You know, I've never seriously entertained the possibility of there being no more GM. It would be incredibly surreal. And ZOMGWTF, what's going to happen to the 'vette?They were saying on the news while I drove to work this morning that GM may lay off 20,000 people over the next few days to meet the growing bailout requirements they have.
CHICAGO (Reuters) - General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition.
"One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked."
People should be really looking at their loan contracts. When I bought my Ram from Chrysler there is a policy that they can demand IMMEDIATE repayment of the loan should bankruptcy be declared by Chrysler LLC. If GM has the same policy it could be very, very bad for a lot of people.It could be a lot more than 20,000 people.
GM considering Chapter 11 bankruptcyCHICAGO (Reuters) - General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition.
"One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked."
Hey my uncle has one of those, got to drive it a few weeks ago, it is really fun in RWD actuallymy '93 XJ Sport
I freakin' love this thing!
4WD, I6
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my next car will be another XJ
hopefully a 97 or newer . . .
Still love your truckMy 2007 Chevrolet Silverado:
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Thre words for you: new Chevrolet Malibu. And in Europe: new Opel Insignia. At least GM is starting to get it by now, Ford is attempting to, Chrysler are pretty much screwed. In any case it will take time to change the very perception that you have.Just out of curiousity, why do you hate American cars?I hate american cars but I do have a Saturn 2000 model. I got it from my parents, who in turn got it from my aunt. That model (The L) was before American cars turned to crap and I got my license with it. I will look forward to buying a japanese made car when I can though, hopefully in the next few years.
I don't like the business practices of those companies. I think they have a lot to learn from companies like Toyota and Honda and until they do, they will always produce not very good quality cars. As for the quality, I've test driven quite a few and they are just nowhere near as good as Japanese cars. They're uncomfortable, ride rough and just lack good quality.
Ooooohhhh....that's a nice one.
SILENCE! Do not speak such blasphemy! Nevermind the Vette, what about my dreamcar Camaro?You know, I've never seriously entertained the possibility of there being no more GM. It would be incredibly surreal. And ZOMGWTF, what's going to happen to the 'vette?They were saying on the news while I drove to work this morning that GM may lay off 20,000 people over the next few days to meet the growing bailout requirements they have.
I hope the hemorrhaging stops soon.![]()
It may be on the endangered list.Emher said:Nevermind the Vette, what about my dreamcar Camaro?![]()
As said, as long as GM exists, the Camaro will be built. There have such a hugely positive response that they know they have hit on their hands.Actually, if they actually do go through a bankruptcy there won't be any R&D or engineering costs to recouped, they'll be wiped off the books. I'm far more interested in seeing what "some brands" GM would intend to keep. I'm guessing Pontiac and Saturn would be gone, with Hummer and Saab sold off to the highest bidder. The Corvette is sancrosanct, but I think a retooled GM will be focusing on volume rather than excitement.
Well there's never been something called a CameroI asked about the Camero when I was car hunting a few days ago. The local GM dealer - he was one of their preferred dealers and thus could do the best deals - said that the Chevy Camero is only going to be released in limited numbers according to the latest paperwork he'd seen.
Just to jump in here in favor of hybrids, alternative fuels, tree-hugging and the cars of the future.
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'Nuff said.
I just bought a brand-new 11-year-old Toyota Rav4 and I absolutely love it.
Speaking of garage finds...
$3 million?!?! Does the garage come with it? I know it's a 57s, but damn even the junkers?!![]()
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