Law and Rights
Subscribe in a reader
- New Gm Promises To Honor Warranties
Good news for owners of GM cars and trucks --- reports are that the "new" GM which comes out of bankruptcy will honor the "old" GM's warranty on the millions of cars and trucks on the road. That announcement, although a promise yet to be fulfilled,...
- Gm Parties On Government Money
Literally weeks before a government deadline to avoid bankruptcy, GM threw a Resort Getaway party for 500 of its biggest customers. Well, it's good to see that last billion dollar bailout is being put to good use (sarcasm intended). CBS' KPHO...
- Gm Default Likely, S&p Says
Standard & Poor, the people who rate the credit status of corporations, has cut GM's rating deeper into junk value because its assets are shrinking, sales are light and debt is not being reduced, according to S&P. Although S&P predicts...
- Rv Industry Collapsing ?
Last year several Rv builders went out of business and this year things aren't looking any better. So far, Country Coach, Monaco Coach and Fleetwood have all filed bankruptcy (of one kind or another). Who's next? That's become the name of...
- Gm Auditors In A Panic ?
It's official. Associated Press is reporting that GM's auditors (the number crunchers) have released their report on the health of GM and it's not good. "The corporation's recurring losses from operations, stockholders' deficit,...
Law and Rights
GM Predicted to File Bankruptcy Any Day
As of late afternoon on May 26, 2009, sources involved with the GM restructuring are saying it's all but over with.
GM had to get 90% of its bondholders to accept its "debt for equity" swap to avoid filing the largest ever industrial bankruptcy in US history by the end of the month and the final deadline is midnight. The tally? GM won't release the actual numbers but Reuters News is reporting that "a source" on the inside is saying the percentage is in the low single digits.
That means it's all but done for GM.
With no way to avoid reality, it seems it will now be impossible for GM to avoid filing bankruptcy any day now.
If you've got a GM built car, still under warranty, now's the time to get it in the shop, while the dealer might still honor the GM warranty work that you need. Pretty soon, that may not be the answer you get.
Burdge Law Office
http://www.newcarlemonlaw.com/
Helping consumers protect themselves since 1978.
Subscribe in a reader- New Gm Promises To Honor Warranties
Good news for owners of GM cars and trucks --- reports are that the "new" GM which comes out of bankruptcy will honor the "old" GM's warranty on the millions of cars and trucks on the road. That announcement, although a promise yet to be fulfilled,...
- Gm Parties On Government Money
Literally weeks before a government deadline to avoid bankruptcy, GM threw a Resort Getaway party for 500 of its biggest customers. Well, it's good to see that last billion dollar bailout is being put to good use (sarcasm intended). CBS' KPHO...
- Gm Default Likely, S&p Says
Standard & Poor, the people who rate the credit status of corporations, has cut GM's rating deeper into junk value because its assets are shrinking, sales are light and debt is not being reduced, according to S&P. Although S&P predicts...
- Rv Industry Collapsing ?
Last year several Rv builders went out of business and this year things aren't looking any better. So far, Country Coach, Monaco Coach and Fleetwood have all filed bankruptcy (of one kind or another). Who's next? That's become the name of...
- Gm Auditors In A Panic ?
It's official. Associated Press is reporting that GM's auditors (the number crunchers) have released their report on the health of GM and it's not good. "The corporation's recurring losses from operations, stockholders' deficit,...