GM's looming bankruptcy

May 29, 2009
Back to TopCommentsE-mailPrintBookmark and Share
So, three decades of decline has come to this for General Motors: a Chapter 11 bankruptcy petition expected to be filed Monday.

Lots of problems contributed to its downfall, but now the carmaker faces an extremely steep climb.

The bankruptcy will winnow its model line to vehicles consumers like best, but that doesnâ??t mean consumers will buy the cars. The brands might be suffering from fatal damage, particularly in such influential markets as California and much of the East Coast.

Do you believe GM will make it? Or is bankruptcy the next-to-last nail in its coffin?
ADVERTISEMENT
  • I think they will make it. They make a very good car, just to many makes and models. It should be Cadillac, Chevy, and Saturn and that should be all of the makes. Each line should feature about 5-7 models. Cadillac should lose the SUVS and focus on cars. Saturn could be the economy line with Chevy having a economy model as well. Trucks and SUVS should be under the Chevy brand. This is my non-expert opinon however. By the way, if GM is looking to move from Detroit, Indy should try to lure them downtown. The unions here are very weak. Probably a plus for them.
  • I don't believe GM or Chrysler will make it over the long term. I think the way the bankruptcies are being handled by the Federal Government will alienate a large percentage of future car buyers and their future sales will decline even more.
  • Know how many car companies were around when the Big 3 formed? 90 years ago there were close to 1000 car companies.
    Take the money we're using to bail and set up a fund for emerging companies with technologies that help with performance, mileage etc.

    GM and Chrysler won't and shouldn't keep going, they pooped in their own nest a long time ago with bloated managment and arrogance.
    It's going to be painful and tough but after the internet bubble burst we've seen wonders and breakthroughs we couldn't imagine.
  • I'm with Kris. For one thing, many of the smaller suppliers who worked with GM and Chrysler are currently and will continue to be closing due to the lack of business. Needless to say, the lack of material can only serve to drive up prices.

    This in turn, will have a negative effect on Ford, who like Chrysler and GM is saddled with union issues, pension issues, etc..

    I think what we will see is a long-term flight to similarly priced, but higher quality, foreign autos.

Post a comment to this blog

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

ADVERTISEMENT