ABC NEWS: "Factories to remain open during the bankruptcy" - Page 4

Cazca · 06-01-2009, 10:10 AM

Quote:

Originally Posted by TAG UR IT

I agree with you 100%

Let's just pray that this crap works itself out, GM comes back around when the economy does, pays back the gov't and BAM! Tells them to KISS THEIR ASS!

GM has to turn a profit to pay the gov't back. If the gov't is running GM, it will not turn a profit.

Quote:

Originally Posted by Cazca

First post. Long time reader at Camaro5.com
---
GM will not be the company you all remember... the Obama administration will own 70% of this company. Look at any profitable company that the government owns... you can't. The ones they own don't make a profit. I'm looking to own a pony car at the end of 2010. Right now Ford's looking really nice...

Quote:

Tax payers will own 70%, unfortunately Obama will speak for us. Go get you a Ford, Camaro's looking pretty good to me right now, if they ever put mine on a train.

BTW, welcome to Camaro5 Cazca

70% We will see the Z again

I only say Ford because the politics and how the company is ran actually matters to me when I buy a car. Thanks for the welcome

Quote:

Originally Posted by mikenmar

Dude... If the Obama administration hadn't stepped in, GM would already have gone "completely bankrupt" (meaning it would have gone into liquidation already).

The only reason Camaros are still being produced right now (and will continue to be produced) is that the govt gave GM the money it needed to pay suppliers. Otherwise, no parts, and no Camaros.

Something to think about, for those of you taking delivery lately...

You mean that GM would have failed? Like a company that makes shity decisions in a capitalistic economy...

A company that needs the tax payers dollars to just stay a float should fail, and should file complete bankruptcy. Tis the way of a capitalistic economy! You don't think there wasn't other car companies in America that Ford, GM, and Chrysler beat out a long time ago? Those companies obviously didn't make the right decisions and therefore FAILED. I'm sure people lost their jobs, but that's the way the economy is supposed to work. Now the tax payers own 60-70% of the company. I'm paying for GM to try and make a profit! If I'm paying GM, then I want my damn Camaro for free.

Quote:

Originally Posted by Supermans

Government Motors.. No longer General in my opinion..

http://finance.yahoo.com/news/GM-ban...356.html?.v=34

Wishful thinking..It would have to be a Republican in office who would orchestrate such a move..

Excellent post. I love the Old GM, however this new Government GM does not look promising to me. All I can do is sit back and elect Conservative Republican's into office that do not believe in a large, all powerful, industry owning/buying Government. The Bush administration did help out GM giving them loans which GM was supposed to pay back later on once they made a profit. I wasn't against that.. Now those loans have been erased..poof...in thin air.. Am I not supposed to get mad at that??

Gov't Motors it is now. I can't wait till we elect someone who lets the economy shed all these bad companies.

While GM may make excellent cars, their business decisions are obviously sub par.

ItalianIrishDude · 06-01-2009, 10:41 AM

Thank God because if they shut down the Oshawa plant for a couple of months I would have had to go to the hospital.

jsharp · 06-01-2009, 11:02 AM

will this potentially lead us to 0% financing possibilities like other manufactures are doing?

Justcallme61 · 06-01-2009, 11:08 AM

What I want to know is what will happen to shareholders? What if I were to buy stocks now? Would it be a good idea to buy stocks now?

TheSSpimp · 06-01-2009, 11:13 AM

Quote:

Originally Posted by Camaroyoung
Bush and Obama both thought GM was to big to fail and spent billions of taxpayer dollars doing it. Yes we want our camaros but having the government own 70% of a private company means they will call the shots. Obama doesn't strike me as the V8 big horsepower kind of guy. The V8 camaro has been saved for now but don't count on the government to keep the muscle car dream alive. If they had their way, we would all be driving civics tomorrow! (Except for them of course)

We need to be thanking the Obama administration for saving GM and it doesn't matter what kind of car Obama likes because GM will pay the government back once they start making a boat load of money off the Camaro and Electric cars. This bankruptcy will help GM cut cost so they can stay around for many more generations.

Sleeper · 06-01-2009, 11:18 AM

Blame all the Mustangs on The Road

Hello Ford haters

Seawolf · 06-01-2009, 11:31 AM

Quote:

Originally Posted by Justcallme61

What I want to know is what will happen to shareholders? What if I were to buy stocks now? Would it be a good idea to buy stocks now?

