"New" GM doesn't want to repair products of "Old" GM

[JasG]

Seems Government motors feels they should not have to honor warranties of product made before the bankruptcy. Just makes me want to run out and buy another one.

That was why I stopped buying GM product a long time ago, the warranty wasn't worth the paper it was printed on.

GM says bankruptcy excuses it from Impala repairs | Reuters

 

[Chef Pa]

Mr. O probably put that policy into his restructuring plan when he ran GM. Smart man that Mr. O... :laughing:

 

[om21braz]

I take it the case has not been ruled on, but we can all guess at the conclusion.

 

[ModMech]

There have been numerous comments on GMs bankruptsy before but I fell a few are wort repeating.

GM filed on essentially TWO groups of "creditors"...

1) Their customers (warranty)

2) Their employees, foarmer and current (retirement)

Now, a man HAS GOT to ask himself, do I REALLY want to purchase products from a company that LIES AND CHEATS and takes government money?

I KNOW the unions were a little too greedy with the retirement benefits, but you have got to remember than GM signed the CONTRACT just like the union did - they AGREED on it.

I fail to see how an employee can *expect* more years and dollars of retirement benefits than they ever worked or earned during their working for a company (or government agency). But if the employer agrees and signs a CONTRACT, then they are on the hook for it until that contract is amended.

GM also has contracts with buyers of it's products, it is called a "warantee". They walked away from the customers just as well.

The difference is that most people will only be "out" the cost of repairs, a few thousand dollars or so. The former employees who were told they would have certain lifetime benefits were LIED TO and now face hardships fror the rest of their lives.

I just don't get how anyone could buy GM?????

 

[5030]

My exception to your comment is 'Pre-Obama Motors' of which I have 2. An o4 Tracker and an 04 Caddillac.

The 'new' GM can go stick it where it stinks for all I care.

 

[buckshot721]

Well we missed it by one year, but if they treat customers like that no more GM products for me.

 

[xrsrfn]

From my understanding this is typical of what happens when companies file for bankruptcy. While I do not agree that obligations can just be canceled that is what bankruptcy is for....Obligations cannot be met! That said GM did not have a typical bankruptcy, Mr. Barry pronounced them bankrupt and here is the order I am taking them over.by fiat. So it really doesn't matter there is no RULE OF LAW in this country anymore anyway unless you have the cash for it.

 

[puckgrinder85]

Funny, we see a few impalas a week and almost never replace those arms unless a negligent tower decided to hook his chains up onto them, bending them.

 

[two_bit_score]

From my understanding this is typical of what happens when companies file for bankruptcy. While I do not agree that obligations can just be canceled that is what bankruptcy is for....Obligations cannot be met! That said GM did not have a typical bankruptcy, Mr. Barry pronounced them bankrupt and here is the order I am taking them over.by fiat. So it really doesn't matter there is no RULE OF LAW in this country anymore anyway unless you have the cash for it.

It's all ObamaLaw now. The law of the jungle. Can't wait until 2012!

 

[ModMech]

Obama has nothing to do with it, the law that is.... it was in place for a long time before he was elected.

Most "laws" regarding consumers protect only ONE group and that group is the monster-mega-corporataion and NOT YOU OR I.

If you do your homework, you will see that while GM filed, they did not *really* file against anyone BUT their employees and customers. Who does that leave? Creditors (vendors and banks). Most of the creditors got almost every penny they were owed.

You have GOT to ask yourself WHY?

Would you sell to GM if they left you with $1.2M worth of unpaid receipts? H#LL NO!

Would you loan to GM if they left you with $3.4B worth of loans you cannot collect a dime on? H#LL NO!

In order for the "new" GM to even have a shot, they *could not* walk away from their commercial creditors. But you and I, well screw us!