GM going BK opinions?

Fiveofeen · January 28, 2009

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.

Holy smokes! I just found this thread doing a search.... kinda eery how on point my prediction was... although the writing was on the wall.

TTS · January 28, 2009

Good job Larry..... You posses an extrordinary knack for expressing the painfully obvious.... :thumb :gasp

Fiveofeen · January 28, 2009

Good job Larry..... You posses an extrordinary knack for expressing the painfully obvious....

I know! I still gotta toot my horn though. Hate being right on this one though, hope they pull through.

TTS · January 28, 2009

TINTZEUS · January 28, 2009

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.

Holy smokes! I just found this thread doing a search.... kinda eery how on point my prediction was... although the writing was on the wall.

yea, you are right....where do you keep your crystal ball......... :lol ................. :spit

I had no idea GM was in such bad shape. FIAT just bought 35% of em. Thats crazy. Alot of people in the car industry dont like to show thier belly...until its too late.... :lol6

How so SOCAL treating you Larry. Hope all is well.

:spit

TintJunkie · January 28, 2009

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.

Holy smokes! I just found this thread doing a search.... kinda eery how on point my prediction was... although the writing was on the wall.

yea, you are right....where do you keep your crystal ball......... .................

I had no idea GM was in such bad shape. FIAT just bought 35% of em. Thats crazy. Alot of people in the car industry dont like to show thier belly...until its too late....

How so SOCAL treating you Larry. Hope all is well.

FIAT

Fix It Again Tony

Graviteesfx · January 28, 2009

We just had a GM dealership close down here in town. One of my bigger accounts.

February 1, 2009

I had no idea GM was in such bad shape.

:rollin there's a surprise :bingo

TINT · February 2, 2009

dealerships have been closing left and right in our town. a big accessory shop closed down before christmas, everything is hitting down hard.

February 4, 2009

I would love to see them bk this is the reason , if you have a vechile financed with them and run into financial trouble get behind a couple of payments and call them to ask for help they will say NO, all they want is their money, I was oposed to them getting a bailout for the reason that in order to get hlp you must give help. They pay these outragous salaries, millions of dollars a year for these big wigs to do what? run a company in the ground and make tax paying citizens use their money to bail them out while the same ones who got them there in the first place stay in charge and collect their huge salaries? PASS I hope nothing but the worst for them