GM sues bankrupt supplier Cadence over parts

[Supermans]

Originally Posted by dieseldave24v

Ok so great reading, however, lets not get excited over this. Maybe this is the issue with the ABL we have been hearing about. GM still has plenty of time to get this issue resolved.

Have any of our GM employed members heard anything about this?

I would have to put two and two together and assume this is precisely why the interior lighting is being canceled. However there are other interior parts which are necessary that also could delay the Camaro if another supplier is not found soon or this issue isn't resolved quickly enough.. It is time to pull out the Holy Bible and pray

[bobscogin]

Originally Posted by BamTino024

anyone think getting a petition going to have this company give GM its parts will help resolve the issue quicker?

Not a chance. The bankruptcy courts are in charge, and they will not distribute any assets Cadence may have based on anything but law.

Bob

[ckellyme3]

This really isnt good news. But I'm not looking at being able 2 buy my new baby until mid 2010 anyway but i really hope all this gets worked up. Worst case senario we have to continue to be paient like we have been for this long for a few more months.

[kinyu]

Originally Posted by GLBL WMR

The car is bordering on "dated" already with how long ago the concept first appeared and how long its been getting press. Every time I talk to somebody who has any knowledge of the car, they ask "isn't that out yet?"

My experience has been similar.

[wildpaws]

Quote:
Originally Posted by GLBL WMR
The car is bordering on "dated" already with how long ago the concept first appeared and how long its been getting press. Every time I talk to somebody who has any knowledge of the car, they ask "isn't that out yet?"

Originally Posted by kinyu

My experience has been similar.

I guess people in general (as well as many people on these forums) just don't understand that Concept release to production release in 3 years and a couple of months is actually pretty quick. And who knows what the bankruptcy court may decide, that is one court where it truly is pretty much up to the judges decision as to what will be done, they have a pretty wide latitude, especially if it can return some cash/assets to the company in bankruptcy to pay off those holding the debt and investors. When Commodore Computer went bankrupt, several computer companies approached the court about purchasing the Amiga computer assets, they did not want any other part of Commodore. The judge told them to submit bids and sold the Commodore assets to the highest bidder, don't remember who got them at that point, but Amiga later became a subsidiary of Gateway, I think it has now been spun off. The judge can do pretty much whatever he thinks will return the most cash into the bankruptcy.
Clyde

[CamaroScotty]

Here's my one and only post in this thread on this:

No reason for panic, yet.

[One Mean Chevy]

Originally Posted by CamaroScotty

Here's my one and only post in this thread on this:

No reason for panic, yet.

I Agree, NO REASON TO PANIC, YET.

GM is not out of parts yet. They still have time. I'm sure GM has already made a tentive deal with another supplier. GM just can't go all the way with another supplier until the Cadence contract is void.

[leatherneck]

You guys are something else --my god --there are some very knowledgable guys on this forum whio know far more than most of the guys who post in this forum.. i read their posts and lean on them

as far as this situation with GM/GMAC---they are not now or any where in the forseable future going bancrupt---no wayyyyyyyyyy no howwwwwwwww

the reapn bush gave them 17 billion was to help themfrom being bancrupt------the federal reserve will let them become a bank holder and have access to the 700 billion dollars of bank bailout money if they meet certain conditions --that were supposed to be met by yesterday at midnight---weve heard nothing--but whatever happens--maybe they met the conditions maybe they didnt---but even if they didnt nothing is gonna changeeeeeeeee--the federal government the federal reserve and the judge sitting on the parts case..can not!!!!!!!!!!! and will not!!!!!!!!!!!! let the american auto industry go under--it will never happen!!!!!!!!!!!!!!i If GM cant meet the condotions set forth by the federal reserve-- guess what???????????? the feds will lower the standards until trhey can----no sitting or future president --no congress -- no federal reserve an esp. no judge is gonna let the american car industry go under not now not everrrrr!!! we are in a deep recession its gonna take awhile to get out of----if the government or federal reserve allows this standard of american industry go under -- 100,000s of more people lose their jobs the country goes into a deep depression that will last for decades-----make 1930 look like childs play --again this neverrrrrrrrrrrrrr gonna haapen gm will get money they for financing and production no matter what!!!!!!!!!--the worst case senario is we get delayed a month maybe two--or maybe only a week-man you guys argue over nothing but dont really use your brain

[OUR72GTO]

Well there you have it .......the final word.! All is well, the disaster is averted and this post has straightened it all out so we all understand.

Only one thing? Never say never.

[leatherneck]

For you guys that wanna jump ship. ONE. This is not just gmac problem--crysller is in just as bad or worse shape--ford says it has enough to get by for 2009 if the auto industry goes under gues what----F ord goes too--and for all these guys looking for a beeter deal with companys with no so-called problems like toyota==hundei--etc etc--- better start brushing up on world finance news---toyota down 54% from last years sales --their other top brands down 35-40%-japan is shutting factorys like theirs no tommorow!--europe will fall the way of the american car industry if it goes under --this world is tied together financially--if the united staes car industry goes under it will have a domino affect throughout the world an as i said before --our government our president nor the federal reserve will ever let this happen!!!!!!!!!!!!!

[OUR72GTO]

I am waiting for....... TWO.

[XAnimal]

Originally Posted by leatherneck

For you guys that wanna jump ship. ONE. This is not just gmac problem--crysller is in just as bad or worse shape--ford says it has enough to get by for 2009 if the auto industry goes under gues what----F ord goes too--and for all these guys looking for a beeter deal with companys with no so-called problems like toyota==hundei--etc etc--- better start brushing up on world finance news---toyota down 54% from last years sales --their other top brands down 35-40%-japan is shutting factorys like theirs no tommorow!--europe will fall the way of the american car industry if it goes under --this world is tied together financially--if the united staes car industry goes under it will have a domino affect throughout the world an as i said before --our government our president nor the federal reserve will ever let this happen!!!!!!!!!!!!!

Um I think you missed the point

[350 HRSS]

There was actually a small article in our local paper about this in yesterday's paper....of course I received phone calls from people saying, Hey, did you see what was in the paper about the Camaro???????????????????? I bet they don't make that car, ect. I mean, I get NOTHING but negative comments from people in my area on this car. It is severly annoying.

I am not going to panic yet....I am still excited about the production, and if it is a month behind, we will all live

[Speed74SS]

As far as having Camaro allegience - thats all I would buy at this point. If they ever came out and said they weren't going to produce the Camaro, then I would have to look at other GM options. Camaro for Life!!!!