GM filling for chapter 11 on monday

[Rider]

Originally Posted by bmblebee

How will they be cranking out cars next year when people don't/won't buy their cars today? The bailout of GM was strictly to prop up the UAW. The best and brightest engineers and designers will bolt from GM before the dust settles...

Why don't people want to buy their cars? There are a shit load of people in MI that are very loyal to GM and will not ever drive any other brand. Now I know that the MI population alone wont keep them in business, but there are lots of loyal customers through out the entire country. They will do a large scale back, sell off the majority of the ownership, and they will close thousands of dealerships, but at the end of all the restructuring, GM will still be operating selling cars to the public.

[Fleck750]

Originally Posted by Rider

Why don't people want to buy their cars? There are a shit load of people in MI that are very loyal to GM and will not ever drive any other brand. Now I know that the MI population alone wont keep them in business, but there are lots of loyal customers through out the entire country. They will do a large scale back, sell off the majority of the ownership, and they will close thousands of dealerships, but at the end of all the restructuring, GM will still be operating selling cars to the public.

And we won't go into how fanatical Ganders are about Ford................

[Rider]

Originally Posted by Fleck750

And we won't go into how fanatical Ganders are about Ford................

Yeah my next door neighbor is like that. Of course he has family that works for Ford but he always has 2 fords in his garage.

Even my next door neighbor on the other side of me is just as fanatical about Jeep. He and his wife won't drive anything else.

I'm not brand loyal at all. I buy what suits my needs at the time although I don't think I will ever own a Chrysler product again.

[Fleck750]

We have the Chevy vs Ford thing going on in our house. We both own old POS, so whoevers vehicle is running gets to gloat.

[Homeslice]

So I know GM and Chrysler are going to get de-listed from the Dow, but is there still an opportunity to buy stock? Or do people have to wait until a "new" entity and ticker symbol are created?

[Rider]

Originally Posted by Homeslice

So I know GM and Chrysler are going to get de-listed from the Dow, but is there still an opportunity to buy stock? Or do people have to wait until a "new" entity and ticker symbol are created?

Not in GM, you'd be better off the wait and buy stock in the new parent company or companies.

[HRCNICK11]

So now that we own GM do we get company cars?

[fasternyou929]

Originally Posted by Homeslice

So I know GM and Chrysler are going to get de-listed from the Dow, but is there still an opportunity to buy stock? Or do people have to wait until a "new" entity and ticker symbol are created?

The new owners have sent out tender requests to people that already own the stock. If you don't already have it, I'd avoid it like the plague, as it's likely to head to $0 at a high rate of speed.

[Homeslice]

Originally Posted by fasternyou929

The new owners have sent out tender requests to people that already own the stock. If you don't already have it, I'd avoid it like the plague, as it's likely to head to $0 at a high rate of speed.

right but I meant the "new" company, whatever it's going to be called. Would it be launched as an IPO, or who would get access to the shares?

[101lifts2]

I have 100 GM stock options.