Posted by: futurevehicles | June 2, 2009

GM got thoroughly rolled.

Yes, it finally happened. GM is D-E-A-D…………well kind of.

They filed for bankruptcy sure, but that doesnt necessarily mean that the brand dies. In fact, according to a very confident Barack Obama, the company will come back stronger, albeit conseridably smaller, than before. With a 37 billion dollar bailout from the Government helping to cushion the blow, GM is hoping to sell some of it’s more toxic assets- Hummer, Saturn, Saab and Pontiac- and try to get back in to the automobile market with a series of smaller, environmentally friendly cars.

Regardless of whether the company is successful at getting back on to their feet- you’d have to imagine that whatever car they do bring out is going to have to be something quite amazing.

The value of GM’s cars has dropped to almost nothing since the bankruptcy announcement, as many of their cars can only be serviced at a registered GM dealer- 2000 of which have closed due to the bankruptcy. It has even been claimed that people would be better off having their GM car crushed and recycled for scrap metal- but that is a tad extreme.

I don’t feel sorry for GM. I know that sounds terrible but the decisions they made in the past that led to this point were so damn typical of that almost stereotypical American corporate greed. It happened to the banks, and now GM has claimed the title of being the worlds largest industrial company to go bankrupt. It sucks for the assembly line workers even more- as they have to sacrifice so much on top of what they have already had to.

I can’t say much more than that- but i’ll conclude by saying that now matter how much we love to hate American cars- the Hummer, the old 70’s gas guzzlers- it is those type of cars that speak of the freedom that comes with personal vehicle ownership. That classic image of the big, bold and brutal muscle car cruising along the interstate will not die- it will just be reinvented.

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