ForYourMalice

You were so very wrong. To quote somebody who put it simply..

"This is not something that can go on and be dealt with in the next year, it needs to be dealt with in the next few weeks," said Cole. "When your cash is gone, you're gone."

http://money.cnn.com/2008/11/07/news/companies/gm/index.htm?postversion=2008110711

I give it a 70-30 shot that GM will live to get our cars out.. call it "doom and gloom" or whatever you want. I am a realist, and it is not looking good at all.

8Banger

Hey, you ordered the exact same car as me. Man, I hope we get um. I'm sure
congress is going to send a huge cash infusion GM's way. Hell, everyone else is getting
bailed out.

97QuasarBlue3.8

It is uncertain whether or not you will live to see the first 5th Gen Camaro roll off the assembly line in 3-ish months. Nothing is a given. You can choose to be optimistic or pessimistic regarding the situation.

It appears as if GM is taking things one day at a time. We have to have faith that there is very REAL value left in the company and that someone will step forward with the means to keep operations going.

ForYourMalice

Nice taste, I hope so too.. but I cannot support a bailout for GM. The bailouts that have happened so far infuriate me to the point of a stroke, and this country cannot tolerate anymore of this horseh*t corporate socialism. Congress and the Fed are destroying the dollar with the infusion of all the artificial money they are pumping into these companies, to the point of where we might as well start stuffing our wallets with Monopoly money because the dollar will be all but worthless. And yet, failed investment banks are going to be giving BONUSES to these greedy execs, funded by the bailout money. The apathy of the people in this country is pathetic.. people riot in Brazil over a soccer game, and here we are, letting our government pound us in the a$$ while we all watch "Dancing With the Stars". We should all be on the front steps of the captial with shotguns. So, if GM has to be a first casualty of the free market - it shall be. It will **** me off that I won't get my car, but this garbage must stop.

2010_5thgen

the camaro is not going to be cancelled. it is going to come out so stop worrying. damn its the negative people in this economy that make everything shakey. everyone gets scared and pulls out of stock and banks and then thats when things take a fall. just chill out things are going to be fine.

97QuasarBlue3.8

At the same time though, I don't think the problem can be ignored. When Mervyns (a HUGE chain of clothing stores) went under here on the West Coast and Texas, it came down to them running out of cash. They were already on cash-only terms with their suppliers, and when Mervyns had no more cash, their suppliers cut them off and literally repo'd everything that was being leased or hadn't been paid for.

In the same light, if GM can't write checks to General Tire, or to Visteon, or whomever is supplying big components for their vehicles, those suppliers can and will cut them off.

billyboyf

I'm sorry to make this my first post. I just ordered a black 1ss two days ago. Here is a quote from a GM financial report made earlier today:
The company also said it will slow down assembly line rates at North American factories beginning next year, but it gave no details. It also said several vehicle new vehicle programs would be delayed, but it would spend more on its Chevrolet Volt electric car and other fuel-efficiency programs.
It doesn't look too good.

ForYourMalice

Exactly. This is not a matter of fear ruling the market or speculation, this is a very cut and dry matter of them running out of cash. No cash = game over. Period.

8Banger

Hey, I'm totally with you. This whole idea of bailouts is a very complicated
matter. On the one hand they say if we don't do it, the economy will totally collapse, on the other hand this is tax payer money going for all this and putting us deeper and deeper into debt. While the GM problem is not as systemic as the bank fiasco's, it is a significant problem. I don't know what the answer is. Maybe, let the chips fall where they may.

Dragoneye

The true free market died long ago...failing to realize this has put our country at a severe disadvantage in the global marketplace. We're clinging to this idea that everyone else will play 'fair' and be nice members of a bigger economy, so that everything will work as it should. And this has nothing to do with the auto industry, either: if we as a country are to survive, then we need to compete, and by not supporting our companies (I'm not advocating for free cash) we are effectively not supporting ourselves. I support capitalism, as it's the best form of economics out there; but a true "free market" doesn't exist anymore. If GM goes down completely then we are, royally and effectively...screwed. Try stabbing a bleeding man, see what happens.

fwiw, these "bailouts" are not free money that the government is throwing into the wind. It's not pleasant (nor likely), but if all goes according to plan, that 700 billion will come back. The pocket-padding that certain execs are doing is deplorable...something I hope they rot for. But likewise, assistance for the automakers would not come in the form of free, gifted money: they're called loans because GM, Ford, and Chrysler would have to pay them back. Why are you against loaning them money to survive a market-meltdown.

detroitboy

I'm confident our coupes will be made....but I have my doubts that the convertible will ever be built.

2010_5thgen

well if they cut off the camaro, then there is nothign that will save them. they already made it clear that the camaro along with a few other cars are the cars that are going to save the franchise. there is no backing out now concidering that everything is in line and all of the millions of dollars already spent on this car. its too close to back out and there is too much invested to put this car on hold.
im sorry its just not going to happen.

2010_5thgen

sorry never heard of MERVYNS. chevy will not be stuck with all these parts and components that they have already purchased and dies they have made just because someone wants money up front. if thats the case then there are many many more manufacturers out there. and deals are made a long time in advance, way before they start making a product they negotiate how paying terms are and shipping, and all the other things that come with buying from suppliers. dont worry about them. they know alot more about whats goign on than whoever you hear these stories from.

FAD1

I heard on CNBC that the Camaro and the Volt are secure. After those, its pretty uncertain. The government has to step and it will. I hope everything turns out good. I want to see GM live for another 100+ years

2010_5thgen

if gm goes under, get your money out of the banks and hide it, because this country will fall with gm. thats why no one cares about how terrible ford is doing now. gm is the ones who help carry this country.