Not looking to be pessimistic, BUT... GM Bankruptcy thoughts? - Page 4 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Bowtie Girl · 05-11-2009, 10:42 PM

Fact is, if you have a product you supply to a customer and that customer goes bankrupt you surely won't supply the product until there is a guarantee that you will get paid. If they file bankruptcy they don't have to pay their suppliers...and their suppliers wont supply product anymore without a guarantee.....very simple. I have watched this over and over again with businesses as I worked in a bank. GM is a bit bigger than the businesses I worked with but it is still the same concept. They can't pay their bills and that is why they are going to file.

LSP2010 · 05-11-2009, 11:00 PM

i really dont care as long as i get my car. chevy coming back dont worry

FiLTHy PHiL SS/RS · 05-12-2009, 01:10 AM

Quote:

Originally Posted by KJS

Finally - I wouldn't be overly concerned about GMs bankrupcy, except if you're one of its bond holders. Filing chapter 11 buys them time to reorganize and still continue doing business. It may impact some of the smaller suppliers, but there will be a GM for a long time.

Bond holder....? what about my Common Stock?
i have 950 shares. If i sell now, a loss. if i dont. Do i lose it all during a bankrupcy?

Keep

or dump

?

JDBeck23 · 05-12-2009, 02:29 AM

Keep, it'll go back up, guaranteed!

*Milk 1027* · 05-12-2009, 02:42 AM

NO POLITICAL DISCUSSION.

and since everybody decided to ignore my post, I'll have to quote myself.

Quote:

Originally Posted by Milk 1027

One thing I would like to clear up and have been trying to clear on this forum for a while now, is that GM filing bankruptcy is not a negative thing.

If (and that's a huge if) GM has to file bankruptcy they will be in and out of it quickly and nothing will change except for internal company restructuring.
The chance of bankruptcy alone should not be a reason to re-consider a Camaro or any GM vehicle for that matter.

With that being said, good review, and let us know what you think after you get to test drive a Camaro.

Oh and yes and I am being serious.
please ignore the pink milk carton.

Watch this whole video.

Quote:

Originally Posted by Milk 1027

my summary: after watching

AC-Delco Stays

great news!!

He said that they will be restructuring the 4 core brands to see what it is they need in every brand.
However, when he was listing the brands he said 5 names. Chevrolet, GMC, Cadillac, Buick, and Pontiac at the end. Don't know if anyone else noticed that. But he didn't talk about Pontiac like he did the other brands. He actually said they will take a look at what role Pontiac plays in the company.

Speaking about bankruptcy he said that if their current goals can't be reached, they will be reached in the bankruptcy process.
In other words there is no need to worry if they go under.

and there will be no world-wide impact if bankruptcy is filed in the U.S.

http://www.camaro5.com/forums/showthread.php?t=18950

domano 68 · 05-12-2009, 08:18 AM

Bankrupcy will happen...unless the brass at GM realize union favoritism must end, once and for all!

It will happen because bondholders who own the majority of GM's debt are being offered $.08 on the dollar while the union is being offered $.50 on the dollar. Simple math.

Hylton · 05-12-2009, 08:31 AM

Quote:

Originally Posted by snsdiver72

The GM head honchos who attended had stated to assure all customers who ordered the camaro will get theirs real soon and nothing is going to happen with production during the bankruptcy and or possible shut downs of certain plants. In fact he stated the equinox and camaro will continue to be produced. Just what he told me so I thought I would pass it on to you all.

Thanks for the information but he/they can't say that. Once a company declares bankruptcy, it's ability to make such decisions are greatly reduced. This is a result of a few things, namely parts suppliers demanding to be paid before supplying and stake holders submitting to the courts motion after motion after motion which can affect regular operations.

Everything from the plants, HQ building, GM name and brand names become "wards of the courts" and stakeholders have no plans to leave empty handed. In other news, Senior GM execs sold all their remaining shares on Friday......

Hylton · 05-12-2009, 08:32 AM

Quote:

Originally Posted by domano 68

It will happen because bondholders who own the majority of GM's debt are being offered $.08 on the dollar while the union is being offered $.50 on the dollar. Simple math.

Yep. What a joke! What would you do as a bondholder?

Hylton · 05-12-2009, 08:38 AM

Quote:

Originally Posted by Milk 1027

If (and that's a huge if) GM has to file bankruptcy they will be in and out of it quickly and nothing will change except for internal company restructuring.

That vid is a couple of weeks old and since then, GM has posted it's latest quarter's results and failed to negotiate an equitable solution with bondholders. Consider changing your "if" in the above sentence to "when".

Design1stCode2nd · 05-12-2009, 10:57 AM

Expect a Chapt. 11 filing in about 2 1/2 weeks. I'd also be worried about the Oshawa plant and other Canadian plants closing or shutting down.

