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Meanwhile, Peak Symbolism In Front Of GM's Detroit Headquarters

Tyler Durden's picture




 

Let's see: do massive sinkholes next to the headquarters of other massive sinkholes, located in a bankrupt city that may soon become a massive sinkhole, qualify for Federal bailouts?

From Jalopnik:

Oh, what a great thing to happen during the auto show when thousands of people are in downtown Detroit! Crews are working to patch up this giant sinkhole outside the Renaissance Center, which is home to General Motors, among other things.

 

The sinkhole, 30 feet deep, is believed to have been caused by a water main break and was discovered Saturday night after a cab driver drove into it. The cab driver was rescued and there are no other injuries.

 

The Michigan Department of Transportation tells WXYZ that because of underground utilities and the sheer size of the hole, there's no telling how long it'll take to fix it up.

And here is how the sinkhole moves from the GM building, to the street adjacent.

h/t @noalpha_allbeta

 

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Tue, 01/21/2014 - 12:11 | 4351677 youngman
youngman's picture

GM is...was a sinkhole too...

Tue, 01/21/2014 - 12:15 | 4351685 AlaricBalth
AlaricBalth's picture

From channel stuffing to sink hole stuffing...what's next for Detroit???

Tue, 01/21/2014 - 12:22 | 4351694 Manthong
Manthong's picture

Cool..

"vaulted" streets..  just like The Fed and Fort Knox.

..just wait till the foundation falls out of downtown Chicago.

.. where is the Merc nowadays?

Tue, 01/21/2014 - 12:49 | 4351790 zerozulu
zerozulu's picture

moneypit, GM

sinkhole, Detroit

 

 

any combination you like.

 

Tue, 01/21/2014 - 13:36 | 4351939 Oquities
Oquities's picture

let's give them more loans

Tue, 01/21/2014 - 13:47 | 4352003 BuddyEffed
BuddyEffed's picture

Pretty much anywhere you go, the lowest common denominator is the sewer pipe.

Tue, 01/21/2014 - 15:20 | 4352492 HardlyZero
HardlyZero's picture

Just like Ghostbusters...can't they cross-the-flows and put the channel suffing into the pit ?

Tue, 01/21/2014 - 16:49 | 4352942 Manthong
Manthong's picture

aha!  you got it.

it's the financial ectoplasmic goop that is bubbling up and drowning all things good.

Tue, 01/21/2014 - 17:41 | 4353175 Poor Grogman
Poor Grogman's picture

Boris copper mining operations finally uncovered

Tue, 01/21/2014 - 12:23 | 4351717 A Nanny Moose
A Nanny Moose's picture

Finally, an application suitable for Volts

Tue, 01/21/2014 - 12:34 | 4351750 CheapBastard
CheapBastard's picture

"If you want to keep your sink ho, you can keep your sink ho."

Tue, 01/21/2014 - 13:13 | 4351782 Manthong
Manthong's picture

:-D from Volt-air..

“It is dangerous to be right in matters where established men are wrong.”

“The ancient Romans built their greatest masterpieces of architecture for wild beasts to fight in."

-Voltaire

http://en.wikiquote.org/wiki/Voltaire

Tue, 01/21/2014 - 12:14 | 4351686 Clint Liquor
Clint Liquor's picture

GM Bondholders finally see daylight!

Tue, 01/21/2014 - 13:02 | 4351829 PrecipiceWatching
PrecipiceWatching's picture

Speaking of the royally screwed GM Bondholders, exctly why (aside from the "progressive" liberal media covering once again for their Magic Negro), wasn't that the financial scandal story of the century?

Tue, 01/21/2014 - 13:18 | 4351878 Manthong
Manthong's picture

..because they own the "journalists". 

 They are not out there to give you news and reasoned opinion, they are out there to give you "the line".

Tue, 01/21/2014 - 13:28 | 4351914 Bangin7GramRocks
Bangin7GramRocks's picture

Because they were going bankrupt for years. Any conservative investor already fled. It was only sharks looking for an easy buck that owned those bonds. They gambled on a worthless company and lost. And don't tell me about rule of law. The only rule of law that was followed in those 2 years was the bonus payments to the AIG criminals. In other words, fuck them all!

Tue, 01/21/2014 - 21:48 | 4354044 patb
patb's picture

The GM Bonds issue was legal. Supreme Court said so.

The IRS as Super-Senior creditor opted to pass on taxes owed but, to reboot the company.

 

Unusual, but legal

Tue, 01/21/2014 - 14:24 | 4352211 Oldwood
Oldwood's picture

And why are they payng bonuses and dividends to employees and "new GM" stock holders when there are still thousands out there completely fucked by this travesty of law?

Tue, 01/21/2014 - 15:01 | 4352382 Bangin7GramRocks
Bangin7GramRocks's picture

Boo Hoo! They should have followed all of the rules of law and the entire banking sector and automotive sector would've ceased to exist in 2009. Everyone would be bankrupt. Stop being such an idealistic pussy.

