Hmm, guess I am first.

And glad this finally happened. Should have happened at least six months ago.

Welcome to Obama Motors continuing follow in the example of Am-Trak and the US postal service.

I hope they keep Saturn, there the only gm branch that brings something new and inspiring. Oh and most of its models are euro rebadge.

Central bank, oh central bank.. The ways you make money.

They are changing the name.

GM is now GOVERNMENT MOTORS

Doesn't Rusia have one of those? At least ours will be a bit better quality.

They are changing the name.

GM is now GOVERNMENT MOTORS

Doesn't Russia have one of those? At least ours will be a bit better quality.

They are changing the name.

GM is now GOVERNMENT MOTORS

Doesn't Russia have one of those? At least ours will be a bit better quality.

Thank you Obama administration for wasting incredible amounts of bailout money on this company. Next think you know they will claim "But....but....we didnt know they were that bad off." Please....

Cant wait for 2012

@ 6thgear
Saturn is on the axe list. That and Pontiac, Saab and Hummer.

I won't miss any of those brands =P

yea i wonder if any car company is suicidal enough to pick up hummer. i wish they would have shopped Saturn around. i'm going to miss the Saturn sky

The list of who stays and who goes is going to make very interesting reading. If anyone has any info on this list, or a link to it, please post

can i get my bailout money back?

oh wait...

I am glad Obama is living up to his campaign promise of fiscal responsiblity, ha, oh I know "At least he is trying", what a joke. I keep hearing that two equity firms and Saturns largest dealers are trying to buy Saturn, I have heard this a few different times from different sources, any news?

Never mind, From the Associated Press,"GM says it has 16 potential buyers for Saturn and three parties are interested in the Swedish Saab brand, Hummer has been sold to an undisclosed buyer."

In all seriousness...

If you are like me & do not agree with Obama bailing out the auto companies like GM & Chrysler do not reward them with buying anything from GM or Chrysler...

This is no joke I was getting ready to buy a Chevy Camaro but I will not buy one now... I am looking at a Ford Mustang....

You guys are funny. Your hero Bush was going to do the same exact thing. So the alternative? Let GM go down, and a huge industry fail, and a large ripple effect through out the land. But I guess it is better to see America fail than to at least try to save it. Oh, and if GM should fail, you'll blame Obama too. What a mess Bushy left, there are no good choices, but this one is neccessary. Please remove your head from your rear.

If you get your wish in 2012, there will be another false war we can start and spend trillions on instead, no bid contracts, truck loads of money magically vanished, emergency spending bills to hide the true costs.. Oh, and you'll blame Obama on that too..

All that bailout money. We didn't even get to wipe our arses with it.....

In all seriousness...

If you are like me & do not agree with Obama bailing out the auto companies like GM & Chrysler do not reward them with buying anything from GM or Chrysler...

This is no joke I was getting ready to buy a Chevy Camaro but I will not buy one now... I am looking at a Ford Mustang....

@John:

"Let GM go down, and a huge industry fail..."

You don't get it do you? GM did fail. They're now being propped up with an endless supply of money stolen from taxpayers.

"To aid in the process the U.S. treasury is going to provide an additional $30 billion to finance GM during the bankruptcy, which brings the total to almost $50 billion."

Where do you think all that money comes from? Do you seriously think there's no downside to addressing problems by printing more money?

@Think: While I don't necessarily agree with Obama bailing out the auto companies, I think your 'idea' is even more foolish.

The government have already soaked us for billions in taxpayer money, and you are telling me to waste even more government money by not buying a car that I might want?

If GM becomes profitable again (which I think will be sooner rather than later) the government can start selling it's 60% share in the company, and recoup the money it 'invested'. If GM does a really good job (finger's crossed), the government might actually make money, which I think is illegal or something ;)

I guess since they used my tax dollars already, I'd like to hope that the investment will pay off, even if I won't see a dime from it.

Americans should consider supporting domestic automakers more. You buy foreign cars, then American jobs are lost which affects your home values and so many other things, plus foreign companies get your money, buy remaining American companies and you end up working for a boss in Korea or Japan.

Does this mean we have to fill out extensive, complicated paperwork and itemize our belongings and spending when we apply for a car loan now? I don't want to make another trip to H.R. Block this year... If it breaks down can I claim it as a dependant?

@ Jabberwocky:

The extensive paperwork will have to be designed by an overpaid consulting firm ( 1-5 months). Then the politicians have to debate the need for official paperwork at 3 levels of government (12-18 months). Once the approval for the need for official paperwork has been determined, the form designed will be out-of-date, and another consultanting firm will be hired to update the form. The new firm will completely disagree with the old firm over as many points as possible, and recommend that the old form be scrapped for their new-and-improved form. This will entail an additional 12-18 months of debate, as the opposition will want to drag out how public money was wasted on the first consulting firm, to embarass the current government.

