GM is defaulting.
GM Plans to Skip $1 Billion Debt Payment [The Wall Street Journal]
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GM is defaulting.
GM Plans to Skip $1 Billion Debt Payment [The Wall Street Journal]
You can log in with your account or comment as a guest below.
There are a lot of similarities between GM and a dog that dances to salsa music.
http://www.youtube.com/watch?v=LNlRsu1Dn0k
There are a lot of similarities between GM and a dog that dances to salsa music.
http://www.youtube.com/watch?v=LNlRsu1Dn0k
I am on the board of General Motors. What is “management”?
GM makes planes? I just went for a spin in a Chevy Malibu. Had to get the parachute out.
We’re from the Union, and we’re here to help…
Too fail, didn’t big
So GM says that a trip to bankruptcy court is “probable,” but expects bondholders to willingly exchange for shares and move down the capital stack?
Dang – shoulda, coulda, woulda…
@9 – I think you just blue yourself.
And it only took 20 billion tax dollars to get to this point. Now that is a bargain!
I wonder what kind of car my sweet Maxine drives?
Grammer notice:
Article should be GM’s defaulting or GM is defaulting.
Not: GM’s is defaulting.
Rattner will extend them funds if they buy a piece of Chooch residuals.
@12 don’t know but i bet she was conceived in the back of a pickup truck
@13- Grammar.
Tony Danza
@13 join GM they need guys like you. oh no, they have guys like you already…
too broke, didn’t pay
As long as I get union pay then I don’t care.
Too union, didn’t save.
i dare you to call default on me, i dare you!!
too union, didn’t succeed
Too union, didn’t save.
see, i read that headline in the kool-aid guy voice, but that’s just me
i dare you to default me bitches!!
@13: You’re right.
Thanks!
i dare you to default me bitches!!
i dare you to default me bitches!!
i dare you to default me bitches!!
Fix the damn server.
Fix the damn server.
http://mt.dealbreaker.com/
look here, its like a paralel universe where dealbreaker is fun
@32-34 – how about you just go back to:
http://messages.finance.yahoo.com
and take your damn triple post with you!
@5 – FTW! well played.
sorry 35 there seems to be some echo echo echo
@38
don’t forget 30, this was a quadruple or full house
Did anyone find the last 30 min of trading today to be absolutely insane?
Friend of mine (formerly in finance at GM) told me a lot of the guys who took buyouts then moved down South and took nonunion jobs at the transplants. So, big bucks and who cares about the union, as long as I have a job?
Why isn’t anyone all over the union for being the iceberg here? Why the bondholder hate when the unions are getting paid – not to mention the retirees getting 40 years of gold-plated healthcare and full bennies – and driving labor costs to unprofitable levels?
@40 – good point, perhaps he/she should go to the google boards…
Hi, we’re from TAPS and we’re here to help.
surprise surprise puppy surprise..haha you actually thought we were going to pay back the loan..Suckers…
-Ricky “Tricky Dicky” Wagoner
I know they are trying to cut the union comp, but when we talk about corporate greed, why aren’t we talking about UAW benefits? Apologies if this has been pointed out but if they are going to complain about greed, don’t you think excessive benefits for the UAW qualifies as something the pinkies should be up in arms about?
Another spelling notice: levee
If it wasn’t for the excessive pay and benefits of the UAW folk, there would be no multiplier to leverage the “incentive pay” for auto execs. Just sayin’…..If GM didn’t have a union all over their ass they would have created one!
They took ‘R jobssss!!!!!!!!!!
OH NO MY STOINKER
- E. Reuther
Dem turk ner jebs
@13/EP: Still a syntax error. GM defaulting is FTW.
“GM’s” is a possessive since GM is a proper noun. “GM’s defaulting” is the “defaulting” that belongs to GM. As in “GM’s tragedy” or “GM’s bankruptcy”.
@52
You’re an ignorant asshat.
See what I did there, with the contraction of “You” and “are”?
