GM files for Chapter 11

[JackstandJohnny]

http://www.theglobeandmail.com/report-on-business/general-motors-files-for-bankruptcy-protection/article1162686/


179 billion in debt, with 82 billion in assets....................... ya, they've been fawked for a while.................

[FullMetalJeep]

"...

Its Pontiac, Saturn, Hummer and Saab operations will be either sold or closed. GM said it was finalizing a deal to sell Hummer, and plans for Saturn are expected to be announced within weeks.

GM earlier outlined a plan to cut about 1,100, or 40 per cent, of its dealers by the end of 2010. It also plans to shed about 500 dealerships that market the Saturn, Hummer and Saab brands.

..."

[JackstandJohnny]

donno how often this happens, but GM stock opened up 25% HIGHER this morning with the announcement of bankruptcy............ interesting. i think it may be time to get into some GM stock.......  i think they have nowhere to go but up now.

[corsjeep]

I hope they come out stonger,their new products are very very good.Good luck GM!

[Caddy]

I think it will help them. they can thin down there product line to a more healthy amount of cars. instead of having 5 different kinds of cars that are all the same. this is the biggest problem with most of the major auto makers today.

this thinning will help not only the automakers but Consumers as well.

plus North American Car companys are finnally starting to sell there vehicles at the price they should be at or at least close to it.

[w squared]

First move to rationalize the new "Hummer" product line - Ditch the H2 and H3!

[FullMetalJeep]

First move to rationalize the new "Hummer" product line - Ditch the H2 and H3!

actually i think they should make a hummer minivan. that should solve all their problems, dont you think that would just make sense?

[jandh]

They should sell the Hummer line and give it to a company that will make a good version of the Hummer, not a watered down money grab.

I was watching the Driving test on the best and worst vehicles and the Hummer/H2/H3 all finished all the worst all round vehicles.

and just for the recored i love GM, but some of there product over the past 16 years has been crap - mostly in the past 9 years

[hps4evr]

im not a fan of GM at all. the biggest reason is the vehicles have been crap for the last 18 years. as soon as they put IFS in their trucks and blazers they all turned to crap. and i didnt care for the poor engineering in a lot of their vehicles. and they go and buy daewoo and sell them as small GM cars. but again, its not the vehicles, its the unions.
so i guess in the everlasting battle between Ford and chevy Ford will win:)

[Immortal]

GO TEAM FORD!!!!

[Caddy]

Ford isn't doing much better. but they may get away without having to file for bankruptcy. tho I dont know if that is a good thing or bad now. GM is going to be a strong company if they rebuild correctly. and that is IF they do it right.

[JackstandJohnny]

the hummer line is the stupidest line of vehicles GM ever introduced. they deserve to go under just for it. 


this bankruptcy has been visible for quite some time, i just think everyone has chosen to look the other ways.  GMs been cash strapped for years, the unions have continually taken them to the 'car wash' and they produce inefficient overpriced crap.  costs continually went up; quality has gone down, (passenger cars), as did demand for their major money makers..... (SUVs)

ford and dodge are all the same.  i mean, honestly, how many different variations of an SUV or minivan do you need? theres thousands. all over priced.  i can't believe more people didn't see this when gas hit 1.50 last year and GM was still producing Yukons and suburbans in record numbers........... and have been for the last 5 years.......

now that they are bankrupt though, they can sell off assets and get rid of the unions. that alone will bring them back to profitability.

one of their main issues has been the big three have shrunk their own market.  people in Toronto, Montreal, and Vancouver will always be more liekly to buy something smaller cause of city living.  the big three have just continued producing beasts, and nothing smaller.  the sunfire/Aveo/(insert SUV of choice) just can't compete with anything made by nissan/toyota/hyundai etc.  last time i checked most people in Toronto don't want/need a 1 tonne to drive to work.  i think here in Alberta we forget about that cause everyone here is in the patch or needs/wants/have a truck for some reason.   
furthermore, they forgot about a major marketing group; thats young adults;  not everyone has oil money or company allowance to buy a 60k truck.  what other options do you have at a dodge dealership?  goto a hyundai dealership, and u can get setup with a new car for 10k. you can't find anything at eh big three for under 20 these days


if they wanna get strong, they'll follow market trends

[esi]

im not a fan of GM at all. the biggest reason is the vehicles have been crap for the last 18 years. as soon as they put IFS in their trucks and blazers they all turned to crap. and i didnt care for the poor engineering in a lot of their vehicles. so i guess in the everlasting battle between Ford and chevy Ford will win:)

GM has made the best gas power engine for a long time and still does. How many jeeps run them and how many run ford motors. IFS has its place in the world too, it rides way better than a solid axle does, and 90% of the trucks out there never actually see any terrain that they were meant for anyway. Not that I don't think that there are way to many GM models that are the same with a different grill or set of fenders and the whole GM&Chevrolet truck brother lines is very retarded. I'm sure one would line will do just fine. Does Ford really need like 15 different SUV models that start with E. The only decent one was the Excursion do to its school bus size and diesel engine, but they quit it.

And I'm sure someone will reply with a picture of a ford motor in a jeep, but it was probably put there because of distributor location and clearance issues.



Just my $.02, and opinions are like @rsh0les...

[Immortal]

I thought the 4.0L was a Ford design...... ?

[Waytec]

No the 4.0 is a Massey Ferguson design.