GM have about 100 days to go??

[Yellow_Festiva]

Just heard that GM will go belly up in around 3 months.

At that time it is predictd that cash will run out, and they will need to go into whatever the US calls bankrupcy (Section 11???).

[Cobra]

Links?

[FlipXW]

Where did you get that from? If thats true then that is huge news.

[irlewy86]

Originally Posted by Yellow_Festiva

Just heard that GM will go belly up in around 3 months.

At that time it is predictd that cash will run out, and they will need to go into whatever the US calls bankrupcy (Section 11???).

Chapter 12

[Yellow_Festiva]

No links sorry.... yet.

May be true, may be BS. We may / may not see more come out in a day or two.

[AlbertM]

http://www.reuters.com/article/vcCan...3418GM20081106

[CRUSHU F150]

GM has placed it's world wide AC Delco arm on the market, and it's GMAC finance arm is withdrawing from Australia and New Zealand by the end of the year. BTW, General Electric is also considering shutting down it's finance arm, which will be a major blow to all the furniture and whitegoods shops, car yards etc, as GE finance is everywhere.

[Yellow_Festiva]

Originally Posted by AlbertM

http://www.reuters.com/article/vcCan...3418GM20081106

And this one:

http://www.financialpost.com/most_po...html?id=935227

[Jason[98.EL]]

i know this is probably a stupid question but

what would this meen to gmh here in au

if their parent co falls wouldnt that take them as well

i would hope not as it would have a big part to play in what cars we see here from now on

Grimus

[irlewy86]

Originally Posted by Grimus

i know this is probably a stupid question but

what would this meen to gmh here in au

if their parent co falls wouldnt that take them as well

i would hope not as it would have a big part to play in what cars we see here from now on

Grimus

GM the business will declare bankruptcy but that doesn't mean the end of Holden.

[DJR-351]

Bloody Hell!!!!!!

Some of, NO!, all of the figures mentioned in these reports are mind boggling,
where the hell, even with a country like the US, will the money come from for all these bail outs.

GM goes to the wall its not only its motoring arms, it has its sticky fingers in a few pies.

I heard a story years ago that the Vatican was one of its biggest share holders, if so i think having God on your side might not help with the pile of poo they are now in.

Australia needs to pull in her ranks and consolidate before we get pulled down into the mire along with the US, sorry forgot, one thing stands in our way GLOBALISATION...

Tongue in cheek but again Bloody Hell............

[DJR-351]

Originally Posted by XA351COUPE

Bloody Hell!!!!!!

Some of, NO!, all of the figures mentioned in these reports are mind boggling,
where the hell, even with a country like the US, will the money come from for all these bail outs.

GM goes to the wall its not only its motoring arms, it has its sticky fingers in a few pies.

I heard a story years ago that the Vatican was one of its biggest share holders, if so i think having God on your side might not help with the pile of poo they are now in.

Australia needs to pull in her ranks and consolidate before we get pulled down into the mire along with the US, sorry forgot, one thing stands in our way GLOBALISATION...

Tongue in cheek but again Bloody Hell............

Post Script:

Barack, my heart goes out to you, hope you are upto it.........

[XRtowcar]

We all know what the close down stories did for Mitsubishi in this country....

[vanman_75]

interesting,thats a big hole in the world market .we will wait and see on this 1

[4Vman]

Originally Posted by vanman_75

interesting,thats a big hole in the world market .we will wait and see on this 1

World wide there are too many car manufacturers.. one of the big ones must go.

[buggerlugs]

Also heard today from a reliable Holden source, that the Holden Dealers are in huge trouble because GM Finance, finance all the new cars on the floor and they are going belly up...........24 days of finance left and then " Find your own Finance fellas"

[Steve]

I wonder how cashed up the Indian and Chinese car makers are and whether they might be in buy out mode? I think this presents an opportunity for stronger car makers.

[The Mighty Red]

I watched a doomesday show a month or so ago and it was saying that more than one Prophet has said the world as we know it will end in the year 2012....with everything thats going on in the world I think they have a pretty good case.

