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[Poll]
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General Motors: Almost out of Cash
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| General Motors have no one to blame but themselves |
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| Our Economic Crisis |
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| High Oil Prices |
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| Japanese & European Imports |
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| All those GM Gas-Chugging Vehicles |
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| Corporate Greed |
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| The Current Government |
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| Other |
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Total Votes : 13
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(last vote on : 11/10/2008 10:16:37 AM)
(Poll will run till: -- )
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General Motors: Almost out of Cash - 11/9/2008 10:52:10 PM
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Johnny_
Posts: 395
Joined: 11/26/2006
From: California
Status: offline
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I saw this today on CNN. Analysts warn General Motors will need to get approximately $20 billion in federal assistance in order to avoid bankruptcy by 2010. Wall Street is urging the government to take action. Who is to blame for this colossal failure at General Motors?
http://money.cnn.com/2008/11/07/news/companies/gm/index.htm?postversion=2008110716
< Message edited by Johnny_ -- 11/9/2008 11:14:54 PM >
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RE: General Motors: Nearly out of Cash - 11/9/2008 10:54:59 PM
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Miss Giggles
Posts: 4395
Joined: 4/18/2005
From: MI
Status: offline
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A long history of poor management, too high operating costs and a failure to compete head on with the Japanese. The credit crunch and slow economy is what will break them.
< Message edited by Miss Giggles -- 11/9/2008 11:01:23 PM >
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RE: General Motors: Nearly out of Cash - 11/9/2008 11:47:46 PM
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Preludeian
Posts: 127
Joined: 5/19/2008
From: Portland Metro Oregon
Status: offline
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Someone should of cut the Union leech years ago. Unions have no sense of time.
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RE: General Motors: Nearly out of Cash - 11/10/2008 12:15:59 AM
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stellaluna
Posts: 4407
Joined: 4/11/2005
Status: online
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I chose corporate greed, because most everything boils down to greed.
I absolutely do not support a bailout of the automakers. Period. I think I'll let my legislators know that, while I'm thinking about it.
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RE: General Motors: Nearly out of Cash - 11/10/2008 12:31:20 AM
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SonInMe1
Posts: 3164
Joined: 4/16/2005
From: my mom by God
Status: offline
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Maybe this will be Obama's opportunity to purchase an auto company for the government.....eh?
.....or is that...da?
_____________________________
You adulterous people, don't you know that friendship with the world is hatred toward God? Anyone who chooses to be a friend of the world becomes an enemy of God.
James 4:4
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RE: General Motors: Nearly out of Cash - 11/10/2008 9:12:08 AM
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rlj
Posts: 2348
Joined: 4/14/2005
Status: offline
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I feel dirty saying this but they have no one to blame but themselves. Around the time of the Chrysler bailout the problems with the big three were poor quality and low fuel mileage. 30 years later they are in trouble again because of poor quality and low fuel mileage. While the quality is MUCH improved over the last 30 years it doesn't change the fact that they still lag behind Toyota and Honda whose cars are as often as not made in America by American workers. The reality though is they have been consistently putting out gas guzzling vehicles for years.
As for another bailout? Why not? It seems that Dubya loves giving out other people's money.
_____________________________
-Roger
I could wile away the hours
Conferrin' with the flowers
Consultin' with the rain
And my head I'd be scratchin'
While my thoughts were busy hatchin'
If I only had a brain
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RE: General Motors: Nearly out of Cash - 11/10/2008 9:32:39 AM
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Miss Giggles
Posts: 4395
Joined: 4/18/2005
From: MI
Status: offline
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GM is most likely going to get bailed out because 1 out of every 10 jobs are related to the auto industry.
Ford might survive, might not
Chrysler will get bailed out or sold off in pieces. No one wants the entire company, just the jeep line.
Either president doesn't want to have that kind of levels of unemployment happen.
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RE: General Motors: Nearly out of Cash - 11/10/2008 9:33:29 AM
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mrtigger
Posts: 321
Joined: 4/12/2005
Status: offline
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It's GMs fault.
The problem it seems is failure to look much beyond this or next quarters financials. When a company is mainly fixated on short term results, eventually they will go down the wrong business path and bankrupt themselves. That's what I believe happened at GM.
Excessive fixation on short term financials is common these days and is a significant part of our nations business woes I think.
_____________________________
mr tigger
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