Will the GM bankruptcy effect you?

[Duffster]

Government health care would fix a lot of the problems in this country, NOT insurance, actual health care.

BUT people don't want to hear that, even though 66% of bankruptcies in this country are from health problems.

The government provides, police, fire, education to most people and health to a LOT of US people . . the active armed forces.

Wow, not very good examples

 

[rcrcomputing]

Toy, I apologize for calling your post BS. I simply meant I strongly disagree but I did not have to say it that way.. Please accept my apology.

 

[EddieWalker]

Back to the original question. I'm sure that the bankruptcy will affect me to some degree in how the government works and the debt it incures over this. I'm also concerned over what they will do about the competition if/when GM loses more and more money.

I've also been looking at buying a 3/4 work van from either GM or Ford. I've looked at and driven both without really have a firm decision on which I liked better. Both would do the job, so it was more of financing and saving up more money. Now that the government has taken over GM, I don't want anything to do with them.

Eddie

 

[jimmyj]

I live under an hour from Oshawa Ontario where there is a major GM factory. The cities around Oshawa pretty much all have workers from the plants. Now that the truck plant is shut down, who knows what will happen to local restaurants, stores, etc. My neighbor already lost his job when the auto parts stamping plant he worked in for 40 years went bankrupt.

It's going to impact a lot of our lives for sure, but I think we have to suck it up. This was so forseeable and the world will survive. Sure, there will be some hardship for a while and that is very sad and tough on the people involved. The worst will be people who never saved for retirement because they were counting on pensions that will never materialize.

I won't shy away from GM or Chrysler vehicles just yet, but I'll admit I'll have a long look at Ford and Toyata before I make my next truck purchase.

Good luck to those folks who are losing their jobs, I hope they get through it.

 

[jdbower]

Not much new here, but perhaps it's worth posting:
How GM's bankruptcy affects you - Los Angeles Times

 

[2manyrocks]

I suppose we could look at how the Chrysler chapter 11 is already affecting some folks and get a small preview of what may happen when GM files. I think GM will have a bigger impact because it is a bigger company.

 

[buckeyefarmer]

Would that be GM as in Government Motors?

 

[toy]

I think that it is time for all Americans to set our differences down look at the problems that we are having and try to use some good common sense to develop a plan to revitalize our country not the world. I want all nations to do good and their people prosper but I am not a supporter of the one world order, I think it is a huge mistake and it is going on right under our nose and we are not alert enough to be paying attention. My allegiance is to my country and any one of you can go to your closet and look at the labels of the clothes that your have and where they are made and you can look at the shoes and where they are made and especially those that are on social security and drawing a pension go out and look at the vehicle sitting in your driveway and if you have the window sticker what percentage is made in our country or a country with like living standards, go to the stores and look at where all the products are being made at and a lot of our young people are trying to raise a family on minimum wages taking both the husband and wife working to make ends meet and it ought to be obvious why our country is in the mess it is in and instead of ten high paying workers paying the bennefites for one retiree you only have two or three. Dozens of workers hurt or killed just this week in one country, I hope our country don't drop to the level of not caring about it's workers, it's a disgrace if it does. Other countries that put taxes on all products sold to cover the health care of it's people is in effect making our exporters to their country pay for their health care, while we bicker about it. If you are going to sign trade deals with them at least try to use some common sense, the way our traders have been doing is like going to a watch drop and our traders are bringing new rollex watches while the other side is using duds in their drop. I don't know of a country that we trade with that we have a trade surplus. It has nothing to do with the quality of the product, it has to do with the standard and cost of living. Oh yes by the way I think that we have a lot of hard working people in America even though we mostly notice the duds and make comments about them.

 

[riptides]

We have done pretty good so far. After all we rebuilt many a nation after major wars. Our track records for human rights, economic and domestic expansion are pretty solid. Our values and morals are strong. Our way of life is the envy of half the planet.

I see no reason why we cannot continue to florish. Our government always seems to end up doing the right thing.

All we need to do is have some accountability and some common sense in the money sector. That goes from Wall Street to Main Street, and yes, the Government needs to get involved a little more. Or at least listen to people who see the wrong and take action.

I really don't care about GM. And I don't understand what the big deal is if in a true market economy they were to go away. The reality here is hard for a lot of people to understand. Pensions, retirement planning, and jobs from companies are not guaranteed to last forever.

 

[2manyrocks]

Well, the economist John Maynard Keynes said that an economy would right itself in the long run, but then quipped that in the long run, we are all dead.

This thread is probably hanging by a thread if it veers off into politics.

I saw an article yesterday where a terminated Chrysler dealer was trying to figure out what he was going to do with the $200,000 of parts he couldn't return.