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1950 Custom GMC Pickup
1990 Red ZR-1
1999 Pewter Corvette Coupe LS1
2009 Jet stream Blue Z06
2003 Custom Harley Sportster
2003 Custom Harley Heritage Springer
2003 Iron Horse Outlaw -
Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
The current C6 will continue to be produced as long as it sells enough to be profitable. The question is: Will GM make the investment to produce a C7 when the current model becomes stale. Given the huge investment required for new models, it's questionable whether GM would even spend a few hundred million to significantly upgrade C6, but lets not forget that C3 lasted for about 15 years and the chassis was five years older.
A lot depends on timing. If C6 sells well (relatively speaking) for the next five or more years, C7 has a shot. If sales dry up before then, production may cease with no C7.
Bankruptcy seems ever more probable for GM. If you owns shares, consider selling them as those shares will likely be worthless if any form of bankruptcy occurs including a "prepackaged" type where they file on Monday and emerge on Tuesday as a new company.
Duke -
Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
I would think that the Corvette is considered part of the Chevrolet division.
It is my (limited) understanding that divisions such as Hummer & Saturn could/would be sold or closed.
Within divisions - some models might need to be discontinued. That is where the fate of models such as the Corvette, Camaro, Volt, etc. would be determined.Comment
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
My friend who has a 2010 Camaro SS on order since Oct. 08 can not find anything out yet about the production of any V-8's. I wonder if they would pull the production out of the Canadian plant and try to merge with Bowling Green if possible. Just a thought.
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
I heard they were going to be moving the Corvette production to Oshawa along side the Camaro.
Just kidding.
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
thinking of buying a few shares incase it doesn't happen..GM has been under $2.00 lately..
might be worth a shotComment
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
...or you could go to Vegas and put your stake on red or black at a roulette table.
DukeComment
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
How about Ford stock?
I bought some a few weeks ago and it looks good so far. The only Ford I ever owned was a Fairlane wagon I think in the late sixties.
Ford might just benefit by the bankruptcy of the other Big 2 even though I believe at least GM will survive and hopefully do very well with some good management.Comment
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
I bought ford also...I did good with it...was at like 3.43 the other day and I sold...hey more than doubled my money not bad I probably should have hung onto it.
citigroup is a good investment now too I bought into them when they were sub $2.00Comment
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GM readies for 'fast' bankruptcy
GM readies for 'fast' bankruptcy
Micheline Maynard and Michael De La Merced, Detroit
April 14, 2009
THE US Department of the Treasury is directing General Motors to lay the groundwork for a bankruptcy filing by June 1, despite GM's contention it could still reorganise outside court.
Members of President Barack Obama's vehicle industry taskforce spent last week in talks with GM officials and its advisers. The talks are expected to continue this week.
The goal is to prepare for a fast, surgical bankruptcy, sources said at the weekend.
GM, which has been given $US13.4 billion ($A18.5 billion) in federal aid, insists a quick restructuring is necessary so its image and sales are not damaged permanently.
The groundwork is aimed at ensuring a GM bankruptcy filing is ready should it be unable to reach a deal with bondholders to exchange about $US28 billion in debt into equity in GM and with the United Automobile Workers union.
Mr Obama was concerned about risks to GM's pension plan and wanted to avoid harming workers, the sources said.
Spokesmen for GM and the Treasury did not comment.
One plan being considered would create a new company that would buy GM's good assets almost immediately after it files for bankruptcy.
Less desirable assets, including unwanted brands, factories and health-care obligations, would be left in the old company, and could be liquidated over several years.
Treasury officials are examining whether the "good GM" enters and exits bankruptcy protection in as little as two weeks, using $US5-7 billion of federal money. The rest of GM might need as much as $US70 billion in government money, and possibly more to resolve the health-care obligations and liquidation of the factories, legal experts and federal officials said.
Since replacing Rick Wagoner two weeks ago, GM chief executive Fritz Henderson has sent clear signals that bankruptcy is probable unless agreements are reached with labour and the bondholders by June 1.
Mr Henderson has asked staff to work with legal and government advisers, but he does not believe bankruptcy is inevitable.
John Paul MacDuffie, an associate professor at the Wharton School at the University of Pennsylvania, said he saw little chance of an out-of-court restructuring, given that the Obama Administration had rejected GM's proposed revitalisation plan last month. It was submitted without the concessions needed from bondholders and the union.
"The simplest way to frame it is that they took the loans, there were conditions on the loans, they didn't prove their case for financial viability, and they didn't meet the deadline, either," Associate Professor MacDuffie said.
Treasury has hired Boston Consulting Group to help with the plan. Participation from banks also may be needed.
GM has started an advertising campaign stressing that car buyers should have confidence in it, and offering to make nine monthly payments of up to $US500 each for owners who lose their jobs.
NEW YORK TIMES1950 Custom GMC Pickup
1990 Red ZR-1
1999 Pewter Corvette Coupe LS1
2009 Jet stream Blue Z06
2003 Custom Harley Sportster
2003 Custom Harley Heritage Springer
2003 Iron Horse OutlawComment
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1950 Custom GMC Pickup
1990 Red ZR-1
1999 Pewter Corvette Coupe LS1
2009 Jet stream Blue Z06
2003 Custom Harley Sportster
2003 Custom Harley Heritage Springer
2003 Iron Horse OutlawComment
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
Key words from above: "...bankruptcy is probable unless agreements are reached with labour and the bondholders by June 1." This tells me the odds are a $2/share investment will end up as a loss. I hope I am wrong.https://MichiganNCRS.org
Michigan Chapter
Tom DingmanComment
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Re: General Motors Corp is in "intense" and "earnest" preparations for a possible ban
Word on the news yesterday was that even Automotive Czar Steve Rattner was under investigation by the SEC for a kickback scheme.
Stu FoxComment
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