In response to:

GM to Go Bankrupt Again?

The Original Alice Wrote: Aug 18, 2012 6:51 PM
If I remember correctly, GM became the #1 car company in the world (in profits) last year for 2 reasons, neither of which was because they became a lean, mean fighting machine with great sales. Instead: 1.) The obvious: the bail-out. It's a lot easier to out-profit Ford if the playing field is extremely lopsided. 2.) Who had been #1 before? Toyota. And why was Toyota bypassed? How about the earthquake / tsunami / nuclear accident that severely affected their production. It's like saying you're the top swimmer in the world because a.) you were given massive doses of steroids and b.) Michael Phelps broke his leg and got cancer and had the flu when he swam in the lane next to you. Yeah, you're a *great* swimmer; you totally earned that gold.
Rocky1974 Wrote: Aug 19, 2012 12:24 PM
You don't remember correctly. GM was #1 in sales last year. They were #3 in profits, but they did make more money last year than they ever had in their 104-year history. That's the reason I find these articles that they are going bankrupt again so hilarious. I know it’s election season and I know that Obama is using the auto bailouts as a cornerstone of his re-election campaign, but that doesn’t give our side free reign to make up things that have absolutely no basis in fact. All this does is make us look stupid. Yes, Toyota has been on the ropes, and yes, they are getting their footing back, and yes, they will get the sales crown back this year. But none of this is going to drive GM back into bankruptcy.
Rocky1974 Wrote: Aug 19, 2012 12:26 PM
The whole point of the restructuring was to downsize GM, so they could be profitable at much lower volumes. There are absolutely no facts anywhere to support the story that GM is going bankrupt again. All this is just election season rhetoric and wishful thinking.

Despite being touted as a success by the Obama campaign, the taxpayer funded bailout of General Motors has been the opposite. The company still owes Americans $42 billion and its stock is doing poorly. Charles Payne from the Fox Business network thinks the company is on the verge of bankruptcy and will need another bailout in the near future.