If I'm not mistaken, trades of GM's stock were stopped/frozen this morning. Unfortunately I can't find the article I read this on; so I can't post a link. It was on Comcast.net's home page for those of you who have Comcast as an internet provider. I'm not sure how long that is supposed to last; so it looks like you couldn't buy any even if you wanted to. Although, the freeze may just apply to selling of stock and not buying.

UCF w00t · 06-01-2009, 11:33 AM

Quote:

Originally Posted by Seawolf

If I'm not mistaken, trades of GM's stock were stopped/frozen this morning. Unfortunately I can't find the article I read this on; so I can't post a link. It was on Comcast.net's home page for those of you who have Comcast as an internet provider. I'm not sure how long that is supposed to last; so it looks like you couldn't buy any even if you wanted to. Although, the freeze may just apply to selling of stock and not buying.

Someone has to sell in order for another to buy (unless the company issues new stock which isn't gonna happen).

Pretty sure if you own GM stock you will continue to own stock in the old, practically worthless GM. So basically you lost your money.

Justcallme61 · 06-01-2009, 11:41 AM

Well it looks like people are constantly buying and selling according to etrade, because the price keeps fluctuating a little.

Camaroyoung · 06-01-2009, 11:43 AM

Quote:

Originally Posted by TheSSpimp

We need to be thanking the Obama administration for saving GM and it doesn't matter what kind of car Obama likes because GM will pay the government back once they start making a boat load of money off the Camaro and Electric cars. This bankruptcy will help GM cut cost so they can stay around for many more generations.

A boat load of money? Gm will not be saved by the camaro alone. As for electric cars, even if you want one that doesn't mean you'll be able to afford it. (not everyone want an electric car) Just because their filing bankruptcy doesn't guarranty succcess in the future. They have along way to go before they can dig out of this hole. I hope they do but I'm not kidding myself into thinking everything is gravy from here on out. Not ready to thank anyone yet.

*GTAHVIT* · 06-01-2009, 12:00 PM

OK guys, The bottom line is None of us know what's going to happen.

GM has to know include the loan payback as part of the cost of doing business. Just like they do with any other loan. The Gov. has said over and over again that they don't want to own car companies. So as long as GM pays back the loan they will be fine and out from under that influence

Also the unsustainable components of GM will be litigated in bankruptcy court freeing GM of that liability. And GM has already downsized and reduced the product line. So lets ride this out. Not that we have a choice. Give it some time.

And thanks for keeping Party/partisan politics out of this conversation. Yes, President Obama is at the forefront but lets not turn this into a Rep vs Dem debate.

Thanks very much.

mutant chicken · 06-01-2009, 12:11 PM

I just listened to Obama make his anouncement on tv and while he was trying to calm everyone about the bankrupcy the thing that he kept talking about was that GM was going to be making clean, fuel efficient vehicles...

MuscleCarz · 06-01-2009, 12:18 PM

Plant closings:

Assembly
Orion, Mich. Standby Capacity - September 2009
Pontiac, Mich. Close - October 2009
Spring Hill, Tenn. Standby Capacity - November 2009
Wilmington, Del. Close - July 2009

Stamping
Grand Rapids, Mich. Close - June 2009 (previously announced)
Indianapolis, Ind. Close - December 2011
Mansfield, Ohio Close - June 2010
Pontiac, Mich. Standby Capacity - December 2010

Powertrain
Livonia Engine, Mich. Close - June 2010
Flint North Components, Mich. Close - December 2010
Willow Run Site, Mich. Close - December 2010
Parma Components, Ohio Close - December 2010
Fredericksburg Components, Va. Close - December 2010
Massena Castings, N.Y. Closed - May 1, 2009 (previously announced)

Warehousing & Parts Distribution Centers
Boston, Mass. Close – December 31, 2009
Jacksonville, Fla. Close – December 31, 2009
Columbus, Ohio Close – December 31, 2009

Camaroyoung · 06-01-2009, 12:21 PM

Quote:

Originally Posted by mutant chicken

I just listened to Obama make his anouncement on tv and while he was trying to calm everyone about the bankrupcy the thing that he kept talking about was that GM was going to be making clean, fuel efficient vehicles...

No worry.................

