GM in bankruptcy protection move

Newshound · 06-01-2009, 12:40 PM

Car giant General Motors files for bankruptcy protection, the biggest industrial failure in US corporate history.

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pyrangello · 06-01-2009, 02:16 PM

I am from the detroit area, grew up in automation alley and was working in a welding shop at age 14 . It was illegal but I am so glad I had the opportunity to learn a skill at an early age. It's a sad day, the perfect storm if you will. Some of this damage was self served, but GM does make a very good product.

I just wonder instead of the government controlling the money would it have made more sense to create a 4 year, 100% tax deduction of a new vehicle. That would have put people to work, created a tax base and bought some time to ride this out til things got better ! Just a thought ! But then that would have put the money back into the peoples hands which is what this entire bailout here has not done.

Just my 2 cents!!

06-01-2009, 12:40 PM	#1
Newshound News Bot Join Date: Jan 2009 Posts: 596	GM in bankruptcy protection move Car giant General Motors files for bankruptcy protection, the biggest industrial failure in US corporate history. More...

06-01-2009, 02:16 PM	#2
pyrangello Avalon Senior Member Join Date: Sep 2008 Location: Northern Michigan Posts: 412	Re: GM in bankruptcy protection move I am from the detroit area, grew up in automation alley and was working in a welding shop at age 14 . It was illegal but I am so glad I had the opportunity to learn a skill at an early age. It's a sad day, the perfect storm if you will. Some of this damage was self served, but GM does make a very good product. I just wonder instead of the government controlling the money would it have made more sense to create a 4 year, 100% tax deduction of a new vehicle. That would have put people to work, created a tax base and bought some time to ride this out til things got better ! Just a thought ! But then that would have put the money back into the peoples hands which is what this entire bailout here has not done. Just my 2 cents!!