Pre Packaged Bankruptcy - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Hylton · 12-04-2008, 08:29 AM

So apparently, Congress has gone to a few financial experts to get advice on the viability of a pre-arranged Chapter 11 bankruptcy. Ford and GM are starting to warm up to this approach. GM's biggest worry is the belief that nobody will buy from a bankrupt company.

My question is to the 300+ board members who have already put money down on a Camaro..... Would you cancel your purchase if GM goes pre-arranged chapter 11? I sure as heck wouldn't.

http://www.bloomberg.com/apps/news?p...1v8&refer=home

edog · 12-04-2008, 08:38 AM

Not me!

The company will need to tell me I cannot have it because they cannot build it. I know they will get there. The more cancelled the quicker mine will get here! For all you waivering...Cancel now to bump mine up in the line!

Look for the plate "CIYA LTR", and that will be me blowing on by ya...

Melson · 12-04-2008, 08:38 AM

Thats a good question.......I would have to think about that....

Tantalizer43 · 12-04-2008, 08:40 AM

Yeah, I need to know more about that....

*Camaro_Corvette* · 12-04-2008, 08:44 AM

That would be like dropping your friend off in the worst part of Detroit, and telling him good luck.

Montrose · 12-04-2008, 08:44 AM

as long as they still make the camaro and i can still buy it i am ok.

Montrose

playhard67 · 12-04-2008, 08:45 AM

My order would stay as is. I would not cancel. Chrysler has already proven that an automotive manufacturing company could go bankrupt and come out of it intact and stronger.

Hylton · 12-04-2008, 08:46 AM

Quote:

Originally Posted by camaro_corvette

That would be like dropping your friend off in the worst part of Detroit, and telling him good luck.

Only if you were thinking of buying a Yugo!

*Camaro_Corvette* · 12-04-2008, 08:46 AM

Quote:

Originally Posted by Tantalizer43

Yeah, I need to know more about that....

jeffny09 · 12-04-2008, 08:47 AM

Does this mean they won't get the loan? Or is this just chatter

*Moose* · 12-04-2008, 08:48 AM

1. ABSOLUTELY! If I had an existing order, I would NOT cancel. And, I will eagely anticipate buying a Camaro in the future. GM will pull through.

2. Congress. What a bunch of^&%$*'s.

They need to seek experts who can explain how some of these *&^%'s get into Congress in the first place.

3. GM. If the general public would wake up and see the products being offered today, this "stigma" that American cars aren't of a very good quality and dependability, would prove false.

I've got my fingers crossed that the Big 3 will pull through this.

Hylton · 12-04-2008, 08:48 AM

Quote:

Originally Posted by playhard67

My order would stay as is. I would not cancel. Chrysler has already proven that an automotive manufacturing company could go bankrupt and come out of it intact and stronger.

Come to think of it, you jogged my memory. When Chrysler did it, they offered everyone a 7 year, 70,000 mile warranty after they went under. That would sit good with me and my Camaro.

Hylton · 12-04-2008, 08:49 AM

Quote:

Originally Posted by jeffny09

Does this mean they won't get the loan? Or is this just chatter

I believe it may be a condition of getting the loan.

OldTimer · 12-04-2008, 08:50 AM

No canceling for me. It would most likely push all of our orders back considerably as more constraints come into play as some of their suppliers balk. My only concern would be, where does GM go to get replacement vendors and are those parts as good as the original supplier?

TomServo · 12-04-2008, 08:53 AM

I'd have to think long and hard about spending the $60K+ I'm planning on spending on the CTS-V I'm waiting for. I've already head rumors that Recaro is not shipping seats for the CTS-V because of payment concerns. Consider how the thousands of sub-vendors are going to react to a bankrupcy?

Does anyone really think all these details will be sorted out by Jan or Feb??

I cant' afford to make a $60K mistake and have told my dealer don't be surprised if I cancel my order.

Hylton · 12-04-2008, 08:53 AM

Quote:

Originally Posted by OldTimer

No canceling for me. It would most likely push all of our orders back considerably as more constraints come into play as some of their suppliers balk. My only concern would be, where does GM go to get replacement vendors and are those parts as good as the original supplier?

I think this would all depend on the pre-arrangement. All creditors will have to be in agreement of how the company will proceed. Since most suppliers are also creditors, they will be in full agreement with how things will continue. In other words, suppliers will not stop supplying because they will have a government and court backed agreeement on how and when they will be paid.

Hylton · 12-04-2008, 08:55 AM

Quote:

Originally Posted by TomServo

I'd have to think long and hard about spending the $60K+ I'm planning on spending on the CTS-V I'm waiting for.

Does anyone really think all these details will be sorted out by Jan or Feb??

