Bond holders reject debt for stock swap - Page 2 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

nards444 · 05-27-2009, 08:02 AM

watch CNN right now, they are talking about it, if not look on CNN

moto-camaro · 05-27-2009, 08:46 AM

i just checked the web, couldn't find anyting that outright says whether GM does or does not have to pay back the money from the bailout/loans. if anyone finds one, post the link up, i'd like to get the story straight, seeing as we've got conflicting rumors on the go here. i heard the same as SummoneR, GM has to pay it back, as they're Auto Loans, not auto bailouts.
Will gm go bankrupt? it's a possibility. does that mean it's gone? no.
i wish the harbingers of doom would be silent and stop instilling mass panic.

DkknightX · 05-27-2009, 10:20 AM

Quote:

Originally Posted by CWIweldace

Just put a cam in it and void the warranty and get it worked on anywhere you want like many of us will. Warranty won't be an issue. Just kidding

Just the word bankruptcy sets people into panic mode, they obviously don't understand what a bankruptcy is. IT IS NOT HTE DEATH OF ANYTHING PEOPLE. It is simply restructuring the company and how it pays its bills.
I'm not so proud that i won't say i have filed bankruptcy twice in my life and I am doing just fine, better than ever actually. Before any of you spoiled kids with rich mommies and daddies start trying to criticise me because tax payers bailed me out just consider that when i do work as a contractor, i probably pay more in taxes every week than you make in a month for many years to come. I earned every penny I have ever gotten out of this government so don't go there.

As for GM, they will be back and stronger than ever at some point, no reason to jump out of the pan into the fire.

I know you are kidding, but in all seriousness, If so many people at camaro5.com are willing to void their warranties with aftermarket equipment/accessories, why are those same people worried about GM restructuring and how it would affect their warranties. I smell a double-standard afoot folks. What's it gonna' be?!

dkb · 05-27-2009, 10:56 AM

Quote:

Originally Posted by moto-camaro

i just checked the web, couldn't find anyting that outright says whether GM does or does not have to pay back the money from the bailout/loans. if anyone finds one, post the link up, i'd like to get the story straight, seeing as we've got conflicting rumors on the go here. i heard the same as SummoneR, GM has to pay it back, as they're Auto Loans, not auto bailouts.
Will gm go bankrupt? it's a possibility. does that mean it's gone? no.
i wish the harbingers of doom would be silent and stop instilling mass panic.

I keep saying this on these boards when this topic comes up ... there's nothing to pay back. They are NOT loaning GM money ... they are taking stock in the company in return for the injection of funds. There may be even more money they provide to GM over the next few years in the form of a loan but a whole lot if not all the money the government invests is being taken as stock.

This is not like the Chyrsler bailout years ago where the gov merely loaned money and chrysler paid it back. This time the government is buying the company. The NY Times has a big article on it this morning.

The feds are likely to own 70% of the company ... the unions another 20% with the Canadian government having another smaller chunk. Private investment in the company is being wiped out entirely .....

AZCamaroFan · 05-27-2009, 10:56 AM

They never should have taken a dollar from the Government. Had they declared bankrupty 6 months ago they'd be on their way out of this mess. Instead it's turned into a bigger mess.

Design1stCode2nd · 05-27-2009, 01:08 PM

Quote:

Originally Posted by azfan

They never should have taken a dollar from the Government. Had they declared bankrupty 6 months ago they'd be on their way out of this mess. Instead it's turned into a bigger mess.

Actually they would probably be in chapt. 7 liquidation if they had done that.

Darth Martel · 05-27-2009, 02:27 PM

70% stake in the company = getting paid back

The Treasury is going to sell those shares and get plenty of money so, I'm not really seeing how the taxpayers aren't getting paid back.

Dr Jkel · 05-27-2009, 02:42 PM

Does this mean if GM files Chapter 11 that everything will stop, just like Chrysler, even the Camaro?

fdjizm · 05-27-2009, 02:47 PM

so GM is paying back the 15.4 bil they borrowed?

bballr4567 · 05-27-2009, 02:50 PM

If they file Chapter 11 we have nothing to worry about. If they file Chapter 7 I will be VERY VERY worried.

moto-camaro · 05-28-2009, 11:52 PM

Quote:

Originally Posted by dkb

I keep saying this on these boards when this topic comes up ... there's nothing to pay back. They are NOT loaning GM money ... they are taking stock in the company in return for the injection of funds. There may be even more money they provide to GM over the next few years in the form of a loan but a whole lot if not all the money the government invests is being taken as stock.

This is not like the Chyrsler bailout years ago where the gov merely loaned money and chrysler paid it back. This time the government is buying the company. The NY Times has a big article on it this morning.

The feds are likely to own 70% of the company ... the unions another 20% with the Canadian government having another smaller chunk. Private investment in the company is being wiped out entirely .....

now i've got my story straight, thanks for clarifying

05-27-2009, 08:02 AM	#15
nards444 Drives: 1SS/RS Black Join Date: May 2009 Location: New york Posts: 2,123 View My Garage	watch CNN right now, they are talking about it, if not look on CNN __________________ 2010 1SS/RS Black, CGM stripes, polished Rims, Tinted windows, Hurst shifter

05-27-2009, 08:46 AM	#16
moto-camaro CEO of the Internet Drives: the Roflcopter Join Date: Mar 2009 Location: Halifax, NS Posts: 1,282 View My Garage	i just checked the web, couldn't find anyting that outright says whether GM does or does not have to pay back the money from the bailout/loans. if anyone finds one, post the link up, i'd like to get the story straight, seeing as we've got conflicting rumors on the go here. i heard the same as SummoneR, GM has to pay it back, as they're Auto Loans, not auto bailouts. Will gm go bankrupt? it's a possibility. does that mean it's gone? no. i wish the harbingers of doom would be silent and stop instilling mass panic. __________________

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05-27-2009, 10:56 AM	#19
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05-27-2009, 02:47 PM	#23
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