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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youngman's picture

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

AlaricBalth's picture

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

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?

zerozulu's picture

moneypit, GM

sinkhole, Detroit

 

 

any combination you like.

 

Oquities's picture

let's give them more loans

BuddyEffed's picture

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

HardlyZero's picture

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

Manthong's picture

aha!  you got it.

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

Poor Grogman's picture

Boris copper mining operations finally uncovered

A Nanny Moose's picture

Finally, an application suitable for Volts

CheapBastard's picture

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

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

Clint Liquor's picture

GM Bondholders finally see daylight!

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?

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".

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!

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

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?

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.

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.

USA USA's picture

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

Headbanger's picture

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

Papasmurf's picture

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

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.

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.

 

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/

 

NotApplicable's picture

My day is complete.

The man with pointy horns's picture

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

HardlyZero's picture

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

Save_America1st's picture

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

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.

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.

The man with pointy horns's picture

Out of sight is truly out of mind Save_America1st.

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.

TeamDepends's picture

Deposit loan payment here:

hankwil74's picture

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

 

/Bernanke'd

shermacman's picture

Who says there is no good news?

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!

SDShack's picture

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

GolfHatesMe's picture

Did Kevin Henry just take a bathroom break? 

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...........".

Dr. Engali's picture

I wouldn't want to drive into the thing.

Oldwood's picture

They are just pissed because they drained the swimin hole.

Spungo's picture

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

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....

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.

Bogdog's picture

You didn't build that.

Oh wait....

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. 

 

 

 

  

TeamDepends's picture

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