27 May 2009

We Can Hear The Sound

It's awful to hear that GM may, in fact, be kaput. General Motors itself would still be an entity, but with the federally-imposed June 1 deadline looming, the auto giant is looking to be taken over by German auto giant, Opel.

You hate to see it come to this, but let's be honest...GM was over spending and under performing for many years (if not decades). And while this can add insult to injury with the US economy the way it is, it should not come as a shock.

If only the the Chevy Volt were here already.


At 9:15 PM, May 27, 2009 , Blogger Austin said...

I had heard that GM was somewhere in the neighborhood of $27 Billion in debt. $27 BILLION! Honestly. After a company was $1 billion, $5 billion, or even $10 billion in debt, who is still lending them money? How are they even physically able to be $27 billion in debt?

At 1:14 PM, May 28, 2009 , Blogger Patrick Copeland said...

I know, right? That's one of the points that blew my mind. At what point of debt did they *not* say, "Hey, let's change some things. It just ain't working this way."



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