GM Bankruptcy Plans

Verio · 05-20-2009, 06:26 AM

I hope this isn't new news? Sorry if it's a repost.

http://www.reuters.com/article/merge...43363120090519

Lovestanda · 05-20-2009, 07:34 AM

Think we all know GM will not retain it's current configuration. I for one have stopped worrying about it. My only hope is everyone gets thier ride despite GM's financial woes. I think we will all be fine. I really don't see the Camaro being greatly effected by all this mess. Stay optimistic!!!! Let's talk about the car and keep having fun!!!

If I'm wrong well, nevermind

Lovestanda · 05-20-2009, 07:43 AM

Don't like the idea of the government bailing anyone out of debt. If that means no Camaro---well that sucks but so be it. :(

Verio · 05-20-2009, 07:57 AM

Quote:

Originally Posted by Lovestanda

Don't like the idea of the government bailing anyone out of debt. If that means no Camaro---well that sucks but so be it. :(

Well, unfortunately, the overwhelming population of the United States does not agree with you, or me for that matter. Politics aside, I wish companies would be held responsible for their own actions. If it was myself who were in financial dires right now... I don't think the government would be buying my viral assets.

nards444 · 05-20-2009, 08:24 AM

Got to look at big picture here. But those plans are nothing new. If GM goes here they will already have a plan in place and this process should be done in month. Production is not going to stop unless suppliers dont supply. But they should because GM wont be filing CH 8. I dont think GM is the worse off then chrylser. Think about what chrysler has just the truck and van other than that nothing. GM has the truck, SUV's cars and medium trucks. Ford seems to be doing better, but they might be good for the short term and this might hurt them later we will see. Although FORD did do a lot of what GM and Chrysler are doing now 3 years ago. I think GM's decision to get rid of dealers was a smart idea, closing Pontiac will help but think it kind of sucks. Saab and saturn wont be a big loss if they get rid of it, I think would be viable to sell as they would not create that much competition, but i would not sell the pontiac name, i think that could come back to hurt them

DkknightX · 05-20-2009, 08:34 AM

Welcome to the new "Government Motors!"

Supermans · 05-20-2009, 08:50 AM

In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans that the U.S. has already provided to GM, the source said.

That's 15.4 billion that GM was supposed to pay back thru hard work and change....poof..gone..

New CAFE standards and now Government control of GM... So now no more competition since the paycheck is assured.. I wonder how the foreign car companies are going to respond to their new competitor..The US government...

Enator · 05-20-2009, 08:54 AM

Quote:

Originally Posted by Supermans

In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans that the U.S. has already provided to GM, the source said.

That's 15.4 billion that GM was supposed to pay back thru hard work and change....poof..gone..

New CAFE standards and now Government control of GM... So now no more competition since the paycheck is assured.. I wonder how the foreign car companies are going to respond to their new competitor..The US government...

If it is so then Camaro is one of the cars which can go off the production line

Lee9710 · 05-20-2009, 09:58 AM

I do not worry about this anymore. There is nothing we can do but take it for what it is. If it saves the company and keeps cars flowing, then so be it. I would like to keep seeing and buying GM cars so if we have to bail em out......oh well. It's not like we all have a say in the matter. So just send me my Camaro and I'll be on my way.

nards444 · 05-20-2009, 11:54 AM

You guys hate the government giving money away to companies. But news flash we spend 2 billion a day in Iraq that provides no benefit or we will never see again

Captain Awesome · 05-20-2009, 12:26 PM

Quote:

Originally Posted by Lee9710

I do not worry about this anymore. There is nothing we can do but take it for what it is.

It's this kind of attitude that got us into all these messes in the first place. YOU have to power to change these things. You have do take action. It's easy... all you need to do is get out and VOTE.

It's too bad people who warned us of this stuff were silenced. I bet more educated people could have turned the tide.

Captain Awesome · 05-20-2009, 12:29 PM

Quote:

Originally Posted by nards444

You guys hate the government giving money away to companies. But news flash we spend 2 billion a day in Iraq that provides no benefit or we will never see again

Don't forget that much of that oft cited 2-billion a day is made up of regular operating costs of having an army. You could spend 2 billion a day on soldiers helping people in iraq, or you could be spending 2 billion a day to have them sit around bases in the U.S. drinking coffee and scrubbing toilets.

Let's try and avoid the skewed figures that are used to justify unjust criticism.

PsyDoc · 05-20-2009, 02:54 PM

Quote:

Originally Posted by Verio

Well, unfortunately, the overwhelming population of the United States does not agree with you, or me for that matter.

