- HOORAY! Says the CEO of the now-bankrupt General Motors: “The GM you knew, the GM that let so many of you down, is history.” Stocks are just cold going nuts, Dow up 215+ at the moment. [Marketwatch]
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{ 37 comments }
Give me another chance, baby, I’m a changed auto industry.
Because nothing says economic recovery like laying off a lot more workers and sending jobs to China!
Bad news in Detroit = Yippee! on Wall Street. Makes sense to me. The business of America is tinkering with financial derivatives, not manufacturing useful things.
[re=328720]OzoneTom[/re]: All those laid off GM workers already know how to make Buicks. Start the Mandarin lessons ASAP.
“Buenos tardes–Fuck American and Candian taxpayers, what’s in it for the brown peoples in Mehico?”
Only in a Hopey Administration could stocks RISE when a company announces a bankruptcy. Fuck you, capitalist swine!
How ironic that “…[t]he company that invented ‘planned obsolescence…’ has now made itself obsolete.” [credit to Michael Moore at http://www.michaelmoore.com/words/message/index.php?id=248
But if GM changes how they make cars, where am I going to get a giant, heavy, gas guzzling car with the handling characteristics of a zeppelin?
[re=328726]Gopherit[/re]: The reason Wall St is up: “buy the rumor, sell the news.”
The rumor must be, now what’s next for GM? Smart cars, light rail, solar panels?
Whichever, it now has a s***load of renminbi for its next steps. As soon as those are articulated, SELL!
Just another example of von Clausewitz’s wise warning to never get involved in a land war in Asia.
Failure as stimulus
Adam Smith just crapped in his casket..
[re=328722]V572625694[/re]: True, but who can blame them if manufacturing useful things involves the UAW, who have the gall to demand a living wage, and who are to blame for all ugly American cars due to assembling them in a random and radically wrong way.
[re=328739]memzilla[/re]: Go with the railroads, Barry. It’s a nice, dramatic, romantic project like Kennedy aiming for the moon, but at the end of the day, we would actually have railroads, which would improve the American economy, and environment, forever.
While you’re at it, though, you should prosecute a few people. The more Republicans are in jail, the fewer there will be to give you shit.
“Stocks are just cold going nuts, . . .”
Is that different from going cold nuts?
“The GM that let so many of you down.”
Isn’t the problem that they didn’t let *enough* people down? Seems like the the fail here is with the marketing department for not creating enough desire in our incredibly gullible populace for these modern-day Edsels.
[re=328749]gurukalehuru[/re]: He can’t go with the railroads, because of Dagny Taggart and whoever the fuck John Galt is.
[re=328726]Gopherit[/re]: “Only in a Hopey Administration could stocks RISE when a company announces a bankruptcy. Fuck you, capitalist swine!”
Er, not so much. Bankruptcies and mass layoffs make Wall Street happier than a pig in shit. The logic seems to be, best I could figure when I worked at Smith Barney Shearson Lehman Hutton Your Name Here, is “Well, they’ve bottomed out, buy now and get rich! Woohoo!”
[re=328754]hobospacejunkie[/re]: GM is a failed Want Manufacturer.
[re=328759]rev_matt_y[/re]: Nah. Look at the stocks that rose today. This isn’t buying up a dying company. This is market exuberance.
More crap news in a crap day in crap week in a crap year. From the Bell’s Palsy to the dead cat and depressing points in between, I turn on the news and it’s shit. O’bama is the one bright spot in life. If I we were making fun of Pres. McCain right now, I’d be give in to the insomnia so I could hoard my Lunesta.
[re=328749]gurukalehuru[/re]: Yes.
[re=328733]Lionel Hutz Esq.[/re]:
Maybe the Paultards will lend you their blimp.
[re=328765]Gopherit[/re]: Irrational exuberance, at that.
[re=328766]DustBowlBlues[/re]: Apologies for bringing it up but do you have any more news about Kitty? Perhaps I missed something in the weekend’s 400+ comments extravaganza. Either way, I’m sorry, dear. Hugs from 500+ miles away.
[re=328749]gurukalehuru[/re]:
Those select Repubs need to be thrown down a ravine from said trains.
Obviously, the lesson to be learned from all of this is that if Obama wants the stock market to get back up to where it was before the crash, he just has to make sure more large companies go bankrupt. So if it falls again, he should try and take down GE or some other company.
[re=328746]lizard scum[/re]: Exactly. How dare those lousy union members think they’re entitled to anything but a trashed-out 401(k), COBRAed health care if that, and a pink slip! Now, if they were hedge fund managers….
Michael Moore has an AOL account? Lame…
[re=328749]gurukalehuru[/re]: Fuck prosecuting the Repukes. Render them all to some black site and let the waterboarding begin. For Freedom. Also.
[re=328779]Servo[/re]:
“You must pay the rent”
“But I can’t pay the rent”
Dancing on the grave of GM. Wall Street is good at that shit, and Henry Ford is doing the Macarena in his casket!
[re=328770]Serolf Divad[/re]: Well, it would be devoid of all reasonable safety equipment….
Or maybe the reason the Dow is up has something to do with GM being removed from the DJIA…just a thought…
Today, we are all automakers. Literally, as taxpayers hold 70% of the company. We should rename it ‘US’ and the designate the first model off the line the ‘Barry’ or the ‘Obamanator’. Heck, free Trabants for all!
[re=328751]chaste everywhere[/re]: Going cold nuts? Zip up your fly.
[re=328766]DustBowlBlues[/re]: I saw Hopey’s copter take off from the Naval Hospital in Bethesda. I took pictures, I expect a secret service visit tonight.
How much of this policy is merciful and how much of it is just craven and dumb? Well, we will finally replace the old tired Titanic metaphor with a new one: “Rearranging the bucket seats on General Motors sedans.”
[re=328740]dijetlo[/re]:
He’d try to dig himself out, but the invisible hand is busy stimulating his package.
[re=328766]DustBowlBlues[/re]:
I’m sorry to hear about the cat. I was driving home today on the main highway and I saw a dead cat by the median and it gave me a sad.
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