GM filing for bankruptcy - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 44 (permalink) Old 05-17-2009, 04:21 PM Thread Starter
BenzWorld Elite
 
Date registered: Feb 2007
Vehicle: 300SD
Location: Florida, USA
Posts: 11,191
Mentioned: 0 Post(s)
Quoted: 62 Post(s)
(Thread Starter)
GM filing for bankruptcy

I just got this info from a reliable source on GM truck forums. GM is filing for bankruptcy on 1 June 09. Too bad it had to come to this.
p100 is offline  
Sponsored Links
Advertisement
 
post #2 of 44 (permalink) Old 05-17-2009, 04:37 PM
Lifetime Premium Member
 
Musikmann's Avatar
 
Date registered: May 2006
Vehicle: 2001 E320 - Brilliant Silver/Ash: 107,000+
Location: West Virginia, USA
Posts: 17,193
Mentioned: 0 Post(s)
Quoted: 6 Post(s)
Lifetime Premium Member
Ouch, GM too? Chrysler I could understand but now this. I'm betting that they reorganize and dig themselves out eventually.

Mercedes Benz - Das beste oder nichts!
Musikmann is offline  
post #3 of 44 (permalink) Old 05-17-2009, 04:38 PM
Surely A Large Human
 
Qubes's Avatar
 
Date registered: Jun 2006
Vehicle: '08 C219
Location: Between Earth and Mars
Posts: 34,621
Mentioned: 5 Post(s)
Quoted: 640 Post(s)
Lifetime Premium Member
Good. They can be rid of the onerous union contracts that have served to ruin them for the past 50+ years.
Qubes is offline  
post #4 of 44 (permalink) Old 05-17-2009, 05:13 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
They are in a better position now than four months ago but it is still going to slam a bunch of small businesses that don't need their contracts or AP "adjusted".

As for the unions, the pensions are guaranteed by the government so we pay either way, no value add to that.

It will help them break dealer contracts as they contract dealer footprints, a necessary evil but one that, as we have seen will have a pretty big impact on a bunch of local economies and more shrinking of Federal, State and local Tax Bases.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #5 of 44 (permalink) Old 05-17-2009, 05:32 PM
BenzWorld Elite
 
jdc1244's Avatar
 
Date registered: Jun 2003
Vehicle: 1991 300 SE
Location: Lakeland, Florida
Posts: 18,534
Mentioned: 0 Post(s)
Quoted: 1 Post(s)
Quote:
Good. They can be rid of the onerous union contracts that have served to ruin them for the past 50+ years.
Agreed that the end of the Legacy obligations will be beneficial but it can be argued that had GM and the others been more responsible to workers’ needs 100 years ago the unions would not have come into existence – the UAW is in essence Detroit’s creation.

However symbolic I believe it is important for a First World industrial nation to have the capacity to engineer and build domestic cars. GM has never competed with the World market – moving from de facto monopoly to being behind the Japanese and Germans by the 70s. Perhaps this will have a kind of World War II effect: tear down the American auto industry and rebuild from scratch with a dedication to world-class design and quality. We will indeed see but I am not encouraged.
jdc1244 is offline  
post #6 of 44 (permalink) Old 05-17-2009, 05:35 PM
Forum Administrator
RC Colas & Moon Pies
 
Digmenow's Avatar
 
Date registered: Oct 2006
Vehicle: 1981 380SL 151K: 2001 E320 4Matic Estate 147K: 2008 E350 Sport 4Matic 120K: 2005 S500 116K
Location: The Land of Pleasant Living
Posts: 37,682
Mentioned: 13 Post(s)
Quoted: 1638 Post(s)
Lifetime Premium Member
Garage
Quote:
Originally Posted by mcbear View Post
They are in a better position now than four months ago but it is still going to slam a bunch of small businesses that don't need their contracts or AP "adjusted".

As for the unions, the pensions are guaranteed by the government so we pay either way, no value add to that.

It will help them break dealer contracts as they contract dealer footprints, a necessary evil but one that, as we have seen will have a pretty big impact on a bunch of local economies and more shrinking of Federal, State and local Tax Bases.
That would probably make the smaller governments more dependent on the larger entities as their limited coffers are drained with no recourse such as the ability to create funds by printing more money, no?

Quis custodiet ipsos custodes?

Digmenow is online now  
post #7 of 44 (permalink) Old 05-17-2009, 06:22 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Digmenow View Post
That would probably make the smaller governments more dependent on the larger entities as their limited coffers are drained with no recourse such as the ability to create funds by printing more money, no?
Or they raise sales taxes and property taxes and utility taxes and school taxes and other levies to insure cashflow for both essential services AND the growing social services as more and more folks move from middle class to the poverty class.

Then they will ask for money from the Federal government. Does anyone want to guess just how much cheaper it would have been to just have worked quicker and smarter to help keep the car companies in business?

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #8 of 44 (permalink) Old 05-17-2009, 06:22 PM
BenzWorld Elite
 
Haku's Avatar
 
Date registered: Nov 2006
Vehicle: 1996 S320 (Kuro) 1998 S600 (Weiss)
Location: Japan
Posts: 2,876
Mentioned: 0 Post(s)
Quoted: 4 Post(s)
Send a message via MSN to Haku
yay!
Haku is offline  
post #9 of 44 (permalink) Old 05-17-2009, 06:24 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Haku View Post
yay!
Does anyone know the Japanese word for backlash?

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #10 of 44 (permalink) Old 05-17-2009, 06:35 PM
Forum Administrator
RC Colas & Moon Pies
 
Digmenow's Avatar
 
Date registered: Oct 2006
Vehicle: 1981 380SL 151K: 2001 E320 4Matic Estate 147K: 2008 E350 Sport 4Matic 120K: 2005 S500 116K
Location: The Land of Pleasant Living
Posts: 37,682
Mentioned: 13 Post(s)
Quoted: 1638 Post(s)
Lifetime Premium Member
Garage
Quote:
Originally Posted by mcbear View Post
Or they raise sales taxes and property taxes and utility taxes and school taxes and other levies to insure cashflow for both essential services AND the growing social services as more and more folks move from middle class to the poverty class.

Then they will ask for money from the Federal government. Does anyone want to guess just how much cheaper it would have been to just have worked quicker and smarter to help keep the car companies in business?
That sounds suspiciously...like a "plan"'

Quis custodiet ipsos custodes?

Digmenow is online now  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Topic Author Forum Replies Last Post
Filing a complaint about a dealership xxnonamexx W204 C-Class 10 03-25-2013 06:47 PM
Bankruptcy Bowl Qubes Off-Topic 3 12-14-2008 06:02 PM
Filing Complaint Against MB USCRugbyNo1 General Mercedes-Benz 44 09-27-2006 08:10 PM
Filing Complaint Against MB USCRugbyNo1 C209/A209 CLK-Class 5 07-06-2006 11:57 AM
Trademark filing BrentG500 G-Class 2 03-05-2005 01:52 AM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 

Title goes here

close
video goes here
description goes here. Read Full Story
For the best viewing experience please update your browser to Google Chrome