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Automotive News & Views GM News, New Models and Market Share
8237 messages, Last post on Nov 22, 2009 at 8:40 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: dieselone (Jan 14, 2009 6:29 am) Regards, OW |
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Replying to: 62vetteefp (Jan 14, 2009 6:43 am) You need to get out more. You need a lawyer and a financial adviser when you go for service at my GMC dealer! Regards, OW
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Replying to: circlew (Jan 14, 2009 4:22 am) what if all airlines that are losing money were liquidated through bankruptcy. That would leave a few carriers. how would we all like it if then there were a 1 in 10 chance we could fly to a desired destination? Would anybody support a bailout of the airlines or would I-75 and I-95 become parking lots? What would happen to the D3 when rental fleets at airports were just sitting? Since they are such bad cars would it not matter? I think hybrids are not the final solution and GM is smart enough to know that as well. To make money selling them, $4k has to be added to the car price. The interest on the extra $4k is $280 a year. The ins. is probably another $200 a year, the $4k spread over 60 months is another $66 a month, and in my state there is $280 more sales tax in year one and an excise tax of about $50 a year for many years on the extra $4k. Bottom line is they don't pan out unless you drive 25k miles a year and gas stays out of it's current price slump. Then you still only have a very marginal savings and may have given up some utility to get it. |
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Replying to: dave8697 (Jan 14, 2009 9:31 am) Regards, OW
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Replying to: dave8697 (Jan 14, 2009 9:31 am) I thought the two-mode hybrid was more like an additional $10K, so your figures are very conservative. It's not worth it. |
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Replying to: gagrice (Jan 13, 2009 3:47 pm)
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Replying to: dave8697 (Jan 14, 2009 9:31 am) Maybe not, but Toyota managed to find 241 thousand takers last year alone. And if GM were "smart enough", they wouldn't have slapped a few of their own pathetic attempts together to try and compete for those sales. They also would have been even smarter if they stuck to their guns and stayed out since they were neither up to snuff (underperforming compared to thier non-hybrid counterparts) and had big problems with battery leaks. 
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Economist sees modified bankruptcy ahead for GM Jesse Snyder Automotive News January 13, 2009 - 10:15 am ET UPDATED: 01/13/09 4:59 ET DETROIT -- General Motors is likely to need a modified version of bankruptcy to restructure the last part of its debt, says Deutsche Bank Managing Director Rod Lache. "The chances are greater than not that there will be bankruptcy, at least for GM," Lache said here today at a Society of Automotive Analysts conference. "But it won't be the disruptive, scary bankruptcy that suppliers fear." Subscribe to Automotive News Lache said GM must restructure $62 billion in debt, including converting $30 billion in unsecured debt into $10 billion in new bonds and $20 billion in equity. But about 20 percent of unsecured bondholders won't convert voluntarily, he said. "GM must get a Bankruptcy Court to order that," Lache said. But it won't be a messy, complicated process, he predicted. Lache expects GM to renegotiate its contract with the UAW and persuade the union to convert into new equity GM's scheduled $20 billion in contributions to a union-run trust fund known as a Voluntary Employee Beneficiary Association, or VEBA. But Lache predicts that without a court order, GM can't get all parties to agree to its debt restructuring. Without sacrifices from all parties, the other agreements will collapse, he said. "Without that, labor may not agree to make its sacrifices, and a federal car czar may not approve the package," he said, referring to the yet-to-be appointed administrator of the auto industry rescue effort. With or without a bankruptcy, GM's shareholders will lose all or most of their investment, Lache said. If creditors agree to swap their existing debt for mostly equity of perhaps $40 billion, existing debtors would see GM's current market capitalization of $2.5 billion dilute further. "But if it goes to bankruptcy, the court would almost certainly eliminate all shareholder equity," Lache said. "Shareholders may get something if GM restructures. But if it goes to bankruptcy, they'll get zero." |
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Friend of mine in the industry says all voice mail at GM headquarters is turned off, is this true? Are they really trying to shut out thier suppliers? I know his company is pretty peeved at them right now. I'm sure they're not the only ones who are getting shafted. 
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Replying to: anythngbutgm (Jan 14, 2009 11:06 am) yes voice mails are being turned off but they are being turned off with the phone. Some had both a land line with voice mail and a cell phone with voice mail. They are going to one. |
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