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GM Fastlane Blog gives the skinny on why GM shouldn’t go into bankruptcy

GM Fastlane points out what we all know - It will be BAD for the country if GM goes into bankruptcyJust a quick note to our readers to something that is very important to us here in Southeast Michigan, and maybe even to the rest of the country.

GM is in bad shape and facing bankruptcy. The other day the GM Fastlane blog went into pretty good detail on why a GM bankruptcy is very bad for America. Very bad.

I'm not going to get into how I personally feel about this issue. What I will say is that I know MANY people who work for GM or it's direct suppliers. And I know many more who work for GM's indirect suppliers.

I know that a GM bankruptcy (and heaven forbid GM closing it's doors) would be disastrous for the economy, especially the one around Detroit.

So take a read and think about what GM is saying. If you don't think you should care about this, you might want to think again.

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  1. Clearly, there are many reasons, argued by other experts, to believe GM will continue to exist and will not file bankruptcy. It has a lot of cash on hand. It is successful in other markets, particularly China. Even GM chairman and CEO Rick Wagoner insist bankruptcy isn’t part of any planning. The U.S. economy is shaky for pretty much everybody. Not only is it bad for Americans, but also lousy U.S. economy hits the whole world hard. The U.S. bailout measures are good for everyone worldwide, if the cash advances being made work like they’re intended to. However, some are insisting that the bailout is going to wreck the budget and make the deficit explode. Obama and others insist there will be cuts made that will make up for it. Regardless, let us hope that the short term loans we’re making will help to bring back the U.S. economy.

    Posted by: ConnerF | April 17, 2009
  2. Well these things happens for a reason…

    Posted by: rhobbhyy | September 10, 2009

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Monday, July 24, 2017