For those of you who insisted that the Camaro is a "certainty"..
11-07-2008, 04:18 PM
#31
Registered User
Join Date: Dec 2007
Posts: 85
its taxes..plain and simple..its money going to government and not to detroit...its that simple...another issue is the tax redo started at 250K its now down to near 80K...wala another reason to forget about buying a new vehicle....and there is no way the general will end up with chrysler..90% chance it goes to hyundai and becomes a state run company
11-07-2008, 04:58 PM
#32
2010 Camaro Moderator/Disciple
Join Date: Mar 2000
Location: Chester, NY
Posts: 1,087
credit is so bad right now. my neighbor has his house on the market. has accepted an offer 4 times from different buyers. everytime, the buyer was unable to secure a loan. GM is runnning ads now for "financing from over 100 banks" because GMAC isnt giving out loans unless as Guy pointed out, you have a spotless credit record.
credit makes our economy move. from big business to buying a car or a house. thats why the financial companies got their bailout money.
credit makes our economy move. from big business to buying a car or a house. thats why the financial companies got their bailout money.
Last edited by ChrisL; 11-07-2008 at 05:01 PM.
11-07-2008, 05:04 PM
#33
Registered User
Join Date: Dec 2007
Posts: 85
cerberus owns majority of GMAC..of course they wont loan to a competitior..you can get a loan if you have some skin in the game and a good credit rating..where are all these people?..sitting on cash and figuring out how to survive for the next 4 years thats where...
Ps: word been circulating that the general will recive no bail out as the economist guru's believe bankruptcy is the only solutuion...there are reasons for that..but my post always gets censored when certain things are mentioned so think for yourself why
Ps: word been circulating that the general will recive no bail out as the economist guru's believe bankruptcy is the only solutuion...there are reasons for that..but my post always gets censored when certain things are mentioned so think for yourself why
Last edited by snooter; 11-07-2008 at 05:07 PM.
11-07-2008, 05:05 PM
#34
Registered User
Thread Starter
Join Date: Jan 2008
Location: Filthydelphia, PA
Posts: 204
Because that money is not tied to anything - it is artificial - they print it out of thin air. The poisonous Fed has pumped well over $1 trillion of this kind of money into the system in the past few months. What does this cause? Inflation - a gigaton worth of it. In fact, many well respected economists feel that we are in the verge of hyperinflation, and more bailouts would make this all but certain. The dollar will plummet in value, and that will remove the US from the global economy - a result much worse than GM eating a bullet (although this would be harder in the short run).
Wow, way to entirely miss the point. GM's cash problem has been rapidly accelerating to the point that IT MAY NOT BE IN EXISTENCE LONG ENOUGH TO MAKE THE CAMARO... or any car for that matter. You can call BS all you want, that doesn't change the facts surrounding their situation. Its the 11th hour for them.
I wouldn't call it "gloom and doom", but I do have a term for your post that I'd identify by the initials "B" and "S".
Camaro production is certainly assured. If Camaros don't roll down the assembly line, you can bet the farm that there's also other massive casualties at GM bigger than the Camaro.
Camaro production is certainly assured. If Camaros don't roll down the assembly line, you can bet the farm that there's also other massive casualties at GM bigger than the Camaro.
11-07-2008, 06:03 PM
#36
Registered User
Join Date: Dec 2000
Location: City of Champions, MA, USA
Posts: 1,214
Because that money is not tied to anything - it is artificial - they print it out of thin air. The poisonous Fed has pumped well over $1 trillion of this kind of money into the system in the past few months. What does this cause? Inflation - a gigaton worth of it. In fact, many well respected economists feel that we are in the verge of hyperinflation, and more bailouts would make this all but certain. The dollar will plummet in value, and that will remove the US from the global economy - a result much worse than GM eating a bullet (although this would be harder in the short run).
Wow, way to entirely miss the point. GM's cash problem has been rapidly accelerating to the point that IT MAY NOT BE IN EXISTENCE LONG ENOUGH TO MAKE THE CAMARO... or any car for that matter. You can call BS all you want, that doesn't change the facts surrounding their situation. Its the 11th hour for them.
Wow, way to entirely miss the point. GM's cash problem has been rapidly accelerating to the point that IT MAY NOT BE IN EXISTENCE LONG ENOUGH TO MAKE THE CAMARO... or any car for that matter. You can call BS all you want, that doesn't change the facts surrounding their situation. Its the 11th hour for them.
11-07-2008, 07:10 PM
#37
Registered User
Join Date: Dec 2007
Posts: 85
11-07-2008, 07:10 PM
#38
Registered User
Join Date: Aug 2008
Location: North Carolina
Posts: 527
Come January 20th, whatever happens to GM, everyone should get their money out of the banks and hide it, since the government is coming after it anyway!