I cant' afford to make a $60K mistake.

Well if GM went Chapter 11 but the government guaranteed the warranty, would you still not buy? Lemon laws will still apply but I doubt you would have to worry about that with a CTS-V.

bigralph · 12-04-2008, 08:57 AM

The hearing is about to start. Go to CNN.com to see it live.

UCF w00t · 12-04-2008, 08:58 AM

I would want some guarantee that my warranty won't be useless. Maybe they'd do something like get a 3rd party to cover the warranties?

Hylton · 12-04-2008, 09:00 AM

I'd be more concerned about the people who have cars with valid warranties now vs. people who bought after a pre-arranged Chapter 11.

Hylton · 12-04-2008, 09:01 AM

Quote:

Originally Posted by bigralph

The hearing is about to start. Go to CNN.com to see it live.

Watching now. Wagoner seems fine - I guess the Volt works!

Got one window streaming the hearing, one window watching the real time GM stock price and one window on Camaro5 of course. Oh ya, there's work as well....

TomServo · 12-04-2008, 09:10 AM

Quote:

Originally Posted by Hylton

Well if GM went Chapter 11 but the government guaranteed the warranty, would you still not buy? Lemon laws will still apply but I doubt you would have to worry about that with a CTS-V.

As I said I'd need to know the conditions and terms agreed upon and the protections I'd have as a buyer. But my initial concern is the ability of GM to continue production (without delays) due to vendor issues than warranty issues.

One thing at a time. We can't worry about warranty issues if GM can't produce the vehicles in the first place.

So as they say the "devil is in the details" and does anyone really think it will be sorted out in Jan or Feb??

Legend · 12-04-2008, 09:11 AM

I'd still purchase mine...without any hesitation!

*radz28* · 12-04-2008, 09:15 AM

I can't say I'm not biased for GM but I wouldn't cancel my order if I had one in already. I guess I just don't think a company declaring bankruptcy necessarliy reflects the quality of the product(s) I'm buying. I completely plan on ordering a car when I'm in a position to and I hope (and have confidence) that GM and the others will pull through. I don't know if I have that same confidence that the government won't try to screw us out of high-performance cars in the future but who really knows? Anyways, I wouldn't pull my order unless it couldn't be fulfilled.

Hylton · 12-04-2008, 09:17 AM

Quote:

Originally Posted by radz282003

I can't say I'm not biased for GM but I wouldn't cancel my order if I had one in already. I guess I just don't think a company declaring bankruptcy necessarliy reflects the quality of the product(s) I'm buying.

My thoughts exactly. If you believe that what you have purchased is of high quality, why would you care about a warranty?

12-04-2008, 08:29 AM	#1
Hylton Drives: fanboys and ass kissers crazy. Join Date: May 2008 Location: Ottawa, Ontario Posts: 7,183	Pre Packaged Bankruptcy So apparently, Congress has gone to a few financial experts to get advice on the viability of a pre-arranged Chapter 11 bankruptcy. Ford and GM are starting to warm up to this approach. GM's biggest worry is the belief that nobody will buy from a bankrupt company. My question is to the 300+ board members who have already put money down on a Camaro..... Would you cancel your purchase if GM goes pre-arranged chapter 11? I sure as heck wouldn't. http://www.bloomberg.com/apps/news?p...1v8&refer=home __________________ "BBOMG - More than just a car show.... It's an experience!"

12-04-2008, 08:38 AM	#2
edog Drives: 2010 2SS/RS IOM Join Date: Oct 2008 Location: F'BURG VA Posts: 3,301 View My Garage	Not me! The company will need to tell me I cannot have it because they cannot build it. I know they will get there. The more cancelled the quicker mine will get here! For all you waivering...Cancel now to bump mine up in the line! Look for the plate "CIYA LTR", and that will be me blowing on by ya... __________________ Doug Thorley Tri-Y LT/cat back, Ported TB, Halltech CAI, Pedders sways, endlinks, Drop Springs, Tuned by TandTPerformance 371HP/383TQ

12-04-2008, 08:40 AM	#4
Tantalizer43 Drives: 2010 Camaro SS/RS Join Date: Aug 2008 Location: Cincinnati OH Posts: 1,340	Yeah, I need to know more about that.... __________________

12-04-2008, 08:44 AM	#5
Camaro_Corvette 50.335252,6.947103 Drives: Anything with wheels Join Date: Mar 2008 Location: Earth Posts: 20,278 View My Garage	That would be like dropping your friend off in the worst part of Detroit, and telling him good luck. __________________

12-04-2008, 08:44 AM	#6
Montrose USN Active Drives: 08 Titan,09 Challenger SRT-8 Join Date: Nov 2008 Location: Millington, TN/Afghanistan Posts: 88	as long as they still make the camaro and i can still buy it i am ok. Montrose __________________ Silver 09 Challenger SRT8, MODs mopar CAI, MM 85mm TB, MBRP dual 3" 304ss catback, diablo tuner.

