increases and the potential of Card Check appearing in the next two years (mandatory unions, folks), can you blame Toyota? Hell, can you blame anyone?
All contracts become null and void, yes.
Anyone else hear this?!
You’ve heard the old saying, “As General Motors goes, so goes the nation”?
Obama is tearing this country apart while America sits in stunned silence.
WOW. If GM is truly heading into chapter 11, that is good news. Hopefully they can break the UAW once and for all.
The Big 3 should have filed for bankruptcy protect and reorganization BEFORE Obama began his socialist rule. They could have cleaned up the union millstone around their necks and started producing quality vehicles at competitive prices as Toyota and Honda can.
Simply, it could have saved them. Bad management decision.
That was Charlie Wilson, Eisenhower’s SecDef and former head of GM in the 40s!
The quote was “What’s good for GM is good for the nation.”
Charlie must be rolling in his grave about now.
If this true and verified as such before 930am ET toomorrow, look for the market to have its wirst day since Lehman went belly up; 800 - 1000 points down.
That stunned silence will change to quiet rage if this keeps up for another 6 months. Another year and all bets are off.
I can’t find anything else on it! So, I wonder if it’s true?!
Okay that one hurts, but business wise makes sense. Get out now while they ahead.
Hopey Changey in action.
Toyota closing plants .. that doesn’t make sense. Cutting production is one thing, but closing ?
and yet his approval continues to soar.
Have they cleared this wit Obama?
CAN they file bankruptcy without the Gubmint declaring bankruptcy, now that they are the new proprietors?
It doest smell right, but it smells like a fights brewing.
Exactly. Obama and Co will trump this if its true. After all...”WE OWN YOU”
None of the Detroit papers online, nor the radio stations that I’m streaming live, have said anything about this.
It is the obvious guess and even a good bet after The Obamunnist put the full faith and credit behind GM warranties.
This after the world was told bankruptcy would only reduce sales because prospective buyers would fear bogus warranties.
Warranties guaranteed, Hussein skips the country, GM bankruptcy rumors abound.