: GM finally bites the dust :(



Mystical_Ice
06-01-09, 11:33 AM
http://finance.yahoo.com/news/General-Motors-files-for-apf-15397846.html :(

not really news since we all saw it coming, but i guess now it's official


GM will move forward with four core brands -- Chevrolet, Cadillac, Buick and GMC -- and cut four others. The company plans to cut 21,000 employees, about 34 percent of its work force, and reduce the number of dealers by 2,600.

The Tony Show
06-01-09, 11:37 AM
They're seeking bankruptcy protection while reorganizing- not "biting the dust". AT&T, K-Mart, the Airlines, the Railroads and hundreds of other companies that have filed Bankruptcy protection are still around.

billc83
06-01-09, 11:45 AM
:yeah:

It's Chapter 11 (Reorganization), not Chapter 7 (Liquidation).

AG'S-V
06-01-09, 11:54 AM
Yikes...that's a lot of people and dealers.

CIWS
06-01-09, 12:05 PM
Ok so, if the Majority of GM is now owned by the government, and I work for the government, do I now get to take advantage of the Employees discount ? :eyebrow:

Jesda
06-01-09, 01:41 PM
ATT isn't really around. ATT was limp by the time it was bought out by SBC then SBC renamed itself ATT. Most of the railroads disappeared.

Jesda
06-01-09, 01:42 PM
Ok so, if the Majority of GM is now owned by the government, and I work for the government, do I now get to take advantage of the Employees discount ? :eyebrow:

Wait until another employeediscountforeveryone fire sale. :D

CadzillaTN
06-01-09, 02:17 PM
the only way GM will survive is to ditch the cancerous UAW. this has been a fact since day 1. of course, our socialist president will not allow this to happen.

Jesda
06-01-09, 02:36 PM
http://www.jelloslug.com/stuff/sad%20GM.jpg

Tao_Haus
06-01-09, 02:50 PM
ATT isn't really around. ATT was limp by the time it was bought out by SBC then SBC renamed itself ATT. Most of the railroads disappeared.

AT&T "died" because it was a monopoly. Its demise can be traced to the early 1980s when the Department of Justice broke it into seven companies via a gov't break-up suit the DOJ brought after AT&T lost a huge civil antitrust case brought against it by Litton Systems.

I don't see GM failing outright. But, if it does it'd be a real shame. Like a lot of GenXers, I switched back to domestic products because of GM's output. After a BMW, Porsche and a couple odds & end from hither & yon, I bought a 2005 Yukon Denali XL and, of course, I then bought my 2006 V 'cause I was satisfied with the truckster. (Both cars I bought new.) Quality's there and the cost to operate (i.e., flog, break stuff, fix it & enjoy s'more) is far below comparable BMW's, Porsche's, Benzes or Japanese makes.

billc83
06-01-09, 02:58 PM
The Feds won't let GM go under. If they're going to force their hand in the Chrysler C11 proceedings (Chrysler having FAR less employees and scope than GM), it's a sure bet it will happen for GM. If public backlash becomes to much, and sales don't pick up, expect billions more to be poured into them.

Frankly, Ford should start an ad campaign tomorrow with a new slogan: "Ford: We are not bankrupt."

V-Eight
06-01-09, 03:01 PM
Well their motto used to be "Heartbeat of America" I think that if GM were to go under, America is ****ed

RightTurn
06-01-09, 04:20 PM
:umno: Actually, Chevrolet's slogan was "Heartbeat of America". Not GM.

Ranger
06-01-09, 04:56 PM
the only way GM will survive is to ditch the cancerous UAW. this has been a fact since day 1. of course, our socialist president will not allow this to happen.
They cannot do that. It's illegal. The day of reckoning has come for the UAW. They have had their eyes opened and now realize that it CAN happen to them.

V-Eight
06-01-09, 05:51 PM
:umno: Actually, Chevrolet's slogan was "Heartbeat of America". Not GM.

I know, but Chevy is GMs biggest line.