Well, a February Gallup poll had 7 out of 10 opposed to such bailouts. I'm thinking that the majority of the population does not believe that government should be bailing out private companies.

fdjizm · 05-20-2009, 03:05 PM

Wait they are not paying back 15.4 billion dollars?

how do you just get away with that? nice to see where my tax money goes.

05-20-2009, 06:26 AM	#1
Verio Taking it 1 day at a time Drives: 2010 Chevy Camaro 2SS/RS Auto Join Date: Apr 2009 Location: San Antonio, TX Posts: 748 View My Garage	GM Bankruptcy Plans I hope this isn't new news? Sorry if it's a repost. http://www.reuters.com/article/merge...43363120090519 __________________ Order#: NJWGTF 1100, Preliminary order accepted 04/27/2009 6000, Delivered to the customer 07/23/2009 - 3 Months (worth the wait!!)

05-20-2009, 08:50 AM	#7
Supermans Camaro & Stang Enthusiast Drives: 2011 Mustang 5.0 in Kona Blue Join Date: Mar 2008 Location: Miami Posts: 4,729 View My Garage	In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans* that the U.S. has already provided to GM, the source said.* That's 15.4 billion that GM was supposed to pay back thru hard work and change....poof..gone.. New CAFE standards and now Government control of GM... So now no more competition since the paycheck is assured.. I wonder how the foreign car companies are going to respond to their new competitor..The US government... __________________ Bought my Camaro from Eric Hall(817) 421-7266

05-20-2009, 09:58 AM	#9
Lee9710 Drives: 2013 Summit White ZL1 Join Date: Mar 2009 Location: Yelm, WA Posts: 629 View My Garage	I do not worry about this anymore. There is nothing we can do but take it for what it is. If it saves the company and keeps cars flowing, then so be it. I would like to keep seeing and buying GM cars so if we have to bail em out......oh well. It's not like we all have a say in the matter. So just send me my Camaro and I'll be on my way. __________________ Proud Owner of the baddest Camaro ever built ZL1

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05-20-2009, 07:34 AM	#2
Lovestanda Large Member Drives: Yugo SS Join Date: Apr 2009 Location: South Jersey Posts: 428	Think we all know GM will not retain it's current configuration. I for one have stopped worrying about it. My only hope is everyone gets thier ride despite GM's financial woes. I think we will all be fine. I really don't see the Camaro being greatly effected by all this mess. Stay optimistic!!!! Let's talk about the car and keep having fun!!! If I'm wrong well, nevermind

05-20-2009, 07:43 AM	#3
Lovestanda Large Member Drives: Yugo SS Join Date: Apr 2009 Location: South Jersey Posts: 428	Don't like the idea of the government bailing anyone out of debt. If that means no Camaro---well that sucks but so be it. :(

05-20-2009, 08:24 AM	#5
nards444 Drives: 1SS/RS Black Join Date: May 2009 Location: New york Posts: 2,123 View My Garage	Got to look at big picture here. But those plans are nothing new. If GM goes here they will already have a plan in place and this process should be done in month. Production is not going to stop unless suppliers dont supply. But they should because GM wont be filing CH 8. I dont think GM is the worse off then chrylser. Think about what chrysler has just the truck and van other than that nothing. GM has the truck, SUV's cars and medium trucks. Ford seems to be doing better, but they might be good for the short term and this might hurt them later we will see. Although FORD did do a lot of what GM and Chrysler are doing now 3 years ago. I think GM's decision to get rid of dealers was a smart idea, closing Pontiac will help but think it kind of sucks. Saab and saturn wont be a big loss if they get rid of it, I think would be viable to sell as they would not create that much competition, but i would not sell the pontiac name, i think that could come back to hurt them

05-20-2009, 08:34 AM	#6
DkknightX Account Suspended Drives: 2006 Chevrolet Cobalt SS/SC Stage 2 Join Date: Dec 2008 Location: Emerson, NJ Posts: 1,347 View My Garage	Welcome to the new "Government Motors!"

05-20-2009, 11:54 AM	#10
nards444 Drives: 1SS/RS Black Join Date: May 2009 Location: New york Posts: 2,123 View My Garage	You guys hate the government giving money away to companies. But news flash we spend 2 billion a day in Iraq that provides no benefit or we will never see again

05-20-2009, 03:05 PM	#14
fdjizm Account Suspended Drives: 2008 Mustang GT/CS Join Date: Mar 2009 Location: New Jersey Posts: 1,429 View My Garage	Wait they are not paying back 15.4 billion dollars? how do you just get away with that? nice to see where my tax money goes.