Tue, 01/21/2014 - 17:45 | 4353187 SDShack
SDShack's picture

You obviously don't know the difference between Chapter 7 and Chapter 11 bankruptcy, or how the laws were violated in GM's and AIG's case. Thanks for playing.

Tue, 01/21/2014 - 12:24 | 4351720 USA USA
USA USA's picture

What is behind thet red brick wall in the movie at 9 and 17 secs?

Tue, 01/21/2014 - 12:38 | 4351762 HoofHearted
HoofHearted's picture

Jimmy Hoffa

Tue, 01/21/2014 - 12:44 | 4351776 Headbanger
Headbanger's picture

Oh look.. There goes Geraldo Rivera to find out!

Tue, 01/21/2014 - 12:51 | 4351798 Papasmurf
Papasmurf's picture

CNN on the scene, with Jane Valez and Nancy Grace, "what did you think when you saw the severed head"?

Tue, 01/21/2014 - 13:04 | 4351840 Rukeysers Ghost
Rukeysers Ghost's picture

There is an easy solution for this. GM should fill the hole with all the unsold Chevy Volts. This is a win win for Detroit and GM.

Tue, 01/21/2014 - 13:53 | 4352036 caShOnlY
caShOnlY's picture

GM is...was a sinkhole too.

just wait until the 33 billion taxpayer donation and 20 billion IPO cash run out.  "new" GM's mantra will be ... "We're b-a-a-a-a-a-a-a-c-k!!!"

just a matter of time really, old dog's never learn new tricks.

 

Wed, 01/22/2014 - 01:40 | 4354569 huntergvl
huntergvl's picture

The correct term is, "MONEY HOLE!"

We have finally moved from dumping out in the middle of nowhere, to being able to pour money down the hole at the actual location where dumping money into a hole serves america, best.

http://www.theonion.com/video/in-the-know-should-the-government-stop-dumping-mon,14289/

 

Tue, 01/21/2014 - 12:12 | 4351678 NotApplicable
NotApplicable's picture

My day is complete.

Tue, 01/21/2014 - 12:24 | 4351719 The man with po...
The man with pointy horns's picture

Maybe GM could 'channel stuff' the sink hole, ha ha!

Tue, 01/21/2014 - 15:23 | 4352507 HardlyZero
HardlyZero's picture

Two peas in a sink hole (we think alike).  We can start a "Channel Stuffing for Sinkholes" LLC !

Tue, 01/21/2014 - 12:12 | 4351679 Save_America1st
Save_America1st's picture

Detroit is America's "Greece"...and nobody even seems to give a shit.

Tue, 01/21/2014 - 12:16 | 4351691 One And Only
One And Only's picture

Remind me again why it's my fault and why I should give a shit.

Detoit should gets it shit together and that's not my responsibility.

Tue, 01/21/2014 - 13:08 | 4351856 kridkrid
kridkrid's picture

You should only give a shit if you feel that Detroit is merely the canary in a coal mine. Detroit has gotten to where it is today more quickly than the rest of us but Detroit is not unique in the things that ails it.

Tue, 01/21/2014 - 12:25 | 4351723 The man with po...
The man with pointy horns's picture

Out of sight is truly out of mind Save_America1st.

Tue, 01/21/2014 - 15:34 | 4352566 Offthebeach
Offthebeach's picture

Once it became clear that The People's Missile Army of USSR was never going to nuke Detroit, the last hope was lost.

Tue, 01/21/2014 - 12:13 | 4351680 TeamDepends
TeamDepends's picture

Deposit loan payment here:

Tue, 01/21/2014 - 12:13 | 4351681 hankwil74
hankwil74's picture

Just fill it with dollar bills and pour some Quikrete over it.

 

/Bernanke'd

Tue, 01/21/2014 - 12:14 | 4351682 shermacman
shermacman's picture

Who says there is no good news?

Tue, 01/21/2014 - 12:14 | 4351684 ebworthen
ebworthen's picture

Crumbling infrastructure  as Trillions go to parasitic banks and crony capitalist inventory pushers.

And we're not supposed to judge people or promote them based on gender but we've got a vagina at the helm of GM.

Whoopee!

USSA!

Tue, 01/21/2014 - 17:47 | 4353198 SDShack
SDShack's picture

But I thought 0zer0's 2009 Porkulus bill was all about fixing the infrastructure. How can this happen?

Tue, 01/21/2014 - 12:17 | 4351689 GolfHatesMe
GolfHatesMe's picture

Did Kevin Henry just take a bathroom break? 

Tue, 01/21/2014 - 12:18 | 4351697 MR166
MR166's picture

OK guys, I hate Detroit and the union strangle hold it represents as much as the next guy but you cannot call that a "Massive" sink hole by any stretch of the imagination.  Now if it were to swallow an entire block of Detroit that would be cause for celebration........"One small step for man...........".

