Gm Goes Down

[OniBerserker]

So guys, it finally happened.

GM america filed bankrupt, but there still going to keep operating under the General Motors name.

How is that even possible? Is this just a way of avoiding to repay debts under some weird American laws?

What do you guys think?

 

http://www.abc.net.au/news/stories/2009/06/01/2586451.htm

[Hiro Protagonist]

So guys, it finally happened.

GM america filed bankrupt, but there still going to keep operating under the General Motors name.

How is that even possible? Is this just a way of avoiding to repay debts under some weird American laws?

What do you guys think?

 

http://www.abc.net.au/news/stories/2009/06/01/2586451.htm

 

Same thing with Chrysler, they file Chapter 11 bankruptcy which I believe is similar to calling in the administrators, in this case they got bought out by the American government and Fiat (in the case of Chrysler), and the new owners trade their way out of insolvency.

[orangeLJ]

its not filing for bankruptcy, its filing a last ditch protection from the USA govt (bankruptcy protection)

 

The deal is based on GM slashing costs and their divisions (only in the US)

 

Holden are still going strong, 2 new models are due in the next 6 months from them. The unions are what killed the US automakers.

 

fingers crossed they can survive this crap.

[Hiro Protagonist]

its not filing for bankruptcy, its filing a last ditch protection from the USA govt (bankruptcy protection)

 

The deal is based on GM slashing costs and their divisions (only in the US)

 

Holden are still going strong, 2 new models are due in the next 6 months from them. The unions are what killed the US automakers.

 

fingers crossed they can survive this crap.

 

I'm still trying to work out why the hell Holden decided to release the Cruze under that name - sure that's what it's called overseas, but it is a stupid name, sounds awful, and brings back memories of the fake-4WD Ignis-based Cruze that was an absolute bomb.

 

The car may be OK (still essentially a re-badged Daewoo though), but the name will severely hamper it's possiblities of pulling Holden out of the pit.

[Budowski]

hopefully the follow on effect may somehow destroy holden and make way for more toyotas

 

sick of seeing rebadged daewoo's

[LukeAE71]

hopefully the follow on effect may somehow destroy holden and make way for more toyotas

 

sick of seeing rebadged daewoo's

 

+ 1 whenever I see one I call it a Daewoo.

 

I even asked one woman once how she felt driving her rebadged Daewoo, needless to say she gave me a funny look and flipped me the bird :bash:

 

For the record I was in a f**k of a mood and she had cut me off in the carpark. I don't normally try and offend what people drive :P

[orangeLJ]

They are developing a new australian built small car platform though, so essentially they will add another original model to the stable (hopefully removing one of the rebadged daewoo lineups)

 

I don't understand why they are going ape on new models at the moment though, the epica was a bit of an epic flop, now this cruze thing

[driftke70]

i wish it happened sooner, sucks about the jobs, but in all honesty the workers brought it upon themselves, its easy to blame fat cats and so on, but at the end of the day they all have a voice, they are the ones putting them together dodgey, giving them a bad name and stuff. They just failed to keep up with the times and wasted too much money on advertising, a good product will sell itself.

[Hiro Protagonist]

They are developing a new australian built small car platform though, so essentially they will add another original model to the stable (hopefully removing one of the rebadged daewoo lineups)

 

I don't understand why they are going ape on new models at the moment though, the epica was a bit of an epic flop, now this cruze thing

 

The Australian designed/built hatch is still going to be based off the Cruze platform, just with a lot more locally-developed stuff added (say kinda like how Commodores were based off Euro models up until the VE, just with significant local alterations)

[driftke70]

imported parts barely locally assembled :bash:

 

essentially taking a shitty car, taking shitty parts, putting them together to make a shitty car that looks different and has no reliability, goes like ass, uses more fuel than other small cars, and its price will be questionable, but if your neighbours think your a holden man you going to have to buy it.

[Rich_Rolla]

hopefully the follow on effect may somehow destroy holden and make way for more toyotas

 

sick of seeing rebadged daewoo's

 

Not like our economy is bad enough. I hope Holden lives on. As much as I hate the cars, Imagine what it would be like trying to get a job with that many people out job seeking. Plus, as much as I say I wish all Holdens would burn, I'd rather not see more people in this country go without an income or food.

[Budowski]

Not like our economy is bad enough. I hope Holden lives on. As much as I hate the cars, Imagine what it would be like trying to get a job with that many people out job seeking. Plus, as much as I say I wish all Holdens would burn, I'd rather not see more people in this country go without an income or food.

http://english.aljazeera.net/business/2009...6355131285.html

 

I'm sure our country can overcome the death of holden. Let it die, people with harden up and evolve and move on.

 

Don't hear much about the mitsubishi workers these days or some of the related businesses involved,what about when nissan stopped production in australia and diahatsu stopped selling cars here ?

Ford don't even make the fairlane anymore and shut the lid on that production.

 

But i can see your point, maybe I'm a hard bastard. :bash:

Edited June 3, 2009 by Budowski

[Rich_Rolla]

http://english.aljazeera.net/business/2009...6355131285.html

 

I'm sure our country can overcome the death of holden. Let it die, people with harden up and evolve and move on.

 

Don't hear much about the mitsubishi workers these days or some of the related businesses involved,what about when nissan stopped production in australia and diahatsu stopped selling cars here ?

Ford don't even make the fairlane anymore and shut the lid on that production.

 

But i can see your point, maybe I'm a hard bastard. :bash:

 

I see the problem because I have a family member working at Holdens who is already struggling with this 1 week on 1 week off with half pay crap. The economy aint the best at the moment and jobs are hard to find without a trade behind you. You can probably see from their point of view how hard it is to find a job at the age of 20 onwards without any qualifications.

[irokin]

It needs to be said that GM isn't dead. This isn't the kind of bankruptcy where you split up the viable companies, sell off the assets and call it a day. Basically what they're doing is restructuring their business not liquidating its assets. They will probably kill off some brands, (un?)fortunately holden wont be one of them. Give it a few months and you will see GM reemerge in its new form. Personally I don't think that will succeed either, too many shit cars for far too long.

[driftke70]

I'm glad suzuki didnt get too involved.