Unfortunately, after all of this time and public money being spent, we are in the midst of a new election, and no-one will want to spend more money to approve anything that the 'old' administration was working on for fear of taint by association. So now we wait for the election to finish.

If Obama gets back in, the forms will be approved. If not, the whole process starts all over again.

Of course, since dealers were told that they couldn't sell cars until they received the new forms some 4 years ago, no-one has been able to buy a GM car since then, and trillions of taxpayer money has gone to prop up GM while this 'critical' administration issue is resolved.

But yes, the approval to claim the car as a dependant will go through in record time, as that makes the politicians look good. You will never be able to buy the car to claim the benefit however, so it's a moot point.

@ Paul:

Even if the GM Govt combo is a success, you really think you will see the money they spent on your behalf? The Govt will waste, loose, misuse the money like they always do...

Don't forget Amtrak looses a couple of billion a year & who runs it? The wise efficient US Gov't...

@Think: I already said I won't see a dime from it. While it was written in satire, the official forms post I wrote is pretty close to the truth as well. I have no illusions about how big a mess this is going to be.

I would like to be wrong however.

@ DJS

I would rather have a stable job & work for boss in Korea or Japan than GM who is always laying people off...

Honda, Toyota, Nissan, BMW all build cars here in the US... So jobs do stay here...

& if everyone thought like you did then GM & Ford would not be able to sell cars in the global market...

Currently GM sells more cars outside of the US...

Yup, Toyota, Honda, Nissan, BMW, they all ASSEMBLY cars here. But a whooping 20% of the parts for the import cars are built in America, unlike the 80% for domestic cars which are made in America. That means more American jobs. The Big 3 likewise still employ about 500,000 workers, vs the 40,000 or so for the imports.

As for layoffs, well Nissan was down 31.1% last month, Toyota was down 38.4% and Honda was down 39.2%. GM and Chrysler, despite the doom and gloom, were down 29.6% and 30% respectively. So much for the imports being the cars people want to buy. The imports are sinking faster then the domestics. The imports have also announced mass cuts/layoffs, etc.

"Currently GM sells more cars outside of the US.." Well, I would hope since there are a) more people in the world then in the US, b) the world is a bigger market then just the US, and c) you compared one market to, wait for it, the world.

For your name, you don't seem to think very much...

Obama got to save his campaign supporters. This is just a transfer of wealth to the UAW. Obama was suppose to help the common man but it isn't working out that way. His definition of the common man is the union worker. Everybody else gets the shaft and has to pay for it. I suppose California is too big to fail also. Then add several other states, federal workers, and cities going broke to that list which are mostly union workers.

@ Avatar:

To your first point: Not anymore its not working out...The US jobs are shrinking to nothing....

Are any of the major import in Chapter 11? No, so their sales may be down but they are in a much better position that the US auto makers & you know it...

And your last point.. Duh.. Yeah so what? I was saying to the people that "only buy American" That that type of thinking or action would hurt GM since they sell more cars outside the US that in the US & so that means you can expect people in other country's to by a foreign auto "GM" if we refuse to buy foreign auto's.. Get it?

Because the industry is shrinking. Imports are cutting the same as domestics. What about that nice, shiny truck factory in Texas Toyota built a couple years ago for 'the truck that's changing everything'? Those workers aren't doing so well right now, are they?

Better position how exactly? If you are bleeding faster then the competition, sooner or later it will catch up to you. Look at GM and Chrysler, case and point. Besides, the imports from Japan have been getting help from Japan since they were born. Then this 'free trade' market BS. Sure, Korea, you can export as many vehicles here as you want but when you want to import only a few thousand vehicles from America a year, that's okay. Then, the time old UAW leeching off the domestics.

What is foreign exactly? Opel is considered German despite being owned by GM. Vauxhall is British, Holden Australian, and Daewoo Korean. Now brands like Pontiac, Cadliac, Chevy, Saturn, Hummer, Buick, etc are considered American. Toyota and Honda, Japan, no matter where they are sold. And again, the bulk of parts for domestics are made here. Japanese cars, parts come from Japan. German cars, Germany. Holden gets all its parts from down under, minus some engines and transmissions (GM has been/is going global with its power trains to save costs).

But that still isn't the point, because other countries do buy their countries products/vehicles more then American. You are still comparing a global market with one segment. The global market, one would hope, would be larger then US market since it is a larger piece of pie. GM still sells more vehicles here then any other country however, by a very wide margin.

toyota honda are dropping more since gm ford are making HUGE price drop....(because they have too many cars on the market....)

for now... american cars are a pretty good deal....

"Besides, the imports from Japan have been getting help from Japan since they were born. "

know that american are putting tax on import cars too... thats why these goverment are helping their car company...

@jETTTO

"know that american are putting tax on import cars too... "

Jappan and Europe have taxed American cars ever since we sold them there.

"thats why these goverment are helping their car company... "

No, it's not.