06-01-2009, 10:41 AM	#44
ItalianIrishDude Drives: 2010 Camaro 2SS Join Date: Apr 2009 Location: Chicago, IL Posts: 61	Thank God because if they shut down the Oshawa plant for a couple of months I would have had to go to the hospital. __________________ 1100, Preliminary order accepted, April 16, 2009 2000, Order accepted by GM, April 20, 2009 3000, Order accepted by production control, April 23, 2009 3300, Order scheduled for production, May 14, 2009 3400, Order broadcast, May 22, 2009 3800, Order produced, May 30, 2009 VIN# 2G1FT1EW0A9113726 4000, Available to ship, May 30, 2009 4200, Shipped, June 3, 2009 4300, Intermediate Delivery, June 3, 2009 4800, Rail Ramp Unload, June 3, 2009 5000, Delivered to the dealer, June 9, 2009 6000, Delivered to the customer, June 9, 2009

06-01-2009, 12:00 PM	#53
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,441 View My Garage	OK guys, The bottom line is None of us know what's going to happen. GM has to know include the loan payback as part of the cost of doing business. Just like they do with any other loan. The Gov. has said over and over again that they don't want to own car companies. So as long as GM pays back the loan they will be fine and out from under that influence Also the unsustainable components of GM will be litigated in bankruptcy court freeing GM of that liability. And GM has already downsized and reduced the product line. So lets ride this out. Not that we have a choice. Give it some time. And thanks for keeping Party/partisan politics out of this conversation. Yes, President Obama is at the forefront but lets not turn this into a Rep vs Dem debate. Thanks very much. __________________ Click image to see build thread. PQ - "the love of cars. It's a boys first step toward manhood and a mans last hold on boyhood." Fbodfather - "We do not want to use the Z28 moniker on a car that does not deserve this hallowed name." The_Blur - "Let's not confuse competitors with equals."

06-01-2009, 12:11 PM	#54
mutant chicken Mutant Member Drives: '10 SS/RS, '10 Mini , 07 Harley Join Date: Jan 2009 Location: Nor-Cal Posts: 507 View My Garage	I just listened to Obama make his anouncement on tv and while he was trying to calm everyone about the bankrupcy the thing that he kept talking about was that GM was going to be making clean, fuel efficient vehicles... __________________ Ordered Oct. 13th, Del. Jun. 29th! CGM, 2SS/RS

06-01-2009, 11:02 AM	#45
jsharp NOW CAMMED & SUPERCHARGED Drives: 2010 Camaro 2SS/RS Black w/ IOM Join Date: Oct 2008 Location: Ar Posts: 2,336	will this potentially lead us to 0% financing possibilities like other manufactures are doing?

06-01-2009, 11:08 AM	#46
Justcallme61 Drives: 2000 honda accord v6 Join Date: Sep 2007 Location: South Dakota Posts: 214	What I want to know is what will happen to shareholders? What if I were to buy stocks now? Would it be a good idea to buy stocks now?

06-01-2009, 11:18 AM	#48
Sleeper Drives: It has 4 wheels Join Date: Dec 2008 Location: California Posts: 85	Blame all the Mustangs on The Road Hello Ford haters

06-01-2009, 11:41 AM	#51
Justcallme61 Drives: 2000 honda accord v6 Join Date: Sep 2007 Location: South Dakota Posts: 214	Well it looks like people are constantly buying and selling according to etrade, because the price keeps fluctuating a little.

06-01-2009, 12:18 PM	#55
MuscleCarz Drives: 5.4 3v Join Date: May 2009 Location: The Lake Posts: 194	Plant closings: Assembly Orion, Mich. Standby Capacity - September 2009 Pontiac, Mich. Close - October 2009 Spring Hill, Tenn. Standby Capacity - November 2009 Wilmington, Del. Close - July 2009 Stamping Grand Rapids, Mich. Close - June 2009 (previously announced) Indianapolis, Ind. Close - December 2011 Mansfield, Ohio Close - June 2010 Pontiac, Mich. Standby Capacity - December 2010 Powertrain Livonia Engine, Mich. Close - June 2010 Flint North Components, Mich. Close - December 2010 Willow Run Site, Mich. Close - December 2010 Parma Components, Ohio Close - December 2010 Fredericksburg Components, Va. Close - December 2010 Massena Castings, N.Y. Closed - May 1, 2009 (previously announced) Warehousing & Parts Distribution Centers Boston, Mass. Close – December 31, 2009 Jacksonville, Fla. Close – December 31, 2009 Columbus, Ohio Close – December 31, 2009