Jump to content

GM going BK opinions?

Fiveofeen

Recommended Posts

Fiveofeen

Fiveofeen

Posted
Posted

They just posted a 15 BILLION dollar loss for the 2nd quarter, 9B of that was a one time restructing cost. They had 24B to play with at the start of the year. I'm betting they go BK before the end of the year. A few good friends own GM dealerships around the state and they are shitting themselves right now. Just wondering if anyone else is preparing for this, I'm gettin out of the tint biz in the next few weeks due to hiring into a company thats automotive related but not in any way involved with GM. Its going to be an interesting second half of the year.

I've got money on Hummer being sold, same with Saturn and SAAB, maybe even Buick too. I know of several dealers who were not performing well and they have lost their franchsies (Cadillac, Chevy) and they are being given to another successful dealer so that he carries all brands GM offers. Also as cause he just invested 4m into a Hummer building that is useless now.

%&$# is hitting the fan.

Link to comment
Share on other sites
  • Replies 59
  • Created
  • Last Reply
Fiveofeen

Fiveofeen

Posted
  • Author
Posted
A few good friends own GM dealerships around the state and they are shitting themselves right now.

Like who ...what dealers?

Not really sure why that is important. I wont be releasing their names but they are successful multi franchise owners who sit on several boards for GM. This is in Michigan.

The dealer who lost their brand was not in Michigan. That one is in California.

Link to comment
Share on other sites
TINTZEUS

TINTZEUS

Posted
Posted
Not really sure why that is important. I wont be releasing their names but they are successful multi franchise owners

Then why say it.... :twocents My family owns several dealerships........and I dont see anyone wearing a diaper................ :dunno

Link to comment
Share on other sites
Guest Crackz

Guest Crackz

Posted
Posted

yeah but up here in ny they are trying to dump truck loads of suvs at the dealers and they are refusing them...and no more smart buy or leasing ...gm is screwed ps check the stocks on gm :twocents:dunno:lol2 :lol2

Link to comment
Share on other sites
Guest CajunTinter

Guest CajunTinter

Posted
Posted
Not really sure why that is important. I wont be releasing their names but they are successful multi franchise owners

Then why say it.... :twocents My family owns several dealerships........and I dont see anyone wearing a diaper................ :dunno

no need to bust 5-0's ballz.... he doesn't own a GM dealership.... :lol2 :lol2

Link to comment
Share on other sites
TINTZEUS

TINTZEUS

Posted
Posted
yeah but up here in ny they are trying to dump truck loads of suvs at the dealers and they are refusing them...and no more smart buy or leasing

GM does not just drop off SUV's....The dealer has a market and orders to fill.......The dealer paid or has an order or market for everything on the lot.

:twocents

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing
×
×
  • Create New...