Archive for the ‘General Motors’ Category

In case you were wondering, we haven't said much about General Motors' bankruptcy trial because there hasn't been much to report. The government still hasn't budged on its July 10 deadline to see the General out of bankruptcy or liquidated; GM is still trying to sell off bad assets like superfund sites and golf courses so it can make a fresh start; and investors are still challenging the bankruptcy and the fed's deadline. Another round of hearings has just wrapped, so we hope to have some fresh details soon. Stay tuned.

[Freep]

In the market for a golf course? How about a toxic dump? Perhaps a parking lot in Flint, Michigan is more your speed? Get your checkbooks ready, because those three properties and many other holdings are about to be sold off as "bad assets" by General Motors (aka "Old GM"), so that the General can emerge from bankruptcy court as a lean, mean, automaking machine ready to tackle the unique challenges of the 21st century (aka "New GM"). We've got dibs on Lutz's box of vintage Swedish Eroticas, but everything else is up for grabs.

[Bloomberg]

In an effort to keep the wheels of (re)invention rolling, General Motors has released plans for a "72-Hour Sale", which starts today and runs through July 6. By our calculations, that's considerably longer than 72 hours, but we're going to give GM the benefit of the doubt and assume they mean business hours. Besides, calling it a "144-Hour Sale" wouldn't be quite as catchy.

To drive home the "72" theme, GM is offering shoppers a shot at 0% financing for up to 72 months (see what they did there?). There are two small caveats: to get that deal, you'll need to be a "well-qualified buyer" (i.e. meet certain credit requirements), and you'll need...