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Old 02-10-2009, 09:30 PM   #1
5th_GEN_SS
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Exclamation Bankrupt GM and disontinued 2010 Camaro

The financial troubles of the US auto industry have been known for some time... However Todays paper made the issue a bit more real.
and I am worried.

It stated that GM and Crysler may be forced into bankruptcy to assure the US gov is payed for the $17.4 billion dollars in loans they have recieved.

if federal officials do not come to an agreement to change thier position regarding payment, they have the option to force bankruptcy upon the automakers.

it says this wld be a condition of more bail out aid.
how wld aid help them if they are bankrupt?

if this were to happen what will happen to us?



maybe the GT500 isnt looking so bad...
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Old 02-10-2009, 09:32 PM   #2
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They can kiss my ASS when they force AIG, and rest to go to bankrupt then they can go after the auto makers
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Old 02-10-2009, 09:33 PM   #3
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they wont discontinue the camaro, they've spent way too much on it and its so close to production
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Old 02-10-2009, 09:34 PM   #4
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HA! Ya right, like the government expects their payback already? Show me where the conditions of the loan said "two(or so) months".
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Old 02-10-2009, 09:35 PM   #5
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Everybody just wants to make headlines, and the more doom and gloom, the more they sell. Pricks.
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Old 02-10-2009, 09:35 PM   #6
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that was my thought but it cost money to continue the production

money that they wouldnt have...
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Old 02-10-2009, 09:35 PM   #7
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if they force them to go bankrupt, then give nissan bailout money words would not be able to describe how pissed i would be. the thought of making gm and chrysler wouldn't be so bad if the government wasn't wasting money on its own parties, and wall street/ the banks
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Old 02-10-2009, 09:39 PM   #8
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Isn't that the truth! We might have to burn the white house down... again.
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Old 02-10-2009, 09:42 PM   #9
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Im ready as a freemason I'm all about revolution
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Old 02-10-2009, 09:42 PM   #10
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Why would they stop production on 1 of its 2 most highly anticipated models, The camaro may not be able to carry GM indefinetely but its sales will defenetly help it for at least the next 3 years till the Volt comes out.
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Old 02-10-2009, 09:45 PM   #11
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I doubt that even the idiots that run our country would force our auto manufacturers out of business and thereby (1) put that many people out of work and (2) put the entire worldwide business of manufacturing vehicles on a silver platter and give it to Japan.

After all....somebody in this world needs to pay to support the UN, and give all the free food to people living in the desert in Sudan etc. while their own people live on the streets. You know darn well Japan would'nt do that!
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Old 02-10-2009, 09:45 PM   #12
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They can't get repaid from liquidation, GM isnt worth that much liquidated, they want there money back. GM will survive one way or another and we will get our cars, or no one gets there loans repaid.
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Old 02-10-2009, 09:49 PM   #13
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Calm down folks. They are talking about Chapter 11. This would mean that they restructure by force and have to pay the Gov. back first. Before anyone else gets money. They would never allow Chapter 7.

Stop fearmongering.

You'll get your Camaro. Be patient.

Just won't be good for their rating.
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Old 02-10-2009, 09:52 PM   #14
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Quote:
Originally Posted by 5th_GEN_SS View Post
The financial troubles of the US auto industry have been known for some time... However Todays paper made the issue a bit more real.
and I am worried.

It stated that GM and Crysler may be forced into bankruptcy to assure the US gov is payed for the $17.4 billion dollars in loans they have recieved.

if federal officials do not come to an agreement to change thier position regarding payment, they have the option to force bankruptcy upon the automakers.

it says this wld be a condition of more bail out aid.
how wld aid help them if they are bankrupt?

if this were to happen what will happen to us?



maybe the GT500 isnt looking so bad...
state your sources dude
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Old 02-10-2009, 09:52 PM   #15
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Quote:
Originally Posted by 5th_GEN_SS View Post
The financial troubles of the US auto industry have been known for some time... However Todays paper made the issue a bit more real.
and I am worried.

