The General Motors bankruptcy
By Jason Hines on May 30, 2009
The General Motors (and Chrysler for that sake!) bankruptcy has caused lots of commotion, and regarldess of what you think of it – there certainly has been lots of uncertainty around it.
Now as we get closer the view of the upcoming bankruptcy does become clearer – see below in RecordedFuture’s timeline. You can watch how the chatter level regarding GM’s bankruptcy increases over the time period and culminates in the potential bankruptcy event June 1st – some 6 days out from when this screen shot was taken, with 45 sources indicating the event. Now you may say that this is too obvious of an event – but there is still uncertainty here – and money to be made for investors.
Beyond June 1st we can track anything and everything from the company plans to idle plants this summer to GM’s bonds due in 2033 that just rose to 5.06 cents on the dollar.
We may also want to take a look at Chrysler and their bankruptcy. We can see how they had “their 15 minutes of fame” already – but there are plenty of interesting pieces in the future here too – 5 more Chrysler plants are to be closed by end of 2010, the bankruptcy could delay 2010 updates, 2011 models, Chrysler wants to eliminate roughly a quarter of its dealerships by early next month (June), on June 2 – automakers are scheduled to report May auto sales.
Hopefully we can soon stop focusing on bankrupt auto makers and start talking about the future. Fuel efficiency levels are being increased as we speak. Tesla is rolling out Model S hatchback and plans late 2011 start for that. Even General Motors is launching their Volt electric car at the end of 2010, but the average buyer won’t be able to find one until 2011.
As always, we welcome your comments below!