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August 01, 2014, 12:39:39 AM
HireScores.com Recruitment ForumForum CommunityNews & Information (Moderator: Forum Management)General Motors plans to go bankrupt
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Author Topic: General Motors plans to go bankrupt  (Read 1800 times)
Teddy
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« on: June 02, 2009, 08:46:01 AM »

It's been in the news that General Motors will file bankruptcy.  How will this affect the economy?  Do you think this is a good move for the company?  Any thoughts?
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Bob
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« Reply #1 on: June 02, 2009, 02:19:36 PM »

I don't know so much about it but I guess they've had no choice but to do this. Have they?
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Robin Tetley
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« Reply #2 on: June 02, 2009, 04:47:11 PM »

I also don't know too much about it other than they will be able to recover after this somewhat so hopefully in the long term it will be the best thing. In the short term though and if you're a person who's lost his or her job in a depressed area like Flint (or Pontiac) Michigan for example there's no sight of "the best thing" just more unemployed folks.
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Timber
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« Reply #3 on: June 02, 2009, 09:12:56 PM »

Going bankrupt is the only solution.  However, keep in mind that a lot of people will be out of work because the company will be restructured.  That's better than everyone in the company out of work.  That would be a huge economice blow to the already weak economy. 
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Spinner
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« Reply #4 on: June 02, 2009, 09:19:22 PM »

I think General Motors is one of several other auto companies going bankrupt.  The next one might be Chrysler.  They seem to be having a lot of problems these days.

As for General Motors, they'll have to make several new changes.  Does anyone know if pensions and retiree health benefits will be affected?

Would anyone buy a General Motors car since the company is going bankrupt?
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Teddy
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« Reply #5 on: June 02, 2009, 09:23:35 PM »

My understanding is, G.M. workers’ pensions and health care benefits would transfer to the new company and remain in effect.

As far as buying a general Motors car after it's filed bankruptcy, I think some of the cars are going to be real bargains. For example, if a dealer is being forced to close, he will want to get rid of inventory quickly. So you should be able to find a car at a very reasonable price.
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Spinner
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« Reply #6 on: June 03, 2009, 10:31:35 PM »

I don't think many people will be buying general motor cars.  I think the cars they make are terrible and unreliable.  My friend had a GM car and it was in the repair shop all the time.  Your better off buying a Honda or Toyota. 

Does anyone agree?
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Bob
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« Reply #7 on: June 04, 2009, 02:51:54 PM »

Do GM have a connection to Vauxhall cars over here in the UK? I'm sure I heard on the news a couple of days ago talk of Vauxhall and whether it would be ok implying it was somehow linked to GM? I might have got that totally wrong though.
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Robin Tetley
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« Reply #8 on: June 05, 2009, 03:37:00 PM »

It seems there is a connection. I've only skim read this BBC News article but it makes for an interesting read. I hope it helps.
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