GM Bankruptcy Thread

Quote from musclemoney:


Anyone think the Acura TL Type S would be a good choice?
http://www.google.com/imgres?imgurl...n&sa=X&oi=image_result&resnum=2&ct=image&cd=1
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TL Type S is fine if you want a technology packed ride....the problem I have though is the platform. A FWD platform with just shy of 300 hp does not work well imo for great driving dynamics (perfect car for the ladies though who dont care). A better choice in this segment imo would be the C350 Sport a G35S or the new CTS (Lexus IS350 is great too but the backseat is too damn small)......BMW 335i drives great but they look dull and the interior almost scares me....LOL!

New A4 coming out is another excellent choice, or wait for the new Acura TL to be released soon with the SH-AWD if you just gotta have an Honda/Acura product.

I like the Pontiac G8 GT and this cars driving dynamics but some may be turned off by the MPG's. :)
 
Quote from CaptainObvious:

Kia... yes it's trash. Not so with Hyundia anymore, least not in my experience. My Hyundai holds up against my wifes Honda in my opinion.
Back on topic. GM won't go belly up, but it'll be years in the restructuring.
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Kia and Hyundai have BOTH come a very long way and will continue to gain market share with great price points and excellent warranties. Hyundai has the new Genesis Sedan (selling this summer) and Genesis Coupe (selling in January 09) that are both getting some EXCELLENT reviews....these companies will be helped by a retracting economy in the U.S. as more consumers have to downsize thier vehicle expenses.

Genesis Coupe (RWD with 300 Hp).... http://www.youtube.com/watch?v=QmyIjNmTVoU
 
Good to see that S&P are gradually getting rid of GM from its indices before bankruptcy.

Next step: remove GM from the S&P 500

http://biz.yahoo.com/prnews/080710/nyth143.html?.v=101

NEW YORK, July 10 /PRNewswire-FirstCall/- Standard & Poor's will make the following changes to the S&P 500, S&P 100 and S&P SmallCap 600 indices:

-- MasterCard Inc. (NYSE: MA - News) will replace ACE Ltd. (NYSE: ACE - News) in the S&P 500, and MasterCard will replace General Motors Corp. (NYSE: GM - News) in the S&P 100 after the close of trading on Thursday, July 17. ACE is in the process of changing its place of incorporation to Switzerland, thus rendering it ineligible for inclusion in the S&P U.S. indices. General Motors will continue to be a member of the S&P 500.
 
At some point bankruptcy protection becomes a solution and no longer something to try and avoid.

It would be an ideal position for GM to renegotiate pensions and health benefits with the government and unions. Senior debt could be paid off by selling European and Korean divisions to other car makers.

I see a meaner and leaner GM emerge from bankruptcy.
 
I am short GM, so I'm not happy about the proposal discussed in the article below.

How do US taxpayers, (that have no financial interest in GM or F) feel about the proposal?

How likely is it that they will get cheap government loans?


DETROIT, Aug 22 (Reuters) - The Big 3 Detroit-based automakers are seeking about $25 billion in federal loans as they struggle to ride out a steep downturn in U.S. auto sales, The Wall Street Journal reported on Friday.

The U.S. automakers -- General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz), Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) and Chrysler LLC -- briefed White House officials, Congressman John Dingell and Michigan Democrats on a possible bailout and plan to unveil the proposal next month, according to the report.

The plan is for the government to lend some $25 billion to the automakers in the first year at an interest rate of 4.5 percent, or about one-third what the companies are currently paying to borrow, the report said.

Under the proposal, the government would have the option of deferring any payment at all for up to five years, the article said.

Representatives at GM, Ford and Chrysler were not immediately available for comment.

GM Chief Executive Rick Wagoner said on Thursday that the top U.S. automaker was seeking federal loan guarantees for itself and its suppliers. He declined to say how much the company was looking to borrow under such a program if it were approved by the government.

The Detroit Free Press reported earlier this month that executives at GM, Ford and Chrysler met to agree they would need about $40 billion to ride out their current troubles, and the way out of the losing streak would be a government bailout. (Reporting by Soyoung Kim; Editing by Lisa Von Ahn)
 
Quote from slaphappy:

I could have sworn GM got rid of GMAC years ago. I guess not.
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they sold 49% to cerberus, the same company that owns chrysler. they bought a bunch of subprime stuff at the market top. very lucky gm got rid of 50% of gmac unlucky for cerberus.

Plus i dont know how gmac is structured but i think they can go bankrupt without it affecting GM
 
I say let the government bail out everyone and everything. Short the dollar!

Proping up failed companies is very bad for the economy.
 
Quote from The Kin:

I say let the government bail out everyone and everything. Short the dollar!

Proping up failed companies is very bad for the economy.
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yeah it worked out so bad for chrysler in the 1980's. hey if you can give a 4.5% sr. subornated note to GM why not? your saving many usa jobs and making money on it.
everyone likes to say the us government bailed out Bear, but they will make a bunch of money on it. Bailout works, not all the time, but it works
 
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