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GM Bankruptcy Official

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SeanKHotay
06/01/09

In reply to GM Bankruptcy Official
Did I hear right in that the company will separate into two entities Good GM (Chevy, Buick, Cadillac, & 'kept' plants exit bankruptcy in 60-90 days) and Bad GM (Opel, Saab, Pontiac, Hummer, & closed plants, on indefinite hold/bankruptcy)?!

WTF is that?!
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creigs9
06/01/09

In reply to GM Bankruptcy Official
Can somebody please explain how it's possible to trade GM shares when the company is bankrupt? Also, is Chrysler/Fiat trading on the exchanges? If so where, under what symbol?
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engineerd
06/01/09

@creigs9: Shares of a company in bankruptcy are de-listed by the company since, in bankruptcy, there are no equity-holders. The shares, though, can still be traded "over the counter". This article isn't that great, but it kind of explains it [en.wikipedia.org]).
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engineerd
06/01/09

In reply to GM Bankruptcy Official
GM, when/if they emerge successfully from Ch. 11 reorganization, should come out with the Firbird again.

Why?

Simple: The Phoenix was a mythical firebird who went down in flames then re-emerged from the ashes.

Of course, if the reports of GM producing cars in China for sale in the US are true, then they should come out with a modified Camaro called the Fenghuang.
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engineerd
06/01/09

@engineerd: By "Firbird" I, of course, meant Firebird.

Stupid vacation. Ruined my typing skilz.
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Graverobber
06/01/09

@engineerd: Or they could just come out with another Phoenix:

Mmmm, malaisy.
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RLJ676-LS3 Commuter Car - for the environment
06/01/09

@engineerd:

That small car with tiny volume and no profit is now being built here to satisfy the UAW.

But I guess everyone is building low volume, $11K sub-B cars in the US huh?
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engineerd
06/01/09

@RLJ676-LS3 Commuter Car - for the environment: "no profit"...isn't that how GM got in this mess anyway? Stupid CAFE rules!

@petersterncan: Or "Chlamydia" since it flares up, goes away, then comes back.
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sos10
06/01/09

@engineerd: Or build cars in Phoenix?
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Elhigh
06/01/09

In reply to GM Bankruptcy Official
You wonder to yourself, with a turd this big, how many times do you have to push the lever to make it go down?

See Chapter 11 for suggestions and references on how to work the plunger.
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Graverobber
06/01/09

In reply to GM Bankruptcy Official
I think it was the Camaro brake weight costs that pitched them over the edge.
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Jim Topoleski
06/01/09

In reply to GM Bankruptcy Official
I just hope people realize that the bailout wasn't wasted on this.

The bailout has a lot to do why GM is only expected to be in bankruptcy till Sept, and Chrysler is expected to be out of bankruptcy by mid June possibly even sooner based on reports this morning.

Typically Chp 11 can take a year or more.
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pauljones
06/01/09

@Jim Topoleski:

You have just posted a controversial opinion that has polarized this site many times before.

Prepare to be flamed in 3...2...1...

/For what it's worth, I agree.
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