Page 1 of 2 12 LastLast
Results 1 to 10 of 14

Thread: GM bankruptcy plan eyes quick sale to gov't

  1. #1
    Sage
    Renae's Avatar
    Join Date
    Aug 2007
    Location
    San Antonio Texas
    Last Seen
    10-23-17 @ 10:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    38,972
    Blog Entries
    15

    GM bankruptcy plan eyes quick sale to gov't

    By Chelsea Emery and Tom Hals

    NEW YORK, May 19 (Reuters) - General Motors Corp's (GM.N) plan for a bankruptcy filing involves a quick sale of the company's healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday.

    The source, who would not be named because he was not cleared to speak with the media, did not specify a purchase price. The new company is expected to honor the claims of secured lenders, possibly in full, according to the source.

    The remaining assets of GM would stay in bankruptcy protection to satisfy other outstanding claims.
    CORRECTED - UPDATE 1-GM bankruptcy plan eyes quick sale to gov't | Deals | Mergers & Acquisitions | Reuters

    No, Obama doesn't want the GOVERNMENT to make our cars.. no of course not right?

    Right?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  2. #2
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 08:19 PM
    Lean
    Very Liberal
    Posts
    93,340
    Blog Entries
    2

    Re: GM bankruptcy plan eyes quick sale to gov't

    The board of the new company would be established with the tacit approval of the government. Fritz Henderson, who took the helm of GM earlier this year after the government pushed out Rick Wagoner, would likely head the new company, the source said.
    I think(and hope) that the government is just a stakeholder, with an aim of propping up GM, and that they would not make active management decisions for GM. If they stay entirely out of making management decisions, this is not horrible, though I would prefer that the government did nothing except help mediate the restructuring.

  3. #3
    Dispenser of Negativity
    Cold Highway's Avatar
    Join Date
    May 2007
    Location
    Newburgh, New York and World 8: Dark Land
    Last Seen
    12-24-12 @ 11:21 PM
    Gender
    Lean
    Libertarian
    Posts
    9,596
    Blog Entries
    7

    Re: GM bankruptcy plan eyes quick sale to gov't

    When I think of the Federal Government making and maintaining cars I think back to when Sears had all those problems back in the early 90s with putting wrong parts in cars which they got sued for by the way.
    Jackboots always come in matched pairs, a left boot and a right boot.

  4. #4
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 08:19 PM
    Lean
    Very Liberal
    Posts
    93,340
    Blog Entries
    2

    Re: GM bankruptcy plan eyes quick sale to gov't

    Quote Originally Posted by chevydriver1123 View Post
    When I think of the Federal Government making and maintaining cars I think back to when Sears had all those problems back in the early 90s with putting wrong parts in cars which they got sued for by the way.
    Sears put the wrong parts in cars? I missed that story. What happened?

  5. #5
    Advisor FlappyTheKinkajou's Avatar
    Join Date
    May 2009
    Last Seen
    07-23-09 @ 07:49 PM
    Lean
    Undisclosed
    Posts
    406

    Re: GM bankruptcy plan eyes quick sale to gov't

    The article says that the company was "initially" owned by the government. Is the company still owned by the government now?
    Let's figure it out.

  6. #6
    Dispenser of Negativity
    Cold Highway's Avatar
    Join Date
    May 2007
    Location
    Newburgh, New York and World 8: Dark Land
    Last Seen
    12-24-12 @ 11:21 PM
    Gender
    Lean
    Libertarian
    Posts
    9,596
    Blog Entries
    7

    Re: GM bankruptcy plan eyes quick sale to gov't

    Quote Originally Posted by Redress View Post
    Sears put the wrong parts in cars? I missed that story. What happened?
    Here are something to chew on

    Rip-off Report: STS Tire & Auto Bad Business Practices Possibly PepBoys too Tri-State NJ, PA & NY
    Jackboots always come in matched pairs, a left boot and a right boot.

  7. #7
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 08:19 PM
    Lean
    Very Liberal
    Posts
    93,340
    Blog Entries
    2

    Re: GM bankruptcy plan eyes quick sale to gov't

    Quote Originally Posted by chevydriver1123 View Post
    Oh, I forgot about Sears selling tires and such.

  8. #8
    Sage
    akyron's Avatar
    Join Date
    Nov 2004
    Location
    Texas
    Last Seen
    Today @ 04:40 AM
    Gender
    Lean
    Other
    Posts
    6,474

    Re: GM bankruptcy plan eyes quick sale to gov't

    Someday we will learn the government screws up just about everything.
    Thank you

  9. #9
    Sage
    Harry Guerrilla's Avatar
    Join Date
    Dec 2008
    Location
    Not affiliated with other libertarians.
    Last Seen
    09-01-17 @ 02:38 PM
    Gender
    Lean
    Libertarian
    Posts
    28,955

    Re: GM bankruptcy plan eyes quick sale to gov't

    Quote Originally Posted by akyron View Post
    Someday we will learn the government screws up just about everything.
    I disagree, most won't learn that.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  10. #10
    Sage
    akyron's Avatar
    Join Date
    Nov 2004
    Location
    Texas
    Last Seen
    Today @ 04:40 AM
    Gender
    Lean
    Other
    Posts
    6,474

    Re: GM bankruptcy plan eyes quick sale to gov't

    Quote Originally Posted by Harry Guerrilla View Post
    I disagree, most won't learn that.
    Someone figured it out a few times.



    A revolution (from the Latin revolutio, "a turn around") is a fundamental change in power or organizational structures that takes place in a relatively short period of time. Aristotle described two types of political revolution:

    Complete change from one constitution to another
    Modification of an existing constitution.[1]
    Revolutions have occurred through human history and vary widely in terms of methods, duration, and motivating ideology. Their results include major changes in culture, economy, and socio-political institutions.

    Scholarly debates about what does and does not constitute a revolution center around several issues. Early studies of revolutions primarily analyzed events in European history from a psychological perspective, but more modern examinations include global events and incorporate perspectives from several social sciences, including sociology and political science. Several generations of scholarly thought on revolutions have generated many competing theories and contributed much to the current understanding of this complex phenomenon.
    Thank you

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •