wildpaws

Here are the main points of GM's restructuring plan taken from their press release, it is available at many sources including GM's own site, Cheers and Gears, Autoblog, etc.
Clyde

"Filed under: Government/Legal, GM

GM asks Congress to kickstart its heart with ambitious plan
by John Neff on Dec 2nd 2008 at 4:29PM

General Motors has just revealed the plan it has submitted to Congress today, and the details show just how far the largest U.S. automaker is willing to go in order to secure bridge loans from the federal government. The plan includes selling Saab, possibly killing Saturn and scaling back Pontiac, as well as reducing dealers and shedding more workers, among other things. Here's the breakdown...


Focus on "core brands": Chevrolet, Buick, GMC and Cadillac
Launch predominately high mileage, energy-efficient cars and crossovers
Sell Saab, HUMMER
Sell or kill Saturn
Reduce Pontiac to a "niche" brand
Trim dealerships from 6,450 to 4,700
Reopen talks with UAW to cut manufacturing costs further
Reduce total workforce from 96,000 to 65-75,000
Negotiate with lenders, remove $35.6 billion in debt
To do all this, GM is asking for a total of $18 billion in loans, which is considerably more than the $10-12 billion that CEO Rick Wagoner requested in front of Congress a few weeks ago. It needs $12 billion in loans by the end of next March to make it through the rest of 2009 and another $6 billion in revolving credit if conditions don't begin to improve by then. The troubled automaker also states that it needs $4 billion by the end of this month to continue operating and intends to start repaying the loans by 2011.

In exchange for government loans, GM is also open to a government oversight board that would monitor how the money is used, as well as giving taxpayers a stake in the company. Also, not only would Rick Wagoner get his salary dropped to $1, a number of other unnamed senior execs would get pay cuts, too.

Is it all enough? Sound off in the comments after reading the official press release from GM after the jump.

[Source: GM, Automotive News - sub. req'd]"

christianjax

While I'd love to see a Firebird again, I don't think THAT car is the answer. I love Firebirds (and will be trading in my Trans Am for the new Camaro) But that car in the picture looks like a Mullet is standard NOT optional.

Tsujin

Wow, I didn't know about Saturn....If Pontiac is becoming a 'niche' brand, and they are thinking that the one/two cars it will still have are the G6 and G8, does that mean no more Pontiac Solstice or Saturn Sky? I like those cars...Even though I could never fit in one, they are still nice to look at.

2010_5thgen

well hopefully instead of just killing all these brands , they can sell them and the cars can live on and do someone else some good. id hate to see them kill pontiac , saab and expecially hummer. saturn , i could really care less. i never really like that brand. nothing has appealed to me except the sky.

Silver2009

My bet is an all performance approach like Lutz has been preaching for years. Soltice, G8, G8ST, Firebird? It could happen if the Camaro became a smash hit. GM would be trying to figure out how to sell more, and if a Firebird version would do it........

FenwickHockey65

Pontiac's on its way to become a performance niche brand, possibly with only one or two "specialty" cars. Seeing as how those "specialty" cars will most likely end up being the G8 and Solstice, I doubt we'll be seeing a Firebird anytime soon.

But hey, if GM starts making money again...you never know...

1fastdog

I believe that a 300+HP Solstice coupe' would be a competitive player in it's segment. It's time to ratchet up the capabilities of the EcoTec 4. Engineering costs for the engine offer could be shared by Chevy through a Malibu SS with a similar engine. MPG and performance would make them attractive to buyers, IMO.

FenwickHockey65

So I heard a rumor that there actually is a split-grilled Pontiac version of the Camaro sitting in a warehouse somewhere...supposedly just in case Oshawa's production capabilities aren't completely used up.

boxerperson

I heard the government is working on a quick reproducing variant of the Tyrannosaurus Rex to help with the population troubles in Africa. I think the project might be on hold till they figure out how to get them to run on fuel cells. Word is they're keeping it in a zoo somewhere and telling everybody it's just an Emu with cancer.

2SSRS

This is some more pics from of Kevin Morgan Designs,










I like this Trans am's

MasterZ28

Awh the one in the mag doesn't look too appealing.

95GRNZ

I have yet to see a good looking photochop of the Camaro depicting a possible new Firebird/TransAm.

Nightshade

The Firebird/Trans Am will probably never see the light of day ever again, which saddens me. If I had the money and both Camaro and Firebird were coming out, the Firebird is much better in the area of nostalgia, which also attributes to how hot the car looks. (Opinions, mind you) But yeah GM has to be in amazingly better economic shape before we could even entertain the thought of another V8 powered masterpiece.

As stated before, it's fun to dream..

1fastdog

YoungCompton

Heres 2 more concept pix i found they look ok i like them mostly because its not just a camaro with firebird emblems