Some interesting tidbits from around the internets today…..
Automotive News clear some air on the bankruptcy process and Saab:
General Motors’ U.S. bankruptcy filing will not obstruct plans to sell the company’s subsidiaries in Europe — a process that is advancing while plenty of issues remain unresolved…..
…..None of GM’s operations outside the United States are included in the U.S. court filings. The company confirmed that all business operations are continuing without interruption in its regions in Europe; Latin America, Africa and the Middle East; and the Asia-Pacific…..
You can watch a reply of GM chief Fritz Henderson’s presentation at the GMTV feedroom. This includes the Q&A session where he confirms that Ripplewood and Fiat are not on the bidders list in Trollhattan.
Toward the start of his presentation, he states that a new GM will re-emerge with it’s best brand revitalised, or words to that effect.
How can a guy be so wrong and so right both at the same time?
Here’s an interesting aside – one of General Motors largest trade creditors with $33million owed is The Renco Group.
According to a report by the Wall Street Journal, General Motors plans to announce a tentative sale of the Hummer brand less than a day after filing for Chapter 11 bankruptcy protection. Although GM won’t release the name of Hummer’s (possible) future owner(s) on Tuesday, the WSJ’s sources say that a deal could be struck by the end of the third quarter and the H2 and H3 will continue to be produced at GM’s plants in Indiana and Louisiana.
I’ve wondered for some time if Renco were also having a crack at Hummer. I guess we’ll see soon.