11-07-2008, 07:15 PM
#39
Registered User
Join Date: Mar 2008
Posts: 362
GMAC isn't lending because they are broke, but what a concept, only lending money
to people that are reliable. HMMM, maybe we wouldn't be in this mess if Fannie Mae and
Freddie Mac and the like had used the same discretion. All this wealth was a balloon waiting to pop. Millions of people into loans they should have never gotten. The banks
didn't care if it was risky and the customer should have known better.
to people that are reliable. HMMM, maybe we wouldn't be in this mess if Fannie Mae and
Freddie Mac and the like had used the same discretion. All this wealth was a balloon waiting to pop. Millions of people into loans they should have never gotten. The banks
didn't care if it was risky and the customer should have known better.
11-07-2008, 07:18 PM
#40
Registered User
Join Date: Dec 2007
Posts: 85
the name will not disappear..but how much value does the name chevrolet have any more..i would argue not much (it is what it is)....chi coms or koreans or tata from india will for sure be interested in buying the name....you be lucky to ever see the camaro with that sceniro and some time next month we are all going to find out if no bail out occurs.....if above does occur it really no biggie to the economy..236K jobs is all thats left at big 3 and the entire auto biz only accounts for .6% of gross domestic product...compared to leisure and health care auto manufacturing does not even rate
11-07-2008, 07:36 PM
#42
ALMIGHTY MEMBER
Join Date: Mar 2000
Location: Detroit, MI USA
Posts: 2,301
Wow -- so much misinformation in this thread that my head is spinning.
FIRST OF ALL - we have NOT asked for a BAILOUT -- we have requested low-interest loans. BIG DIFFERENCE..........
GM plans on paying every cent back -- with interest.
WHERE DO YOU COME UP WITH us losing over 12 billion a month?
FIRST OF ALL - we have NOT asked for a BAILOUT -- we have requested low-interest loans. BIG DIFFERENCE..........
GM plans on paying every cent back -- with interest.
no matter how they try to spin it the sold numbers for the camaro are not that great..but its no different for anybody else..if the trend continues GM will be cash broke come january 1, 2009.....they are losing over 12billion a month and only have 19billion on hand......camaro will go on until and during bankruptcy which GM needs to declare..GM has to get out from the agreements made 50 plus years ago....if camaro survives beyond that is anybodys guess
WHERE DO YOU COME UP WITH us losing over 12 billion a month?
11-07-2008, 07:50 PM
#43
Registered User
Join Date: Dec 2007
Posts: 85
2.36billion per month plus the additional 75million cash burn rate daily..its all over....those figures are right from the top dog CEO.....and i do like the fact the general is not looking for a bailout...but then why ask for an additional 25 billion on top of the 25 billion already given.....what are we missing?..i can read and add..and at that rate above with 16.2billion in cash reserve and a must have 11 to 14billion to sustain operation it looks like some time before christmas the general is gone....
..
ps..i frogged up on the 12 billion...call it too much beer (i dont drink)...shoulda been approximately 2.1billion per month...
..
ps..i frogged up on the 12 billion...call it too much beer (i dont drink)...shoulda been approximately 2.1billion per month...
Last edited by snooter; 11-07-2008 at 07:53 PM.
11-07-2008, 11:13 PM
#44
Registered User
Join Date: Jul 2007
Location: Tucson, AZ
Posts: 26
Is the sky falling............... again?
Guess it's time to shut down all the sites and stop posting. Return to your normal, drab lives.
The proof is in the words. As you all know... outsiders are always better informed than..... what's the point. Pack it in and call it a day people. /sarcasm off
Guess it's time to shut down all the sites and stop posting. Return to your normal, drab lives.
The proof is in the words. As you all know... outsiders are always better informed than..... what's the point. Pack it in and call it a day people. /sarcasm off
Last edited by Evotion; 11-07-2008 at 11:30 PM.
11-07-2008, 11:38 PM
#45
Registered User
Join Date: Apr 2007
Location: Macomb, MI
Posts: 259
2.36billion per month plus the additional 75million cash burn rate daily..its all over....those figures are right from the top dog CEO.....and i do like the fact the general is not looking for a bailout...but then why ask for an additional 25 billion on top of the 25 billion already given.....what are we missing?..i can read and add..and at that rate above with 16.2billion in cash reserve and a must have 11 to 14billion to sustain operation it looks like some time before christmas the general is gone....
..
ps..i frogged up on the 12 billion...call it too much beer (i dont drink)...shoulda been approximately 2.1billion per month...
..
ps..i frogged up on the 12 billion...call it too much beer (i dont drink)...shoulda been approximately 2.1billion per month...
CNBC aired the results of a nationwide poll today regarding "should the govt make the loans available to GM or not". 76% of the responders outside of the Detroit area said "no...let them go bankrupt". I assume most of them buy foreign cars huh? And of course, in the Detroit area the response was nearly the same percentage, but in favor of making the funds available.
The petro companies are also reducing the capacities of their refineries due to the falling demand for gasoline (ergo: we refine less so the price for the consumer goes back up again). This cheap gas we have now won't last for long, and the demand for the Volt and other hybrids will go back up again. Don't worry folks....its all in the cards being played at very expensive tables. GM will survive and Nancy Pelosi will get California milage and emission standards across the board as a part of the deal.
Do you really think the government would give up all the tax money they make on this industry?