Quote:
Originally Posted by Phanuthier
Mr Lache said: “Even if GM succeeds in averting a bankruptcy, we believe that the company’s future path is likely to be bankruptcy-like.”
Thats really harsh, though I for one hope GM doesn't get a bail out. At some time, GM is going to die and they already got their 2nd chance in 2003. Just let it go already.
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Personally, I hope GM doesn't get the bailout either. The AIG bailout was necessary to prevent the economy from going to absolute poop. GM, while a huge company, is not on the same spectrum when it comes to it's importance to society as a whole. While it's really difficult to see good people lose their jobs, why the hell would a guy who sweeps the floor, get $25+ an hour? I see the need for unions in blue collar places, absolutely, but when management/union screw over one another out of greed, this thing was a long time coming. Besides, it's the private sector...the free market is what it is - survival of the fittest.
Boy, the markets this morning are taking a beating. Perhaps time to pick up some RIM finally.