GM Assets Could be Liquidated if July 10 Deadline for Sale Agreement Isn’t Met

[Soup]

If GM’s bankruptcy isn’t finished by July 10, the U.S. Treasury Department could stop financing the restructuring. Fritz Henderson, President and CEO of General Motors, testified on Tuesday that if the sale of GM’s good assets to a new company isn’t approved by the U.S. Bankruptcy Court in time, the government could force a liquidation of all assets.

GM Assets Could be Liquidated if July 10 Deadline for Sale Agreement Isn't Met | PriceWheels Blog

[Memphis]

They need to get on that shit

[bmxer99]

i say **** it, let them go under if they are being this godamn stupid about it. I had their backs in the beginning, but goddamn this is just asinine and ridiculous. Survival of the fittest

[EVILZ33]

true that its like they dont even give a **** anymore

[bmxer99]

agreed, and personally i think its a crock of shit we as the taxpayers get to pay to bail them out 40 billion... not originally 10 billion and they pay it back, i was okay with that. but now its like wow, im not getting discounts on corvettes am i?? no im not so wtf am i getting out of this?

[American Psycho]

^ Gm's resell value sucks anyway. That's your discount

[UKunt]

it said on the news GM was down 45% in sales .even after they we given billions...given billions and still making crap cars...serves them right....

big props to ford.for not needing mummy to help them out with money.and to only lose 14% sales.

[Memphis]

I believe they've gotten money now too. Shit Porsche is on the verge of bankruptcy lol

[UKunt]

ahh on the new is said ford was the only one not to get money and the only ones not to have a 40% in sales.

why GM need billions to make cheap cars i dont know..they hardly set the world on fire with new tecnoligy.push rod engine and leaf springs...1960s shit still going on.

[Memphis]

From what I read the other day Ford, Nissan and Tesla will be getting money to develope electric cars. I think the Corvette is the only car they have that has leafs and it does pretty damn well with them its amazing how these primitive pushrod engines wreak so much havoc, more complicated does not = better.

[UKunt]

well yer it may be good over there.but people over in europe dont want shit from the 50s.hence why none of the fukers sell here. dont you think the germans/italians cant make a pushrod engine? they choose not to as it s old shit.move on make somthing better.

somthing new means pepole will want to buy it....a corvette with a new plastic shell and bigger engine isnt setting the world on fire...thats the reason why people diss american cars...its been the same shit since the 60s.just now with more plastic.

[Memphis]

Sigh.. the OHC engine is only like 10 years newer than the first OHV.

[UKunt]

Originally Posted by Memphis

Sigh.. the OHC engine is only like 10 years newer than the first OHV.

well you know what i mean. there still using pushrod engines and leaf springs.

i hope GM dont go under tho