So it's just about official..GM files for Chapter 11

[NJ346]

GM to head into bankruptcy
Early morning filing planned. Obama will address nation. U.S. to put up $30B more for 60% stake - 'End of an old GM and the beginning of a new one.'

Full article: http://money.cnn.com/2009/05/31/news/companies/gm_bankruptcy_looms/index.htm?postversion=2009060102

Looks like if you like the lsx motor and want to buy a new car with one in it, better get em soon.

[MonmouthCtyAntz]

Looks like there will be a new 5.0 GT in my future :nod:

[Tru2Chevy]

Meh....the Corvette and Camaro aren't going anywhere anytime in the next few years.

- Justin

[procamaroz28]

it will still be operable tho and something can still save it... (knock on wood)

[madness410]

Looks like there will be a new 5.0 GT in my future :nod:

dont say that man!

[Frosty]

Meh....the Corvette and Camaro aren't going anywhere anytime in the next few years.

- Justin

Yeah, they're not going anywhere. The rest of the fleet will probably be sparkling pretty, polar bear friendly cars though. :rolleyes:

[JerzyIroc]

Yeah, they're not going anywhere. The rest of the fleet will probably be sparkling pretty, polar bear friendly cars though. :rolleyes:

God forbid a company wants to built cars that resemble being efficient. That's such a horrible thing. :rolleyes:

[Frosty]

God forbid a company wants to built cars that resemble being efficient. That's such a horrible thing. :rolleyes:

...when they're not in demand right now it IS a horrible thing. You realize that the pretty little Prius' sales are slipping and cause a ton of environmental damage when the batteries go bye bye? Right now there's no incentive to buy a more expensive hybrid due to gas prices(which could open up the possibility of a federal gas tax in the future to FORCE them to be a viable choice). GM already makes some efficient vehicles but they seem to have the inability to market that

I'm all for cars that get more than 13mpg like my GTA, lol, however a company needs to make what people want. If gas prices level off hybrids and super fuel efficient vehicles won't be attractive to people anymore unless their someone who does a ridiculous amount of driving or cares about what a few polar bears think. If the credit market opens up again and the economy gets rolling again people won't HAVE to buy that little junk Cobalt , the might start buying SUV's again. Unfortunately GM(and other car makers) are still at the mercy of the banks. If people can't get a loan they're not buying new vehicles, who has $20-30K cash sitting around? This is an opportunity for government control, nothing more. It's a bit ironic that in a span of a few months the government passes some big FEDERAL CAFE standards and owns a car company...just saying.

I hope it works out for GM but I have a sinking suspicion that if they're a bit sluggish with sales or profits Uncle Sam will be pulling the strings. Really it's a lose/lose situation. It's obviously the geniuses at GM can't run a company and when has the government EVER run something efficiently and effectively? :rofl::rofl::rofl:

[LTb1ow]

.
I hope it works out for GM but I have a sinking suspicion that if they're a bit sluggish with sales or profits Uncle Sam will be pulling the strings. Really it's a lose/lose situation. It's obviously the geniuses at GM can't run a company and when has the government EVER run something efficiently and effectively? :rofl::rofl::rofl:

While I may not agree with the rest of your ideas, that is 100% true, the govt. sucks at doing most if not all things timely and on budget.

[Frosty]

I'm trying not to sound like I wear a tin foil hat every night but I just don't like a ton of government involvement. GM already makes efficient vehicles, I just worry that the government is going to push them to kick it up a notch when it's not needed. GM sales don't suck because they make gas guzzlers..GM's sales suck partly because people THINK they make gas guzzlers. Perception trumps fact 99% of the time.

[BigAls87Z28]

Correct, its a preception.
Goverment said they will take a hands off approach. The goverment was giving loans out before, so GM was trying to look good.
Now the goverment wants them to make money and be profitable because they have a reason for so.
GM has tons of hybrid and future technology, cars like the Vette and Camaro will have very little damage to the CAFE numbers
Plus, Obama changed the CAFE numbers from the bumbbling ******** the prior administration left.
Now there is, yet again, a CAFE reg for cars, and CAFE for trucks, not all one big group.

[Frosty]

Al, there are a few worries I have about this whole thing...taxpayers were against this, the general public was against this. Some officials from the administration said yesterday they don't think they'll be able to recoup all the money GM is getting...if there's an outcry in years to come about the government/taxpayers getting paid back you bet your ass the government will pull strings so they can "do something". Again, perception is everything..if people perceive they're getting screwed there's going to be outrage.

I really feel the government will at some point tell GM what to do. I hope I'm wrong, I hope I'm out in left field somewhere but I flat out don't trust this administration and I didn't agree with Bush's distribution of bail out funds either.

I know the 'vette and Camaro are safe and I'm all for fuel efficient vehicles to a point...not every vehicle needs to be a 50mpg Prius that can't get out of it's own way.

[V]

who else likes pie?







oh and oh well for GM, i think im almost satisfied with my current car collection..