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post #1 of 11 (permalink) Old 07-10-2009, 12:03 PM Thread Starter
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New GM Emerges from Bankruptcy


Today the sun rose on a New General Motors, a move which will also see the sun set on a lot of people's careers. GM emerged from bankruptcy protection at 6:30 a.m. Eastern Time with news of a serious corporate restructuring plan that will take effect over the next few months.

Due to leadership (and in some cases arm-twisting) by the Obama Administration, the new GM, headed by CEO Fritz Henderson, is poised to return to its once-great status after shedding its debt and healthcare obligations by a massive $48 billion. Much of this comes as the UAW made serious concessions in accepting a new contract with the automaker. GM also hopes to significantly reduce its cash-burn after eliminating a third of it's dealership network. Additionally, the automaker looks to profit from the sale of the Saturn, Saab and Hummer brands, as well as through selling-off much of its stake in its European operations, including Opel to Canadian autoparts manufacturer Magna International.

"Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers," CEO Fritz Henderson said in a statement.

Henderson's plan will see 6,000 (or 20 percent of) white-collar employees loose their jobs by October, with 35 percent of all executives being dismissed. Many executives will be cut from the company's old Automotive Strategy Board and Automotive Product Board, a complex, multi-tiered system of management which will be axed in favor of a small committee that will meet weekly to make decisions about the future of the company.

Henderson says the move will cut those making the decisions at GM in half as the automaker focuses on its four key brands - Chevrolet, Buick, GMC and Cadillac.

Sales and Marketing will also no longer be under the leadership of one individual, as that part of the company is split. Sales will report directly to Henderson, who was unclear about what that meant for the current Sales & Marketing boss, Mark LaNeve. GM will also bring back veteran Bob Lutz to manage marketing, as well as design, brands and communications.

This will be a particularly vital role as GM looks to introduce a new line of vehicles into the marketplace to help re-brand the company. In total 10 new vehicles will launch in the U.S. in the next 18 months, with 17 overseas.

More: New GM Emerges from Bankruptcy on AutoGuide.com
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post #2 of 11 (permalink) Old 07-10-2009, 12:55 PM
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WOW, This is the only good news i have heard affter loosing my shares of GM, BOB LUTZ IS BACK!!! GM IS ON THE RIGHT TRACK AGAIN!

John and Stacey Precour
First Yellow in Texas
VIN # 2158
Black interior all options except XM
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post #3 of 11 (permalink) Old 07-10-2009, 01:00 PM
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Very Interesting........
"GM will also bring back veteran Bob Lutz to manage marketing, as well as design, brands and communications."

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post #4 of 11 (permalink) Old 07-10-2009, 01:36 PM
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Good Move Fritz!!

I think that's a great plan. Having worked for GM for almost 23 years, I can tell you first hand that the adage too many cooks spoil the broth was alive and well at the old GM. Reducing the levels of "cooks" will enable GM to run lean and mean! Bringing Lutz back will also help matters!

Oh, and my personal thanks to Fritz for taking care of my Sky! More on this in another post...
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post #5 of 11 (permalink) Old 07-13-2009, 09:35 AM
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So does this mean we no longer take our Skys to the old Saturn Dealers for Warrenty work?

I got this letter this morning


Quote:
Today we are pleased to announce there is a new GM. Please take note that General Motors Corporation, Saturn LLC, and Saturn Distribution Corporation sold a substantial amount of their assets to a new legal entity, General Motors Company ("GM" or "New GM"). This email is being sent by New GM on behalf of both General Motors Corporation and New GM.

We want to keep you informed about updates that are happening at GM. General Motors Corporation, Saturn LLC, and Saturn Distribution Corporation are transferring your personal information (e.g., your contact information and vehicle purchase history) to General Motors Company. General Motors Company has substantially the same privacy policies in place as General Motors Corporation had. If you do not want to receive marketing messages from GM, call 1-866-MY-PRIVACY (1-866-697-7482) or visit our Consumer Preference System website at gmcontactpreferences.com. To review the New GM Privacy Statement, click here.

We would like to remind you that dealers of GM vehicles will continue to service GM vehicles and honor GM vehicle warranties.

The New GM is positioned for a profitable, self-sustaining and competitive future. What's more, the New GM has several new products and technologies on track to debut, including key vehicle launches in 2009 and 2010. GM has a strong commitment to improving the fuel efficiency of its vehicle fleet, meeting or exceeding new federal fuel economy and emissions regulations, and pushing ahead with advanced propulsion technology. This is highlighted by GM's extended range electric vehicle, to be introduced in 2010. GM also expects to have 14 hybrid models in production by 2012.

If you happen to be in the market for a new vehicle, check out all the great savings on GM's current portfolio of award-winning vehicles. Shop GM Summer Savings, currently online at GM.com/summersavings.

Tim
Johnson City, Tenessee
Former proud owner of 2 Skys 2007 and 2008
NOW a Proud owner of a 2012 Chevy Camaro!
But I still love Skys!
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post #6 of 11 (permalink) Old 07-13-2009, 10:06 AM
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Originally Posted by SkyMan 08 View Post
So does this mean we no longer take our Skys to the old Saturn Dealers for Warrenty work?

I got this letter this morning
From what I read in the letter, it sounds like right now the Saturn dealership network (i.e. Saturn Distribution Corporation) have been transfered to the "New GM." So for now you should be good continuing to have your car serviced at your Saturn Dealerships.

