ABC NEWS: "Factories to remain open during the bankruptcy"

[GTAHVIT]

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...

And they will. GM has been doing this for years now with ethanol and hybrids. Please don't equate fuel efficient and green with no more muscle cars.

The bottom line is now, more then ever, GM needs to sell cars that are profitable. Now the Gov also needs gm to be profitable first, Green and fuel efficient second.

I'm more concerned that the Gov will jack up the price of the camaro since it is selling well... The Gov is about to get a lesson in supply and demand. they can't force consumers to buy what they want to produce. GM Tried that in the 80's and are still paying for that mistake.

So lets see how it plays out.

[CamaroFan1]

Originally Posted by gtahvit

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

This isn't exactly true. From what I've read, the government, as well as current bond holders are swapping there current secured senior equity positions (bonds and loans) for stock in the company once it emerges from bankrupcy. GM will not have to pay the government back a loan. The government will have to sell stock once GM is healthy again to recoup the money.

I agree that we should keep politics out of this thread.

I do think it is sad though that the current common shareholders will be wiped out, so that the UAW, the treasury, and the senior bondholders will get a stake in the new company. Under a normal bankrupcy, the common shareholders would usaully get a percentage of the settlement, like 10 cents on the dollar, or a stock swap 50 old shares for 1 new one.

I'm ok playing by the rules, but it seems like the rules keep changing, and it's burning the general public. I made a lot of money in the stock market for a few years, and then lost a large chunk when the SEC stepped in and made rules about short selling financial services and other changes. Its not fun to play a game when the rules are made up as you go along. It's like being in Vegas and you are playing poker and hit a full house. Then the dealer tells you that you were really playing 21, and that you went bust.

[Vash]

I think Corvette might be looking at the end road. The plant closed(temp), 600 fired. Only new product annoucement is a way overpriced ZR1, which is awsome but hardly gonna move in numbers to pay wages at Bowling Green. Scary times...

SS is for sure under the gun behind closed doors.

It sounds stupid but, I want them to drop the DI engine out of the LS and make the LS with a smaller mpg engine. (Hides behind chicken wire from tomato's and beer cans).

edit add: Well it can be DI I mean make it smaller ONLY in LS as distraction for continued SS production.

1LT would still be the same powertrain. This would make Camaro look more mpg on paper and bring the LS closer to the entry mustang.

[Rockies4]

Lets look back a few years when Lee asked for a loan for Chrysler. He not only did he save the company, but paid back the loan early.

The Government looks at everything from a conceptual viewpoint. They need to keep GM up and running, so more people don't lose their jobs and really send us into a deeper recession.

I for one has faith in the Government, America, and the Camaro.

When everything settles, the Camaro will remain standing and stronger than ever.

You have to believe and have faith in the system. The time is now.

[Supermans]

Originally Posted by Rockies4

Lets look back a few years when Lee asked for a loan for Chrysler. He not only did he save the company, but paid back the loan early.

The Government looks at everything from a conceptual viewpoint. They need to keep GM up and running, so more people don't lose their jobs and really send us into a deeper recession.

I for one has faith in the Government, America, and the Camaro.

When everything settles, the Camaro will remain standing and stronger than ever.

You have to believe and have faith in the system. The time is now.

I'm glad you has faith in the Government. I wish I could..

[tededfred]

lol...

mod: "thanks for not making this about politics"
next bunch of posts: "blablabla politics. blablabla obama"

I like it better when discussions here are about cars, or production of cars, or opinions of cars.

There are other places to give your opinion on what your government should or should not be doing. The voting booth is a good place to start. If that's not enough for you, there are many political forums all over the internets.

I'm just stoaked that GM will keep pumping out camaros, and that maybe i'll have mine in time for some pre-winter driving!! woo!!!!

[alrox]

Late 2010 and MY 2011 Camaro sales will be flat. Expect the Camaro to be gone again before 2012.

[dbotsfordtat]

I think GM is capable of* building performance and hybrid vehicles, I would also like to see them branch out into mass transit such as light rail. My biggest hope is that they build them here in America and Canada, as long as we annex Canada in the very near future.I am very optimistic about GM's future and look forward to Comrade Oba*, "cough, cough," the presidents future decisions concerning this matter.

