GM done.

[Diesel_Power]

http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/index.htm

It's going to be odd seeing all them GM cars in the Transformer movie.

As far as I'm concerned GM did this to themselves. Making cars that couldn't compete with the Japanese or European auto makers.

Sorry for all those who lost their jobs.

Ford must be happy though. They have no other American automaker to compete with now.

 

[Escaep]

Ford must be happy though. They have no other American automaker to compete with now.

They aren't going out of business, they are going through a major corporate restructuring. GM will be back. But it does suck to the 20,000 auto workers whose plants will get shut down.

 

[Hobostomp]

Oh well, it's not as if they were doing God's work... they were putting pieces of metal together.

 

[speedbump]

GM now becomes the albatross around the Obama Legacy's neck.

 

[Rico]

Capitalism has spoken.

 

[nurizeko]

http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/index.htm

It's going to be odd seeing all them GM cars in the Transformer movie.

As far as I'm concerned GM did this to themselves. Making cars that couldn't compete with the Japanese or European auto makers.

Sorry for all those who lost their jobs.

Ford must be happy though. They have no other American automaker to compete with now.

Superior products and business practices win again, all hail darwinism!.

 

[Diesel_Power]

Capitalism has spoken.

uuuuuh? If anything, the free market has spoken.

 

[CyberPitz]

Yeah, loss of jobs are bad, but when you run a company HORRIBLY for so long, you kinda start deserving these things.

 

[jet_porkins]

uuuuuh? If anything, the free market has spoken.

Capitalism is the free market.

 

[Warped]

My sister just bought a Cobalt last week really cheap. I bet GM will rebound within 2-3 years

 

[AJ Rimmer]

GM now becomes the albatross around the Obama Legacy's neck.

"Look, when we said we wanted to bring you change, you really should have asked us to be more specific. Really this is your fault, not ours."

 

[Eejit]

My sister just bought a Cobalt last week really cheap. I bet GM will rebound within 2-3 years

Are those two sentences meant to be somehow related?

 

[MJ12]

His sister will be the messiah of GM.

 

[AKIRA]

His sister will be the messiah of GM.

his sister will eat GM and shit out Chrysler

 

[Diesel_Power]

Capitalism is the free market.

I thought capitalism was about the government controlling the spending?

 

[Dalamari]

his sister will eat GM and shit out Chrysler

I ****ing laughed

 

[Rico]

I thought capitalism was about the government controlling the spending?

You might be thinking of communism.

 

[speedbump]

"Look, when we said we wanted to bring you change, you really should have asked us to be more specific. Really this is your fault, not ours."

-sounds like what most of my neighbors are expressing. "I didn't think he'd be doing this kinda stuff.

 

[theotherguy]

I thought capitalism was about the government controlling the spending?

Capitalism is an economic system whereby the principal means of motivation is "capital," or wealth. In a capitalist system, people use capital to make goods and services, and then sell them for a profit, and then turn the profit into capital to make more goods and services.

Capitalism does not necessarily require a free market, but it is most often found where markets are free.

Government-controlled spending occurs mostly in communist or socialist systems, where the main force of motivation is "communal" (in comunism) or "social" (in socialism). In communist systems, the government is declared as the supreme overseer of goods and services, and use taxes to produce them. In socialism, the government only produces goods and services which are deemed "public" and "necessary," like water, electricity, or healthcare.

 

[McGooTheWise]

That's you Economics lesson for today.

 

[Robert-]

Goddamn, GM. Big loss.

 

[repiV]

Yeah, of course it's a shame when a massive name and big employer goes tits up, but what can you expect when they make shit cars that noone outside America ever buys. When the tough times come they're in trouble.

Ford certainly won't be following down the same path...

 

[VirusType2]

You ******s killed the legendary Corvette. For this, you shall never be forgiven.

 

[jimbo118]

''As ranked by total assets, the bankruptcy is the fourth-largest bankruptcy in U.S. history, following Lehman Brothers Holdings Inc., Washington Mutual, and WorldCom Inc.''

 

[kepler]

I thought capitalism was about the government controlling the spending?

No. Capitalism = Free Market. When the government takes control, it is either socialism or communism, depending on the degree to which they control it. The U.S. has some socialistic programs, but not as much as some other countries. China and Cuba are full-fledged communist countries. The current and former US administrations began the current economic recovery plan very reluctantly, because the United States in general wants the greatest freedom possible in its economy.