GM possible Bankruptcy

[MJLO 294]

So i'm reading this article on CNBC about a possible GM Bankruptcy. It talks about an interview with GM's CEO, Fritz. In it suggests that GM would be open to relocating out of Detroit. I think that's insane, I think that with all the gov't control, they wouldn't allow GM to leave Detroit, because of the message it would send. It would be an awful psycological blow to the Detroit area to lose to lose such an iconic Giant that has shaped the city. It would piss me off greatly if something like that happened, i've been a loyal GM customer as long as I could drive. If they stayed somewhere in Michigan, it wouldn't be as bad. If they went somewhere in the midwest, I'd start looking at Fords. If they went to the south, I'd start buying Hondas. What r y'alls thoughts?

[suburban george3 1]

Considering the bulk of their manufacturing facilities are located centrally to Michigan, I would find it hard to believe they would leave their offices in Detroit. I'm not sure what savings they would gain from this, unless it's just to get a fresh start for the company. It would make no sense for them to move out of the region, IMO. However, if the HQ leave's Detroit, it seems that would almost be a death blow to this once great city.

[Grandrapidsne 0]

I believe they will be staying in the Detroit area just not downtown Detroit perhaps here is the article i saw.

Deleted - Please don't clip and post news articles. It's in the rules

[Lmichigan 5]

This is all due to Mayor Fouts of Warren publically offering a plan to house GM headquarters at the Tech Center, I believe. It was an incredibly silly thing for him to do. Fouts has become one of the biggest media whores in the entire region since he took office and it's really quite embarrassing. Another rumors is that they are looking to move to Delaware, for obvious reasons. I personally think it's a whole lot of nothing, but these rumors need to be quashed by the auto task force and all of the regional leaders quickly, and Henderson needs to be put on notice that to entertain something so silly would be career suicide.

[MJLO 294]

I dont disagree, and with the government so involved with the auto industry right now, I can't imagine from a PR standpoint alone that they'd let that happen.

[wolverine 0]

Sorry, but I'm honestly tired of hearing this being brought up. Trust me on this, that GM will not be vacating the RenCen anytime soon. But when you are a company close to bankruptcy, you go through the checklist of items to be considered when restructuring. I think people are over-reacting, but even if they do move, what would be the surprise? There's a lot more ugly stuff to come, that makes this issue look like a minor bump in the road.