On topic....err.....deregualting the banking industry obviously wasnt a very good idea

[Yellow_Festiva]

Originally Posted by 4Vman

World wide there are too many car manufacturers.. one of the big ones must go.

Exactly. Although brand choice is great in an ideal world, from a business sense it's madness that GM and Ford are spending many many millions / billions designing, engineering and producing products that are near identical in their design, prupose and price.

At one stage GM was the largest car manufaturer in the world.

If this has to go ahead, who knows what will happen? Half of me is saying that it will be a bonus for Ford (more customers / less competition) but then, perhaps negative public perception will drag Ford down as well.

Wonder if a GM / Ford merger will be again mentioned in the comming weeks?

[vztrt]

Originally Posted by buggerlugs

Also heard today from a reliable Holden source, that the Holden Dealers are in huge trouble because GM Finance, finance all the new cars on the floor and they are going belly up...........24 days of finance left and then " Find your own Finance fellas"

That effects 60 dealers, there was a thread on it.

[Hillbilly F Truck]

Holden/ Ford rivalry aside..this would be a tragedy.

[FGII-XR6]

if Holden go the Falcons would have no one to beat at Bathurst

[SM1DY]

Originally Posted by Grimus

i know this is probably a stupid question but

what would this meen to gmh here in au

Grimus

I can only imagine that it would be sold off b4 GM go under. I doubt that GM Holden would go down with them.

[ivorya]

Maybe Skaife and Walkinshaw can do a quick signing of paperwork (B4 bankrupcy) so they become the new owners of Holden/HSV.......heheheeh

[irlewy86]

Originally Posted by buggerlugs

Also heard today from a reliable Holden source, that the Holden Dealers are in huge trouble because GM Finance, finance all the new cars on the floor and they are going belly up...........24 days of finance left and then " Find your own Finance fellas"

Who owns 51% of GMAC...... Cerberus

If your a fan of Holdens cancel your weekend delivery of the newspaper. Saturday is going to reveal a new twist.

[King Nothing]

Originally Posted by irlewy86

Who owns 51% of GMAC...... Cerberus

If your a fan of Holdens cancel your weekend delivery of the newspaper. Saturday is going to reveal a new twist.

Tell or ban!

[GK]

Originally Posted by ivorya

Maybe Skaife and Walkinshaw can do a quick signing of paperwork (B4 bankrupcy) so they become the new owners of Holden/HSV.......heheheeh

LOL!

GK

[Charliewool]

Originally Posted by CRUSHU F150

GM has placed it's world wide AC Delco arm on the market, and it's GMAC finance arm is withdrawing from Australia and New Zealand by the end of the year. BTW, General Electric is also considering shutting down it's finance arm, which will be a major blow to all the furniture and whitegoods shops, car yards etc, as GE finance is everywhere.

Think you'll find the GE fianance withdrawal is centred around their lending to the auto industry and home loans... Not whitegoods or furniture (YET?)
From the Age, Last week...

GE Money Australia and New Zealand will no longer offer home loans, motor finance and small business loans because of lack of funding in wholesale markets.

Chief executive and president Mike Cutter said the decision was a direct result of the credit crisis, which has prevented the company from raising funds in Australia.

It is ineligible to apply for a total of $8 billion in funding that the Federal Government is offering to promote competition in the mortgage market.

But GE Money will continue to offer retail store finance with interest-free periods, credit cards, personal loans and insurance.

[GTP290]

what about talk of gm buying out chrysler..how much truth was in that? Maybe GM Ford and Chrysler should merge as one, delete a few models and have there major sellers stilled named respectively under there brand name.

[burnz]

Originally Posted by GTP290

what about talk of gm buying out chrysler..how much truth was in that? Maybe GM Ford and Chrysler should merge as one, delete a few models and have there major sellers stilled named respectively under there brand name.

id say there would be a lot of truth in that.
GM have a lot of capital but now cash flow, where chrysler have a lot of cash.
GM's money is computer money, worth nothing.