[paddyk]

GM is exploring a potential sale of ACDelco, its aftermarket parts business, and has retained Merrill Lynch as an advisor, the beleaguered automaker said Wednesday. The move is a part of its effort to boost its liquidity by about $15 billion by the end of 2009, including securing $2 billion to $4 billion through asset sales. ACDelco is a part of GM service and parts operations and employs about 600 workers worldwide.


http://www.marketwatch.com/News/Story/Story.aspx?guid={FD142BB9-1A5E-462E-9D3F-33E2DF415080**&siteid=yhoof2

 

[ByTheLake]

Hmm. Would this proposed sale be a better arrangement than the Delphi spin-off was?

It's been a tough year for GM fans ... time once again to stick my head in the sand and read happynews.com.

 

[1G6]

I thought ACDelco was the outfit that was spun-off as Delphi, and existed soley as a brand name at this point.

 

[1G6]

I'll add that it would be sad to see Kettering's company/name, which was so key to GM's early dominance, reduced to scraps for the Chinese garbage that would surely be passed off under its name.

 

[Canyonaro]

I'll add that it would be sad to see Kettering's company/name, which was so key to GM's early dominance, reduced to scraps for the Chinese garbage that would surely be passed off under its name.

I agree, this is getting really hard to swallow.

 

[TriShield]

GM continues to flounder like a drowning person.

The Titanic is going down.

 

[johnnyl321]

GM continues to flounder like a drowning person.

The Titanic is going down.

I don't think GM would ever go away. Granted they won't be as big as they once were, at least not for a while, but I do believe they've got such a brand name recognition that they'll always have a market place in this world.

 

[genjy]

I didn't think GM could actually part with AC Delco... Where will GM and dealerships get their OEM parts from once it's sold?

 

[Highlander]

I thought ACDelco was the outfit that was spun-off as Delphi, and existed soley as a brand name at this point.

Right... The manufacturing side is Delphi, but GM maintained the ACDelco brand name and "retail" operations. If I'm not mistaken?

This is very sad though. And remember things like this too... Delphi doesn't even manufacure most of it's own product anymore which go to GM and ACDelco. For example, Delco batteries are now Johnson Controls garbage. I've always spent a bit extra for Delco batteries because I've had examples last over 11 years! And the one Johnson control battery I bought split open after about 2 years! I miss the days of looking at a GM vehicle and knowing it was a GM vehicle... Not an assembly of this guys that, and another guys other item... It was GM parts bumper to bumper!

 

[johnny smallblock]

GM just doesn't have any more money. They will sell anything they can to make till 2010, when the UAW savings kick in and when they have a lot of good product coming out.

Basically everything will be sold to help them keep their heads above water for 2 years.

 

[nadepalma]

There was some more on it from LeftLaneNews as well:

http://www.leftlanenews.com/gm-closer-to-acdelco-sale.html

 

[WishIhadatruck]

Isn't ACDelco just a brand name and a parts distribution network for GM parts? I guess they sell parts for other makes as well. How much could they really get for it? Who'd want it?

 

[TriShield]

I don't think GM would ever go away. Granted they won't be as big as they once were, at least not for a while, but I do believe they've got such a brand name recognition that they'll always have a market place in this world.

Everyone thought the same of all these financial institutions.

Look what happened. This is just the latest deck chair GM is throwing into their cash burn fire. They're going to run out.

 

[TriShield]

GM just doesn't have any more money. They will sell anything they can to make till 2010, when the UAW savings kick in and when they have a lot of good product coming out.

Basically everything will be sold to help them keep their heads above water for 2 years.

Wow, what a great plan. There isn't anything that will go wrong with that.

 

[FoMoCo Fan]

I don't think GM would ever go away. Granted they won't be as big as they once were, at least not for a while, but I do believe they've got such a brand name recognition that they'll always have a market place in this world.

Johnny - GM is in real danger of running out of cash within the first part of 2009. Literally.

 

[squat]

I suppose they're doing this because they can't sell hummer, and when that failed they can't get their hands on chrysler's money (that merger being shot down is a good thing though, if it really is shot down). So now they have to look at things that are valuable at a time like this and sell them off.

Maybe they should also look at selling of buick and saturn, maybe pontiac too...

 

[Chaz_23]

Watch it get purchased by Honeywell and ACDelco replaced by Fram.

 

[1G6]

I assume that the "Genuine GM Parts" would be marketed under the Goodwrench brand if ACDelco is sold.

 

[skylark68]

Strange times...

I wonder what my No. 1218 oil filter for a 350 will be badged as if AC Delco is sold...?

 

[Orbit]

Next stop: Bankruptcy or dissolution of GMAC...