Heaven Forbid: A Corvette from Toyota? - Autoblog

[MonaroSS]

Originally Posted by BigAls87Z28

Give me 5 reasons why I shouldnt ban you right now Monaro?

Well I can give 1 reason. I have been contacting Obama's transition team, and various US senators and congressman and the US Treasury and various political economic advisors with both encouragement to save GM as well as suggestions of how to potentially get around some legislative difficulties, and I'm an Aussie.

How many GMI members have been doing the same thing I wonder? Even called your local senator?

The question of what happens to Corvette and how it may be at the mercy of Toyota is an analogy of the current position of the entire GM Corporation and it's entire 100-year history. In case some of you have not yet woken up to the fact, what the Senate votes in the next few days could seal GM's fate forever. Why?

There are laws about bankruptcy that Wagoner MUST follow or go to prison. When GM can no longer reasonably expect to be able to pay it's creditors then it MUST declare at least Chapter 11 bankruptcy. No if's, no buts, no delays. It happens in a matter of moments, and it's irreversible. GM will never come out of Chapter 11, car sales will plummet. It will go directly in short order to Chapter 7 and be broken up and sold off to the highest bidders piece by piece to pay creditors. Nobody, not even the government, can save it then.

GM does not have enough cash to get to inauguration date. It does not have cash to get to Christmas. It is already now into the grey area of where it perhaps should declare bankruptcy today, and Wagoners lawyers have probably advised him that only his being able to claim a genuine belief that the Congress will vote for a financial relief package this week gives him legal cover from the criminal culpability of forming the intent to breach the law by allowing GM to keep trading while irreversibly insolvent. The moment the Congress votes down the relief package he will no longer have legal cover and I expect a filing within hours.

Will Congress vote down the package? I believe that the Democrats do not have the numbers to stop a filibuster in the Senate and its opponents will defeat it. All those who have said they will support it have put caveats on their support that are at odds with each other and not reconcilable. Until they try to come up with a compromise you will not truly see how many people had little intention of supporting the package.

This is not politics as usual and they somehow magically come together and pass it at the last moment. The Republican Party seriously wants the unions destroyed and this they have realised is the first chance they have had in 30 years to do it. And having lost both houses and the Presidency, it's simply too inviting for them not to savour this rare victory for their cause....

How many of you are trying to save GM?

[fp115]

Uh me.

[redfox]

I would rather see Corvette die than go to Toyota.

[BigAls87Z28]

Originally Posted by wescoent

Relax. It's just a "What If?" scenario, in the quite realistic event GM goes into Chapter 7. Is it an unpleasant possibility? Sure. But you should be angrier with GM management getting into this spot than you ought to be with MonaroSS for talking about it.

How is the Toyota-ized Corvette, which is basically a rebadge of GM's pride and joy, ANY different from THIS, which is a Chevy rebadge of Toyota's pride and joy?



AND as a final point, because I'm so irked at even the suggestion of banning someone for this, I'll bring up this possibility. I wonder what your reaction would be if Ford went into Chapter 7, GM bought the tooling and rights for the Mustang, and turned it into a Chevy.

Ban for you too...

Im not really going to ban Monaro for his little photoshop, but geeze man...Chevy Mustang? Thats at least an infraction!!

No doubt am I angry about GM's current position due to the fact that they now are laying in the bed they made.
But I am also looking at the other side, that this is this is a major decline in America. In the people, and what this will do to our country.

Reminds me of Ghostbusters, when the EPA, ConEd and NYPD show up at thier door to turn off the grid. It will unleash these demons throughout America, the end of a large manufacturing for America. The total loss of jobs across the board will be massive.

Originally Posted by MonaroSS

Will Congress vote down the package? I believe that the Democrats do not have the numbers to stop a filibuster in the Senate and its opponents will defeat it. All those who have said they will support it have put caveats on their support that are at odds with each other and not reconcilable. Until they try to come up with a compromise you will not truly see how many people had little intention of supporting the package.

This is not politics as usual and they somehow magically come together and pass it at the last moment. The Republican Party seriously wants the unions destroyed and this they have realised is the first chance they have had in 30 years to do it. And having lost both houses and the Presidency, it's simply too inviting for them not to savour this rare victory for their cause....

This is a good point. With the south as a whole not supporting the bail out of the Northern Domestic auto makers due to the fact that the Imports are a growing part of the south's economy, and most being republican controled states, it doesnt surprise me.
But I have a feeling that could be viewed as an anti-American act, by letter some 2 million people lose thier jobs just because the Republicans are upset they lost thier power.

[ChevroletTough]

sweet jesus. remove that emblem from the vette! that's like slapping God in the face. Let the vette RIP if need be. I'd rather see it retired then put in the hands of a company that would ruin it, and is the enemy.

Seriously....

[ksr]

If there is a chapter 7 liquidation of GM, I think you might see Chevrolet being bought as a whole, including Corvette. Perhaps another auto company, perhaps a group of investors.

Chevrolet is GM's most valuable property. Huge name recognition, loyal customers. I think it would be a very desirable acquisition. There's always going to be a need for trucks and family cars, and having a halo like the Corvette doesn't hurt. After chapter 7, it might be free to operate without the UAW.

The same would probably happen to Cadillac and it could operate as a division of an existing company or standalone. It may not be big enough to operate by itself though. Chevy could survive as an independent company.

GM's other brand names would probably be sold off to bidders, but if you ever see cars bearing those names again, they'd likely have little in common with the current-day models.

[ksr]

If it's not a Chevy, I'd rather see the Corvette die.

[New_Mexico_Sunset_on_Rt66]

Totally sucks to even consider Corvette being built by anyone else!

But even if GM does file for bankruptcy, won't they just re-structure? They'll still be building cars, but some judge will cut the company up.

[ksr]

In Chapter 11 bankrupty, GM would continue operating and would work out a restructuring plan with the courts. That requires financing, which will be very difficult to get now.

That might force Chapter 7, which is shutdown and liquidation.

[Firebird00]

The Corvette and Toyota will never merge. They are polar opposites and Toyota wouldn't be able to give them away. If GM ceased to exist, I think SLP, Callaway, or maybe even Hennessey would buy the Corvette rights.

Personally, if lights out at GM becomes reality then I'd rather see the Corvette get buried next to the Firebird in that big auto graveyard.

[Mr. Burns]

Originally Posted by tholland

Please take that thing off the vette's nose!

haha agreed!

[EldoFan]

Originally Posted by Firebird00

The Corvette and Toyota will never merge. They are polar opposites and Toyota wouldn't be able to give them away. If GM ceased to exist, I think SLP, Callaway, or maybe even Hennessey would buy the Corvette rights.

Personally, if lights out at GM becomes reality then I'd rather see the Corvette get buried next to the Firebird in that big auto graveyard.

Amen to that

[1931Chevy]

thats just sacrilegious, I would prefer to let the corvette die before wearing a toyota badge

[jmlee0695]

you should be shot for this!

[Olds88]

If it must come to someone else having the Corvette... Ford. At least it'd still be American.