Quote:
Originally Posted by stovt001
Even in the case of Ch. 7 its possible a buyer could buy "Camaro" as an asset and build it. As long as the public can be educated as to what Ch 11 means and could be assured warranties would still be honored and parts would still be available, Ch. 11 might produce some benefits to GM, like better dealer and supplier arrangements. This could potentially lead to industry-wide changes, perhaps even the ability to buy online direct from the manufacturer. Time will tell. As risky as Ch. 11 is, some of the possible benefits are very appealing. The big downside is the huge job losses, but the auto-industry as a whole is shrinking. Fewer cars will be bought in the future, so those jobs are questionable anyway.
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If/when GM officially files and is legally under the ch 11 process, they desparately need to reassure the public they will still exist and they are doing this to become a stronger company in the long run. For years, I have been begging anyone at GM I could communicate with (including our Scott) to have Bob Lutz appear personally in ads, and be relentless but calm and reassuring with them. Lee Iacocca did that when Chrysler was recovering from a govt loan and it worked. Iacocca got to a personal level with Americans, appealed to them not as a CEO but as someone who genuinely wanted you to experience a new Chrysler product.
I know Bob is retireing, but people would trust and believe in him. He's a car guy, not a numbers guy.
And GM needs to show people they still make cool cars and aren't just another American company.