General Motors is prepared to file for bankruptcy on Monday. Washington has spent billions of dollars in an effort to revive GM’s economy. But things are still not looking good and they are expected to file before the markets open on Monday. If General Motors files for BK on Monday it will be the largest industrial bankruptcy our country has ever seen.
Never did I think I would see the day that General Motors would fall. It has been an essential part of the United States heritage. To have a brand new Chevy in the driveway has been many American’s dream. Being a General Motors fan myself it seems utterly outrageous that this could happen. I prided myself on buying American (always GM) but in the last few years I too have caved and switched to foreign models.
GM did not cut the mustard. Being a business owner I expect no bailouts for any wrong business decisions that I might make. So please no bailouts for GM. It may be hard to stomach. Many employees have already lost their jobs but there must be accountability and if it has to start with the big boys to show an example then so be it.
Investors becoming disillusioned with the stock market are searching for alternative investments to try to gain back some of their lost money. As retirement looms closer for many baby boomers there is a certain urgency. Let’s use the old American ingenuity and take control over our finances.
Filed under: Alternative Investments, stock market | Tagged: alternative investment, baby boomers, bailouts, bankruptcy, General Motors, GM, investors, stock market
