Gm to File Chapter 11 buy next week?

Discussion in 'Trucks and Trailers' started by nosparkplugs, Feb 15, 2009.

  1. nosparkplugs

    nosparkplugs LawnSite Gold Member
    Posts: 3,445

    GM to file Chapter 11, I had to check myself too:cry: it's easily confirmed with several source's. Everything is pointing to the real deal this time, most disturbing or proof positive GM has no plan to repay the 14 billion it took in Tarp funds. Tuesday is the government deadline for GM's new business plan or repayment of the 14 billion. Maybe GM will ask for extension

    Gm has leaked it would then look to form another new company:dizzy:
     
  2. Ramairfreak98ss

    Ramairfreak98ss LawnSite Silver Member
    Posts: 2,210

    sucks, i like GM stuff, i have all ford trucks but all of my cars are GM besides the mustang. I hope the cars i "want" wont shoot up in price for demand though... especially if they axe pontiac in the new company :/

    I want a 05-06 GTO, 99-02 WS6 firebird, a camaro z28 or SS in those same years, a GXP Grand prix 05-08 and a G8 GT or GXP. My g/f wants a Saturn Sky redline or a Pontiac solstice gxp.....im gonna be bad in debt if these cars start going up in the next year or two
     
  3. 4.3mudder

    4.3mudder LawnSite Silver Member
    Posts: 2,227

    Well, I would have to say that it is bad, BUT, may it be a lesson. Hopefully Dodge and Ford will stop pumping out them 20 MPG Trucksas well, and focus on what the economy REALLY WANTS AND NEEDS. This same problem was in effect with the 70's oil crisis. If they would have taken their heads out and fixed the problem after that they would not be in this predicament. The same problem is to this day, with these huge trucks and SUV's and high fuel consumption engines. That's waht got them in trouble almost 40 years ago, and look, they didn't learn, Sorry GM.
     
  4. stuvecorp

    stuvecorp LawnSite Fanatic
    Posts: 5,213

    I would hope this dosen't happen but may be somebody needs to crash the bus?:confused: I don't think GM would ever go away but also didn't think this would be possible.
     
  5. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    So the "Heart Beat of America" need a defibrillator :laugh:

    Not surprised GM is in deep chit they have had a bad attitude thinking they would never have troubles. I'd say let them go under.
     
  6. coolluv

    coolluv LawnSite Gold Member
    from Atlanta
    Posts: 3,515

  7. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,164

    May just be a bluff to the unioun as negotiations have stalled.
     
  8. lawn king

    lawn king LawnSite Silver Member
    Posts: 2,252

    GM will still be around, they will survive this one way or another. The economy is in too tough a state to let this giant fall. The feds will step up.
     
  9. allinearth

    allinearth LawnSite Senior Member
    Posts: 609

    ....And that will be more wasted money. We should let the company fall. May be painful at first but in the long run they will re organize and be stronger.
     
  10. lawn king

    lawn king LawnSite Silver Member
    Posts: 2,252

    I cant argue with you there, but i dont see it happening. 100% health care coverage for life was a insane, granted they made a lot of other bad decisions.
     

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