While GM and Ford’s stocks are plummeting to the bottom(the worst since 1950), GM states that “bankruptcy is not an option” as they still have billions of cash in hand. (which is washing away rather quickly) Here’s an excerpt from LA Times: “We face unprecedented challenges related to uncertainty in the financial markets globally and weakening economic fundamentals in many key markets,” Renee Rashid-Merem, a GM spokeswoman, told Bloomberg News on Thursday. “But bankruptcy is not an option GM is considering.” According to Clark, a bankruptcy filing would probably have terrible effects on the residual value of cars and their warranties, making it even harder to sell new cars as consumers gravitate to other, more stable carmakers. That, he said, means that carmakers would choose to stay out of bankruptcy far longer than companies that might normally see it as a way out of untenable financial straits. I think it’s a good thing that GM is trying to outlast this economic disaster, but I wouldn’t want to see any of my tax dollars going to fix their problems. As a owner of a GM car, I am sure my replacement parts and warranties would really be gone into the thin … Continue reading GM – “Bankruptcy is not an option”