BYE BYE Pontiac
#1
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#5
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Razz: who is going to service your G8?
#9
May Cause Anal Leakage
Join Date: Oct 2004
Location: Orlando & Chicago
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#10
Out of NYC
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if they do 1/2 price. I will "seriously" consider getting one
http://www.dailytech.com/article.aspx?newsid=14961
Wow, even after bankruptcy ?
yeah ahh uh, they dont do **** at all and they still getting paid. Wow. even after the company gone bankrupt ? gg man
http://www.dailytech.com/article.aspx?newsid=14961
Wow, even after bankruptcy ?
The government has reached a deal with the U.A.W., whose members’ pensions and retiree health care benefits would be protected under the bankruptcy filing, as well. This clears the way for such a filing.
Last edited by nycgps; 04-24-2009 at 11:36 PM.
#11
It's a Cavalier
Well, adios Pontiac. Don't the let the door hit ya on the ***. Wow. The car world isn't going to look the same after Monday.
#12
Super Moderator
Yeah, this does not go well for my states car industry where the Pontiac G8 is made....General Motors Holden at Elizabeth, they have already cut back to 2 shifts about 8 months ago, and recently cut out the night shift, who now "Double UP" during the day shift, but only work 4 days a week and workers have had a 25-30% (I think) reduction in pay.
Holden's are trying not to lay off workers as they are supposed to be tooling up for a new FWD 4 cylinder car ...either called a Torana or the New Astra, my guess is the all new Opel Astra.
You have to remember Holden's relies on exports of the Pontiac and Chevrolet Statesman Caprice to the Middle East and Korea, it is something like 85% of their business...
The VE Commodore is not selling very well at all in Australia.
This news is VERY Bad for Holdens...
So I hope GM renames the G8 to a Chevrolet or Buick ? even?
Holden's are trying not to lay off workers as they are supposed to be tooling up for a new FWD 4 cylinder car ...either called a Torana or the New Astra, my guess is the all new Opel Astra.
You have to remember Holden's relies on exports of the Pontiac and Chevrolet Statesman Caprice to the Middle East and Korea, it is something like 85% of their business...
The VE Commodore is not selling very well at all in Australia.
This news is VERY Bad for Holdens...
So I hope GM renames the G8 to a Chevrolet or Buick ? even?
#13
It's a Cavalier
Yeah, this does not go well for my states car industry where the Pontiac G8 is made....General Motors Holden at Elizabeth, they have already cut back to 2 shifts about 8 months ago, and recently cut out the night shift, who now "Double UP" during the day shift, but only work 4 days a week and workers have had a 25-30% (I think) reduction in pay.
Holden's are trying not to lay off workers as they are supposed to be tooling up for a new FWD 4 cylinder car ...either called a Torana or the New Astra, my guess is the all new Opel Astra.
You have to remember Holden's relies on exports of the Pontiac and Chevrolet Statesman Caprice to the Middle East and Korea, it is something like 85% of their business...
The VE Commodore is not selling very well at all in Australia.
This news is VERY Bad for Holdens...
So I hope GM renames the G8 to a Chevrolet or Buick ? even?
Holden's are trying not to lay off workers as they are supposed to be tooling up for a new FWD 4 cylinder car ...either called a Torana or the New Astra, my guess is the all new Opel Astra.
You have to remember Holden's relies on exports of the Pontiac and Chevrolet Statesman Caprice to the Middle East and Korea, it is something like 85% of their business...
The VE Commodore is not selling very well at all in Australia.
This news is VERY Bad for Holdens...
So I hope GM renames the G8 to a Chevrolet or Buick ? even?
I hate to hear to that. I hope things work out and we continue to get Holdens here. I'm disgusted by the fact that you could take a nicely designed and executed car, slap an Arrow Head symbol and nostrils on it, and watch it fail because of the "damaged brand" and stigma that goes along with Pontiac.
At least you can be sure it wasn't Holden's fault. Stupid GM. I don't think Holden should be building FWD cars. I thought it was smart to have them be the hub of designing RWD platforms.