It stated that GM and Crysler may be forced into bankruptcy to assure the US gov is payed for the $17.4 billion dollars in loans they have recieved.

if federal officials do not come to an agreement to change thier position regarding payment, they have the option to force bankruptcy upon the automakers.

it says this wld be a condition of more bail out aid.
how wld aid help them if they are bankrupt?

if this were to happen what will happen to us?



maybe the GT500 isnt looking so bad...


we've been over this, discontinuing the camaro at this point would cost MORE than going ahead with production
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Old 02-10-2009, 09:53 PM   #16
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HA! Ya right, like the government expects their payback already? Show me where the conditions of the loan said "two(or so) months".
Quote from the AP in today's paper..."GM and Chrysler must present their plans to the government by Feb.17, but they do not have to have them completed until March 31, when the government can demand repayment of the loans if it decides the companies can't become viable".

GM Vice Chairman Bob Lutz said (not a direct quote) that GM will have to become a smaller company in the U.S. and find the right-sizing that's going to permit a profitable existence in a much smaller market.

We do know by now that GM has shut down some truck and SUV plants, but I don't think ANY of this will affect the outcome of the proverbial "Shining Star"...The Camaro. Cross your fingers that I'm correct in my assumption.
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Old 02-10-2009, 09:53 PM   #17
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This calls for a smiley!
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Old 02-10-2009, 09:54 PM   #18
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maybe the GT500 isnt looking so bad...
Oh Gawd, why, why would you say something like that
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Old 02-10-2009, 09:54 PM   #19
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The good bankruptcy . . . C11 is ok that is a working restructuring and keeps a company in business making product at a profit to pay back dept while it restructures

The bad bankruptcy. . . C7 is liquidation of the company by selling off all valued assets and elimination jobs. It costs about 1.5-2 million dollars to shut down a plant from start to exit.

Comparatively

Where the HELL is chicken little when you need him.
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Old 02-10-2009, 09:55 PM   #20
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Quote:
Originally Posted by ZYAL8R View Post
Quote from the AP in today's paper..."GM and Chrysler must present their plans to the government by Feb.17, but they do not have to have them completed until March 31, when the government can demand repayment of the loans if it decides the companies can't become viable".
...
Oh yea, i seen that part. I thought something along the lines of just paying the money back...
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Old 02-10-2009, 09:57 PM   #21
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Everybody just wants to make headlines, and the more doom and gloom, the more they sell. Pricks.
Exactly, and unfortunately these assholes who print the doom and gloom sell copies...and keep the average american citizen from spending his money and circulating the economy.......great
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Old 02-10-2009, 10:01 PM   #22
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Think about it. They're already making a profit from the Camaro. How many have been pre-ordered?
We won't have to worry about the Camaro untill October to see if it sells enough to make a profit from the other 88,000 or so that still need to be sold.
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Old 02-10-2009, 10:02 PM   #23
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Maybe GM will go through bankruptcy. EVen if they do go through bankruptcy this does not mean closing your doors and not selling cars though, especially in this case. Really bankruptcy could help GM out except for the all of the chicken littles in the media that would yell about this being the end of GM and scaring off customers due to warranty concerns.
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Old 02-10-2009, 10:03 PM   #24
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Yeah why would they waste 2+ years of design and engineering to just cut it. Do you know how much money they have to make back on this car. I am not worried about my Camaro and i have not even ordered one (broke collage kid).
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Old 02-10-2009, 10:05 PM   #25
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Originally Posted by ZYAL8R View Post
Quote from the AP in today's paper..."GM and Chrysler must present their plans to the government by Feb.17, but they do not have to have them completed until March 31, when the government can demand repayment of the loans if it decides the companies can't become viable"
hmmmm. I wonder if the Feb. 16 launch of the camaro was going to be bad timing, with GM having to go to congress and present prof of how viable the company is now becoming. I say this was one of the biggest reasons for the delay to march 16 not the so much the ABL or other " issues" they have told us.
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