R.I.P.

Filed under: Business Blitz

Uh oh!

U.S. automaker General Motors filed for bankruptcy protection on Monday morning.

This is likely going to have HUGE repercussions all over the global economy!

Posted: Jun 1, 2009 at 8:24 am / Email this »

See All 31 Comments

31 comments to “R.I.P.”

wade says – reply to this

1

first biatch
PaLady says – reply to this

2

The Feds, Canadians, and unions are taking over GM? Government control of a free-market enterprise should frighten everyone. Obama is giving us the change we can't believe. Good God.
Carrie-Grace says – reply to this

3

If you could see all the dealerships closing in MI you would shit your pants.
Masenko Candy says – reply to this

4

Obama:………………."No Comment."
blasastter says – reply to this

5

It will? Really? Wow Perez, what a brilliant analysis! I would never have guessed that a GM bankruptcy would have a wide ranging effect. I thought for sure it would just affect a few people.
xcalibur says – reply to this

6

OHHH PLEASE. THE GM BANKRUPTCY HAS ALREADY BEEN FACTORED INTO THE MARKET. PEREZ STICK WITH FOLLOWING D LIST CELEBS. LORD KNOWS YOU LACK THE EDUCATION TO FOLLOW REAL NEWS LET ALONE REPORT ON IT. OBTAIN YOUR GED YET?? SMDH.
baltimora says – reply to this

7

Barack is going to build up a new GM, so relax you guys
REAL_TALK says – reply to this

8

Wow… This is the 1st post of the morning ??? YAWN…Im so disappointed
Melb81 says – reply to this

9

This is really awful. My husband drives semi and one of his accounts is GM. His biggest account. This is really gonna suck for along time.
that which cannot be seen says – reply to this

10

This should have happened months ago, BEFORE, we gave these asses billions of dollars. It was obvious back then anyway. Now we are going to OWN them? Why? No one will by cars from them now. I don't want a government car, especially one of those little football size things that can not take a hit from a bird, much less another car. I live in FL, people cannot drive here at all. At least stupidity crosses party lines, and we are all getting dumber.
jbman123 says – reply to this

11

Sorry, Perez, but an economist you are not. Stop reiterating what you hear on CNN…oh and FYI the auto industry has been dying a slow death since the Detroit riots in the 60s.
Lurchetta says – reply to this

12

Can't wait to pour more tax money into this mess!
UrMajestyMsG says – reply to this

13

Another waste of our tax dollars. Im so sick of our government protecting these greedy corporate bastards! let them suffer a lil bit like so many other americans have been doing, insteed of helping them hold onto their private jets and 5 star vacations! I feel bad for the people the work in the factories for these companies, but to the exec's and ceo and the rest of the pigs, FU*K THEM! i dont see anyone bailing out their workers and the people that stupidly bought/overpaid for their gas guzzlers!
unreal5511 says – reply to this

14

Perez, stay out of REAL news. Your commentary is AGAIN, OLD NEWS……stick to sucking up to celebs and leave the real news to real organizations. Sure this will have huge repercussions - tell us something most people with an IQ over 50 don't know.
Austy says – reply to this

15

I agree….they are PART to blame for the gas crisis. If those greedy @ss CEO's would stop putting money into their own dam pockets and focus on "fuel economy and mileage" of their cars we all could really afford to pay these outrageous prices on gas. you wouldn't have to fill the car up as often. Dam those CEO's. Obama will revise GM to his liking and the old execs will be gone. They dug a hole for that company and the walls finally caved in!!!
I feel so sorry for the workers, because while they are struggling to find proper jobs for their loved ones and putting food on the table, the execs will be living at their mansions with the MILLIONS they swindled for years. I hope they can live with themselves. Obama should ask for most of it back for the company they put in the sh!ter!!!
CaraC says – reply to this

16

Contact your representatives and demand that the U.S. get out of the car business immediately. The government taking over private businesses (no matter what excuse) is a grave threat to our liberty.
Birdygirl says – reply to this

17

We are dying in Detroit. My gosh how much worst will it get.
that which cannot be seen says – reply to this

18

Many of you seem to be ok with Obama mandating whatever changes he deems necessary to "fix" this. I wasn't aware we had elected a king. He should have no say in the matter at all and the fact so many are OK with this is scary. can, but there is no more getting now. Deal with it.
Pradagirl says – reply to this

19

It was only a matter of time before this happened and why am I not surprised? Bailout after bailout of taxpayers hard earned money just to roll down and fail! I was hoping for GM to prove me wrong but they didn't. Their brand lost respect many years ago and yet they felt American's should still be faithful to them by purchasing their crappy vehicles. Instead of innovating themeselves they just sat there. Well guess what GM? Your vehicles sat in the dealerships too because we were fed up with you. Now all of the sudden you want to fix the problem and blame the economy. It too fucking late!…and our president at this time is really pissing me off lately too. Excuse my language, thank you.
Angie T says – reply to this

20

Of course GM waited to file for bankruptcy until AFTER it received a ton of government bailout money. I'm so happy that this is what happened to my tax dollars.
Willys Bong says – reply to this

21

Really shitty cares they built,what do you expect? Drive a Honda,no problems mon
TheQueenBee says – reply to this

22

UR DUMB PEREZ U KNOW NOTHING BOUT ECONOMICS

THIS ISNT LIKELY TO HAVE HUGE REPERCUSSIONS ALL OVER THE WORLD THIS IS A FUCKING FACT

KNOW THE WORLD OUTSIDE AMERICA
MEMEME4 says – reply to this

23

why do you always put r.i.p for these? They arent going out of business.
Meg_Mo says – reply to this

24

Perez, it's posts like this where you show time and time again why you're not a real journalist. GM isn't going away. They entered into bankruptcy to reorganize and get protection from their creditors. The government knew that's the direction they were going, and it's already been factored into the market. That's what Chapter 11 is for, to reorganize and come out a sleeker, better, more profitable company. But you knew that, didn't you?
NeatoAwesome says – reply to this

25

GM sucks anyways.
Hate Low Class People says – reply to this

26

Just one more casualty in the destruction of the US economy by Messiah Hussein Dumbama and his ignorant administration. The stupid Americans that voted for this nitwit in order to get the praises of the 'world' deserve everything that is happening right now. Libitards are such FOOLS!
misterpibb says – reply to this

27

Damn!!! I thought GM was going to be spared by their investors and the government…
JanScholl says – reply to this

28

There are some parts of the global economy that won't suffer quite like US will. Why? Because they actually buy the products they make. Would you work in a slaughterhouse if you were a vegetarian? Hardly. So why do you buy cars from other countries and companies when you work for GM? Go to any GM plant parking lot and see what the workers are buying and driving. And it's not because the GM cars are bad. All you have to do is check JD Power and others who award to great cars. GM has great cars and trucks. And most of them have great marks from their owners too. It just became the hot thing to do-bash GM products. But the GM workers bit the hand that fed them many a time and now they will have nothing. Wonder how they will make the payments on their competing brand of cars they financed for 7 years? And on how many cars? Stupid people.
AvaLovesAbs says – reply to this

29

Perez stick to shit gossip that's all your good at.
PENguingrl says – reply to this

30

Huge Repercussions on the Global econ? You're a dumbazz. Wheres your economics/business degree? Oh, you don't have one. Thats right. Stick to Hollywood reporting.
devil dog dad says – reply to this

31

screw the bailout and obama he could have given the bailout money to the people instead of to greedy bankers and defunked car company CEOs if the people whould have gotten the money i bet the econemy would have taken off. but nooooooooo the banks and the big 3 get bailed out and the people get SCREWED as usual