[ClayinVA]

What a joke, I can’t wait for every other company in the US to try this. Tons of debt, no problem, just write it off in a quick reorg.

[kellynla]

Now, I can go buy one of these. BIG SMILE

[demsux]

I’ve never bought a “foreign” made car...now I’ll never buy a UAW made car...what a “change”.

[Constitution Day]

General Motors Corp. appeared headed toward a record-short escape from bankruptcy protection Thursday despite a last-minute appeal that a legal expert said was unlikely to stand in the way."

"He expects GM to close the deal and emerge from bankruptcy on Thursday in 39 days, a record for a company its size, he said.

Oh, what joyful rejoicing! What a miracle! All it took was throwing billions of OUR MONEY at the problem!

Hooray for us.

[MortMan]

There is NO LONGER such a thing as secured credit.

Bonds are unbonded.

The seals are breaking on financial armageddon.

[Wuli]

So, on which side of the ledger is the taxpayers’ current share of GM to fall - the new side, new company, that’s shedding all the liabilities or the old side, the original GM that’s being left with most the debt?

[razorback-bert]

Why not, they now have the deepest pocket backing them.

[RckyRaCoCo]

Haven't read through the whole thread so I'm sure it's been said already.

Now the UAW and it's goons can steal all of that juicy bail-out money, give a good portion to democrap candidates...and live off the interest in style.

You don't have to fool all of the people all of the time, just the majority of idiots...plenty of those to go around in this country, just look at the last 2 elections.

PT Barnum would be proud.

[La Enchiladita]

I thought they didn’t need bankruptcy, now that the government (we the people) bailed them out and they answer to Soetoro and Geithner.

If they had had to really go bankrupt, it would have broken the union.

Labor unions, according to Sen. DeMint, are the largest lobby in D.C. Hence.....

[edge10]

Thanks to Zero for ‘forgiving’ their debt (by what freaking authority I don't know). Your tax dollars down the GM rabbit hole, paybacks to his Union buddies.

I am a huge Corvette fan, use to own a 77, never again will I own a Government Motors car!

[EGPWS]

Sweet deal for Fiat.

I prefer to have more personal control over how and with who I spend my hard earned money however.

[M. Espinola]

'Obama's not hiding under here.'

[CMS]

GM can suck my sweaty nut sack.

Now that the gov't is the MAJORITY shareholder THEY will dictate what will go on with production.

If you think that they [either GM or the govt] will honor ANYTHING that they say then you are very gullibe. GM is in the business to make a profeit and they will say whatever they can to bring in buyers to achieve that goal. And If they don't the govt will just throw more of your and our money at them.

Oh and as for your comment on a another page about performance vehicles being produced for many years...here is a little gem from a news conference in MAY 2009---For 2016 -- the final year new the rules will apply -- the fleet fuel efficiency standard for all domestically sold passenger cars will be 39 mpg------------Now I don't know about you but I don't think the ZR1 (or any performace car)has or will get that kind of fuel efficiency.

But you are free to choose to buy what you want in this country.

I have the right to disagree with you and I will choose to buy Honda, Mazda, Toyota, or Nissan.

[Munz]

and the question is, why couldn’t they have been allowed to do this in the first place instead of taxpayers getting into the auto making business.

No, king obama had to get his hands in the auto industry before they were “allowed” to act like a failing business so he controlled it and paid off the UAW.

[kimmie7]

Fox just interviewed a mining company that lost GM’s contract..while GM retained contracts with Russia and South Africa.

Isn’t someone we all know visting both of those places this week?

Makes me want to don a tinfoil hat.

[Bluestateredman]

“Without the loans, its executives have said the company would have been sold off in pieces.”

The money quote from the whole article. This outcome would have been more favorable in the long run.