Welcome to the Cadillac XLR Forums!
  • The Cadillac XLR Net is now on instagram! Follow Us!

In the event of GM's bankruptcy, which group would be the biggest loser?

In the event of GM's bankruptcy, which group would be the biggest loser?

  • Suppliers

    Votes: 0 0.0%
  • Dealers

    Votes: 1 11.1%
  • Retirees

    Votes: 0 0.0%
  • Current UAW Workers

    Votes: 0 0.0%
  • Creditors

    Votes: 5 55.6%
  • Tax Payers

    Votes: 3 33.3%

  • Total voters
    9
  • Poll closed .

Rob

Seasoned Member
Staff member
Site Administrator
Joined
Oct 7, 2006
Messages
5,329
Location
New Hampshire
My XLR/V(s)
Not yet!
In the event of GM's bankruptcy, which group would be the biggest loser?
 

First Robin

Seasoned Member
Joined
Oct 16, 2008
Messages
1,393
Location
Colorado Springs, CO
My XLR/V(s)
2006 Platinum/Ebony,2011DTS,Platinum Edition White Diamond.
In the event of GM's bankruptcy, which group would be the biggest loser?

Since the taxpayers are also creditors there is only one answer to this question. All of the others will also be hurt but the creditors have the most at stake.
 

Lola's Mom

Seasoned Member
Joined
Aug 6, 2008
Messages
3,483
Location
Southern CA
My XLR/V(s)
2004 Black Raven
Ford's trying to free up more cash .... hmmmm .... maybe they're looking for a step-child?? :squint:
 

First Robin

Seasoned Member
Joined
Oct 16, 2008
Messages
1,393
Location
Colorado Springs, CO
My XLR/V(s)
2006 Platinum/Ebony,2011DTS,Platinum Edition White Diamond.
Who gets paid first?

Who gets paid first, the original stock holders,creditors or taxpayers if they go under?
 

Jetboy

Seasoned Member
Joined
Oct 5, 2007
Messages
339
Location
Phoenix
My XLR/V(s)
2005 Blue Steel XLR
Since the current administration decided they could act as the Judicial and Executive branches and change the rules of BK for the Chrysler BK it has to be the creditors that take the biggest hit. Good luck on decent loan rates and terms in the future Corporate America.
 

Little Woman

Seasoned Member
Joined
Oct 17, 2008
Messages
2,588
Location
Bourbonnais, IL
My XLR/V(s)
Cubby's, RIII Attendee, Midwest Marauder Alcohol Czar
It's not a question of if they file bankruptcy, its a matter of when. I don't think there is any plan GM can come up with to satisfy the government. Going off the deal they came up with for the Chrysler BK, I believe the creditors are the ones to lose. :pat:
 

Cunard One

Member
Joined
Nov 19, 2008
Messages
19
Location
NYC
My XLR/V(s)
2009 XLRV
The government threw the lifeline in order to keep things going and keep the union alive. If GM had BK'd without taking the bailout $$ then they could have dumped the unions and started fresh. Union wages are still a problem.
The feds have their tentacles in the business and will keep the unions and even reward them.
The Chrysler bailout will reward the union with 6billion and a 55% ownership of the new company. Taxpayers put in something like 14billion in and will see Zero.
This is just more government control of our companies. Just wish they would get control of fuel pricing. ;) Just my .02

CO
 

Little Woman

Seasoned Member
Joined
Oct 17, 2008
Messages
2,588
Location
Bourbonnais, IL
My XLR/V(s)
Cubby's, RIII Attendee, Midwest Marauder Alcohol Czar
My dad spent his life as a UAW worker for Ford Motor Company and I must say thank God he is not here to see the automotive industry go down the way it is. :(
 

Cadillac XLR Forums

Not a member?  Join now!  It's Free!

Learn more about Supporting Membership

Win a Cadillac CTS-V!

Cadillac CTS-V Dream Giveaway

Supporting Vendors

East Coast Used XLR Parts

Top Hydraulics

Cadillac XLR Registry

Click here to enter the official Cadillac XLR and XLR-V Registry
Top Bottom