Obama auto officials to visit Detroit; GM auditors doubt automaker's viability - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 6 Old 03-05-2009, 01:20 PM Thread Starter
 
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Obama auto officials to visit Detroit; GM auditors doubt automaker's viability

The Obama administration's top auto advisers will travel to Detroit next week to meet with all three domestic carmakers, auto industry sources said. News of the meeting comes as GM disclosed in its annual report today that there is "substantial doubt" about the company's viability and that bankruptcy is possible unless the automaker can implement a broad restructuring plan, according to a regulatory filing today.


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post #2 of 6 Old 03-05-2009, 07:51 PM
 
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post #3 of 6 Old 03-05-2009, 09:06 PM
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i really have faith in GM... but Chrysler for sure is going bankruptcy they haven't done anything but the redesign of the Jeep Grand Cherokee...
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post #4 of 6 Old 03-05-2009, 09:08 PM
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Quote:
Originally Posted by APCamaro View Post
i really have faith in GM... but Chrysler for sure is going bankruptcy they haven't done anything but the redesign of the Jeep Grand Cherokee...
And the new -inside-and-out 300C and Charger, and the new Unibody Durango.





Also their ENVI line is very revolutionary.

┌∩┐(◣_◢)┌∩┐

Last edited by Taglane; 03-05-2009 at 09:13 PM.
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post #5 of 6 Old 03-06-2009, 02:47 PM
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If GM gets to fill Chp 11 no strings attached because of this, it will be the best thing to have happened in a long time for the company. They'll finally be able to cut the Unions.

The only thing I'm worried about in GM filing Chp 11 is, what will happen to the suppliers who still have yet to recieve money from GM? Would GM filing Chp 11 set off a wave of Chp 11/7 filings by suppliers?

Project: 89 RS => AX/RR
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post #6 of 6 Old 03-07-2009, 11:48 AM
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how will this affect shareholders?
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