**GM preparing for bankruptcy**

[Buntz]

Dear oh dear GM. Can't you see that people still don't want that rubbish your fleecing.

[Resurrection]

http://www.zerohedge.com/news/2012-1...l-stuffing-wtf

[Buntz]

Originally Posted by Resurrection

http://www.zerohedge.com/news/2012-1...l-stuffing-wtf

Somethings gotta give. What happens when they can't move them and another stuffing is on the way?

What's old is new again... ay GM?

[MethodX]

Originally Posted by Buntz

Somethings gotta give. What happens when they can't move them and another stuffing is on the way?

What's old is new again... ay GM?

Why cant you pick on the real evil, the japs instead?

[burnz]

that zerohedge web page is the TT/ACA by the looks of it.

in fact every web page on that site is doom and gloom.

[Nikked]

Originally Posted by MethodX

Why cant you pick on the real evil, the japs instead?

Because this is a discussion about General Motors...

[Buntz]

GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.

The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.

That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

Idiots. Stop making more than you can sell. Or do.. I don't care.

[Bossxr8]

They came out saying they wouldn't offer incentives just to move vehicles, and now sales have slumped so they just continue pumping them out just for the sake of keeping the line running.

Good 'ole GM. Let's wait for Bankruptcy MkII.

[Resurrection]

Originally Posted by burnz

that zerohedge web page is the TT/ACA by the looks of it.

in fact every web page on that site is doom and gloom.

You are so far from the truth it is not funny. ZH has been reporting GM's action for many months and only today we see the MSM catch on.

[Keepleft]

Originally Posted by burnz

that zerohedge web page is the TT/ACA by the looks of it.

in fact every web page on that site is doom and gloom.

Most of those websites are simply reflecting the reality, particularly in the US, of that countries economy, and its ongoing growing domestic angst.

Gloomy? Sure, but one cannot be delighted with what the US and indeed the globe faces with the economy. The response then is to observe it all, hope much of the predictions don't end up ringing true, otherwise folk best prepare and be rid of personal debt and store stuff.....

Mainstream media of course will always report that 'things are fantastic', just as they did in 2008, etc. What we are seeing in Greece (a slow painful death. A spain etc), could well end up being the US, and others, and we wouldn't escape scott free either; I'd predict damn near zero dollars for certain pensions, IF we face a fiat currency reset as some suggest.

Of late, some financial folk predict global economic gloom starting in Japan circa April 2013, in regards hyperinflation I think they said.

More gloom for you:-) Somewhere near might be reality...
http://theeconomiccollapseblog.com/

http://www.shtfplan.com/

Mass fatality planning:-
http://www.govtrack.us/congress/bills/112/hr6566/text

Such cheer, such joy:-)

[V8UTE]

This looks serious http://freebeacon.com/bailout-on-the-brink/

[Keepleft]

Originally Posted by V8UTE

This looks serious http://freebeacon.com/bailout-on-the-brink/

Yes, most serious potential. That said, if it is to be then it is to be - at law.

Interesting.......

You might then extrapolate 'potential' as to other taxpayer funded bailouts of private co's.

Sometimes companies are meant to fail.

[Jason[98.EL]]

Originally Posted by V8UTE

This looks serious http://freebeacon.com/bailout-on-the-brink/

what would that mean to gmh as it could create world wide issues for gm ???

not a good thing for gm world wide in my books

[Bossxr8]

What are the chances of the government working behind the scenes to get an outcome they desire? Put pressure on the judge?

[Resurrection]

Originally Posted by Bossxr8

What are the chances of the government working behind the scenes to get an outcome they desire? Put pressure on the judge?

The chances are very high.

[Resurrection]

Update on GM stock situation

http://www.zerohedge.com/news/2013-0...d-highest-ever

[galaxy xr8]

As much as I hate what has happened today with the announcement but I guess that bank CEO I mentioned back on page 14 post 412 was right after all.

[Syndrome]

GM Auto Inventory Hits 10 Year High: Most Since November 2007, One Month Before The Recession Started

http://tinyurl.com/ly6ecre

[Trump]

If the US new car market keeps shrinking the way it has been over the past few months, GM will be going back to govco hat in hand. I'm not sure they'll get a handout this time around...

[Pepscobra]

How are the other car makers fairing?
It can't just be GM feeling it?

[290v]

what is going to happen to the Elizabeth employees redundancy's and the cost of the site clean up

[rjk74]

http://jalopnik.com/loan-crazy-autom...nan-1792605641
The yanks are hopless, you would think that they would've learnt a lesson from the last recession (subprime house loans).

[Bossxr8]

Originally Posted by Pepscobra

How are the other car makers fairing?
It can't just be GM feeling it?

Market has levelled out but Ford were expecting that and adjusted accordingly. No issue for them. Record sales couldn't go on forever and they knew that.

[Bossxr8]

Originally Posted by 290v

what is going to happen to the Elizabeth employees redundancy's and the cost of the site clean up

Nothings changed.

[Sprintey]

I think it was 935,000 cars on the lots for GM. Even though the US is a much bigger country with a greater volume of commerce, that amount is staggering. Cycle is about to end, everywhere at once it seems. Fun times.

[Fordman1]

Typical GM, overproduce and try to move excess stock.

Stay tuned, they will be in big trouble in the US soon - fools.

[Windsor220]

They dont seem to have any long term planning at all. Would make good politicians.