# E-mail from Pontiac



## 05GTO (Oct 6, 2004)

Just received this email;



> Dear Randy,
> 
> I wanted you to hear directly from General Motors about an important
> announcement we made recently to phase out the Pontiac brand by year end 2010. As a Pontiac owner, you are part of a rich heritage and tradition that had its inception back in 1926. Pontiac has some of the best-looking, best-driving and best-engineered cars in the U.S., and this was a particularly difficult business decision for us to make.
> ...






> Pontiac Statement and Q&A
> April 27, 2008, 7 am
> Pontiac brand to be phased out as part of GM’s more aggressive restructuring efforts
> BACKGROUND
> ...


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## silversport (Mar 23, 2007)

oh man...Susan said _*I*_ was the only one...
Bill


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## REX (Jan 21, 2009)

05GTO said:


> However, the Viability Plan as submitted was not acceptable. GM was further challenged to take
> more significant restructuring actions which would allow the company to be viable even in these
> unprecedented market conditions and in any future cyclical market downturns.


Thanks for the update! I have two questions though...

"Viability Plan not acceptable" to whom? 

"Further challenged to take more significant restructuring actions" by whom?


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## silversport (Mar 23, 2007)

President Obama...
Bill


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## PhantomTiger (Feb 15, 2005)

From what I understand, the reason the second GM proposal was turned down by Obama and his car zar committee, was the UAW members in that group would not approve it....So Obama told GM to cut more and come up with a better UAW friendly approach. That likely killed Pontiac. The latest plan (please read below):

_From an earlier LA Times:

In a zero-hour bid to stay out of bankruptcy, General Motors Corp. said today it would fold the Pontiac brand, cut 42% of its U.S. dealers and 28% of its plants by the end of 2010, and offer holders of $27 billion in debt significant equity stakes in the company.

GM will also cease production of Hummer, Saturn and Saab vehicles and shed 21,000 jobs by year's end.

One sticking point for GM has been reducing by as much as half $20 billion in cash obligations to a retiree healthcare trust. The automaker said it would accomplish that goal with a debt-for-equity swap, and would also offer the same exchange to the Treasury in exchange for up to $10 billion in debt and to private holders of $27 billion in GM bonds.

A tender offer extended by the company today would trade 225 shares in the company for every $1,000 in debt, and Henderson said it aimed to cut about $44 billion from its balance sheet.

If successful, it would give the U.S. government at least a 50% stake in the automaker, with the union holding up to 39% and bondholders with an additional 10% share. Current shareholders would effectively be wiped out. Henderson did not give details on how GM would be managed in that scenario, but said that the "administration is not interested in running GM."

Meanwhile, GM said it would soon begin contacting the approximately 2,600 dealers it has selected for elimination and make them undisclosed offers to surrender their GM franchises. That could cost billions of dollars, although Henderson declined to give specifics of the offer.

A big part of that reduction would be eliminating Pontiac, which GM today added to the list of targeted brands. Hummer, Saab and Saturn were already slated for closure. Henderson said that production of all four brands would cease by 2010, although a few Pontiac models could be extended for another year.

In addition, Henderson said that should a potential buyer of one of those brands wish to continue selling the same models, GM would be open to performing contract production._

So if the government (administration) does not want to run it, then who does....likely the UAW at the next largest controlling amount of 39%...So GM is either managed or very influenced by the UAW then ever before, along with the government pushing their agenda through them....I think GM should go into backruptcy, and that may be the direction the bond holders will likely only allow!? It will be interesting to see what happens, but GM will be very different.


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## ppurfield001 (Jan 21, 2008)

05GTO said:


> Just received this email;



05GTO:

Did my bit for GM today. Purchased a Liquid Red a 2009 G8 GXP. Test drove the car and got up to 85 in a flash. Handles very, very well. Good engine for long drives (drops to four of the eight cylinders to conserve fuel). 6.2 liter V8 with aluminum heads, six-speed automatic, stainless steel exhaust, independent rear suspension and McPherson struts up front. Couldn't resist. You'll never get me in a Prius. Ponchos live on, at least in my memories! 

Regards, 
Paul


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## 05GTO (Oct 6, 2004)

ppurfield001 said:


> 05GTO:
> 
> Did my bit for GM today. Purchased a Liquid Red a 2009 G8 GXP. Test drove the car and got up to 85 in a flash. Handles very, very well. Good engine for long drives (drops to four of the eight cylinders to conserve fuel). 6.2 liter V8 with aluminum heads, six-speed automatic, stainless steel exhaust, independent rear suspension and McPherson struts up front. Couldn't resist. You'll never get me in a Prius. Ponchos live on, at least in my memories!
> 
> ...


Post some pictures, what are the hp/tq stats for the GXP?


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## alsgto04 (Nov 21, 2007)

ppurfield001 said:


> 05GTO:
> 
> Did my bit for GM today. Purchased a Liquid Red a 2009 G8 GXP. Test drove the car and got up to 85 in a flash. Handles very, very well. Good engine for long drives (drops to four of the eight cylinders to conserve fuel). 6.2 liter V8 with aluminum heads, six-speed automatic, stainless steel exhaust, independent rear suspension and McPherson struts up front. Couldn't resist. You'll never get me in a Prius. Ponchos live on, at least in my memories!
> 
> ...


Congrats on your purchase, cant wait to see that beast.


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## silversport (Mar 23, 2007)

I didn't think the GXP had the engine management but cool nontheless...congrats...
Bill


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## ppurfield001 (Jan 21, 2008)

05GTO said:


> Post some pictures, what are the hp/tq stats for the GXP?



Randy, will post pictures after I pick up the car next Saturday. The 6.2 liter is rated at 415 horsepower and 402 foot pounds of torque. The car handles unbelievably and when you punch it, you go. One of the mechanics at the dealership told me its easy to pick up another 100 horsepower with minimal modifications. Regards, Paul.


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## Too Many Projects (Nov 15, 2008)

WOW, Paul, I need a job where you work...:willy:
Congrats on the purchase...:cheers


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