Is GM going bankrupt?

[Ted Striker]

Originally posted by Lawrence of Arabia
more reliable? aaaaaahhhh i dont know about that. but i do know that its much cheaper to fix when something does go wrong (all the parts are made from plastic, even the pistons. nah jk )

Uhhh, guys, it is WAY common knowledge that Toyota makes the most reliable cars in the world. I mean that is just a common fact. They not only are the most reliable, they pretty much PWN the competition.

According to April 05 Consumer Reports of the US. Toyota tops other automakers in 2005 New-Car Reliabilty: 1. Scion, 2. Lexus, 3. Toyota, 4 Subaru, 5 Honda, 6. Acura, 7 Mitsubishi, 8 Infiniti, 9 Hyundai, 10. Suzuki.

Notice that Scion is the most reliable brand. Sorry Oerdin. And by the way I see Scions EVERYWHERE. Their new coupe is selling like crazy, and is a good looking car for a good price.

http://www.badders.com/forum/showthread.html?t=1338

[Dinner]

I hardly see them at all. The kids are shifting out of Civics and into Mitsubishis & Subarus.

[Ned]

Originally posted by Ted Striker



Uhhh, guys, it is WAY common knowledge that Toyota makes the most reliable cars in the world. I mean that is just a common fact. They not only are the most reliable, they pretty much PWN the competition.



http://www.badders.com/forum/showthread.html?t=1338

Really? Honda's are the most reliable cars that I have ever encounter. I have had several, and I know.

[Ned]

I think most Americans agree that less expensive, better looking, more reliable and more fuel efficient is a winning formula. GM has had 30+ years to meet the Japanese competition, and failed.

I don't care if GM is an American company. It needs wholly new management from top to bottom. It either has to go completely out of business, or be bought by a Japanese company out of bankruptcy.

[Ned]

"United Airlines, which is operating in bankruptcy protection, received court permission yesterday to terminate its four employee pension plans, setting off the largest pension default in the three decades that the government has guaranteed pensions.

The ruling by Judge Eugene R. Wedoff of Federal Bankruptcy Court came after a lengthy hearing in a crowded Chicago courtroom, near where United is based.

Despite pleas by union lawyers, Judge Wedoff sided with United, which had insisted that it could not emerge from bankruptcy protection with its pension plans in place.

The ruling releases United, a unit of the UAL Corporation, from $3.2 billion in pension obligations over the next five years. The federal agency that guarantees pensions, the Pension Benefit Guaranty Corporation, will assume responsibility for the plans, which cover about 134,000 people.

Some retirees could see sharply lower pension payments as a result; others will see little change in benefits, depending on a variety of factors. Some retirees at US Airways, which has terminated its plans, have seen benefits drop by as much as 50 percent."

http://www.nytimes.com/2005/05/11/business/11air.html?ei=5065&en=072ee0e34a06e830&ex=1116388800&partner=MYWAY&pagewanted=print

[Ned]

Can GM declare bankruptcy now?

[pchang]

Like I said, I hve it on good authority that something similar is in the works for GM.

[Dinner]

What sort of authority?

[Kidlicious]

Originally posted by Oerdin
Scion is a loser. In 10 years it will be thought of as another Merkur or Edsel.

Toyota should concentrate on building their core brand instead of branching off into brands that mean nothing to anyone.

No. The're doing the right thing. When you have brand name recognition you need to use it.

[pchang]

PBGC

[DanS]

Have pension liabilities ever been transferred to the PBGC without bankruptcy?

[JohnT]

It either has to go completely out of business, or be bought by a Japanese company out of bankruptcy.

I disagree with both sentiments. Despite their problems, GM represents a substantial amount of manufacturing capacity here in the US, something I would never like to see fall into the hands of a foreign company.

[DanS]

GM is a destroyer of vast amounts of value. I don't have any problem with them going out of business. Manufacturing capacity is a vastly overrated metric anyway.

[JohnT]

It isn't in wartime.

[DanS]

We're at war right now and manufacturing as a percentage of our economy is plummeting.