Not looking to be pessimistic, BUT... GM Bankruptcy thoughts? - Page 5 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

NVMY68SS · 05-12-2009, 12:23 PM

Quote:

Originally Posted by domano 68

I don't think all operations will cease while in court. Everything will continue as normal. Ie that is one of the purposes for bankruptcy court.

Hmmm............I don't know about that. Wasn't that one of the Chrysler stipulations that they would shut down all of the plants for a period of 60 days while the reorganization took place.

We're getting screwed now with the wait so it doesn't really matter, they know that they'll lose some buyers but gain others.

We've just gotta sit back and see how it plays out I guess.

Indpowr · 05-12-2009, 12:27 PM

I wonder when we will get a more firm date of when this might happen. My car is in production right now and hope to get it before all of this mess. I read somewhere that May 15th is the CAW and GMs deadline to come to an agreement.

Bowtie Girl · 05-12-2009, 12:32 PM

The date is June 1st. If they file banklruptcy they will have to shut down for reorganization. I would bet that will be a stipulation of their filing Chapter 11. They will have no choice. It is a bummer!

domano 68 · 05-12-2009, 12:36 PM

Quote:

Originally Posted by Bowtie Girl

The date is June 1st. If they file banklruptcy they will have to shut down for reorganization. I would bet that will be a stipulation of their filing Chapter 11. They will have no choice. It is a bummer!

Not true. They will shut down while in bankruptcy if they are asked to do so or if they decide to do so. There is nothing mandatory about being in bankrupcty court that states you have to stop all operations.

Quote:

Originally Posted by NVMY68SS

Hmmm............I don't know about that. Wasn't that one of the Chrysler stipulations that they would shut down all of the plants for a period of 60 days while the reorganization took place.

I think a better understanding of this process is needed on this forum.

Bowtie Girl · 05-12-2009, 12:41 PM

They will have to shut down if they are required to or there is a stipulation in their filing of chapter 11. This is a very complicated process and no one will know for sure until it happens. I was only stating if they are required to they have no choice. We will all just have to wait and see what happens.

Tim Adams · 05-12-2009, 12:47 PM

They could be like the airlines and keep running, who knows. I just ordered mine today, my gut says they are going down June 1st. For how long, who knows. I think I'm in for a long wait.

hdslew43 · 05-12-2009, 01:09 PM

GM Oshawa will shut down as soon as Bankruptcy is filed, because of suppliers. All Chrysler assembly plants are still down. This could be a long wait. Ordered IOM 2 SS on 5-04-09.

bobby35ny · 05-12-2009, 01:13 PM

Quote:

Originally Posted by hdslew43

GM Oshawa will shut down as soon as Bankruptcy is filed, because of suppliers. All Chrysler assembly plants are still down. This could be a long wait. Ordered IOM 2 SS on 5-04-09.

Well, I kind of agree with you, however, GM knew this was comming. Did they double down on supplies for thier new "CORE" car?

=bobby

bob2the2nd · 05-12-2009, 01:19 PM

Hylton has already said that bankruptcy will not close oshawa (at least directly). the thing to worry about is the CAU and GM coming to a new agreement. if that happens GM will get a couple more billion from the canadian goverment (most likely to keep oshawa open). if they dont come to a new agreement then the canadian govt would force GM canada to liquidate.

hdslew43 · 05-12-2009, 01:31 PM

I hope they did stock up. Its difficult to compare the Oshawa plant to the assembly plants at Chrysler which are shut down. No assembly plant out there has a waiting list of customers, like Oshawa. Also, I do not think GM Canada will be forced to liquidate.

Metal Camaro · 05-12-2009, 02:23 PM

Quote:

Originally Posted by Sloppy Joe

Don't forget that bankrupcy is a very, very scary word to the average Joe. Many people will not buy from a car company (or any company) because of a bankrupcy filing. (If Chyrsler is an example, their sales are off 50% just since their filing). What does that mean for he GM/Camaro? IMO, A percentage of people that have orders pending of produced cars will cancel them. That means more a lot more Camaros will start showing up on dealer lots. Sales will drop across all GM lines and Dealers will be scrambling to sell excess inventory. The premiums that dealers are currently asking for the Camaro will evaporate overnight. If the Camaro factory stays open, it's likely that a majority of it's production will be shifted toward producing customer ordered vehicles. Good news for anyone with a pending order because they will probably get their car much sooner. So, if GM files bankruptcy, it will be good news for anyone that wants to buy a Camaro this summer, you will probably be able to find one at or well below MSRP on your dealers lot, or order one and take delivery much quicker.

That doesnt sound bad for people that just want theyre CAMAROs but my only problem I have with this is I didnt plan on ordering my car till mid july or super early august. After ordering it I actually was looking forward to waiting about 3 or adleast 5 the most just to have more time to save more on the down payment. I wanted it adleast later this year or early jan. I really dont want to order no later than what I planned so I wont because I want my baby.

