6 hours ago
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Does this video scare you? - ♫ Rahsheen™
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yes and no. it does because of GM et al go under, that's an entire %age, maybe 2%age points of GDP down the tubes. but this is also cyclical. businesses and jobs come and go. it hurts in the short term, but eventually things work out. besides, it's not like it's impossible to start another auto manufacturing company. look at tesla and tata. - tiffany
I agree with tiffany, I think if GM goes under, that will set the stage for Toyota, Honda, or even a new, more effectively run company to take over and open at least some of those jobs back up - Shey
I just don't believe they will go under completely. It sounds ludicrous to me. If things are that bad that they will totally shut down without a bailout, the foundation must be gone and we need to start over anyway. I agree, hard times now for better times later. We're obviously doing it wrong, so this is a chance to get it right. - ♫ Rahsheen™
they've got about $6 billion in cash, $7 billion in secured debt, and $45 billion in *total* debt. their options are bankruptcy and bailout right now. but if they file chapter 11, that means somebody has to make them a loan so they can restructure the terms of their debt. and uh, nobody is doing that. (listening to a podcast about GM right now, which is why i know these facts seemingly off the top of my head) - tiffany
We can loan $25B and never get it back, and then wait for another couple of months for the next ask... or you can downsize, optimize, make better products and become profitable on your own. - Jorge Escobar