Why isn't the Commodore selling better over there?
#15
Super Moderator
I hate to hear to that. I hope things work out and we continue to get Holdens here. I'm disgusted by the fact that you could take a nicely designed and executed car, slap an Arrow Head symbol and nostrils on it, and watch it fail because of the "damaged brand" and stigma that goes along with Pontiac.
At least you can be sure it wasn't Holden's fault. Stupid GM. I don't think Holden should be building FWD cars. I thought it was smart to have them be the hub of designing RWD platforms.
Why isn't the Commodore selling better over there?
At least you can be sure it wasn't Holden's fault. Stupid GM. I don't think Holden should be building FWD cars. I thought it was smart to have them be the hub of designing RWD platforms.
Why isn't the Commodore selling better over there?
You guys in the US are lucky, we like most other countries are still paying WAY too much for GAS, because of our currency. We lost 30% of our dollar because of the "GFC".
Australia had a booming economy for 17 years straight, we still are not officially in recession, but will be from 1st May.
We are still paying $1.17 a litre or $4.68 a Gallon Australian, or $3.40 US.
Would you be happy paying $3.40 US a gallon right now?.
It cost's me $71.00 AU ($51.00 US) to fill my RX-8.
#16
Super Moderator
BTW, The greedy oil companies here also...based on the Oil Barrel price we should be paying about 90c a litre!
#17
Out of NYC
iTrader: (1)
It is selling (to the State/Fed Government departments), private buyers have slowed dramatically....because I believe the price of Gas, Petrol, Fuel.
You guys in the US are lucky, we like most other countries are still paying WAY too much for GAS, because of our currency. We lost 30% of our dollar because of the "GFC".
Australia had a booming economy for 17 years straight, we still are not officially in recession, but will be from 1st May.
We are still paying $1.17 a litre or $4.68 a Gallon Australian, or $3.40 US.
Would you be happy paying $3.40 US a gallon right now?.
It cost's me $71.00 AU ($51.00 US) to fill my RX-8.
You guys in the US are lucky, we like most other countries are still paying WAY too much for GAS, because of our currency. We lost 30% of our dollar because of the "GFC".
Australia had a booming economy for 17 years straight, we still are not officially in recession, but will be from 1st May.
We are still paying $1.17 a litre or $4.68 a Gallon Australian, or $3.40 US.
Would you be happy paying $3.40 US a gallon right now?.
It cost's me $71.00 AU ($51.00 US) to fill my RX-8.
The max I paid to fill up my was around ... 58 bux -_-, that was last july when it was the highest.
#18
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lol. Here in Canada I remember paying 60$ for a full tank in my 45litre (10-11gallon) tank. It was at 1.35$ and I nearly ran out of fuel. You guys should be lucky you arent living in Canada,especially in Montreal where we have the highest tax -.-
#21
Super Moderator
Just to give you an Idea as to the breakdown of Taxes in every litre of gas/petrol sold here in Australia..
A Litre Retails for $1.17 AUD
$0.38.5 Cents per litre goes in Federal Excise (Tax)
$0.12.0 Cents per litre goes to State Gov GST (or VAT at 10%)
Total Tax $0.50.5 Cents per litre.
The remaining $0.66.5 Cents per litre is then split between the Gas Station owners which are mostly now owned by the oil companies themselves BP, Shell, Mobil, Caltex...or the, Transport Tanker Companies and or the Oil Companies.
We have a few Independently Owned Gas Stations (about 15%)
A Litre Retails for $1.17 AUD
$0.38.5 Cents per litre goes in Federal Excise (Tax)
$0.12.0 Cents per litre goes to State Gov GST (or VAT at 10%)
Total Tax $0.50.5 Cents per litre.
The remaining $0.66.5 Cents per litre is then split between the Gas Station owners which are mostly now owned by the oil companies themselves BP, Shell, Mobil, Caltex...or the, Transport Tanker Companies and or the Oil Companies.
