|
|
|
|
|
|
|
|||||||
| Register | Home | Forum | Active Topics | eBay Marketplace | Media Gallery | Mark Forums Read |
 |
|
|
LinkBack | Thread Tools | Display Modes |
06-30-2009, 04:44 PM
|
#1 (permalink) |
|
3.0 Liter SIDI V6
Join Date: May 2008
Location: Grand Blanc, Michigan
Drives: 2006 Cadillac STS & 2008 Saturn Vue Red Line
Posts: 506
|
Henderson: GM faces July 10 liquidation if asset sale is denied
Tuesday, June 30, 2009
Henderson: GM faces July 10 liquidation if asset sale is denied Robert Snell / The Detroit News New York -- General Motors Corp. will face liquidation July 10 unless a federal bankruptcy judge approves the sale of the automaker's best assets to a new company, President and CEO Fritz Henderson testified today. The U.S. Treasury Department has told GM it will provide no additional financing if the assets are not sold by July 10, Henderson said during early testimony in U.S. Bankruptcy Court. If that deadline is missed, "we will liquidate," Henderson testified. link: http://www.detnews.com/article/20090...sale-is-denied
__________________
|
|
|
| Sponsored Links | |
Advertisement  |
|
|
06-30-2009, 08:41 PM
|
#2 (permalink) |
|
6.2 Liter LS9 Supercharged V8
Join Date: May 2005
Location: Banned
Posts: 5,185
|
GM faces Liquidation on July 10
Henderson: GM faces July 10 liquidation if asset sale is denied
 Robert Snell / The Detroit News New York -- The U.S. Treasury Department could stop financing General Motors Corp.'s restructuring if a sale of the automaker's best assets is not approved by July 10, a move that would trigger a liquidation of the company, President and CEO Fritz Henderson testified today in U.S. Bankruptcy Court. After a late court start, Henderson was questioned by attorneys representing GM creditors such as asbestos claimants and their families and dissident bondholders. Henderson also said that once a new GM emerges from bankruptcy court, the company will not change its operating name: It will still be called General Motors. Henderson's testimony could last several days. Motorists injured in crashes and accidents involving General Motors Corp. vehicles protested outside U.S. Bankruptcy Court this morning ahead of this key hearing in the automaker's bankruptcy case. The victims and their relatives, who have pending lawsuits against GM, likely will be left with no opportunity to collect damages if a judge, as expected, allows the automaker to sell its best assets to a government-sponsored company. The judge's approval could come this week. Article continues at link.... http://www.detnews.com/article/20090...sale+is+denied
__________________
A successful man is one who can lay a firm foundation with the bricks others have thrown at him. David Brinkley |
|
|
|
|
06-30-2009, 08:51 PM
|
#3 (permalink) |
|
6.0 Liter L76 V8
Join Date: Mar 2006
Location: SoCal
Posts: 2,007
|
Re: GM faces Liquidation on July 10
That's good for Pontiac fans.
__________________
He that displays too often his wife and his wallet is in danger of having both of them borrowed. Benjamin Franklin MOOLA! |
|
|
|
|
06-30-2009, 08:56 PM
|
#5 (permalink) | |
|
6.2 Liter LS9 Supercharged V8
Join Date: May 2005
Location: Banned
Posts: 5,185
|
Re: GM faces Liquidation on July 10
Quote:
__________________
A successful man is one who can lay a firm foundation with the bricks others have thrown at him. David Brinkley |
|
|
|
|
|
06-30-2009, 09:05 PM
|
#6 (permalink) |
|
7.0 Liter LS7 V8
Join Date: Aug 2007
Drives: The bailout pkg
Posts: 4,722
|
Re: GM faces Liquidation on July 10
Well, repost or not, we could use this another way.......... that's a good lookin' picture of that model roll out for sure.... car doesn't look bad either - I mean - er well, you know what I mean.
