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Car Forum / Chevrolet / Chevrolet Corvette / July 2009Important Question
What happens to GM Reproduction parts as part of the GM Banruptcy? > What happens to GM Reproduction parts as part of the GM Banruptcy? I think they continue unimpeded - as part of the "Good GM" that's already OUT of bankruptcy. -W >What happens to GM Reproduction parts as part of the GM Banruptcy? Nothing, unless it is one of the brands they are killing. Even then the inventory is large enough to last years. The aren't going out of business, just screwing investors & creditors out of money.  Signature"Everything in excess! To enjoy the flavor of life, take big bites. Moderation is for monks." Most repro Corvette parts are brought to you by GM Repro parts. This could be serious... >>What happens to GM Reproduction parts as part of the GM Banruptcy? >> [quoted text clipped - 3 lines] > The aren't going out of business, just screwing investors & creditors > out of money. It's SOP that in a BK common shareholders get wiped out. Even preferred shareholders usually get nothing; once in a while they get tossed a bone. Bondholders usually get something on the dollar, but nobody gets made whole. This thing has all the appearance of a cramdown, but a lengthy stay in BK isn't workable with GM. You can argue liquidation is better, but I don't think any other company or private investment group would have bought it at almost any price. I believe Penske has a good deal though. Certainly not risk-free, but he's a smart guy. AJM '93 40th Anniversary coupe, 6 sp (both tops) " believe Penske has a good deal though. Certainly not risk-free, but he's a smart guy." Smart guys have egos. He dumped California Speedway in Fontana years ago at a very nice profit because he anticipated the lack of growth in motorsports out here. I really wonder how he intends to run Saturn because he seems to be lacking some abilities that GM had. I guess he is going to outsource the mfg of the car. I do not know about new design. I can't believe we will see the same model cars for years to come. Vito >>>What happens to GM Reproduction parts as part of the GM Banruptcy? >>> [quoted text clipped - 17 lines] > AJM > '93 40th Anniversary coupe, 6 sp (both tops) |
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