If GM folds what happens to all the cars that need to be serviced?
Will they liquidate?
Will I be able to buy a Vett cheap?
What about a new Camaro?

 

Don't worry, GM's not gonna "fold". The worst case scenario is that the General will file for chapter 11.

Same applies to Ford.

 

...which also will not be allowed to occur.

 

Chapter 11 will still destroy the auto companies, or at best they will come back a fraction of the current size. While in bankruptcy, expect sales to be next to zero, which means THOUSANDS of dealers go under.

As for the OP question, service won't be a problem, there will always be aftermarket service, and there will be suppliers for parts.

 

Acutally many suppliers would immediately fold under any Ch.11 filling, which is why a failure of GM would affect not only them, but every other manufacturer in the States.

 

No one knows what would happen if GM or Ford declared bankruptcy. If GM sales are down on a per store basis why aren't the dealers throwing in the towel?? Answer, the franchises are still profitable selling service and used vehicles, and this would continue for years while GM emerged from bankruptcy and got back on its feet. That is far preferable than turning them over to the US Gov't and the Greenies who want to remake the US car industry into their image of what cars should be; small, light, cheap, green, and with all the personality of a tree hugging Environmentalist. And somehow we are supposed to believe that the US car industry really needs to survive. GM will get bailed out and the US taxpayer will perpetually own this turkey of an industry. You think GM cars are crappy now, wait a few years and see what kind of stuff is foisted on the American public.

 

So can anyone explain how GM shows profits in oversease markets, yet needs my money to bail out thier losses in the US ? The auto manufactures are not being held accountable for the poor bussiness choices they made.
Why is no one discussing the deal GM has with the UAW?( If a GM plant is to close , under contract, they will still need to pay 97.5% of the employee wages.) How is this a sound bussiness choice? (Who makes that deal?) That means that if GM does not sell any cars, it still needs to pay almost the full cost for that manufacturing facility. GM and Chryler both need to be left to clean up their mess. What ever happened to survival of the fittest? And the 25 bil. they are asking for will only take the big 3 to 2010 as long as the economy does not worsen. They came up with the figure of 25 bil. based on the state of the economy at the end of 2008 hoping that things will not stay this bad...what if they do? They have no plan in place past 2010. How can you ask for 25 billion dollars if you don't have more then a 1 yr. plan, based on a maybe, such as todays economy?

 

in the spirit of capitalism i ask,
why not?

 

It's actually $25 Billion

 

I just watched the heads of the big 3 on c-span for something like 3 hours...
Unbelievable how these guys are not being held accountable for a poor, or in some case no, bussiness plan. It's no wonder our Gov. is facing the greatest financial dept ever if these are the bussinesses we choose to lend to.

 

LOL...Nice catch...it's all the same from where I sit...

 

No problem

$25 Million doesn't even cover the bonuses for one company's execs

 

One of the senators asking questions to the VP's mentioned the bail out of chrysler back in the early 80's when the head of Chrysler commented that he would take a $1 pay check until the company turned a profit...When the senator asked the heads of GM, Chrsyler & Ford if they would back their plans with the same agreement, they all smiled and talked right around the question. It was insane. These guys are just asking for a hand out.

 

lulz doesn't supplies me one bit