Roh96 6th Gear November 12, 2008 Share November 12, 2008 Wonder what will happen if GM go bust. What will happen to Chevy and Saab and how it is going to affect the owners here? ↡ Advertisement Link to post Share on other sites More sharing options...
Seaweed 1st Gear November 12, 2008 Share November 12, 2008 a national pride don't go burst that easily...and if it do...you will see many others follow.... then become one brand for all.... Link to post Share on other sites More sharing options...
Donut Supercharged November 12, 2008 Share November 12, 2008 GM wont go bust one.... US govt will definitely save it.... its their pride of American cars... die die also wont let GM fail. u dun worry abt our cars here.... US is even more worried coz they got millions of Chevy car owners there.... Spore market is peanuts........ Link to post Share on other sites More sharing options...
Silver_blade Turbocharged November 12, 2008 Share November 12, 2008 1st I don't think the US will allow that to happen. In some way, it's more important than AIG. But if that do happen...I think the profitable units eg. GM Europe, GMDAT, etc will be sold. Link to post Share on other sites More sharing options...
Newbie_driver Neutral Newbie November 12, 2008 Share November 12, 2008 now is the best time for the US coy to threaten the US gahmen with bankruptcy threat and squeeze money from the gahmen. after that use the money for entertainment... . guess they are also using this strategy. Link to post Share on other sites More sharing options...
Eyke Supercharged November 12, 2008 Share November 12, 2008 millions will lose their jobs, then can't pay their house payments, then house get foreclosed, more homeless, impact economy negatively. business-wise, any valuable bits of GM will be sold off. Obama wants to save GM so it won't die so fast, but it's a bottomless pit, so will die eventually unless there's a drastic change. Link to post Share on other sites More sharing options...
Silver_blade Turbocharged November 12, 2008 Share November 12, 2008 I was thinking now would be a good time to revisit GM(US) worker's package again. This time, 'force' the workers to accept one which is more of a win-win situation for both. It's the worker's package that is mainly the cause of GM's downfall. Link to post Share on other sites More sharing options...
Davidklt Supercharged November 12, 2008 Share November 12, 2008 you sure or not. look at the British car industry. Even Royce is not in British hands. Link to post Share on other sites More sharing options...
Mizarahi Clutched November 13, 2008 Share November 13, 2008 Like you said, it's a bottomless pit, unless drastic change. Drastic change = cut staff, be more efficient, more productive to compete with Toyotas and Hondas. So back to square one, people lose jobs, can't pay loans, ....... Link to post Share on other sites More sharing options...
Zanter 3rd Gear November 13, 2008 Share November 13, 2008 GM wont go bust one.... US govt will definitely save it.... its their pride of American cars... die die also wont let GM fail. u dun worry abt our cars here.... US is even more worried coz they got millions of Chevy car owners there.... Spore market is peanuts........ The problem is that the US govt also running out of credit to save everyone. Note I mention credit cos they dont have cash. They have been borrowing & borrowing, and their creditors Asia & China are getting increasingly nervous about financing their huge deficits. This really cannot go on & on . When this bubble burst God help us all! Link to post Share on other sites More sharing options...
Nlatio Turbocharged November 13, 2008 Share November 13, 2008 Wonder what will happen if GM go bust. What will happen to Chevy and Saab and how it is going to affect the owners here? First look at the title... hmmmm if GM fail.... AGM take over lor.... ...... Anyway, likem any bro here pointed out.... just like AIG.... they too big to fail..... somemore a pride of the US of A.......... so the US Zhen Hoo or Barack Omama won't let it fail....... else very lose face......... just step into White Palace.... already one big boy down the drain........ Link to post Share on other sites More sharing options...
Sabian Turbocharged November 13, 2008 Share November 13, 2008 run out of money? they just print more US $$ note think the USD strength is temporary with all the USD flooding the mkt. wait for the dust to settle. Link to post Share on other sites More sharing options...
Zanter 3rd Gear November 13, 2008 Share November 13, 2008 Looks like they no choice but to print more but to threaten their reserve currency status is v v dangerous. Link to post Share on other sites More sharing options...
Modykoh 1st Gear November 13, 2008 Share November 13, 2008 GM all along is facing financial problems...every time kana bill out. Link to post Share on other sites More sharing options...
Silver_blade Turbocharged November 15, 2008 Share November 15, 2008 Looks like GM (US) virus has spread to GM Europe. Since GM US is not getting any help from the US gov at the moment....think they are going to other gov for help. I hope the guaranteed loan can only be use within Europe and not to be transferred to The US. I feel it would be better to have someone buy over profit making GM Europe. The europe unit have been 'feeding' the US HQ for a while. ------------------------------------------------------------------------------------------ Opel asks for German public loan guarantee BERLIN : German carmaker Opel, a unit of troubled US giant General Motors, said on Friday it has asked Berlin and regional states for credit guarantees to ensure its financing. The request follows a GM announcement that, in the wake of global market turmoil and the crisis in the US automobile sector, it would be seeking help in countries where it has major operations. European data on Friday showed a plunge in new car sales in October. "The aim of the current discussions is to make preparations for guaranteeing further loans because the global financial situation of our parent company General Motors has worsened," supervisory board chairman Klaus Franz said in a statement, echoing comments earlier by company chief Hans Demant to the business daily Handelsblatt. "We want to ensure Opel's future in Europe but also jobs, which is why we have the full support of our employees." The statement said that Opel had spoken with the German federal government as well as the states where the company has plants -- Hesse, North Rhine-Westphalia, Rhineland-Palatinate and Thuringia -- about loan guarantees. "They would be necessary if the economic situation at GM worsened with direct consequences for the core business activities of Adam Opel GmbH," it said. An economy ministry spokesman said it would wait to see a specific figure from Opel on the amount it was seeking in guarantees and then talk with representatives from the local states. Opel said loan guarantees, if needed, would cover investment in product development and assembly plants at sites in Germany "and under no circumstances outside Europe". It said the conditions for the load guarantees were being hammered out with experts from the German government and the states affected. Handelsblatt reported that Hesse, home to the business capital Frankfurt, was willing to guarantee loans of up to 500 million euros (633 million dollars) for Opel. A local government spokesman declined to comment. Last month, GM said that effects of the international financial crisis and economic slowdown had led it to interrupt production at two German plants that employ more than 6,500 people. Opel said on Monday it had asked Chancellor Angela Merkel to help Germany's ailing auto sector with measures including tax incentives for new car purchases, the establishment of low-cost consumer loans and a bonus for taking cars more than 10 years old off the road. The maker of the Astra and Corsa models is also seeking a pan-European plan worth 40 billion euros to provide low-cost loans from the European Investment Bank. Members of Merkel's governing coalition agreed this week to scrap the tax on new cars bought in the first half of 2009, with cars that emit fewer greenhouse gases exempt for up to two years. But Opel, which has been hit by the economic slowdown and has had to scale back production due to slipping demand, has said the move favours makers of larger cars such as Daimler or BMW. Berlin has also earmarked 400 billion euros in credit guarantees but the funds are reserved for banks in a bid to restore confidence in lending. General Motors, meanwhile, is threatened by a looming liquidity crisis and has also asked the US government for aid. - AFP /ls Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 15, 2008 Share November 15, 2008 actually if any global MNC fails ... the effect will be bad ... not just GM ... see what the impact when lehman bros went bankrupt ... ↡ Advertisement Link to post Share on other sites More sharing options...
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