Judge Approves GM's 363 Sale

[vibecar]

Originally Posted by LeSabre

No. Chevrolet should stop selling pick up trucks & most SUV's. GMC will then be more viable this way by offering pick up trucks & SUVs & a CUV or 2.


!!!

I would have cut GMC.... I don't want to turn the topic into a "GMC should close" discussion, but since GMC stays in the new GM, Chevy should at least stop selling commercial trucks and leave that to GMC only (Professional Grade).

[rockyspaw]

Originally Posted by ChevyRules

I say we all put our money together and outbid the gov't.

Maaaa...why won't Uncle Bill return my calls!!!

[Vzzp0c]

Originally Posted by ChevyRules

I say we all put our money together and outbid the gov't.

I say we do not try to outbid the gouv. but try the market and by for about $500 of actual GM bound. Given that bound holder will have some equity in the new GM, maybe I can and-up wit one ore half of a share of the new GM and become one of the first owner. After that I laminate the paper certificate and I put it on my wall. Wat about being a real fan ???

Can anybody can help me to do so and indicate were can I go to invest in the actual GM bound???

[fp115]

Originally Posted by NfamousZ24

I have already lost $15k on GM...........Might as well risk the rest that I had for GM when new stock is issued. LOL

Thats nothing compared to many others. Try losing a few hundred thousand...

[PhishPhood]

Originally Posted by nsap

I know...my uncle works there in ATM development.

I sold them the steel for the ATMs, they and Diebold.

[paul8488]

Originally Posted by fp115

Thats nothing compared to many others. Try losing a few hundred thousand...

Oh well then I'm sure the guy feels much better about losing 15 grand now! He should darn near be thankful!

[LeSabre]

Originally Posted by vibecar

I would have cut GMC.... I don't want to turn the topic into a "GMC should close" discussion, but since GMC stays in the new GM, Chevy should at least stop selling commercial trucks and leave that to GMC only (Professional Grade).

I do agree w/you on this.


!!

[paul8488]

Again, 363 sale means what?

[srd275]

We will see. There is already an appeal on the Chrysler Bankruptcy to be heard on Friday by the Federal Appeals court by the Indiana Pension Fund.

I just don't think you can rewrite ownership rules from secured to unsecured like what is trying to be done.

I really feel that one if not both companies bankruptcies will be reviewed by the US Supreme Court.

Bankruptcy is a risky endevor, if these companies are worth more broken up, one of thoese secured creditors is going to push for it to happen.

[PontiacGMCNoB]

Originally Posted by paul8488

Again, 363 sale means what?

A "363" filing is where GM is allowed to transfer assets from its former self tio the New GM. It is called that as section 363 of the US Bankruptcy Code covers it. It is a provision that will allow GM to enmerge from chapter 11 quickly.

[61BelAir]

Is that a picture of a Malibu in the background behind Fritz or is that something else?

[gn4u2c]

Maybe toyota will just make a bid then off all the GM stuff. with the sales increase it would most likely pay off in 10 yrs or so

[fp115]

Originally Posted by gn4u2c

Maybe toyota will just make a bid then off all the GM stuff. with the sales increase it would most likely pay off in 10 yrs or so

Where exactly is Toyota going to get this money? They have enough problems on their own.

[paul8488]

Originally Posted by PontiacGMCNoB

A "363" filing is where GM is allowed to transfer assets from its former self tio the New GM. It is called that as section 363 of the US Bankruptcy Code covers it. It is a provision that will allow GM to enmerge from chapter 11 quickly.

Ah thanks! This stuff is all so complicated, to it's good to get some help with the names and acronyms!

[tbandrow]

Originally Posted by fp115

Where exactly is Toyota going to get this money? They have enough problems on their own.

They could take it out of their bank account and pay cash. Fifty straight years of profits gives you a tidy little nest egg. Toyota has problems, but, not problems like the USA makers.

I guess the question though, would really be, why does GM actually have that Toyota needs? Toyota won. GM lost.