Chevrolet Corvette Stingray C7 Forum - View Single Post - Not Good, GM wants another 16 or is it 9 Billion to Survive.

War Eagle · 02-17-2009, 10:39 PM

GM should have gone Chapter 11 to start with. Now we are talking about spending a lot more tax payer money to save a Company with a book value of only 1.33 Billion as of today.

They would be OK in Chapter 11 and could come out stronger and not be hamstrung with the Dealer and UAW contracts.

I really want GM to make it but they just can't make the tough decisions to do what they need to do. GM has had years to make the right decisions and did not. Now with their back to the wall they still don't have the leadership to get it done. The only reason they even have a plan at all is because Congress made them put it together. What the heck have these guys been thinking and doing the past five years.

Hanging on to Pontiac with two models is not cost effective, they need to go ahead and pull the plug on it, they eventually will have to anyway.

Dam, I am really looking foward to my SS Camaro and the drama is wearing a little thin.

Steve

02-17-2009, 10:39 PM	#99
War Eagle Drives: 1969 Chevelle, Avanti, 2010 GT500 Join Date: Dec 2008 Location: Florida Posts: 179	GM should have gone Chapter 11 to start with. Now we are talking about spending a lot more tax payer money to save a Company with a book value of only 1.33 Billion as of today. They would be OK in Chapter 11 and could come out stronger and not be hamstrung with the Dealer and UAW contracts. I really want GM to make it but they just can't make the tough decisions to do what they need to do. GM has had years to make the right decisions and did not. Now with their back to the wall they still don't have the leadership to get it done. The only reason they even have a plan at all is because Congress made them put it together. What the heck have these guys been thinking and doing the past five years. Hanging on to Pontiac with two models is not cost effective, they need to go ahead and pull the plug on it, they eventually will have to anyway. Dam, I am really looking foward to my SS Camaro and the drama is wearing a little thin. Steve __________________ Back in a Chevelle after 41 years.