Sincerely,

Dan

[Rockies4]

Who's talking politics. We are talking about faith in the company. This is reality.

We in America and in the world are facing some serious problems which effect GM and the Camaro. This thread talks about today's actions by GM.

I'm glad things are better for you in Toronto. Best wishes to you.

[GTAHVIT]

Originally Posted by Supermans

It is a Republican vs Democrat debate now. You cannot avoid that. The UAW, a Democrat contributor has been paid off and given large control over GM. A bankruptcy Chapter 11 back during the Bush administration when it was first proposed would have yielded a much different GM that is still owned by the private sector. The argument back then is GM would have had to close down plants and dealerships..Well isn't that what is happening now? The board of Directors of GM voted 52% in favor of the Government takeover. That means 48% were against it.. That's right down party lines if you ask me. Obama today at high noon told all of us He doesn't want to run the car industry right before he lays out his plan on how he wants to run the car industry. GM is now Government Motors and that is not going to change because there are no loans to pay back at this point. GM is not going to make a profit and never will since Government run programs are never ever set up that way. You name me one Government entity that makes a profit and I'll shut up however you can't. There is no light at the end of the tunnel until a non-progressive conservative gets into power and literally sells back GM to a privately owned company. My two cents..

Not only did you quote me but then you ignored me.

Note: To anyone else whose posts were deleted here- There is a zero tolerance policy on partisan politics. ZERO!

Originally Posted by tededfred

lol...

mod: "thanks for not making this about politics"
next bunch of posts: "blablabla politics. blablabla obama"
I like it better when discussions here are about cars, or production of cars, or opinions of cars.

There are other places to give your opinion on what your government should or should not be doing. The voting booth is a good place to start. If that's not enough for you, there are many political forums all over the internets.

I'm just stoaked that GM will keep pumping out camaros, and that maybe i'll have mine in time for some pre-winter driving!! woo!!!!

Good I'm not the only one who noticed that.

Originally Posted by alrox

Late 2010 and MY 2011 Camaro sales will be flat. Expect the Camaro to be gone again before 2012.

And you are stating your opinion? I'm sure.



This thread is about to get closed. Last warning. Whomever makes the post that results in the closure gets banned. You've all been warned.

[tededfred]

Originally Posted by dbotsfordtat

I think GM is capable of* building performance and hybrid vehicles, I would also like to see them branch out into mass transit such as light rail. My biggest hope is that they build them here in America and Canada, as long as we annex Canada in the very near future.I am very optimistic about GM's future and look forward to Comrade Oba*, "cough, cough," the presidents future decisions concerning this matter.

Sincerely,

Dan

Hey, if you want to annex us, you'll have to get past our hockey sticks and donuts FIRST.

plus, do you REALLY want to claim Celine Dion as a citizen? :P

[TooCool5]

scary times they either have to produce my camaro or give my dealer deposit back.
A judge will now decide what stays open, which suppliers will get paid and who gets cars.

[bballr4567]

Originally Posted by Supermans

More plants are closing down and more jobs lost than would have been lost last year if the UAW would have taken the concessions and GM would have filed for Chapter 11 back then.

Exactly. GM, itself, got in this mess by ITSELF. UAW and the bondholders would not accept anything GM offered them in the past few years.

If GM had filed Chap 11 last year you would of seen an amazing turnaround. It would of been BEFORE the market collapse. Before the mortgage crisis. It would of been huge news but the company would of emerged far healthier and it would own itself.

Now, that the government owns GM lets see how long it takes to truly fail. A study recently said that almost 95% of companies that go into bankruptcy protection completely fail in the next five years.

Going to be an interesting year.

[ssump29]

You guys are missing the whole point to this. the government wants to get GM profitable and very profitable so they can make money themselves. The governement is using this as a play to make a little money while being the savior. Tell me why the governement wouldn't take the opportunity to make money off this company when the time presents itself. With the debt our country is in this is just one way to make a little money faster to help get out of the debt. They will do the same thing with all Banks they have loaned money.

How else do you think they have a plan to bring the debt down without increasing taxes. They will try and make money off of all these companies they have extended money to once the economy turns around and these companies are rolling in the cash.

Buy in cheap sell off high is exactly what the government is going to do to all these companies.