@52:
Many pages of the interwebs will explain to you the multiplicity of uses of the apostrophe. For example, this one:
Apostrophes are used in contractions. A contraction is a word (or set of numbers) in which one or more letters (or numbers) have been omitted. The apostrophe shows this omission. Contractions are common in speaking and in informal writing. To use an apostrophe to create a contraction, place an apostrophe where the omitted letter(s) would go.
Here are some examples:
don’t = do not
I’m = I am
he’ll = he will
who’s = who is
Or:
GM’s = GM is
@54 so F’ck you, you c’ck s’cking l’oser…
HOW’S that?
@52/@53: so “John’s brother” == “John is brother?”
Unions Killed America.
“Papa John’s” == “Papa John is” ?
‘s is a possessive when used with a proper noun (exceptions for he, she, it, I). Isn’t this something we learn in 5th grade?
@55,56
There is help available.
http://www.rong-chang.com/
@53/54: I see what you’re getting at: ” ‘s ” == ” is ” as in “your mom’s in my business”. A bit colloquial but I suppose I have to get used to it.
@54 – Aunt Paulette, if that’s you, I am really sorry I forgot to send a card acknowledging your retirement after 27 years of service to Shitz, Shitz & Morofvitz. Legal secretarydom will truly never be the same.
@56 – again, I suggest you consult the interwebs:
The apostrophe has three uses:
1. to form possessives of nouns
2. to show the omission of letters
3. to indicate certain plurals of lowercase letters
(Actually even this page doesn’t dot the i’s and cross the t’s as apostrophes are also used in phrases of time and measurement. It’s a bitch to rely on free resources – you never get your money’s worth.)
Is GM trying to trigger the CDS before entering bankruptcy? That way they would be dealing with more motivated bondholders leading up to the bankruptcy hearings. Just a thought
@63 – I think it’s just part of the cramdown dance. Obama wants the bondholders to take a massive haircut so the equity in new GM can be used to fund the pension plan so PBGC doesn’t get stuck with that bill.
The real question is why does GM common trade above zero? Who owns that stock aside from index funds?
And why, why do my index funds own GM? Thanks S&P. Great job you do managing that index.
“you’s a hoe! (HOE)”
your a-hoe
@62 i think I got it-
I fucked your MOM’S asshole for several hours and SHE IS very pleased.
@63
Call Maxine!
Goldman has GM CDS.
@66 huh – who would think someone that grammatically-challenged would be so familiar with the colon?
@66
You definitely DON’T have it.
holy moly! this is definitely the big new of the day(assuming today is mid January 2009….)
Nope, you are exactly right. Really, I have no excuse for that brain-dead typo in a headline like that.
Thanks for catching it.
I like how everyone blames the Unions for GM’s woes. Do any of you know what the all in these Masters of Universe are pulling in (yes even including benefits).
Funny I dont recall many calling the rank and file of the major investment firms dolts, dullards, and the cause of the firms downfall. Look at which firms have the worst debt burden–must be due to those excessive coffee breaks right?
I’m not defending GM, but lets at least not be hypocrites.
[mea a cupla to any who where equal opportunity bashers as some on here have been]
flame on…
-C
I don’t believe it, then again I still have Confederate war bonds.
Rusty
GM is shutting their plants for 9 weeks. Hopefully during that time we’ll realize how much GM means to us.
I am a union leader, who is John Galt?
C@72, true. The entire company runs on a culture of “what’s in it for me?” People seem to forget that they are in a competitive marketplace. I don’t believe management should get paid to have driven the company into the ground though there’s at least some argument that C-level executives are paid well at other companies. On the other hand, nowhere else do you find someone with only a high school degree getting paid as richly as these auto union workers.
And yet you see the Obama administration bend over backwards trying to save these overpriced workers. Why would bondholders accept a deal where they are getting market price on their bonds and nothing else when they can force the company into bankruptcy and get more? Makes no sense.
@73 if you’re ever short of cash in Mississippi…
68,
Excellent.
You I dig your shit EP. I was just trying to be helpful. Maybe the butt-kissers on this site should treat you and Bess like people instead of infallible gods.