Comments on: GM could be liquidated if sale not approved

By: carforall.net

carforall.net — Sun, 05 Jul 2009 12:19:20 +0000

Shak…….Did you read the report on Holden on the AGE website? Holden are in massive trouble as well and there is no guarantee they will survive. They may well be the next casualty of the auto industry…….lets hope so. Dont believe the usual Holden spin……..they are in bigger trouble than anyone thought.

By: RoFlmaTiC

RoFlmaTiC — Sat, 04 Jul 2009 14:38:39 +0000

Frontman said: “I read somewhere recently that a finacnial consultancy firm employed soon after the demise of Wagoner cost GM 125Mill US and couldn’t come up with a restructuring plan. (They still got paid though!).”

Since when have financial consultancy firms been part of the legal fraternity? Do you realise the bulk of the lawyers involved are actually in house; ie employees of GM itself?

By: Limited Slip

Limited Slip — Sat, 04 Jul 2009 11:28:44 +0000

Phil C that is correct.

By: jon

jon — Sat, 04 Jul 2009 10:35:48 +0000

Sorry Phil C I don`t agree, but only time will tell I guess.

By: Phil C

Phil C — Sat, 04 Jul 2009 04:37:18 +0000

For those that haven’t read the Age article. It has facts which suggest that the GMH liabilities currently exceed net worth by $250M and that was at the end of 2008 calender year. They predict it is much worse now. Ie exports have dropped by 83-85% depending on where you read, C’dore sales are down 11% this year and upcoming expenses for Cruze have yet to be paid. Ouch, ouch, ouch.

PS The new saviour, the Cruze, just this month was rated 4th best small car by Wheels mag. VW Golf (new), Mazda3 (new) and Focus (5yrs old) beat it.

By: Phil C

Phil C — Sat, 04 Jul 2009 04:33:17 +0000

Jon, you are wrong. The Falcon will not be replaced by Taurus. Head of Ford Motor Worldwide engineering, Derek Kuzak, said the Falcon is iconic and is RWD. The unbelievable good Falcon i6 motor is safe up to Euro5 which comes in 2015. So, Falcon is safer than GMH C’dore as far as future planning goes.

By: jon

jon — Fri, 03 Jul 2009 11:15:48 +0000

The bottom line is Holden will survive unfortunately and so will the Commodore because our Government, labour or liberal will keep propping them up with our taxes.If any one car being built here is in troube its the Falcon, I truly believe the Falcon will be replaced with the Taurus but one with cosmetic changes to Australian tastes.

By: Roddy

Roddy — Fri, 03 Jul 2009 09:50:03 +0000

The same old spin from the same tired old Ford fans

By: SamR

SamR — Fri, 03 Jul 2009 09:37:09 +0000

I think Holden will survive even if the worse happens to GM. Rudd will give Obama a call and mention our shared history. As a last resort he will beg and throw money in.

They should have one more life left.

By: JEKYL & HYDE

JEKYL & HYDE — Fri, 03 Jul 2009 07:40:42 +0000

i wonder what odd’s one could get on g.m. being liquidated when obama own’s it.do i hear “national security”…

By: Slick shift

Slick shift — Fri, 03 Jul 2009 02:32:16 +0000

Holden are far far far from a viable concern just yet…..I think we are in for a big shock in the near future…..

By: AB

AB — Fri, 03 Jul 2009 02:04:22 +0000

I just feel sorry for all the suppliers to the ‘Old GM’ who will surely never get paid their money from unpaid bills and contracts once the ‘valuable’ assests are sold to the ‘New GM’

By: FrugalOne

FrugalOne — Fri, 03 Jul 2009 01:53:17 +0000

Looks like they are not out of the “s” just yet.

The GovCo has NO right to be involved with any private enterprise, where were they when PanAm was dying?

U can see in Germany that the GovCo will not be bailing out porker/vw.

Let old/new GM & H die, or they can do a alliance with somebody else….hello FIAT?

Cheers

F-0

By: Will

Will — Fri, 03 Jul 2009 01:53:02 +0000

Frontman, the lawyers always win. Wish I had chosen that profession some years ago. My maternal grandfather always held them in great disdain…but we won’t go there.

By: Frontman

Frontman — Fri, 03 Jul 2009 01:48:18 +0000

Whilst so many of you shun GM and the Obama consortium, you all seem to be overlooking the real wrong doers here. The legal fraternity are making billions out of all of these Chapter 11 and company buyouts / amalgamations etc. I read somewhere recently that a finacnial consultancy firm employed soon after the demise of Wagoner cost GM 125Mill US and couldn’t come up with a restructuring plan. (They still got paid though!). Take these courtroom Jockeys out of the picture who arre looking for every little loophole to argue about (remember the longer the argument the better the income @ $1,000.00+ US and hour)

By: Shak

Shak — Fri, 03 Jul 2009 01:41:13 +0000

Thanks for calming me down DesignEng.

By: Will

Will — Fri, 03 Jul 2009 01:16:54 +0000

Foremost in the minds (with the caveat that they actually have minds) of those whom are considering buying the mutant Korean/Australian manifestation of Obama Motors Inc. is; who will honour the warranty in a few years…

Now I’m not a Holden fan, but lets not panic too much.
I think you might find that the info the Age story was based on is now 6 months old (but only just now released), and that GMH is OK as a going concern at the moment.
The Aus motor industry, whilst just a little shaky like the rest of the world, will be fine for the next 5-10 years. Beyond that, who knows.

By: Shak

Shak — Fri, 03 Jul 2009 00:52:22 +0000

i did Limited Slip, and it made me sad. I said i wished they would survive, but its looking less likely by the day. I mean now their pegging the Cruze at us. Although its a Korean car it did stack up well in a recent comparison by WHEELS mag. It cam fourth to the Golf, 3, Focus.

By: GTR

GTR — Fri, 03 Jul 2009 00:47:40 +0000

Don’t you think it’s funny how Jeep can survive while GM can’t!

Comments on: GM could be liquidated if sale not approved

By: carforall.net

By: RoFlmaTiC

By: Limited Slip

By: jon

By: Phil C

By: Phil C

By: jon

By: Roddy

By: SamR

By: JEKYL & HYDE

By: Slick shift

By: AB

By: FrugalOne

By: Will

By: Frontman

By: Shak

By: Will

By: DesignEng©™

By: Shak

By: GTR