Internet rumor from GM documents is they plan to move some production to Mexico, China and Korea with most of the losses coming from Canada.

bowtiedriver · 05-12-2009, 11:14 AM

I had to deal with this whole topic just last night with two guys that work at a GM dealership. The conversation started with the sky is falling and GM is not going to be around much longer and you better get this car while you can because they might stop making it.
I just got so frustrated, and informed him of all the pre-orders, and extra plant shifts needed due to the high demand of this car. Then the conversation goes to he got to test drive the floor model. He tell me he drove the v-8 with the ~300 hp. NEWS TO ME!! I proceeded to tell him that wasn't the v8, and that was one of the v6 cars every dealership got. I just got so frustrated, I said bye and left.

NVMY68SS · 05-12-2009, 11:17 AM

Ok, so what's gonna happen when the file for bankruptcy to all of the cars still on QC hold?

Will they have to sit another 60 days somewhere while the reorganization takes place?

Will they get the cars finished and out before then?

domano 68 · 05-12-2009, 11:19 AM

Quote:

Originally Posted by Hylton

Yep. What a joke! What would you do as a bondholder?

I would hold out, not take the $.08 offer and see what the Bankruptcy court would offer.

Certainly the bondholders share will get negotiated up and the Union's share negotiated down before June 1. If not, YES WHAT A JOKE!!

domano 68 · 05-12-2009, 11:20 AM

Quote:

Originally Posted by NVMY68SS

Ok, so what's gonna happen when the file for bankruptcy to all of the cars still on QC hold?

Will they have to sit another 60 days somewhere while the reorganization takes place?

Will they get the cars finished and out before then?

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.

05-12-2009, 02:29 AM	#46
JDBeck23 Drives: 2010 Camaro, 2SS/RS Join Date: May 2009 Location: King George, Va Posts: 881	Keep, it'll go back up, guaranteed! __________________ 2010 2SS/RS CGM American Racing Headers, Magnaflow axle back, Roto-Fab CAI, Audio Integrations Sub box, Alpine Type R 10, Alpine MRP-500 amp, Pro Clips iPhone Mount

05-12-2009, 08:18 AM	#48
domano 68 Drives: 2014 1LE Join Date: Sep 2008 Location: SE Posts: 627 View My Garage	Bankrupcy will happen...unless the brass at GM realize union favoritism must end, once and for all! It will happen because bondholders who own the majority of GM's debt are being offered $.08 on the dollar while the union is being offered $.50 on the dollar. Simple math. __________________

05-12-2009, 11:17 AM	#54
NVMY68SS Drives #296 Drives: 1968 Camaro SS - 350/5 Speed Join Date: Aug 2007 Location: Smithfield, NC Posts: 953	Ok, so what's gonna happen when the file for bankruptcy to all of the cars still on QC hold? Will they have to sit another 60 days somewhere while the reorganization takes place? Will they get the cars finished and out before then? __________________ #296 Delivered 6-1-09 Dynoed 10-3-09 384.56HP 387.65TQ with the bolt-ons listed, no tune.....yet! Roto-Fab CAI (Install pics here), Doug Thorley Shorties, Flowmaster American Thunder 409S Cat Back Vid

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05-11-2009, 10:42 PM	#43
Bowtie Girl Drives: Black 2LT RS Auto 20" Polished Join Date: May 2009 Location: Southern Cali Posts: 138	Fact is, if you have a product you supply to a customer and that customer goes bankrupt you surely won't supply the product until there is a guarantee that you will get paid. If they file bankruptcy they don't have to pay their suppliers...and their suppliers wont supply product anymore without a guarantee.....very simple. I have watched this over and over again with businesses as I worked in a bank. GM is a bit bigger than the businesses I worked with but it is still the same concept. They can't pay their bills and that is why they are going to file.

05-11-2009, 11:00 PM	#44
LSP2010 IM A GURL Drives: 2010/2SS Join Date: May 2009 Location: Killeen,TX Posts: 640	i really dont care as long as i get my car. chevy coming back dont worry

05-12-2009, 10:57 AM	#52
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	Expect a Chapt. 11 filing in about 2 1/2 weeks. I'd also be worried about the Oshawa plant and other Canadian plants closing or shutting down. Internet rumor from GM documents is they plan to move some production to Mexico, China and Korea with most of the losses coming from Canada.

05-12-2009, 11:14 AM	#53
bowtiedriver Drives: 2009 WhiteHot G8 Gt Join Date: Jan 2008 Location: California Posts: 71	I had to deal with this whole topic just last night with two guys that work at a GM dealership. The conversation started with the sky is falling and GM is not going to be around much longer and you better get this car while you can because they might stop making it. I just got so frustrated, and informed him of all the pre-orders, and extra plant shifts needed due to the high demand of this car. Then the conversation goes to he got to test drive the floor model. He tell me he drove the v-8 with the ~300 hp. NEWS TO ME!! I proceeded to tell him that wasn't the v8, and that was one of the v6 cars every dealership got. I just got so frustrated, I said bye and left.