Pre Packaged Bankruptcy

[fastball]

Bankruptcy is not going to affect GM's capacity to desing, engineer, and physically put the cars together.....

It will affect their ability to get anything from their suppliers which would affect their ability to physically put the cars together

[dbotsfordtat]

Bankruptcy won't cause me to cancel but a long delay might. I come and visit this site multible times each day, I dream about driving it for the first time, I even replaced my cool flaming skull screen saver with a Black Camaro pic. I am barely holding on now, I don't know if I could deal with a long delay.

[rayhawk]

The problem with a pre-packaged bankruptcy, in my opinion, is that it will take a minimum of a year to work out, and in the meantime so many buyers will choose other brands because they are not sure what will happen. 12 months of even lower sales will plunge GM into an unsustainable cash position. People hear all the talk and get nervous when it comes to such a large investment. Look at how GM and Chrysler's numbers have sunk lower than the others, all the bad publicity is starting to have an effect on buyers.

Keep everyone guessing for too long and there won't be a GM or a Chrysler to save. I for one believe Chrysler is worth saving also, as this country needs all the money it can to stay here.

[camarolt76]

Originally Posted by Rodrunner

Won't cancel.....if they build it, I will buy it!

Looks now like no forced Chapter 11, but instead that would be a contingency plan in March if things don't get turned around.

And, the UAW is coming forward with great sincerity in an attempt to reach equality across the ENTIRE auto industry in America. This could be a turning point.


2SS/RS Black/Black w-Cyber Gray stripes/Auto(under reconsideration) - ordered 10/18/08 - Polished Aluminums added 12/1/08

I certainly hope this is a turning point for the Big 3.:flag2:

[Hylton]

Nevermind after bankruptcy, how many people are already shoping elsewhere? Why would you buy GM now when it only has another months worth of cash before it goes under? As it stands now, the writing is on the wall. Let,s assume GM gets the money and does not go chapter 11, they still cannot afford to repay the current debt. They will just come back again and again if nothing is done about all the curent liabilities.

[LarkVille]

As long as I can purchase a 2011 Camaro late next year we're all good. Or heaven forbid, a used 2010.

In all seriousness we are watching American history in the making. Ford/GM going down is like the Titanic sinking, nobody thought these companies would ever die. I watched a large portion of the hearing this morning. The conspiracy theorist in me wants to say that the left wing is trying to punish American automakers because oil is evil and pollution is evil, and their attempts at building a car that runs on orphan dreams in the given time frame have failed. But I know it's more intricate than that ;\

[camarolt76]

Originally Posted by Hylton

Nevermind after bankruptcy, how many people are already shoping elsewhere? Why would you buy GM now when it only has another months worth of cash before it goes under? As it stands now, the writing is on the wall. Let,s assume GM gets the money and does not go chapter 11, they still cannot afford to repay the current debt. They will just come back again and again if nothing is done about all the curent liabilities.

I think that if Congress does approve money for the big 3 they will have a comitte in place to make sure that plenty is done about the current liability levels.:flag2::flag2::flag2:

[StoutFiles]

Or heaven forbid, a used 2010.

Good luck with that; if the Camaro is only made for one year they will be collector items...the SS model anyways.

[Hylton]

The congressman this morning are a lot more harder on the Big 3 reps this morning than yesterdays speakers.

[camarolt76]

Originally Posted by Hylton

The congressman this morning are a lot more harder on the Big 3 reps this morning than yesterdays speakers.

I just went to cnn.com and watched a few minutes of the hearings. The congressmen certainly are hard on them from what I watched. One congressman wanted to know what is the least amount of money which would be required to keep GM a float for the 90 days that congress would need to come to a decision. At least it is good that he wanted to know the answer to that question.:flag2::flag2::flag2:

[Hylton]

Originally Posted by camarolt76

I just went to cnn.com and watched a few minutes of the hearings. The congressmen certainly are hard on them from what I watched. One congressman wanted to know what is the least amount of money which would be required to keep GM a float for the 90 days that congress would need to come to a decision. At least it is good that he wanted to know the answer to that question.:flag2::flag2::flag2:

I just wish these congressman gave the banks the same business as they are giving the D3. Imagine how much bs would have been uncovered.

[camarolt76]

Originally Posted by Hylton

I just wish these congressman gave the banks the same business as they are giving the D3. Imagine how much bs would have been uncovered.

That is true. And I have to wonder if the banks bailout is not the single largest contribitor to the bad position the big 3 are in right now. I think the reason the big 3 are seeking a low interest loan from the government is due to the fact that they now do not even have the option to get a loan for the needed money from the banks.:flag2::flag2:

[SilverTurtle]

Originally Posted by camarolt76

That is true. And I have to wonder if the banks bailout is not the single largest contribitor to the bad position the big 3 are in right now. I think the reason the big 3 are seeking a low interest loan from the government is due to the fact that they now do not even have the option to get a loan for the needed money from the banks.:flag2::flag2:

Dodd and Conkers pretty much said that straight out yesterday... admitted that they were grilling the Big3 because of the heat they took over the banks... which, imo, is just stupid... and its why we should demand resignations from most of the elected Congress.

[MerF]

Ugh.