0Robert@SPEEDSOUTH

That was being discussed on here a week or so ago. Some of us signed up, others said they wouldn't. Here's what I recieved from them today. There are a lot of links in here so they will need to be copied and pasted.

"Hello --

Thank you again for your interest in receiving periodic updates and headlines about GM's progress and some of the latest news around its restructuring. Immediately below, I included a recap of GM's viability plan for your background. Below that are a few news clips that came out this week and farther below I included notable quotes.

I'm sending you all of this information to give you a well-rounded sample of various topics, knowing that some of it you will find useful and some not. I'm assuming the more the better so you can choose.

Have a fantastic weekend,
Amanda

Plan for Success and Global Competitiveness
“The actions we’re announcing… position us for sustainable success by establishing stronger brands, fewer nameplates, and a world-class dealer network. They will also allow us to significantly increase our North American structural-cost reduction and dramatically reduce our U.S. breakeven volume, enabling the company to be profitable at today’s very low industry-sales volumes.” – GM CEO Fritz Henderson, GM FastLane Blog, 4/27/09, http://fastlane.gmblogs.com/

GM’s viability plan calls for considerable sacrifice from all stakeholders – bondholders, shareholders, dealers, suppliers, employees, and retirees.
GM anticipates reducing its U.S. dealer count by 42% by 2010 to 3,605 dealers.
GM has reduced its U.S. workforce from 191,000 in 2000 to 97,000 in 2008. And since 2005, GM has reduced structural costs in North America by $9 billion.
GM intends to fully repay loans back to the taxpayers. In less than two years, GM predicts it will become fully profitable.
GM is working closely with the federal government and meeting stringent milestones to demonstrate that restructuring and long-term planning are moving forward and on pace.
The auto industry has tremendous potential for growth worldwide given that only 12% of the world’s population drives vehicles today. – Brian Olson, CFO for Quantum Fuel Systems Technologies Worldwide, Nordic Green ’08 Conference, 4/29/08, http://www.siliconvalley.um.dk/en/se...ncePartner.htm


NEWS STORIES

GM April China Sales Surge 50% on Minivans, Subsidies
Bloomberg, by Eugene Tang, 5/4/09
http://www.bloomberg.com/apps/news?p...d=au3qthk3SiA0
“General Motors Corp., the biggest overseas automaker in China, boosted sales in the country 50 percent last month as government stimulus measures spurred demand for minivans.”

2010 Chevrolet Equinox Exceeds Expectations with an EPA Estimated 32 MPG
Automobile Magazine, by Tom Ludwick, 5/5/09
http://rumors.automobilemag.com/6509...mpg/index.html

“When Chevrolet introduced the 2010 Equinox, it estimated that the crossover would receive a best-in-class 30 mpg EPA freeway rating. However, based on GM's testing the front-wheel-drive 2010 Equinox with the 2.4-liter I-4 is now expected to exceed expectations with a 32 mpg EPA highway rating.”

GM Loss Widens to $5.98 Billion as Bankruptcy Deadline Nears
Bloomberg, by Jeff Green and Katie Merx, 5/7/09
http://www.bloomberg.com/apps/news?p...8O8&refer=home
“General Motors Corp. said its first- quarter net loss widened to $5.98 billion as sales plunged by almost half, ratcheting up the prospect of a bankruptcy filing by a U.S.-imposed June 1 deadline.”

Myths and Facts about Cars and Carmakers
The Washington Post, Letters to the Editor, 5/5/09
http://www.washingtonpost.com/wp-dyn...050403253.html
“It's truly unfortunate that just as these companies turn the corner, they face an economic downturn that is crushing even mighty Toyota. My fear is that by the time Congress, the media and the public wake up to the fact that Ford and GM are making many, many excellent vehicles, it will be too late.”



NEWS QUOTES

James R. Healey, USA Today, 5/1/09, “Drivers Could Get a Charge Out of Chevrolet Volt”
http://www.usatoday.com/money/autos/...rly-look_N.htm
…[F]olks who buy or lease the Chevrolet Volt electric car — scheduled to go on sale in November 2010 — should be surprised and pleased. If the so-called Volt mules that General Motors provided for a few miles of driving around the GM Tech Center campus here Tuesday were representative, Volt owners will be treated to remarkably punchy performance from the electric drivetrain and a level of quiet refinement that appears to lead the industry.

William Holstein, Author of “Why GM Matters: Inside the Race to Transform an American Icon,” FOX News, 5/3/09
General Motors is in an entirely different condition than Chrysler, [as GM is] a viable automaker. They have a complete portfolio of new products, not just gas-guzzling SUVs as you read in the New York Times all the time. And they have a viable management team and they've got a plan in place, so in that case, the government ought to let them execute on their plan and continue to lend, until they get through this economic crisis, but stay out of the way.

Lyle J. Dennis, Founder of GM-Volt.com, Washington Post, 5/7/09, “The Real Value of the Volt”
http://www.washingtonpost.com/wp-dyn...050603759.html
While the wealthy and the government may have to subsidize first-generation Volts, electric car prices will drop substantially with increasing production volume as economies of scale come into play. In my opinion and that of thousands of others, the Volt is the best idea GM has ever had.

Phillip Reed, Edmunds.com, USA Today, 5/1/09, “What Does Chrysler’s Filing Mean for GM, Suppliers?”
http://www.usatoday.com/money/autos/...nkruptcy_N.htm
No one can blame car buyers who shied away from brands that were mentioned in the same breath as the word “bankruptcy.” Now that their warranties are being guaranteed…GM vehicles are good deals which are worth considering.

Tom Stephens, GM VP for Global Product Development, GM FastLane Blog, 5/5/09, “Plug-in hybrid technology will be applied to one of GM’s four core brands”

http://fastlane.gmblogs.com/archives...re_brands.html

We’re making a lot of difficult yet necessary decisions these days to ensure GM’s long-term future[.] … I can assure you our commitment to hybrid, plug-in hybrid and advanced battery technology is a key element of GM’s reinvention. …I’m pleased to let you know the plug-in hybrid technology will be applied to one of GM’s four core brands. …Even better news, the introduction of this technology will not be delayed. We are still planning initial delivery, of the plug-in hybrid vehicles, which use a modified version of the GM Two-mode Hybrid system, in 2011 to the DOE and EPRI for use in fleets. The Volt and plug-in hybrid vehicle are two of 14 hybrid and electric vehicles GM plans to offer by 2012."

sperkins

It's statements like the ones above that scare the hell out of me. I never thought I would see the day that the internal combustion engine would be phased out. Makes me wonder if my kids will ever get to enjoy an old school big block, a high screaming small block or even a modern FI monster.

I will say that this "zero emissions hot rod" is pretty sharp. Maybe in 50 years or so, a regular gear head will actually be able to afford one.