The image in the linked article is appropriate:
Posted on 04/22/2009 10:08:01 AM PDT by Spktyr
GM DEFAULTS (GM) Joe Weisenthal|Apr. 22, 2009, 12:41 PM|
This was only a matter of time. Everyone from inside and outside GM assumed that the company would default on its debt and likely go bankrupt barring some miracle.
But now it's official. The company's CFO says the firm will not make its June 1, $1 billion debt payment according to the {Wall Street Journal}.
The announcement comes as smaller rival Chrysler appears headed for liquidiation.
The image in the linked article is appropriate:
Wow, didn’t see that coming. I’m shocked.
/sarc
Oops! Well, now that we the taxpayer hold significant “shares” of GM, and they have defaulted on the loan we gave to them, I guess we can take them to court right?
And then they can declare bankrupcy so they won’t have to pay their creditors (meaning us).
See how nicely that bailout worked? EVERYBODY’s happy.
< /sarc >
Go Ford!
Meanwhile, Obama is giving Government Motors another $5 billion of our money, to buy votes. Not sure, but I think that makes a total of $22 billion in welfare spending on GM alone.
Maybe he plans for them to become his Civilian Security Force, or whatever.
Helen Keller could see it coming and react better than this administration has.
Shocking that the same company that thought this would be a good vehicle design is having some financial "issues"
Stock will probably go up...here in bizarro world
GM pensioners would like to thank the American taxpayers in advance for their pensions while GM skips off to their new operations in India and China... thus leaving Americans holding the bag.... >sarc
Conservatives must start pressuring GM and Washington to restructure GM in ^bankruptcy COURT^, not some socialist-manipulated structuring that doesn’t impact the UAW!
I don’t get it.
When The Messiah was elected, all of our troubles were supposed to disappear while we played with unicorns and ate cotton candy all day.
I’m starting to become disallusioned here.
They’re doing a debt exchange, which will retire the old debt and replace it with new debt which won’t have a first payment for 6 months.
Now the foreigners get to pick up the pieces. Japs and Korean will come out great because their competition has imploded and the green plans of retards like 0bama won’t pan out for GM....Not that he cares much anyway
0bomo is a sociopath not some idealist green or otherwise. If he can make America crash hard he will be loving it. He would love to rule over an impoverished rabble same as Stalin. He just knifed the CIA in the back and he will do it to America too.
Shorts are buying back.
He'll make each and every one of them a czar of something.
So many czars needed and so few people to fill the positions.
Yup...and, you'll get to pay all those union retirement benefits that are 2X better than anything you'll ever see.
Hey, watch it....I paid EXTRA to get that color paint..
WTF is going on in the markets? This is beyond crazy.
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