Breaking News! GM reports $4.2 billion dollar loss

GM, world's largest carmaker, reports $4.2 billion loss and warns it is running out of money. (CNN)

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Permalink Reply by Brad Williams on November 7, 2008 at 12:31pm
Do you really think the goverment will let that happen?
Permalink Reply by Blues on November 7, 2008 at 1:05pm
And the UAW employees will hit them for a raise....
Permalink Reply by Keith on November 7, 2008 at 1:33pm
Permalink Reply by brian campbell on November 7, 2008 at 1:44pm
bailout after bailout were is the money coming from?OH WAIT IT IS COMING FROM ME!!!
that should mean all tax payers should get free new cars.
Permalink Reply by Team Maranello on November 7, 2008 at 2:13pm
Brian Campbell, well said. Fundamentals of the business are wrong and they will never be competitive in the global market. An astounding 1/4 of retail price of a GM car goes towards funding current and ex-employee benefits. Where are they going to find the money for RD and or attracting new talent. Also, RD money is soo important as the alternate fuel race is getting heated.

Personally, I dont see any American manufacturing being competitive as long as we have greedy healther care system that can suck the bottom out of any company.

The upside is to German manufactures getting into NASCAR as F1 has completely abandoned North America. Love to see BMW, Merc and Audi power plant make NASCAR a little more exciting,

My personal dilemma is Robby Dakar attempt in Jan 09. With GM is the red and looking to dispose off Hummer, wondering how much support Robby is getting from GM to get his Hummer battle hardy. I really need him to kick some Volk/Mitsu ass this Jan. Cant wait to see that hummer power slide thru the Pampas.
Permalink Reply by deantac on November 7, 2008 at 3:54pm
Shame on those UNIONS keeping people from buying cars. Damn UNIONS ruined the housing market. hope the UNION doesn't hurt NAFTA. oh i gotta go forgot i have UNION meeting, we're sacrificing baby goats. mmmmmm
Permalink Reply by john mcglasson on November 7, 2008 at 5:12pm
Go UAW! Yay!
Permalink Reply by john mcglasson on November 7, 2008 at 5:14pm
$25 BILLION of the bailout is to pay for healthcare obligations to UAW employees who retired 20 years ago. Good plan.
Permalink Reply by john mcglasson on November 8, 2008 at 5:00am
That's Twenty-Five-Thousand Million Dollars.
Permalink Reply by Lance on November 7, 2008 at 8:24pm
You know, I really think this all ends up in GM, Ford, and Chrysler filing for bankruptcy. I read an article recently which said that was a better option than merging.I think since the merger is off and a bailout won't work longterm anyway, that's the road we'll go down.
Permalink Reply by Ms Gibby on November 8, 2008 at 4:22am
How about a big fat pay cut for the fatcat CEO's who can't run these companies but still get paid zillions????
Permalink Reply by Lance on November 8, 2008 at 8:57am
AMEN! I'm sick of these guys getting MILLIONS when they're companies are failing. Where else in the world does that happen (except at Micheal Waltrip Racing). Bob Nardelli is the classic example. Make millions, run Home
Depot into the ground, go to Chrsyler and make millions whil they flounder. It's unbelievable.

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