"Even if the feds pump billions into Detroit's automakers to avert a bigger economic catastrophe, the era of the Big Three as the Big Three officially died last week."
"Even if GM implements the planned operating actions that are substantially within its control, GM's estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business."
"In personal terms, it'd mean you're mortgaged to the hilt, there's no more room on the home equity line, the credit cards are maxed, you can't sell the boat or the house Up North because no one's buying, your savings are dwindling, your monthly income is dropping like a stone and you can't find a second job."
Deutsche Bank believes that on its own GM may not be able to fund its US operations beyond December and that its death is inevitable. With the future looking bleak, the bleeding three can merge to form a Big One or, any two of them can unite to preserve some long-serving and illustrious brands that have made America and its citizens proud.
November 11, 2008 at 10:27 PM
It is time the American car companies cease to operate. They still have not learned the way to operate. No amount of support from government or the VCs will help them.
November 12, 2008 at 9:15 AM
@ Is it right to ignore one of your major industries that has given joy and employment to thousands of your countrymen?
November 15, 2008 at 10:28 PM
Definitely not. But is not worth the effort as the Big three still don't seem to have learnt from their mistakes.
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