We have a few Independently Owned Gas Stations (about 15%)
#22
Super Moderator
Premium Unleaded (95 Ron) is about 11 cents more, so I pay $1.28 to $1.30 a Litre, that is where the $71.00 AUD a Tank comes from.
#23
Out of NYC
iTrader: (1)
Even now, gas aint that cheap IMO, fuxking 2.49 for Premium. rip off (Regular cost between 2.15 - 2.19)
#25
Administrator
http://www.nytimes.com/2009/04/28/bu...tml?ref=global
officially official today
and Saturn will become whatever its going to be by the end of this year- the consensus is that dealers will by it and use it to sell cars from brands not currently in the states. Sort of like a Target for cars. One or 2 from Opel maybe something from Geely or Chery something from Seat maybe even a Fiat or 2. Who knows maybe even Peugeot and Renault.
I think once you down size GM and Chrysler goes away, Mazda's market share might finally climb above 5% Its still about 3 right now.
officially official today
General Motors said on Monday that it needed $11.6 billion more in government loans and that it planned to file for bankruptcy protection if a debt exchange with its bondholders was unsuccessful.
Skip to next paragraph
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Fabrizio Costantini for The New York Times
Fritz Henderson, chief executive of General Motors, at a press conference on Monday at GM world headquarters in Detroit.
G.M. also said that, by 2010, it would phase out its Pontiac brand, eliminate 42 percent of its dealers, close 13 plants and cut 21,000 hourly jobs as part of its revised restructuring plan.
“We need to have a more stable and sustainable business model, because, candidly, we only want to do this once,” G.M.’s chief executive, Fritz Henderson, said at a news conference. “We don’t think that what’s being asked of us is too hard. Our objective here is to create a strategy where we can win, not simply survive.”
G.M. shares rose 25 percent in morning trading on the New York Stock Exchange after the plan was announced.
The cuts outlined on Monday are considerably greater and scheduled to occur sooner than G.M. had outlined in its February restructuring plan. The plan would result in the federal government becoming G.M.’s majority owner.
Since December, G.M. has borrowed $15.4 billion to keep it out of bankruptcy while it tries to restructure. The new request would bring that figure to $27 billion. The company originally said it needed between $22.5 billion and $30 billion to remain solvent.
In the plans announced on Monday, G.M. wants to persuade 2,641 of its 6,246 independently owned dealerships — 500 more than it previously announced — to close four years sooner than it had intended.
By the end of next year, it plans to employ 40,000 hourly workers at 34 plants, down from 61,000 workers at 47 plants. That is at least 7,000 more job cuts and one more plant closure than the February plan called for. An additional 2,000 jobs would be cut in 2011.
G.M. said the additional actions would allow it to break even at industry sales volumes as low as 10 million a year. Sales this year are expected to be slightly higher than that figure.
In addition, the company said it would give bondholders 225 shares, worth $414 as of Friday, for every $1,000 that they hold.
It urged the bondholders, who hold more than $27 billion in G.M. debt, to accept the deal to allow a faster out-of-court restructuring and said their bonds could be worth less or nothing in a bankruptcy filing.
G.M. said the holders of at least 90 percent of its outstanding bonds must agree to the swap by May 26 for the company to avoid bankruptcy.
“We do not intend to seek relief under the U.S. Bankruptcy Code if the exchange offers are consummated,” G.M. said in a regulatory filing.
By exchanging stock for its bonds and by converting its debt to the Treasury Department and to a retiree health care fund for the United Automobile Workers union, G.M. said it can eliminate $44 billion in debt. The Treasury and the U.A.W. would own up to 89 percent of the company’s outstanding shares, while bondholders would hold no more than 10 percent and current shareholders would hold 1 percent.
The Treasury would own more than half of G.M. on its own and therefore have control over the election of its board and other matters requiring the approval of shareholders.
In a bankruptcy, G.M. said it might separate itself into two companies: a new G.M. composed of desirable assets like the Chevrolet and Cadillac brands, and a collection of its unwanted assets that would then be liquidated.
