Running on fumes: GM could soon run out of cash

Good enough for 'em!  In any other industry, except apparently the mortgage trade, companies are held to a higher standard. Detroit is the only American city I am aware of where you can buy a home for less than $2000.00, total. There are thousands of them (all bank owned) in a city that was abandoned when the automakers took operations out of the United States. Whether you drive an American named car or not, you're driving an automobile that was partially built on foreign soil. Lets just make it honest and buy them direct.

Sacrificing these corporate dinosaurs seems trivial when I look around my rural neighborhood. Construction is at a standstill, consumerism has all but stopped and people are losing their homes. The $700billion bailout we keep hearing about has brought our town hope but so far there's nothing tangible about it. If President Obama wants my vote (again) in 2012 then we need to see jobs and relief, not ridiculous corporate parachutes.

Let GM and Chrysler die the free market death

the now $65 billion these guys want can be better spent on unemployment while job training and relocation for the employees is underway.

F*** GM as well as any other company which sidles up to the public teat because their past bad financial decisions (and crappy cars) caught up with them.

A market economy is like an ecosystem - a brutal but also beatiful thing.  Those companies which offer goods and services that people want at a price they are willing to pay, stay and thrive.  Those which don't need to be cleared away like dead underbrush, to make room for better-run upstarts.  Let GM die, and let its workers be snapped up by other automakers who will put them to better use building better cars.

I realize there are those who think of GM as an institution, but they should consider that not bailing out GM will either make it stronger, or will make room for NEW institutions to take its place.

I share your anger, but I'm concerned about what this could do to Detroit, a city that is already on the ropes. Governor Granholm has been clear about the impact the failures of these two domestic automakers could have in Michigan.

We have to invest in our future.

Why dont we hear anything about the unions and possible concessions? 

But, by losing Ford we lose a part of our history of America.....

It'll be a sad to see them go.....

Regardless of your political leanings, I suggest anyone who wants a glimpse into the hat-in-hand situation of the auto industry watch Michael Moore's 1988 documentary "Roger and Me". In the mid-80's, GM and their counterparts were closing plants at historic rates while their CEO(s) were raking-in millions. It is evident nothing has changed.

It's unfortunate that the American auto industry is going down the tubes. It is due to their own greed and lack of foresight. They've spent the last 8 years peddling gas guzzling SUV's for short term dollars, instead of facing long term realities. I think it's pathetic that I can go to the green car company and buy a 10 year old electric Ford pickup... but I can't buy one from Ford.

The auto giants will go bankrupt and kick their retired people to the curb while the executives will get their golden parachutes.  The preferred stock owners and the management people with preferred stock options will share in the remains while us mutual fund owners will continue to get the shaft.

The world economy that was so highly praised was more of a world distribution of wealth at the expense of the American worker while the rich profited.

Mexico to provide multi billion dollar bailout for auto makers.  Yea right like that would ever happen.

GM's chickens are coming home to roost.  I won't miss them. We should have never loaned them money earlier this year.  Hopefully when they are liquidated the taxpayers will get their money back.  Maybe Toyota or Honda can take over their facilities so that the employees can stay employed.

Perhaps if GM didn't have to pay for health care for all their employees they would be more competitive.

The auto industry put themselves in this mess.  We shouldn't be bailing them out.  They saw the competition getting better and better for decades and they did nothing.  In the past, they had riches and they had technological superiority.  But rather than using those resources to making a better product, they continued to put out cars that break down every 3 months, that were technological dinosaurs and hope that advertising and ubiquity would continue sales.  Now that companies (who did put resources into making better cars) like Toyota are dominating.  I get enraged when I hear that GM wants to borrow money so that it can buy Chrysler because Crysler has $8 billion dollars.  They're buying another company to get its cash!  How much of a waste is that???

And now they have to deal with a whole new generation of buyers that grew up on Toyotas, Hondas, BMW's, etc.  I don't know anyone that'll ever consider an American car.  Like they saw, fool me once, shame on you, fool me twice, shame on me.