Looks like i'll just have to trade in my Spectra I planned on driving in winters if orders will come in earlier. Either way i'll be happy as long as I get my Camaro. This whole thing with GM has made be afriad of the Camaro being killed off. I want to order not buy one from the dealer lot so if it turns into a order only then im fine with it. I want to have all the plastic in the inside..l've never owned a car so new lol.

Sleeper · 05-12-2009, 02:28 PM

Speedfreak · 05-12-2009, 02:44 PM

They are not going to shut down the production of a plant in which there is such high demand for the product right now. That would be stupid. I think its a forgon conclusion now that they will file. I dumped my GM stock last week I was holding on to........

Hylton · 05-12-2009, 03:47 PM

Quote:

Originally Posted by bob2the2nd

Hylton has already said that bankruptcy will not close oshawa (at least directly). the thing to worry about is the CAU and GM coming to a new agreement. if that happens GM will get a couple more billion from the canadian goverment (most likely to keep oshawa open). if they dont come to a new agreement then the canadian govt would force GM canada to liquidate.

There are so many variables which will affect the process going forward. None of the stakeholders have shown all their cards, the suppliers have not really indicated how strong they are despite the fact that automotive sales in Canada/US are less then half. Chrysler is not producing any cars at the moment so how much more strain can the small supplier manage? I can see them saying, COD or I'll just close up until you come out of bankruptcy.

One solution would be for the govenment to back the suppliers to ensure parts keep flowing. Yes, there has been funds made available for the "American Axles and Magnas" of the parts world but not to the smaller companies like the company up in Peterborough, Ontario that supplies the front and rear fascias for the Camaro.

05-12-2009, 12:47 PM	#62
Tim Adams Drives: 2020 Elkhart Lake Blue 1LT Z51 C8 Join Date: May 2009 Location: Minooka, IL Posts: 621	They could be like the airlines and keep running, who knows. I just ordered mine today, my gut says they are going down June 1st. For how long, who knows. I think I'm in for a long wait. __________________ Ordered-Hyper Blue 1SS, A8, NPP, 56W wheels Built 1/20/16 Delivered 2/12/16!! Sold 9/17/19 :( 2020 C8 ordered!! "The greatest sound in the world is a Rolls Royce Merlin over 100 inches" www.timadamsphotography.com

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05-12-2009, 12:27 PM	#58
Indpowr Account Suspended Drives: Corvette C6 Join Date: May 2008 Location: Florida Posts: 6,959 View My Garage	I wonder when we will get a more firm date of when this might happen. My car is in production right now and hope to get it before all of this mess. I read somewhere that May 15th is the CAW and GMs deadline to come to an agreement.

05-12-2009, 12:32 PM	#59
Bowtie Girl Drives: Black 2LT RS Auto 20" Polished Join Date: May 2009 Location: Southern Cali Posts: 138	The date is June 1st. If they file banklruptcy they will have to shut down for reorganization. I would bet that will be a stipulation of their filing Chapter 11. They will have no choice. It is a bummer!

05-12-2009, 12:41 PM	#61
Bowtie Girl Drives: Black 2LT RS Auto 20" Polished Join Date: May 2009 Location: Southern Cali Posts: 138	They will have to shut down if they are required to or there is a stipulation in their filing of chapter 11. This is a very complicated process and no one will know for sure until it happens. I was only stating if they are required to they have no choice. We will all just have to wait and see what happens.

05-12-2009, 01:09 PM	#63
hdslew43 hdslew43 Drives: 2008 Chevy Tahoe Join Date: May 2009 Location: Moulton, Alabama Posts: 58	GM Oshawa will shut down as soon as Bankruptcy is filed, because of suppliers. All Chrysler assembly plants are still down. This could be a long wait. Ordered IOM 2 SS on 5-04-09.

05-12-2009, 01:19 PM	#65
bob2the2nd Drives: CGM 2LT RS Join Date: Oct 2008 Location: newark, de Posts: 542	Hylton has already said that bankruptcy will not close oshawa (at least directly). the thing to worry about is the CAU and GM coming to a new agreement. if that happens GM will get a couple more billion from the canadian goverment (most likely to keep oshawa open). if they dont come to a new agreement then the canadian govt would force GM canada to liquidate.

05-12-2009, 01:31 PM	#66
hdslew43 hdslew43 Drives: 2008 Chevy Tahoe Join Date: May 2009 Location: Moulton, Alabama Posts: 58	I hope they did stock up. Its difficult to compare the Oshawa plant to the assembly plants at Chrysler which are shut down. No assembly plant out there has a waiting list of customers, like Oshawa. Also, I do not think GM Canada will be forced to liquidate.

05-12-2009, 02:28 PM	#68
Sleeper Drives: It has 4 wheels Join Date: Dec 2008 Location: California Posts: 85

05-12-2009, 02:44 PM	#69
Speedfreak Drives: 1999 30th Anniversary Trans Am Join Date: Oct 2008 Location: Florida Posts: 681	They are not going to shut down the production of a plant in which there is such high demand for the product right now. That would be stupid. I think its a forgon conclusion now that they will file. I dumped my GM stock last week I was holding on to........