Monday GM CEO Statement on Chapt. 11 - Page 2

*radz28* · 01-12-2009, 05:17 PM

Quote:

Originally Posted by kylepo

your not too bright there are you buddy?

Comments like this are inappropriate. Do not make them.

Matster · 01-12-2009, 05:22 PM

Bail out money will be gone sometime in Q2 2009 and IMHO was never intended to keep them in business but to buy some time to get houses in order for Chapter 11.

IMO, they will come out of Chapter 11 with fewer models, fewer plants, fewer dealerships and far fewer employees. It isn't pretty but it is what needs to happen in order for there to be any viable future for the North American auto industry.

kylepo · 01-12-2009, 05:27 PM

Quote:

Originally Posted by Matster

Bail out money will be gone sometime in Q2 2009 and IMHO was never intended to keep them in business but to buy some time to get houses in order for Chapter 11.

IMO, they will come out of Chapter 11 with fewer models, fewer plants, fewer dealerships and far fewer employees. It isn't pretty but it is what needs to happen in order for there to be any viable future for the North American auto industry.

A GM chap 11 would destroy the north american auto industry.

*Mindz* · 01-12-2009, 05:34 PM

The sky is falling!!!!! The sky is falling!!!!!!

Give it a rest, willy ya?

Matster · 01-12-2009, 05:47 PM

Quote:

Originally Posted by kylepo

A GM chap 11 would destroy the north american auto industry.

Perhaps, but not necessarily. Chapter 11 doesn't mean they are gone. It will however allow them to restructure and bring their operations in line with reality. You can not continue to operate like you have 60% of the market share when the reality is more like 25-30%. Restructuring will allow them to bring things in line with this reality.

Allowing them to continue to accumulate debt at the rate they have been will destroy the North American auto industry. They will reach a point where there is no recovering, they are almost there. The U.S. government will not be able to throw enough money at this to make it go away nor will the world banks sit back forever and allow the U.S. to over extend itself much further then it has already.

It is not gonna be pretty no matter which way it goes, but Chapter 11 gives them some hope of coming out the other side.

Matster · 01-12-2009, 05:53 PM

Quote:

Originally Posted by Mindz

The sky is falling!!!!! The sky is falling!!!!!!

Give it a rest, willy ya?

Sorry Mindz didn't mean to disturb you Name: headinsand.jpg
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kylepo · 01-12-2009, 05:54 PM

Quote:

Originally Posted by Matster

Perhaps, but not necessarily. Chapter 11 doesn't mean they are gone. It will however allow them to restructure and bring their operations in line with reality. You can not continue to operate like you have 60% of the market share when the reality is more like 25-30%. Restructuring will allow them to bring things in line with this reality.

Allowing them to continue to accumulate debt at the rate they have been will destroy the North American auto industry. They will reach a point where there is no recovering, they are almost there. The U.S. government will not be able to throw enough money at this to make it go away nor will the world banks sit back forever and allow the U.S. to over extend itself much further then it has already.

It is not gonna be pretty no matter which way it goes, but Chapter 11 gives them some hope of coming out the other side.

nope. and most of your statments are wrong. but I dont want to argue with you because I hope we can get past all of this doom and gloom crap Im sick of hearing it.

Matster · 01-12-2009, 06:01 PM

Quote:

Originally Posted by kylepo

nope. and most of your statments are wrong. but I dont want to argue with you because I hope we can get past all of this doom and gloom crap Im sick of hearing it.

I truly hope you are right and that my opinions are completely wrong for all of our sakes, but at the end of the day as the saying goes "it is what it is".

Kyle2k · 01-12-2009, 07:56 PM

Do some people ONLY post about crap like this or to complain?

Silver Streak · 01-12-2009, 08:32 PM

Quote:

Originally Posted by Dragoneye

I disagree completely. Any new workers are going to get paid less than what transplant workers make -- that contract has already been agreed upon. And many current workers are close to retirement anyways. This whole worker pay thing is totally misrepresented, and I hope this reflects that the politicians are starting to understand that. The contributing, and uncompetitive costs are legacy costs (healthcare/retirement) that the foriegn companies just don't have to deal with because they haven't employed enough people here for long enough. (GM's been around for 100 years, employing MILLIONS of laborers over the years)

On top of all this, worker pay is less than ten percent of a vehicle's total price. GM has made significant strides elsewhere, this is far from a final nail.

Lighten up!

I agree with this!

SoFlaZ · 01-12-2009, 08:57 PM

I need to take a Camaro5 break and stay off the forums for just 1 day. I think I will feel much more refreshed after that if I am able to stay away from it. Like that other thread says, this place is like crack and I might have withdrawal if I try to stay off.

Kyle2k · 01-12-2009, 10:32 PM

Quote:

Originally Posted by SoFlaZ

I need to take a Camaro5 break and stay off the forums for just 1 day. I think I will feel much more refreshed after that if I am able to stay away from it. Like that other thread says, this place is like crack and I might have withdrawal if I try to stay off.

Posts like this make getting off crack seem easy.

Hylton · 01-12-2009, 10:41 PM

Quote:

Originally Posted by SoFlaZ

I need to take a Camaro5 break and stay off the forums for just 1 day. I think I will feel much more refreshed after that if I am able to stay away from it. Like that other thread says, this place is like crack and I might have withdrawal if I try to stay off.

Just ask one of the mods to send you on a temporary vacation.

War Eagle · 01-12-2009, 11:05 PM

Quote:

Originally Posted by kylepo

your not too bright there are you buddy?

Response Removed, out of character for me and was inappropriate.

01-12-2009, 05:22 PM	#16
Matster Drives: 2010 2SS/RS IOM/IOM #3625 Join Date: Jun 2008 Location: Greater Toronto Area Posts: 1,902 View My Garage	Bail out money will be gone sometime in Q2 2009 and IMHO was never intended to keep them in business but to buy some time to get houses in order for Chapter 11. IMO, they will come out of Chapter 11 with fewer models, fewer plants, fewer dealerships and far fewer employees. It isn't pretty but it is what needs to happen in order for there to be any viable future for the North American auto industry. __________________ 666 EVIL RWHP BUILT AND TUNED BY SHIFTED PERCEPTIONS INC.(SPi) 416 Forged Stroker, E-Force Supercharger, Blower Cam, Rotofab CAI, Stainless Works 2" LT Headers and 3" Exhaust, LPE ZR1 Twin Disc Clutch, DSS 1400 HP Axles, Pfadt Performance Kit Stage 3.

01-12-2009, 05:34 PM	#18
Mindz E.B.A.H. Drives: you wild... Join Date: Mar 2007 Location: In the happy padded room wearing a jacket that makes me hug myself... Posts: 18,420	The sky is falling!!!!! The sky is falling!!!!!! Give it a rest, willy ya? __________________ Blue Rush, 2010 SS [Car of the Week 3/22/2010] Traded in on...ZLZBUBB, 2013 ZL1

01-12-2009, 07:56 PM	#23
Kyle2k LVL 50 Troll Stomper Drives: 2010 Camaro Join Date: Feb 2008 Location: Indianapolis Posts: 3,463	Do some people ONLY post about crap like this or to complain? __________________

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01-12-2009, 08:57 PM	#25
SoFlaZ Drives: 2013 SS LS3 Join Date: Feb 2007 Location: WPB FL Posts: 947 View My Garage	I need to take a Camaro5 break and stay off the forums for just 1 day. I think I will feel much more refreshed after that if I am able to stay away from it. Like that other thread says, this place is like crack and I might have withdrawal if I try to stay off.