you could buy all of the outstanding stock in both companies for less than $5 billion right now....it's not like it's a huge purchase

they didn't allow China to buy Unocal.

Buicks are popular in China.

GM could raise operatring capital by selling the buick "brand" to a chinese auto company.

How much could they raise?  The Market Cap of the entire company is like $3.5 billion.  How much would the Chinese presence of the Buick brand be worth?

Mind you, GM is burning cash at the rate of give or take $2 billion a month.  The proceeds from that sale might keep the lights on for a week.

Please no, please no.

China isn't ready for prime time.  Here's Why

I think it is a tossup between unions and management at GM as to who is the worst.  Let China buy it.  They will have to pay competitive wages and benefits to operate in the US.  I don't hear Toyota employees griping.  GM is determined to never change if they can suck the blood out of taxpayers.  The Chinese will not put up with the unbridled and undeserved greed of the unions and management.  The only alternative that I see happening is a rape of the taxpayers if they don't buy it.  Our only choice is US socialism or capitalism from a communist country.

yup

Ahhh... things just keep gettin' better!

Ironic, isn't it?  

How many times are people going to say this and get proven wrong?

Damn.  Room for improvement there.  

But, they will get better.

vmax84

So, how much money did Obama get from the Chinese

I'm not sure what that video proves.  If the PRC buys GM, they'll be buying all of the current GM Platforms and Manufacturing Facilties.

The current Malibu, GMT900, CTS et al aren't going to by magic become less safe simply because the ownership of the company has changed hands.

2010 Chevy Cobalt crash test

Dude, China buying them would mean they failed... or are you only for Capitalism for Americans?

As much as a hate bail outs, I dont want to see China own more of our country...

Well, the one "funny" outcome would be the hearing/reading/seeing all the diehard NASCAR fans freak out.  NASCAR would be represented by Ford and Chinese and Japanese owned automobile manufacturers.  







ETA:  or all jumping ship to Ford



 

Don't you think the people in Congress know this? This could just be an elaborate ploy to garner the support of a bailout in the American people via "patriotism."

2011 Cobalt replacement (and the Volt) is actually a Daewoo Delta platform vehicle designed in the ROK.

GM is already an Asian Car Company for all intents and purposes.

I have mixed feelings about this. But, if the Chinese (or anybody else) brought GMs, Fords, and Chryslers brands, plants, designs and engineering, they could start all over. They can't move all that stuff out of the USA quickly and would have to hire new workers (former UAW) to man the existing plants for some cash flow. The mistake would be if they brought the companies, then they would be stuck with all the crap that is now making the US automakers unable to compete now.

If we Americans are truly the innovative, industrious, and entrepreneurial people we used to be, then we can start new auto manufacturing companies without all the baggage that the current US automakers have. These new companies could be very competitive.

Good catch.  "Give us tax dollars or we'll have to sell...TO THE CHINESE!!!"  



 

Peter Schiff's take on it...


To Bail or Not to Bail

With the Big Three auto makers now in a plainly visible death spiral, the automotive bailout debate is kicking into overdrive. The disagreement hinges on whether a bailout is necessary to support an important industry or whether the unprofitable dinosaurs of the past should be allowed to fail as America focuses on an information-age, service sector, and alternative energy future.

As usual, both sides have it wrong. The government should let the Big Three fail not because we no longer need an auto industry, but because we desperately do. What we do not need is the bloated, inefficient auto industry that we have today. By allowing the Big Three to fail, their capacity will be turned over to new owners who will be able to acquire the means of production at fire sale prices and hire workers at globally competitive wages. The result will be a more efficient auto industry making cars that people around the world actually want to buy at prices they can afford. Such auto makers could conceivably be profitable and could become the cornerstone of a manufacturing renaissance in the United States. In contrast, Ford, Chrysler and GM are never ending money pits that threaten to swallow a good deal of our economy.

I hate to say it, but the US and China are moving in opposite directions....

the US is becoming much more socialist and Left leaning

China is steadily becoming more capitalistic and democratic

give the Chinese one or two generations, and give us one or two generations...and the result is going to be pretty damn sad......