__________________
In regards to the VOLT With a typical annual driving pattern < totaling 11,390 miles - including three 450 mile trips and a bunch of 40 mile plus per days > and assuming you only charge <once > per overnight: Vehicle ……………… Gallons per year Volt ………………….. 37 Prius ………………… 228 30 MPG car ………… 380 20 MPG car ………… 570 Dave G. |
|
|
|
|
06-30-2009, 09:12 PM
|
#8 (permalink) | |
|
6.2 Liter LS9 Supercharged V8
Join Date: Jun 2006
Posts: 5,553
|
Re: GM faces Liquidation on July 10
Quote:
__________________
"But you are right, the Camaro gives the most bang for the buck" - Simon says "Despite all the hype surrounding Ford's new twin-turbo, all-wheel drive sport sedan, our long-term Pontiac G8 GT would put it on the trailer." - Edmunds 
|
|
|
|
|
06-30-2009, 09:14 PM
|
#9 (permalink) |
|
6.0 Liter L76 V8
Join Date: Mar 2006
Location: SoCal
Posts: 2,007
|
Re: GM faces Liquidation on July 10
Well this discussion is rolling now so keep this one.
__________________
He that displays too often his wife and his wallet is in danger of having both of them borrowed. Benjamin Franklin MOOLA! |
|
|
|
|
06-30-2009, 09:16 PM
|
#10 (permalink) | |
|
6.2 Liter LS9 Supercharged V8
Join Date: May 2005
Location: Banned
Posts: 5,185
|
Re: GM faces Liquidation on July 10
Quote:
 Why don't we give Vinsetta top billing and merge the threads?
__________________
A successful man is one who can lay a firm foundation with the bricks others have thrown at him. David Brinkley |
|
|
|
|
|
06-30-2009, 09:19 PM
|
#12 (permalink) |
|
6.2 Liter LS9 Supercharged V8
Join Date: May 2005
Location: Banned
Posts: 5,185
|
Re: GM faces Liquidation on July 10
 Yes, I would like to do some carefully orchestrated merging.
__________________
A successful man is one who can lay a firm foundation with the bricks others have thrown at him. David Brinkley |
|
|
|
|
06-30-2009, 09:24 PM
|
#13 (permalink) |
|
6.2 Liter LS9 Supercharged V8
Join Date: Jun 2006
Posts: 5,553
|
Re: GM faces Liquidation on July 10
__________________
"But you are right, the Camaro gives the most bang for the buck" - Simon says "Despite all the hype surrounding Ford's new twin-turbo, all-wheel drive sport sedan, our long-term Pontiac G8 GT would put it on the trailer." - Edmunds
|
|
|
|
|
06-30-2009, 09:30 PM
|
#14 (permalink) | |
|
7.0 Liter LS7 V8
Join Date: Aug 2007
Drives: The bailout pkg
Posts: 4,722
|
Re: GM faces Liquidation on July 10
I think you just made my day - I mean, found my new avatar - you youngin's...... that's definitely what is sometimes referred to in some circles as 'future ex wife material'.
Sigh, to be young again - Why at a time like this does that refrain run thru my head ..... " Oh by gosh and golly - its time for Mistletoe and Holly - " - and of course " - Chestnuts roasting by an open fire - " plane, you are the man. Quote:
__________________
In regards to the VOLT With a typical annual driving pattern < totaling 11,390 miles - including three 450 mile trips and a bunch of 40 mile plus per days > and assuming you only charge <once > per overnight: Vehicle ……………… Gallons per year Volt ………………….. 37 Prius ………………… 228 30 MPG car ………… 380 20 MPG car ………… 570 Dave G. Last edited by AMERICA 123 : 07-01-2009 at 03:39 AM. |
|
|
|
|
|
06-30-2009, 09:33 PM
|
#15 (permalink) | |
|
GMI Staff Member
 Join Date: Dec 2005
Location: NCR, Great White North
Posts: 5,309
|
Re: GM faces Liquidation on July 10
Quote:
I wonder what the likelihood of things not going as planned? I can't see it happening, but I do like the forthrightness of Henderson.
__________________
To appeal to enthusiasts GM needs to build on a flexible platform and be able to build small numbers and do it profitably. Hopefully we'll see some of that in the future with Alpha and Zeta, assuming the latter survives. |
|
|
|
|
| Sponsored Links | |
Advertisement |
|
|
|
| Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
| Thread Tools | |
| Display Modes | |
|
|
Linear Mode
