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post #1 of 21 Old 10-29-2008, 01:28 PM Thread Starter
 
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Will GM be around in 3 months?

Link to news article: http://blogs.moneycentral.msn.com/to...t-save-gm.aspx

Kim Peterson said:
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The Treasury will have a hard time saying no to GM, particularly because the former head of the Treasury is now the chairman of Chrysler's parent company. But it's time to cut GM loose. It cannot be saved.
Can we please just make it another year or two GM? We need our Camaros!!!
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post #2 of 21 Old 10-29-2008, 01:32 PM
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GM is going to def. make it. With the VUE 2 mode Hybrid, Volt, Cruze, Malibu CTS, and the Camaro at the 6,000 mark and 77% for the 2SS, GM has nothing to worry about, IMO. I think they are actually slowly making their way back up.

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post #3 of 21 Old 10-29-2008, 02:06 PM
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Kim Peterson needs to be c*ckslapped.

I censored myself.



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post #4 of 21 Old 10-29-2008, 02:15 PM Thread Starter
 
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GM has a lot of cars coming up... I agree that the future line-up looks great.

That doesn't solve the problem that today they have no money. They first need to SPEND money to make the cars you've listed before they can sell them AND people need to BUY these cars. Right now, people aren't buying.

Have you actually looked at the financials for GM, Torrent?

Have you noticed that people aren't buying cars?

Do you know how much GM is spending in pensions to retired employees?

Do you know they're selling bonds with high yields that they will have to pay back over several years, thus shooting themselves in the foot to try and stay afloat right now?

Do you know about the union contracts that they're bound to that are costing them millions?

Right now GM needs an investor willing to lend them at least $10 billion in order to make it.

Last edited by Raiz; 10-29-2008 at 02:26 PM.
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post #5 of 21 Old 10-29-2008, 02:20 PM
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GM isn't going anywhere

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post #6 of 21 Old 10-29-2008, 02:23 PM
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I really doubt the US goverment will let them go down, but if they do they can go into bankruptcy and if they do the deals with UAW and CAW will fall thru. This will allow them to get the labor rates more inline with the import cars which IIRC pay about $30 per hour less than GM does for many possitions which drives up production costs. Just because they go bankrupt doesn't mean its over for them, but I don't think they will go bankrupt.

Also it was anounced that EVERY new launch and developement procject that is not out yet is on hold exept the Volt and the Camaro.

The Chevy Cruise is also delayed in which I think needs to be here now because it is a great small car with quality much like the new Malibu.

I think going bankrupt is the last thing GM wants to do and I think they will do everything they can for that not to happen.

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post #7 of 21 Old 10-29-2008, 02:31 PM
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I leave town and go on vacation for a week, and what's the first thread I see? Another "sky is falling" story authored by another newb. Do us a favor and go troll somewhere else.

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post #8 of 21 Old 10-29-2008, 02:39 PM
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ahhhhhhh, the sky is falling. did we really need another one of these threads?

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post #9 of 21 Old 10-29-2008, 03:07 PM
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LMAO! POWERFREAK, you beat me to it.

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post #10 of 21 Old 10-29-2008, 03:20 PM
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LMAO! POWERFREAK, you beat me to it.
i can't take credit for chicken little...it was posted here a few days ago...but that picture pretty much says it all.

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