G.M. has been negotiating with an ad-hoc committee representing large bondholders, but the two sides have been unable to reach a deal. The bondholders committee says G.M. has not been responsive to its requests in more than a month.
The Obama administration’s autos task force gave the automaker until June 1 to develop a more aggressive turnaround plan and to reach deals with its bondholders and the United Automobile Workers union. Talks with the U.A.W., which announced a cost-cutting deal with Chrysler on Sunday, are continuing.
Skip to next paragraph
Enlarge This Image
Fabrizio Costantini for The New York Times
Fritz Henderson, chief executive of General Motors, at a press conference on Monday at GM world headquarters in Detroit.
G.M. also said that, by 2010, it would phase out its Pontiac brand, eliminate 42 percent of its dealers, close 13 plants and cut 21,000 hourly jobs as part of its revised restructuring plan.
“We need to have a more stable and sustainable business model, because, candidly, we only want to do this once,” G.M.’s chief executive, Fritz Henderson, said at a news conference. “We don’t think that what’s being asked of us is too hard. Our objective here is to create a strategy where we can win, not simply survive.”
G.M. shares rose 25 percent in morning trading on the New York Stock Exchange after the plan was announced.
The cuts outlined on Monday are considerably greater and scheduled to occur sooner than G.M. had outlined in its February restructuring plan. The plan would result in the federal government becoming G.M.’s majority owner.
Since December, G.M. has borrowed $15.4 billion to keep it out of bankruptcy while it tries to restructure. The new request would bring that figure to $27 billion. The company originally said it needed between $22.5 billion and $30 billion to remain solvent.
In the plans announced on Monday, G.M. wants to persuade 2,641 of its 6,246 independently owned dealerships — 500 more than it previously announced — to close four years sooner than it had intended.
By the end of next year, it plans to employ 40,000 hourly workers at 34 plants, down from 61,000 workers at 47 plants. That is at least 7,000 more job cuts and one more plant closure than the February plan called for. An additional 2,000 jobs would be cut in 2011.
G.M. said the additional actions would allow it to break even at industry sales volumes as low as 10 million a year. Sales this year are expected to be slightly higher than that figure.
In addition, the company said it would give bondholders 225 shares, worth $414 as of Friday, for every $1,000 that they hold.
It urged the bondholders, who hold more than $27 billion in G.M. debt, to accept the deal to allow a faster out-of-court restructuring and said their bonds could be worth less or nothing in a bankruptcy filing.
G.M. said the holders of at least 90 percent of its outstanding bonds must agree to the swap by May 26 for the company to avoid bankruptcy.
“We do not intend to seek relief under the U.S. Bankruptcy Code if the exchange offers are consummated,” G.M. said in a regulatory filing.
By exchanging stock for its bonds and by converting its debt to the Treasury Department and to a retiree health care fund for the United Automobile Workers union, G.M. said it can eliminate $44 billion in debt. The Treasury and the U.A.W. would own up to 89 percent of the company’s outstanding shares, while bondholders would hold no more than 10 percent and current shareholders would hold 1 percent.
The Treasury would own more than half of G.M. on its own and therefore have control over the election of its board and other matters requiring the approval of shareholders.
In a bankruptcy, G.M. said it might separate itself into two companies: a new G.M. composed of desirable assets like the Chevrolet and Cadillac brands, and a collection of its unwanted assets that would then be liquidated.
G.M. has been negotiating with an ad-hoc committee representing large bondholders, but the two sides have been unable to reach a deal. The bondholders committee says G.M. has not been responsive to its requests in more than a month.
The Obama administration’s autos task force gave the automaker until June 1 to develop a more aggressive turnaround plan and to reach deals with its bondholders and the United Automobile Workers union. Talks with the U.A.W., which announced a cost-cutting deal with Chrysler on Sunday, are continuing.
I think once you down size GM and Chrysler goes away, Mazda's market share might finally climb above 5% Its still about 3 right now.