Tue, 01/21/2014 - 12:23 | 4351713 Dr. Engali
Dr. Engali's picture

I wouldn't want to drive into the thing.

Tue, 01/21/2014 - 14:27 | 4352221 Oldwood
Oldwood's picture

They are just pissed because they drained the swimin hole.

Tue, 01/21/2014 - 12:18 | 4351698 Spungo
Spungo's picture

Even after taking a 30 foot drop, the cab driver is in better shape than GM.

Tue, 01/21/2014 - 12:20 | 4351701 LetsDoThisAlready
LetsDoThisAlready's picture

Market is down today...following the McClellan oscillator 1929 DJIA graph (google it), this could be a big correction coming. At least I freakin' hope so....

Tue, 01/21/2014 - 12:24 | 4351706 Dr. Engali
Dr. Engali's picture

It's halftime in America bitchez, and Detroit in coming back.

http://youtu.be/IRtvpMPLQ8o

http://youtu.be/SKL254Y_jtc

At least that's what the teevee told me.

Tue, 01/21/2014 - 12:21 | 4351707 Bogdog
Bogdog's picture

You didn't build that.

Oh wait....

Tue, 01/21/2014 - 12:28 | 4351716 all-priced-in
all-priced-in's picture

Five (no make that seven) unionized public works department employees standing at the edge of a hole doing nothing.

 

 Classic. 

 

 

 

  

Tue, 01/21/2014 - 12:47 | 4351784 TeamDepends
TeamDepends's picture

Hey now, one of them is supervising the doing of nothing.

Tue, 01/21/2014 - 17:55 | 4353232 cynicalskeptic
cynicalskeptic's picture

You have that wrong.   The seven of them are supervising the ONE guy in the hole who's 'working'.

Tue, 01/21/2014 - 12:24 | 4351724 realitybiter
realitybiter's picture

"If I had an indicator of the success of my administration's bailing out the economy it would look like that sinkhole"

 

Now quit bothering me.  I am bizzy with greece and bin laden.

 

git over her Jayzee!  March madness is comin'!  Lets look at our pix!

Tue, 01/21/2014 - 12:26 | 4351725 Uncle Remus
Uncle Remus's picture

Peak peak.

Tue, 01/21/2014 - 12:32 | 4351746 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

GM: The deadbeat of Amerika

Tue, 01/21/2014 - 12:34 | 4351754 Seasmoke
Seasmoke's picture

Annnnnd....... it's gone. 

Tue, 01/21/2014 - 12:40 | 4351756 Mercury
Mercury's picture
Meanwhile, Peak Symbolism In Front Of GM's Detroit Headquarters

 

Not as "Peak" as the 9/11 Memorial sinkhole(s):

http://0.tqn.com/d/architecture/1/0/H/-/1/National-9-11-Memorial-WideAng...

DOWN
THE
DRAIN

 

Tue, 01/21/2014 - 12:37 | 4351759 CheapBastard
CheapBastard's picture

Very propitious sign...a sinkhole as 2014 begins....

Bullish!

Tue, 01/21/2014 - 12:43 | 4351771 youngman
youngman's picture

For all the killing going on there....its probably just a new Potters Field for mass burial....

Tue, 01/21/2014 - 12:43 | 4351772 replaceme
replaceme's picture

i bet you could put a shitload of trucks in that hole - winning!

Tue, 01/21/2014 - 12:45 | 4351779 topspinslicer
topspinslicer's picture

It be racist not to say nice things aout Detroit -- you will be slammd and interogated by the media in that order

Tue, 01/21/2014 - 13:00 | 4351824 Yen Cross
Yen Cross's picture

      They should entomb all the leftover 'Chevy Volts' in that sinkhole.

Tue, 01/21/2014 - 13:02 | 4351831 Bunga Bunga
Bunga Bunga's picture

Finally a new job in Detroit! 

Tue, 01/21/2014 - 13:08 | 4351852 carbonmutant
carbonmutant's picture

Detroit is a bottomless pit...

Tue, 01/21/2014 - 13:34 | 4351930 tongue.stan
tongue.stan's picture

Looks like a classic cup-and-handle formation.

Happy days are here again!

Tue, 01/21/2014 - 13:38 | 4351947 Byte Me
Byte Me's picture

Wot? No "shelter in place"

Oportunity wasted.

Tue, 01/21/2014 - 15:05 | 4352409 deepsouthdoug
deepsouthdoug's picture
More like 'Deep' Symbolism don't you think?
Tue, 01/21/2014 - 15:17 | 4352478 all-priced-in
all-priced-in's picture

Things must really be tough in Detroit - back in the good old days the "workers" standing around staring into the hole in the ground at least had shovels to lean on.

 

Maybe this isn't a shovel ready project.

 

 

Tue, 01/21/2014 - 16:54 | 4352973 brombones
brombones's picture

Throw some money in that mother!

Tue, 01/21/2014 - 21:59 | 4354079 hesk
hesk's picture

China making a direct route.

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