Quote:
Please take note that General Motors Corporation, Saturn LLC, and Saturn Distribution Corporation sold a substantial amount of their assets to a new legal entity, General Motors Company ("GM" or "New GM").

We would like to remind you that dealers of GM vehicles will continue to service GM vehicles and honor GM vehicle warranties.
Now once "New GM" sells Saturn to Penske or some other buyer, you will probably have to find a local GM dealership and transfer your service work there. So keep your eye out for more letters in the future regarding "New GM" shedding the Saturn brand and what you need to do for future warranty service at a GM dealership.

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Originally Posted by solli4me
Would anyone like a hamster? I already asked Reed but he politely declined....
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post #7 of 11 (permalink) Old 07-13-2009, 10:17 AM
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Thumbs down

I think that as long as the federal government and obamass is involved and running that company, I will never buy another GM product until they (the guberment) is out on their collective asses... I still have 1 vehicle left under their warranty, my sky which expires next month.. After that, unless it's covered under the 100/5 year, deal I am starting to maintain my own vehicles once again.. Besides, it's feels good to get grease and oil on my hands again.. Brings back good memories and I no longer get scammed or overcharged for 6-7 cans of oil when the engine only takes 5..



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post #8 of 11 (permalink) Old 07-13-2009, 02:52 PM
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I just got back from my dealer and he told me that they would still be servicing and doing warranty work on all Saturns as long as they are under contract with the new GM to sell Saturn Cars.. Then it will be up to GM and Penske to come up with any agreements for service and Warranty work.

To Midnight blues... I have been attempted to be scammed more by non GM dealerships or service companies (Midas, Performance Tune..etc), If you get scammed by a dealer or anyone else it is your fault and you should look over your bill carefully before paying and number one thing to do is, If you don't know what a charge is for ASK, and then if you think it wasn't necessary then protest..

Tim
Johnson City, Tenessee
Former proud owner of 2 Skys 2007 and 2008
NOW a Proud owner of a 2012 Chevy Camaro!
But I still love Skys!
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post #9 of 11 (permalink) Old 07-13-2009, 06:20 PM
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Thumbs down

Quote:
Originally Posted by SkyMan 08 View Post
I just got back from my dealer and he told me that they would still be servicing and doing warranty work on all Saturns as long as they are under contract with the new GM to sell Saturn Cars.. Then it will be up to GM and Penske to come up with any agreements for service and Warranty work.

To Midnight blues... I have been attempted to be scammed more by non GM dealerships or service companies (Midas, Performance Tune..etc), If you get scammed by a dealer or anyone else it is your fault and you should look over your bill carefully before paying and number one thing to do is, If you don't know what a charge is for ASK, and then if you think it wasn't necessary then protest..
What IF you get charged and the work wasn't really done?? It happens more than you think my friend.. IF I can't trust the dealers who can you trust nowadays? Especially now? Once that car goes into the back and into the bay.. you never really know WTF they are doing.. I wish they had see thru windows as they work on your car.. That way at least you can actually see the oil being drained..



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post #10 of 11 (permalink) Old 07-16-2009, 08:41 AM
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Originally Posted by MidniteBlues View Post
What IF you get charged and the work wasn't really done?? It happens more than you think my friend.. IF I can't trust the dealers who can you trust nowadays? Especially now? Once that car goes into the back and into the bay.. you never really know WTF they are doing.. I wish they had see thru windows as they work on your car.. That way at least you can actually see the oil being drained..
Boy are you paranoid... your idea of being able to see them work on your car is flawed, You may see the oil being drained but do you know if they are putting on a used filter or even if they are putting in the oil you requested or recycled or used oil? You may see them take the part off but maybe they wipe off the dirt and grime and put it right back on and charge you for a new part...Come on man, they have a lot to lose if they pull stuff like that.. Like I said I mistrust these little independent garages a lot more than a dealership...Some of us can't do the work ourselves because we either don't have the tools or place to work on our cars, it's a matter of finding a shop you trust and sticking with them.

Tim
Johnson City, Tenessee
Former proud owner of 2 Skys 2007 and 2008
NOW a Proud owner of a 2012 Chevy Camaro!
But I still love Skys!
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post #11 of 11 (permalink) Old 07-16-2009, 08:53 AM
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Red face

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Originally Posted by SkyMan 08 View Post
Boy are you paranoid... your idea of being able to see them work on your car is flawed, You may see the oil being drained but do you know if they are putting on a used filter or even if they are putting in the oil you requested or recycled or used oil? You may see them take the part off but maybe they wipe off the dirt and grime and put it right back on and charge you for a new part...Come on man, they have a lot to lose if they pull stuff like that.. Like I said I mistrust these little independent garages a lot more than a dealership...Some of us can't do the work ourselves because we either don't have the tools or place to work on our cars, it's a matter of finding a shop you trust and sticking with them.
BUT, I do agree with that entire statement.. BTW, it's not a matter of being paranoid, it's a matter of that I'm tired of being screwed by unscrupulous people at "SOME" dealers..

Also I'm finding myself during these hard times scutinizing every work order and challenging everything I don't understand.. this is more recent BTW, a year or 2 ago I didn't even bother looking at the invoice, now, I feel I have to.. unfortunately..



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