Dealership Bankrupcy - Update

[2SSRS@Gen5diy]

Originally Posted by bob2the2nd

if you arent going to stop complaining about it at least learn to spell the word DOES.

dos is the spanish word for 2.

Sorry Does this make you all happy now.

And to NVMY68SS thank you for getting it, This is not the first car i ordered from GM, But it is the last one.

[NVMY68SS]

Originally Posted by 2SSRS

Sorry Does this make you all happy now.

And to NVMY68SS thank you for getting it, This is not the first car i ordered from GM, But it is the last one.

I'm with you buddy!

This is my first ordered car from GM and was genuinely excited about the whole process. I was finally in a place to do something like this and GM just took all the fun out of it. I really enjoyed hearing that the 3 cars ordered after mine are either already picked up or shipping in as we type.

I won't be doing this again that's for sure. And if I do, it will only be for a Corvette where I can go pick it up at the plant.

I sincerely hope they can get all of their issues worked out, but they haven't done anything to show it yet.

Oh, and who else thinks that since the Total Confidence program has been extended to June 1, they will hold these cars so they won't have to pay off down the road. It makes just as much sense as holding the cars til the BR so they can show it as money coming in.

Good luck to everyone........I'm losing my Total Confidence with each passing day.

Oh, I wish for the days when we were waiting for the next spy shot to come out. At least it was fun back then. Now it just pisses me off to think about it.

[bballr4567]

I really feel for all you guys who have had cars "stuck" at Oshawa. Its unreal that it takes so long to get a car figured out. Granted its a new model but still.

[bob2the2nd]

Originally Posted by bballr4567

I really feel for all you guys who have had cars "stuck" at Oshawa. Its unreal that it takes so long to get a car figured out. Granted its a new model but still.

honestly i feel sorry for them too, but at the same time i ordered probably only a month after them and thats at most (i ordered mid november) and ill be lucky to get my car by the end of june. At the very least even if GM goes bankrupt they will still get their car, while I and thousands of other people have no clue when or even if our cars will be built.

I feel bad but to say something in several different threads about it is just way too much. we know you are upset, we know you want your car, but almost everyone else on the site is in the same boat.

[2SSRS@Gen5diy]

I did post in 4-10 posts after i got off the phone with (no B.S.) the CEO's office of GM, And it really got me so mad that this person dos not give a rats a$$ for the like of me or you, All that he had to say was call DBC and the 1-800-no-help line, It was as if i was speaking to a wall, did not want to help.

So i was mad as hell.

[JMAN311]

I can't say too much about the behavior of some of the people whos cars are stuck in QC since I bitch all the time about how unfair I feel the allocation system is.

But could people PLEASE stop saying they wish GM would fail. I know you're angry at GM for your personal situations...and you have every right to be upset....but......THIS WHOLE COUNTRY WILL BE HURT GREATLY IF GM FAILS. So we should think of all the families of GM and other american auto companies/vendors/part suppliers/distributors that have already been negatively effected by what's happening in this industry and hope for things to get better instead of wanting it to get worse.

[2SSRS@Gen5diy]

I know that you think that, But if gm is sold off, Some one will buy it up and the fed will not need to put more $ in the fire.

[JMAN311]

Originally Posted by 2SSRS

I know that you think that, But if gm is sold off, Some one will buy it up and the fed will not need to put more $ in the fire.

Regardless of how it goes down...chapter 11 restructuring, some kinda buyout, etc...more people will be losing their jobs and it will effect jobs of people in more companies than just GM.

[NVMY68SS]

Originally Posted by JMAN311

I can't say too much about the behavior of some of the people whos cars are stuck in QC since I bitch all the time about how unfair I feel the allocation system is.

But could people PLEASE stop saying they wish GM would fail. I know you're angry at GM for your personal situations...and you have every right to be upset....but......THIS WHOLE COUNTRY WILL BE HURT GREATLY IF GM FAILS. So we should think of all the families of GM and other american auto companies/vendors/part suppliers/distributors that have already been negatively effected by what's happening in this industry and hope for things to get better instead of wanting it to get worse.

You are correct about the ripple effect when GM goes down. I'm sorry, people not buying domestic and years of customer service issues and escalated prices due to union wages is what has brought us to this point.

