Pre Packaged Bankruptcy

[The_Blur]

Originally Posted by FirstLSK

SWEET !!!!!!!!

THIS SITE HAS SOMETHING TO SPECULATE ABOUT AGAIN !!!!!!

The Z28 will come with federally subsidized loans.

[Design1stCode2nd]

Any deal without a pre-pack chap 11 will be a waste. If its a government backed warrant like the guy from Moody is suggesting and I can be sure of parts down the road and there is monetarily compensation (incentives) then I would buy one.

If they write a blank check and give them 34 bil. they will be back within a year (at least GM and Chrysler).

Already people are not buying D3 vehicles because of the hearings now among other reasons.

If its' pushed as a federally backed restructuring under chapter 11 and there is frank and honest discussion with the American people on how the D3 will return to profitability I think you would have buyers.

They do need to wipe management clean as well as the BoD except for Mullaly.

[seeknay2000]

I haven't put my order in yet only because I won't be in States until September - but the last thing I'm worried about is GM going bankrupt. If they do go bankrupt they can restructure, get organized, and come out 10x better in a couple years. Also, should the world end, GM completely goes bankrupt, and this is the last camaro every built - I would DEF. want one anyway. For me, as long as GM gives me my car, I'll give them my money.

This is a performance car with the camaro/chevorlet name brand, if you're truely a fan of the camaro you'll buy it even if GM completely goes under.

[Chemical]

I can't order mine until I graduate which is exactly 1 year from now. If GM is backrupt or not at that time I will still order one. I've been waiting too long for this thing and this Camaro represents more than just a bad ass car to me.

[Camaro_Corvette]

Jeez. They believe that GM may be bankrupt by the end of the year, We are so damn close.

[speedbroker]

They are busy hammering the unions right now.. It is like they do not get if they do not give then they will get nothing in benefits..

[Hylton]

^^ Ya.....the union guy didn't want to budge from his position. Plus all he was talking about was defferral of being paid which is very different from actually cutting the liability. Like you said, he didn't get the point that there will be nothing for the union retirees if they go under. I am a bit surprised how tough some of these guys are being to the D3 group.

[MerF]

Originally Posted by Vash

No one wants crossovers... they are station wagons. .get over it..

Umm...the consumer disagrees:

Originally Posted by http://www.motorauthority.com/us-buyers-dropping-suvs-for-econo-cars.html"

Data collected by Edmunds shows that the change toward economical transport had been gradual and consistent until March, when a spike in fuel prices drove a big shift toward more small-car purchases. Crossover SUV sales climbed to 6.3% market share, a nearly 50% rise over 2007 levels.

Crossovers are smaller siblings to SUVs. My family of four hates cars but like the EPA and comfort of one. We love trucks. Our solution? Equinox (then a Trailblazer crossed our path that was way too cheap to pass up...). The point is, there's a huge market for them, just because you don't think there is doesn't make it true.

[TomServo]

Guys if GM has to file Chapter 11 that could be the end of GM. Consider this:

From The Nation: "A prepackaged Chapter 11 filing in a different era would have allowed GM to restructure, protect itself from creditors and emerge leaner and more financially sound. But as The New Republic's Jonathan Cohn recently wrote, in order to become productive while in bankruptcy protection, GM would need to be able to buy materials and parts from suppliers on credit through Debtor-in-Possession loans. The current credit climate makes it unlikely that GM would find creditors willing to lend the funds necessary to continue operations. In this case, GM would be forced into a Chapter 7 situation--total liquidation. "

Be careful what you ask for, things aren't always BLACK and WHITE

[Black5thgen]

The only way I'm cancelling my order is if GM gets bought out by a foriegn company.

[Hylton]

^^ I disagree Tom. Point being that the suppliers would all need to be signed on to a pre-arranged plan. In other words, the entire process of how suppliers get paid, how consumers get warranties and how dealers get financing would be known and agreed upon by all parties before any Chapter 11.

[camarolt76]

I would not cancel my order. I am sure that if Congress gets GM to buy into a pre-arranged Chapter 11 bankruptcy as mentioned in the link above they would work out a plan to guarantee waranties on all new cars. Otherwise they can not be assured anyone will want to buy cars from GM.

[Hylton]

Man those guys in the hearing have good bladders!

[TomServo]

Originally Posted by Hylton

^^ I disagree Tom. Point being that the suppliers would all need to be signed on to a pre-arranged plan. In other words, the entire process of how suppliers get paid, how consumers get warranties and how dealers get financing would be known and agreed upon by all parties before any Chapter 11.

How long do you think that will take???