GM going back into bankruptcty?????

danderson · 12-11-2012, 01:36 PM

Have read a few articles about the judge from GM's bankruptcy being upset with GM and how they did some "backroom" dealings during the process of going from "old GM" to "new GM". Funny thing is that this has not been in the mainstream media AT ALL. Wonder if Obama has anything to do with keeping it out of the news.......

http://www.istockanalyst.com/finance...tcy-this-week#

XDCX · 12-12-2012, 08:44 AM

Thanks for the link - that was interesting.

Like the analysts who expressed their opinion in the report, I highly doubt the Judge will force GM back into bankruptcy but he's clearly angered by the way GM and their attorneys kept the issue of the payment to the Hedge Funds silent.

It's also interesting that GM's CFO is on record that the lawsuit may force GM to take a $918 Million charge. That's big money - even for GM.

I was never a fan on the "quick-rinse" bankruptcy concept for GM and Chrysler and in my opinion the report you posted shows another example of why it wasn't the correct course of action.

12-11-2012, 01:36 PM	#1
danderson Member Join Date: Oct 2008 Posts: 53	GM going back into bankruptcty????? Have read a few articles about the judge from GM's bankruptcy being upset with GM and how they did some "backroom" dealings during the process of going from "old GM" to "new GM". Funny thing is that this has not been in the mainstream media AT ALL. Wonder if Obama has anything to do with keeping it out of the news....... http://www.istockanalyst.com/finance...tcy-this-week#

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Back In The Saddle Again	Jeff Duvall	Sales	12	08-28-2011 05:31 PM
It's back... Chrysler brings back the "Minivan Pledge"	XDCX	Sales	3	04-13-2011 01:32 PM
Plymouth is back?	chrysler_lives	Sales	2	03-02-2010 07:41 PM
Back to F&I	F&I Pro	Automotive Discussions	4	08-31-2009 12:57 PM

Welcome to DealershipForum.com

Click Here to Register Now

12-12-2012, 08:44 AM	#2
XDCX Administrator Join Date: Nov 2007 Posts: 14,869	Thanks for the link - that was interesting. Like the analysts who expressed their opinion in the report, I highly doubt the Judge will force GM back into bankruptcy but he's clearly angered by the way GM and their attorneys kept the issue of the payment to the Hedge Funds silent. It's also interesting that GM's CFO is on record that the lawsuit may force GM to take a $918 Million charge. That's big money - even for GM. I was never a fan on the "quick-rinse" bankruptcy concept for GM and Chrysler and in my opinion the report you posted shows another example of why it wasn't the correct course of action.