12-04-2008, 08:38 AM	#3
Melson Drives: Wild Cherry Join Date: Nov 2008 Location: Keller, Texas Posts: 430	Thats a good question.......I would have to think about that....

12-04-2008, 08:45 AM	#7
playhard67 come to poppa Drives: 67RS,09 Harley FLHX Join Date: Jun 2008 Location: Maryland Posts: 1,864	My order would stay as is. I would not cancel. Chrysler has already proven that an automotive manufacturing company could go bankrupt and come out of it intact and stronger. __________________ Cancelled the 2010 SS/RS (for now) and bought this instead (2009 Harley FLHX)

12-04-2008, 08:47 AM	#10
jeffny09 Drives: 2010 camaro Join Date: Nov 2008 Location: new york Posts: 5,703	Does this mean they won't get the loan? Or is this just chatter

12-04-2008, 08:48 AM	#11
Moose Moderator Drives: '99 Camaro SS #1392 Join Date: Jun 2006 Location: Newtown, Pa. Posts: 4,016	1. ABSOLUTELY! If I had an existing order, I would NOT cancel. And, I will eagely anticipate buying a Camaro in the future. GM will pull through. 2. Congress. What a bunch of^&%$'s. They need to seek experts who can explain how some of these &^%'s get into Congress in the first place. 3. GM. If the general public would wake up and see the products being offered today, this "stigma" that American cars aren't of a very good quality and dependability, would prove false. I've got my fingers crossed that the Big 3 will pull through this.

12-04-2008, 08:50 AM	#14
OldTimer Drives: 2012 Victory Red ZL1 MG9 Join Date: Mar 2008 Location: Texas Posts: 376	No canceling for me. It would most likely push all of our orders back considerably as more constraints come into play as some of their suppliers balk. My only concern would be, where does GM go to get replacement vendors and are those parts as good as the original supplier?

12-04-2008, 08:53 AM	#15
TomServo Drives: 2007 Z06 Join Date: Oct 2008 Location: Swansea IL Posts: 727	I'd have to think long and hard about spending the $60K+ I'm planning on spending on the CTS-V I'm waiting for. I've already head rumors that Recaro is not shipping seats for the CTS-V because of payment concerns. Consider how the thousands of sub-vendors are going to react to a bankrupcy? Does anyone really think all these details will be sorted out by Jan or Feb?? I cant' afford to make a $60K mistake and have told my dealer don't be surprised if I cancel my order.

12-04-2008, 08:57 AM	#18
bigralph Drives: 2001 v6 Camaro Join Date: Dec 2007 Location: Northborough, MA Posts: 269	The hearing is about to start. Go to CNN.com to see it live.

12-04-2008, 08:58 AM	#19
UCF w00t Geek Drives: IOM 2010 Camaro 2SS Join Date: Oct 2008 Location: Orlando Posts: 4,456	I would want some guarantee that my warranty won't be useless. Maybe they'd do something like get a 3rd party to cover the warranties?

12-04-2008, 09:00 AM	#20
Hylton Drives: fanboys and ass kissers crazy. Join Date: May 2008 Location: Ottawa, Ontario Posts: 7,183	I'd be more concerned about the people who have cars with valid warranties now vs. people who bought after a pre-arranged Chapter 11. __________________ "BBOMG - More than just a car show.... It's an experience!"

12-04-2008, 09:11 AM	#23
Legend Hello! Drives: 2008 JSB Z06! Join Date: Oct 2008 Location: Texas Posts: 2,625 View My Garage	I'd still purchase mine...without any hesitation!

12-04-2008, 09:15 AM	#24
radz28 Petro-sexual Drives: Ultra-Grin Join Date: Oct 2006 Location: Crapramento, Crapifornia Posts: 12,949 View My Garage	I can't say I'm not biased for GM but I wouldn't cancel my order if I had one in already. I guess I just don't think a company declaring bankruptcy necessarliy reflects the quality of the product(s) I'm buying. I completely plan on ordering a car when I'm in a position to and I hope (and have confidence) that GM and the others will pull through. I don't know if I have that same confidence that the government won't try to screw us out of high-performance cars in the future but who really knows? Anyways, I wouldn't pull my order unless it couldn't be fulfilled. __________________ "...What IS true: We anticipated that this would happen - we are never finished - and yes, Ford DOES deserve to win now and then. To think that GM can come out with a car to make ford throw in the towel is simply foolhardy..." - fbodfather

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