GM have a month-and-a-bit to go, but Chrysler’s month is almost up and they’re preparing for bankruptcy.
According to a story from The New York Times, the Treasury Department and Chrysler are readying Chapter 11 bankruptcy documents for filing as early as next week.
The report goes on to say that the filing carries with it an “agreement in principle” with the United Auto Workers that would protect members’ benefits packages, including pension and retiree health care obligations.
I know it’s not Saab related, but this Chrysler/GM fiasco is like a car crash. It’s ugly, but you can’t help but look.
Fiat’s not out of the picture, either. They’ll be waiting in the wings to pick up the pieces but without the heavy baggage labelled “UAW”
Whither Fiat? Apparently, the Italian automaker is still very much in the picture, although under this arrangement, it would not reach its stake-holding deal until after Chrysler is already in bankruptcy court.
And on the GM side of the bankruptcy merry-go-round, they’re apparently going to kill another brand – next Monday.
It looks like they’re no longer excited about their excitement brand – Pontiac.
According to a source at General Motors, the company will announce next Monday its new “faster, deeper” reorganization plan, which will likely include a death sentence for the Pontiac brand.
Inside Line called Tom Wilkinson, news relations PR man for General Motors, who said: “There’s nothing I can share with you at this time. Keep your eyes on our media site. Officially, nothing has changed with Pontiac’s niche-brand status, until you hear differently.”
It’s like the who company is in an uncontrollable spin and bits are flying off due to the centrifugal forces.
Because I keep an eye on these things, it’s noted that the Saab 9-3 has been overtaken by it’s countryman – the Volvo C30 – in the top 3 of the Gaywheels most researched cars survey.
This is one of the most under-appreciated Saab shapes, I think: the first generation Saab 9000.
This one’s a black Carlsson edition, photographed by our unofficial Saab ambassador to the UK, Robin M.
The Porsche search has begun and wow – it’s a worry.
I’ve looked into one in Sydney and whilst it looked good and had the engine I’d really like, there are two issues that might need attention.
A car having two issues is not normally something that would put me off. But the parts alone – forget labour for a moment – cost over $2,500!!!!
I may have to look further into the local 1983 model that’s for sale here in Tassie. I drove it back in November last year and whilst I swore I’d not get a pre-1986 model at that time, my budget’s just not going to make it.
Plus, it’s local, it drives great, looks great in silver with the cookie cutter wheels and the price is much more reasonable.
The only other options are an MX-5 or do nothing.