GM could be forced into bankruptcy.

[Supermans]

Originally Posted by fdjizm

yes i know but i'm wondering, how can there even be a 50th anniv. camaro?

You simply don't count the years the Camaro wasn't made...It's quite simple math really..

1967–2002 =35 years
2009-2024 =15 years

So roughly depending on wether or not you state the year as 2009 or 2010, then either in 2024 or 2025 we shall see a 50th anniversary Camaro if it is still being produced..

Now lets get back on topic..

[arozar]

Originally Posted by Dragoneye

Nope. Even if they don't make the deadline, it's been established that they don't need to 'worry'. Congress is currently reviewing their stragety submitted earlier this month, and will come up with a 'verdict' within weeks (presumably).

And the 'forced' bit in the news is misrepresented. If Congress does not believe GM can be viable -- which has nothing to do with the deadline -- they will demand repayment of the first round of loans immediatedly instead of two years from now. That's what will force them into bankruptcy...thankfully...our gov't doesn't have the direct power to just point and say "bankrupt".

Yet!!!

[Supermans]

Originally Posted by irpq11

Problem is that their suppliers are the ones who would be screwed out of the money for the debt they wiped off. And how would the suppliers stay in business?

Which is the difference in Chapter 11 and what they currently are doing.

The Government has already said they will bail out the suppliers whatever happens so that is not an issue anymore. Looking at how easily money is being handed out and being spent, I find it hard to believe this administration is going to allow GM to file for bankruptcy when they have the opportunity to strengthen their control over the decisions being made and at the same time strengthening the union contracts as well.. This is only the beginning and I do feel that my country is slipping away right in front of my very eyes. I support a bankruptcy that allows for GM to change the anti-trust laws surrounding the GM and he dealers. Also a bankruptcy would allow for a restructuring of the power the Union has over GM. All of these things are important in order for GM to become profitable again..

[Mr. Wyndham]

Originally Posted by Supermans

I support a bankruptcy that allows for GM to change the anti-trust laws surrounding the GM and he dealers. Also a bankruptcy would allow for a restructuring of the power the Union has over GM. All of these things are important in order for GM to become profitable again..

And all of these things are being taken care of outside a court....