MERGED: Has anyone read this (bankruptcy) about GM?

[The_Blur]

Originally Posted by greenrail

Please read what I worte. I did not say Renault Bought AMC. And I do know that Chrysler bought AMC. But that was only after the massive "strategic alliance" between AMC and Renault.

Keep in mind, that once Renault entered into partnership with AMC, they virtually wiped out all AMC products except for Jeeps and the Eagle (Which died later in the '80's.)

Once Chrysler bought AMC, they kept a few of the remaining products (Eagle Premier/Dodge Moncao) and folded what was left into the Eagle Division. Eventually letting that die also.

In any case, AMC, a great motor company, was broken down. It's kind of sad. :(

[FenwickHockey65]

Originally Posted by StoutFiles

As long as I get my car...

Without GM there won't be a Camaro.

[Hanslollick93]

I can't see them putting out this car with the way things are going....don't get me wrong, I want my Camaro....I just don't see the logic.

[The_Blur]

Originally Posted by Hanslollick93

I can't see them putting out this car with the way things are going....don't get me wrong, I want my Camaro....I just don't see the logic.

They've invested too much in the project to abandon it. The Camaro is also too close to production to cancel. Also, initial demand is overwhelming, so it may stay for a very long time.

[Hanslollick93]

I hope your right.....got all my posters from Chevymall...just need the car!!!

[The_Blur]

Originally Posted by Hanslollick93

I hope your right.....got all my posters from Chevymall...just need the car!!!

I'll bet you a Camaro that I'm right.

[Rallyman6]

Originally Posted by The_Blur

They've invested too much in the project to abandon it. The Camaro is also too close to production to cancel. Also, initial demand is overwhelming, so it may stay for a very long time.

I agree

[undeadswamp]

The government can't, and I mean CAN't, let any of the big three fail. If just one goes under, a recent study (3 days ago) estimates a total job loss of 2.5 million jobs in the first year alone after they go down. Thats more than twice what we have lost this year with all of the economic woes. Based just on that D.C. won't let them go.

Edit: Link to the job loss story :http://voices.washingtonpost.com/eco...ith_autom.html

[Evotion]

Originally Posted by The_Blur

I'll bet you a Camaro that I'm right.

I won't take that bet...

This was all beaten to death one month ago, when the "economy" talks started.

Cheryl Pilcher stated on the Z28.com podcast "liken the Camaro to an 8 month pregnant woman", there is no way they can stop it now, doing so would definately sink GM.

Just because assembly doesn't start until Feb. 16th, doesn't mean they aren't ready for it. Essentially, the Camaro is "paid" for.

Couple that with the fact that GM supplies the Federal Government with thousands of vehicles each year, and that I am sure the government would eventually like to see a return on the bailout, it would take nothing short of a catastophy for the the Camaro not to see the showroom floor.


Just my .02 cents.

[StoutFiles]

If the Camaro isn't made, not having the car you wanted will be the least of our troubles. The fall of GM would be devastating to America.

[Design1stCode2nd]

Chrysler is already gone, Cerberus made sure of that. The US government will not fund a bailout of Chrysler when it is owned but a private equity firm with cash. Cerberus could make a go of Chrysler its just they never wanted to.

The problem here is GM needs chapter 11 legal protection, then and only then would I back government loans to help them restructure and shed brands/dealers/UAW. If we just give them 20 billion it will be wasted.

The average Joe will see GM and Chapter 11 and say “what the hell?” even though this has been years in the making. Then the politicians will say we need to save Detroit and American jobs and we will throw good money after bad.

Mark my words Chapter 11 is the only was GM can rise from the ashes of mismanagement and largess of its past. I very much want a Camaro in a couple years but I won’t buy from a bankrupt manufacturer unless they are restructuring properly and my warranty is backed by an independent authority (oh and huge incentives would help too).

[Hylton]

Originally Posted by Evotion

It's not just the big three anymore...

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TOKYO (AP) -- Toyota slashed its annual earnings forecast Thursday to less than a third of what it was the previous fiscal year, the latest stunning sign that the global slowdown and strong yen are taking a toll on Japan's mighty automakers.

Toyota Motor Corp., which has been riding high on the success of its Prius hybrid and Camry sedan, reported that its July-September quarter net profit plunged 69% to $1.4 billion.
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Poor Toyota - only made 1.4 billion in the quarter. That's 10 billion more than GM.

[GTAHVIT]

Originally Posted by PsyDoc

So, let me get this straight. Right about the same time Congress passed the $700 billion bailout bill, they also passed a $25 billion dollar bailout for the big three. Granted, the bailout for the big three received little attention. Now, the big three are coming back to the table because they are still hungry? What the hell?!

Originally Posted by LS9CamaroSS

the 25$ billion bailout hasn't been finalized just yet i don't think...besides the auto companies are getting loans not grants like wall street so it isn't as bad as it sounds...

Originally Posted by Design1stCode2nd

Yes it is. Direct from GM's press release:



To summarize "Give us gubment money or we go tits up".

Originally Posted by CamaroFan1

You know that the government is going to get a loan program in place for GM and Ford, just like the airline industries after 9/11. They are not going to allow them to go completely under due to the huge job losses that would happen, plus the loss in retiree benefits.

I just bought a couple thousand shares of GM stock @ $4.05 this morning. The news about the company is bad now, but once a loan program is announced, the stock is going to go back up, at least temporarily....

I'll use the profit for Camaro mods!

It is a loan with interest paid back to the government. It's better on the tax payers this way. Much better.

[Hylton]

Time for Lutz to get out of his helicopters/planes and get in front of the camera and pull an "Iacocca". Offer 10 year/100,000 mile warranties. That will get a few people back!