General Motors is Bankrupt, Chrysler is Bankrupt

http://www.canadian-money-advisor.ca/archives/2009/02/general+motors+bailout+...
By definition, General Motors is bankrupt. They're insolvent, they can't pay their bills and nobody wants to lend money to them. That's the definition of bankrupt in my opinion.

http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+...

After General Motors was given a deadline to come up with a plan to become profitable again, they didn't.
Their plan is to ask to borrow more money from the federal government.

The manufacturer and retailer is here to serve the consumer not the other way around.

If General Motors can't become profitable and pay their debts, let them go bankrupt!!

Category:

News & Politics

Tags:

• rick wagoner is bankrupt
• monty loree
• canadian money advisor

[yangbob]

It's a good thing you told me , I was going to buy a new vehicle , but what's the sense now , I won't be able to get it repaired or get parts at the GM dealer.

[montyloree]

I get a sense that the part manufacturers will still provide parts.. but... for how long.?

These are the questions we don't know, because this has never happened in the recent history of the industry. (Many car companies have gone bankrupt in the past, but not to this extent)

[sebring98]

GM is finished.  It is March5/09, and today it was announced that there is no way for GM to survive on its own. ITS OVER PEOPLE, and Chrysler is finished also, but just a little later than GM. Too bad, I guess i have to ditch my 10yr old car for a nice new Nissan. Oh well hahah!

[montyloree]

Well... if you feel better buying a Nissan... why not...

there has been no talk of Nissan going bankrupt. that's pretty common sense IMO..

Even though my last two cars were GM products... I woudn't buy one now. Who wants to buy a car from a bankrupt company?

[SystemXpander]

Nissan may being going bankrupt??  This is the first time ive of this...u sure about that? theyre a lot more profitable then the big shit 3..

[montyloree]

read again... there has been NO talk of nissan going bankrupt

[bmay1000]

the only sticking point in this whole mess is that the rest of the automakers are not prepared with moving their tooling to other parts plants and other suppliers. ford, toyota, and honda have gone to bat for the the other two only because they are fearful of suppliers going bankrupt causing an interruption in the supply chain. other than that they would be well prepared to absorb market share. once obama gets his meat hooks into the design aspect its all over.

[amazingdany]

Man, GM-Chrysler is bankkrupt!

I never thought I'd see the day where such a huge iconic car company would have to face that kind of extreme decision!!!

Will GM go bankrupt, never come back and leave the Asians and Europeans to battle for market share for the rest of time?

[AMDkicksass]

i hope gm makes it but i hope crysler goes bankrupt im tired of their unreliable death traps

[bobzippy]

How can you tell if General Motors is profitable in Canada?

[stevecurwin]

GM is Better here in Canada

not Bankrupt at all

[sebring98]

Hi, Im having doubts about buying anything new now. I just looked at all kinds of new models from different brands and quite frankly,,,..I think they're all REALLY UGLY ...lol! Oh well, Im going to keep my old beast because it still runs fairly good and its not rusty either! =)

[SystemXpander]

oh my bad i over looked the "no". lol i was gonna say nissan makes the best fuggin cars in the world next to toyota theres no way..