I was pissed when I said I hoped they would go bankrupt. I don't really want them to, but at this point, it's inevitable. They're gonna close 1100 dealers. Avg 50 people per dealership and there's another 55,000 out of work alone.

Time will tell............

[PieNsky]

Originally Posted by NVMY68SS

I'm with you buddy!

This is my first ordered car from GM and was genuinely excited about the whole process. I was finally in a place to do something like this and GM just took all the fun out of it. I really enjoyed hearing that the 3 cars ordered after mine are either already picked up or shipping in as we type.

I won't be doing this again that's for sure. And if I do, it will only be for a Corvette where I can go pick it up at the plant.

I sincerely hope they can get all of their issues worked out, but they haven't done anything to show it yet.

Oh, and who else thinks that since the Total Confidence program has been extended to June 1, they will hold these cars so they won't have to pay off down the road. It makes just as much sense as holding the cars til the BR so they can show it as money coming in.

Good luck to everyone........I'm losing my Total Confidence with each passing day.

Oh, I wish for the days when we were waiting for the next spy shot to come out. At least it was fun back then. Now it just pisses me off to think about it.

I WOULD BE HAPPY IF I WAS IN YOUR SHOES!!!!!!!!!
Of course I'm only saying this as I am still at 1100

[PieNsky]

Originally Posted by NVMY68SS

You are correct about the ripple effect when GM goes down. I'm sorry, people not buying domestic and years of customer service issues and escalated prices due to union wages is what has brought us to this point.

I was pissed when I said I hoped they would go bankrupt. I don't really want them to, but at this point, it's inevitable. They're gonna close 1100 dealers. Avg 50 people per dealership and there's another 55,000 out of work alone.

Time will tell............

THAT IS A MISCONCEPTION.
PM me if you REALLY want to know the truth

[z06invb]

Well GM stock is down to 1.15 a share. I am going to ride my last 400 shares into the ground I guess. The execs all bailed out and sold their shares so the rats have left the sinking ship. I wish GM well but I just dont see them coming out of ch 11 assuming it goes ch 11 being anything like the GM you all knew before. And I dont mean that for the better.

And this isnt about buying American. The big 3 would go where the labor was cheapest. They only used buy American when it suited them. In reality they could give a hoot about it.

I wonder how the Chinese will build a Camaro and if the government will let them.

Good bye GM it was a great ride.

[bobby35ny]

Originally Posted by z06invb

Well GM stock is down to 1.15 a share. I am going to ride my last 400 shares into the ground I guess. The execs all bailed out and sold their shares so the rats have left the sinking ship. I wish GM well but I just dont see them coming out of ch 11 assuming it goes ch 11 being anything like the GM you all knew before. And I dont mean that for the better.

And this isnt about buying American. The big 3 would go where the labor was cheapest. They only used buy American when it suited them. In reality they could give a hoot about it.

I wonder how the Chinese will build a Camaro and if the government will let them.

Good bye GM it was a great ride.

Think about it.........It's a SAD state of affairs when we can build a car in CHINA and ship it here, for LESS than what we can build it here for. Who's fault is that?

-bobby

[Grimelock2009]

GM dealers await word
General Motors (GM) is also about to give as many as 2,000 of its 6,200 dealers the bad news, Reuters reported. A spokesman for GM said the number won't be quite that high.

Chief Executive Fritz Henderson, who's been candid about the possibility of bankruptcy for GM, acknowledged earlier this week that dealers will be alerted of the closures as part of an "orderly wind down" through the remainder for year.

Further details are expected from GM on Friday.

GM last week posted a loss of $6 billion, or $9.78 a share, for the first quarter, wider than the company's loss of $3.3 billion, or $5.80 a share, a year ago. The stock is trading around 76-year lows. In midday dealings, GM was down 4% at $1.16.

Several top executives, including Vice Chairman Bob Lutz, sold off what was left of their positions in GM shares last week. See full story on GM share sales.

Car sales, in general, are still plumbing decade lows and none of the major automakers, including Toyota Motor Corp. (TM), have been spared.

Ford Motor Co. (F), the healthiest of the domestic manufacturers, has managed to avoid a federal rescue to this point.

GM, despite $15.4 billion in government help, will likely join Chrysler in bankruptcy in the next few weeks if the Detroit giant fails to reach concessions from the union and bondholders.