If we give them this money, we better own these companies in perpetuity.  and we better make the CEO's work for $15/hour because that's all they deserve.

POOR GM!! sooob, soob...........what are we gonna do?

OH wait a minute, this is one of Rupert Murdoch's corporations!

No need to bail GM out, let Murdoch bail it out... oh that's right, he has been in bed with the oil companies refusing to put out cars that eliminate the need for gas. If the government gives this Billionaire company ONE dime, this is a heist! Don't do it Obama. Even though his new chief of staff is likely REAL good buddies with fellow Jewish friend Murdoch. I'm nervous...

There has been skeptisism about our economy improving for years, in my opinion there may very well be some things we should take into consideration. One idea I think may be a good one is possably manufacturing hydrogen. Hydrogen powered vechicles are a good idea because hydrogen is a prevailent natural resource and they are cleaner burning than "fossil feul" powered vechicles. By the way, the federal government has been aware of these facts for many years. There are some hydrogen "gas stations" already put in place and operational although sparcely placed. Secondly, the technology in which the "Big three" have utilized in (most of) there vechicles is about a decade behind the times and the manufacturing process(s) the use are "prehistoric" for the 21st century. They plan there models out before they production stage (after testing) many years ahead of their release, which I can see some of the reasoning behind, although in my opinion they should be able to change their production plans much faster and simpler if need be. The way that the current system "its as if they need an act of congress" to make changes on the vechicles they produce. The technology is out there to build better "fossil feuled" vechicles but the automakers are "stubborn and stingy" about mass producing better (higher tech)vechicles at costs that are affordable to the general public. Furthermore, they actually take away the value of the American made vechicles (in my opinion) by "cutting corners" and not being williing to make the needed changes to "keep up" with technology that is available to them and producing cheap and unacceptable "lesser" models to the general public while the "golden parachute jumping" executives ride in more comfortable,better handling and better performing vechicles available.  I agree with cyan412000 the "big three" don't need a bailout by the government they all need to make changes in the ways that they do things and the vechicles on the production lines. The "average auto worker" has been bringing in money that the big execs have been pocketing for a long time, maybe they should take a loss on the account of their lack of forsight,planning,and (last but not least) for being downright greedy in my opinion. Zionadams is right about the city and the parts on American automobiles. A simple fact is that we really don't need the foreign automibiles,we are just attempting to share with them while (in my opinion) they are rape and rob us relying on peasants,currency and lawmakers to doso. I strongly suggest that a tariff be placed on all vechicles produced outside of the United States entering the US at the border.  This would allievate a portion of the US economy crisis and at the same time perhaps get a few of the companies to work on producing better vechicles and maybe even working together. One example of lower technology being placed into the vechicles of today(in my opinion) is the continuing production of the single overhead valve gas engine. Many newer more powerfull and feul efficient engines utalize double overhead cams and four valves per cylinder. The single camshaft- single overhead valve engine is obsolete in my opinion and the double overhead cam - four valve per cylinder engines should be placed into even the lowest costing vechicles of any type. There are other excellent suggestions I have for automobile manufacturers I have in which inmy opinion should be industry standards "this day in age" I won't delve into writing on for it would perhaps be a book by the time I was finished. The pay standards along with the available health benifits provided the US auto worker need to be industry standards. If it means the discontinued production of some poorly designed, ill equipted, gas guzzlers in order to do it. Many other countries (keep in mind) have some automakers which double as slumlordes and they have no place to even drive the cars which they produce. Counterpoint, I would like to add that the automakers produce the vechicles too fast which leads to lesser quality,less options, and lower market value. The "big three" donot need to be given a bailout and the Americans neeed to realize how good they have it and not worry about "keeping up with the joneses" the quality and technology should be readily available. The home market in my opinion needs a lot of work to, the homes need to be made with better standards and they "did it to themselves".       

'A bigger war will bring us out of our money problems. The U.S. needs to sell the weopons to both sides again, that seemed to work in the 80's.'

You talk about tossing people's lives down the tubes like you send potato peelings down the garbage disposal. We already have TWO wars going. Isn't that enough for you?