Bad news tomorrow?... - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

*radz28* · 11-06-2008, 09:03 AM

http://www.autoblog.com/2008/11/06/g...ges-on-friday/

"Due to deteriorating market conditions and a dire cash crunch, General Motors CEO Rick Wagoner will be announcing "important changes" during his company's 3rd quarter earnings report on Friday at 11AM EST The Detroit News obtained an executive level email that foretells the bad news ahead but doesn't go into specifics regarding what actions the General will take. Wagoner did, however, send out an earlier email that stated cuts were necessary. Some cutbacks on the table include both voluntary and involuntary salary layoffs and the loss of certain benefits like 401k matching. GM spokesman Tom Wilkinson verified that change was coming by saying that the struggling automaker would need to make "additional adjustments."

The Friday announcement will likely include a hefty financial loss, too, as evidenced by an earlier announced loss of $2.5 billion by GMAC financial. Seems the General will use the public stage this Friday to announce additional production cuts or plant closings or delays to future products or... all of the above and more. We'll be listening and will let you know."

EEEKKKK!!! I know that it's already been stated Camaro was safe, but that was then, and this is now. Also, I wonder what other programs are going to be changed

It's a very scary time

*KILLER74Z28* · 11-06-2008, 09:17 AM

*GTAHVIT* · 11-06-2008, 09:22 AM

....dammit :(

:flag1:

Legend · 11-06-2008, 09:24 AM

Where's our inside voices?

I would think with the eager sales up to this point, not to mention the number of SS models ordered, would mean the Camaro is a go still!

Hoping...praying...I want my Camaro!!

*The_Blur* · 11-06-2008, 09:46 AM

This is big. I saw something about it, but I didn't want to post it. A lot is going to change.

Speedy1975 · 11-06-2008, 09:53 AM

Concerning.

lalometalik · 11-06-2008, 10:02 AM

do'h!

Legend · 11-06-2008, 10:04 AM

Quote:

Originally Posted by The_Blur

This is big. I saw something about it, but I didn't want to post it. A lot is going to change.

syr74 · 11-06-2008, 10:20 AM

Quote:

Originally Posted by I am Legend

Where's our inside voices?

I would think with the eager sales up to this point, not to mention the number of SS models ordered, would mean the Camaro is a go still!

Hoping...praying...I want my Camaro!!

I'm no authority on this issue, but the rumor mill is abuzz that the break even point for Camaro production is about 80k units per year. I cannot vouch for the validity of that info (if somebody can tell us one way or the other that would be most welcome) but if that is indeed the case that is a pretty heft break even point. Even worse, thus far Zeta has taken a beating every time GM makes cuts.

Here is hoping you guys get to keep the Camaro around for the long term.

kevin2323 · 11-06-2008, 11:03 AM

dammit i shouldnt have bought gm stock at 6.50 a pop...

Congoman775 · 11-06-2008, 11:10 AM

Quote:

Originally Posted by kevin2323

dammit i shouldnt have bought gm stock at 6.50 a pop...

worst thing you can do is sell it now

Georgie · 11-06-2008, 11:36 AM

hopefully they are just overstating so its not that bad when they announce it

headpunter · 11-06-2008, 11:37 AM

Quote:

Originally Posted by Georgie

hopefully they are just overstating so its not that bad when they announce it

lol,sounds like hey lets drop our stock price today so we can get it to raise tomorrow when we arent as bad off as everyone thinks we are.

headpunter · 11-06-2008, 12:29 PM

Quote:

Originally Posted by kevin2323

dammit i shouldnt have bought gm stock at 6.50 a pop...

wow you got the to the party really late....

11-06-2008, 09:03 AM	#1
radz28 Petro-sexual Drives: Ultra-Grin Join Date: Oct 2006 Location: Crazy Coast Posts: 15,198 View My Garage	Bad news tomorrow?... http://www.autoblog.com/2008/11/06/g...ges-on-friday/ "Due to deteriorating market conditions and a dire cash crunch, General Motors CEO Rick Wagoner will be announcing "important changes" during his company's 3rd quarter earnings report on Friday at 11AM EST The Detroit News obtained an executive level email that foretells the bad news ahead but doesn't go into specifics regarding what actions the General will take. Wagoner did, however, send out an earlier email that stated cuts were necessary. Some cutbacks on the table include both voluntary and involuntary salary layoffs and the loss of certain benefits like 401k matching. GM spokesman Tom Wilkinson verified that change was coming by saying that the struggling automaker would need to make "additional adjustments." The Friday announcement will likely include a hefty financial loss, too, as evidenced by an earlier announced loss of $2.5 billion by GMAC financial. Seems the General will use the public stage this Friday to announce additional production cuts or plant closings or delays to future products or... all of the above and more. We'll be listening and will let you know." EEEKKKK!!! I know that it's already been stated Camaro was safe, but that was then, and this is now. Also, I wonder what other programs are going to be changed It's a very scary time __________________ '20 ZL1 Black "Fury" A10, PDR, Exposed CF Extractor Magnuson Magnum DI TVS2650R // RFBG // Soler 103 // TooHighPSI Port Injection // THPSI Billet Lid // FF // Katech Drop-In // PLM Heat Exchanger // ZLE Cradle bushings // BMR Chassis-Suspension Stuff // aFe Bars // Diode Dynamics LEDs // ACS Composites Guards // CF Dash // Aeroforce // tint // other stuffs

11-06-2008, 09:17 AM	#2
KILLER74Z28 MOD SQUAD Drives: 2G1FT1EW9A9100666 Join Date: Aug 2006 Location: West Michigan Posts: 5,782 View My Garage	__________________ Who cares about the Blue Oval crowd and their little Ponys? We're getting our Camaro back-and it'll be Supercharged!-MDAII Team LS3

11-06-2008, 09:22 AM	#3
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,444 View My Garage	....dammit :( :flag1: __________________ 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."

11-06-2008, 09:46 AM	#5
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,769	This is big. I saw something about it, but I didn't want to post it. A lot is going to change. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

11-06-2008, 09:53 AM	#6
Speedy1975 FASTER! Drives: Challenger Hellcat, 2SS Camaro Join Date: Apr 2008 Location: Middle Tennessee Posts: 2,245	Concerning. __________________ -Speedy 2016 Go Mango Challenger Hellcat (PB E.T. in 1/4 Mile 9.83 @ 140MPH)

11-06-2008, 09:24 AM	#4
Legend Hello! Drives: 2008 JSB Z06! Join Date: Oct 2008 Location: Texas Posts: 2,624 View My Garage	Where's our inside voices? I would think with the eager sales up to this point, not to mention the number of SS models ordered, would mean the Camaro is a go still! Hoping...praying...I want my Camaro!!

11-06-2008, 10:02 AM	#7
lalometalik killer bAnana Drives: 1985 z28 Join Date: Sep 2008 Location: Carson, CA Posts: 694	do'h! __________________ "Shut your noise tube, Taco Human!"

11-06-2008, 11:03 AM	#10
kevin2323 Drives: challenger Join Date: Jul 2008 Location: miami Posts: 2,338	dammit i shouldnt have bought gm stock at 6.50 a pop...

11-06-2008, 11:36 AM	#12
Georgie Drives: Camaro... soon Join Date: Aug 2008 Location: Chicago Posts: 1,217	hopefully they are just overstating so its not that bad when they announce it

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