Quote »CHICAGO (Reuters) - General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition."One plan includes a Chapter 11 filing that would assemble all of GM's viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked."http://www.reuters.com/article...90214
03 Vibe base. Born 10/14/2002 06:07 AM
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
This just in.... Quote »SAN FRANCISCO (MarketWatch) -- The United Auto Workers has walked away from concession talks with General Motors Corp. over a dispute on payments to a retiree health-care fund, according to a report published Saturday.http://www.marketwatch.com/new...msr_1
03 Vibe base. Born 10/14/2002 06:07 AM
Auto, Moon & Tunes, power package. 143k
Neptune/dying clearcoat/primer grey.
I still think capter 11 is the only way GM will survive. I sure hope it works out. I've always owned a GM vehicle of some sort.
"Don't look to the government to solve your problems, the government is the problem." Ronald Reagan"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." Ben Franklin.
Except for a diesel engine VW Golf, I too have always bought GM vehicles. I beleve Chapter 11 is the best path but it is frought with potholes (pun intended), the worst being no one will buy a vehicle from a manufacturer in bankruptcy and further push GM into the void, possibly taking the other two American brands with it.it will be tough for all manufacturers because there is a huge glut of vehicles awaiting transport to dealers and these vehicles have to be sold before more can be made. it will be tough and interesting times for the automobile industry
no longer a vibe owner"Peace cannot be kept by force. It can only be achieved by understanding." Albert Einstein.