77CDV
06-01-09, 06:08 PM
http://www.jelloslug.com/stuff/sad%20GM.jpg

Bet the SOB still runs (more than you could say for any ricer in comperable condition):2thumbs:

V-Eight
06-01-09, 06:53 PM
LOL, I just realized that smashed in like that, it kinda looks like an old Civic

Night Wolf
06-01-09, 11:57 PM
Wonder what this means for the Solstice/Sky.... if they'll move on to Chevy or die off completely, which would not be cool. I really like them.

Othen then the fact that GMC is General Motors Company, I really see no reason why they are sticking around.

gary88
06-02-09, 12:06 AM
Government Motors :alright:

V-Eight
06-02-09, 12:41 AM
Othen then the fact that GMC is General Motors Company, I really see no reason why they are sticking around.

Yeah, all they have to do is offer the higher trims (Denali) in the Chevy line.

billc83
06-02-09, 01:15 AM
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"G$"
06-02-09, 08:52 AM
:umno: Actually, Chevrolet's slogan was "Heartbeat of America". Not GM.

There is still Ford which is doing OK.

Destroyer
06-02-09, 08:59 AM
I don't see GM failing outright.Newsflash: It already did.

Rodya234
06-02-09, 09:22 AM
Bankruptcy=/=Failing.

Jesda
06-02-09, 12:26 PM
Bankruptcy is an admission of failure and a need to start over.

RightTurn
06-02-09, 02:19 PM
Well their motto used to be "Heartbeat of America" I think that if GM were to go under, America is ****ed


:umno: Actually, Chevrolet's slogan was "Heartbeat of America". Not GM.


There is still Ford which is doing OK.

Um..ok... What does Ford have to do with anything?? :confused:

I~LUV~Caddys8792
06-02-09, 02:43 PM
Bankruptcy is an admission of failure and a need to start over.

Agreed. Bankruptcy is the ultimate failure in business.

Playdrv4me
06-02-09, 05:37 PM
Be that as it may, this thread title is completely inaccurate.

Ranger
06-02-09, 09:10 PM
:yeah:

ga_etc
06-03-09, 02:55 PM
Threads like this is what makes me love this site. Very informative yet oh so entertaining at the same time ;).

AMGoff
06-03-09, 09:03 PM
Wonder what this means for the Solstice/Sky.... if they'll move on to Chevy or die off completely, which would not be cool. I really like them.

Othen then the fact that GMC is General Motors Company, I really see no reason why they are sticking around.

Why get rid of a brand that's damn near pure profit? Not only that, but a brand which was the 7th top selling brand overall in the toilet we like to call 2008, but is also currently GM's second best selling division after Chevrolet.

Aside from the fact that a Sierra buyer will spend on average $2-4000 more on their truck than a Silverado buyer, marketing research has shown at least that the second choice of most Sierra buyers (which totaled something like 170,000 sales last year) was in fact the Ford F150 - not the Silverado... That's just the Sierra and not counting GMC's other 200,000 sales.

So why axe a brand that not only takes very little in terms of R/D, but one which a large number of its buyers clearly have no desire of buying Chevrolet - no matter how similar the products are?

A lot of people are simply funny like that... and GM is seemingly more than happy to oblige them, rather than give upwards of 300-400,000 sales to Ford or any other competitor each year.

As far as the Kappa cars go... Yes, they are definitely good cars and it would be a shame to see them go. However, it might just not be financially reasonable to keep a dedicated, low-volume platform in production. Then again, the money has already been spent to develop it... So it would be equally stupid for GM to cut it all together.

While I can see Chevy getting a version as sort of a "baby-'vette" (since the Sky already bears a striking resemblance), personally... I would love to see Buick get a version of it. I've said for years that Buick needs a "halo" car and a kappa-based roadster would be a perfect choice. Their Velite concept from a few years back was a gorgeous car and I believe it may have been Kappa based, although I'm not entirely certain of that.

Either way... Buick desperately needs a vehicle like that, especially to complement such truly great cars as the Enclave and the upcoming LaCrosse. Maybe if GM is genuinely serious about Buick being a "core" brand and with P/S/S/H out of the way, the fabled brand might finally get some of the money, products, and requisite marketing it so deserves...

RightTurn
06-03-09, 09:09 PM
http://i188.photobucket.com/albums/z117/sarahw422/bumblebee-gm-or-ford.gif