Posted on 08/19/2011 4:37:30 PM PDT by STARWISE
General Motors Co. is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its bankruptcy.
The lawsuit, filed on June 29 by Donna Trusky of Blakely, Penn., contended that her Impala suffered from faulty rear spindle rods, causing her rear tires to wear out after just 6,000 miles.
(Excerpt) Read more at chicagotribune.com ...
Results: Net income for the company was $2.5 billion ($1.54 per share) vs. $1.3 billion ($0.85 cents per share) a year earlier.
Revenue: Rose to $39.4 billion vs. $33.2 billion in the year ago quarter, an 18.7% rise.
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City paying off fire station with GM money
Excerpt:
For more than a year local units of government have been locked in tough negotiations with General Motors about property taxes they owe.
Some of the organizations, like the schools, had to take out loans in order to cover the shortfall, but other organizations like the City of Kokomo and Howard County could make up the shortfall by passing it on to the other residents in Howard County. Property tax caps kept the residents from feeling the entire burden of GM's share.
Once the GM deal was settled the big question was what to do with the money. The county has decided to give the money back to the taxpayers, but city government felt there was a better way to benefit the taxpayers in the city.
"Because of the General Motors holding settlement our property tax shortfall this year was $1.8 million that we lost part of that was in May," said Mayor Greg Goodnight.
"Now with this settlement agreement we are going to get a big chunk of that back, $1.2 million. We have been having discussions since the settlement was made and now the plan is to pay off the Fire Station Number 2 that was set to open here in the next month, four years early. We have already made one payment out of edit and our goal is to put forth an ordinance to pay that off. Obviously this is subject to council approval because the money has not been appropriated."
Obama Motors....FAILURE!
Bankruptcy? This will be news the holders of original GM stock.
the new GM is right, they have nothing to do with these problems. These people’s gripe with this company:
https://www.motorsliquidation.com/
All they can hope for is that the government and unions that own then new GM will throw them a bone to shut them up.
No I think the Bondholders have now legal action to have the company sold.
From a legal standpoint they may be right. From a public relations , and ultimately from a bottom line standpoint, they are dumb as rocks.
A decision this stupid could only be made by someone selected by the government
I don’t give a sh*t if GM was in bankruptcy then, they have a frakin responsibility to those who bought their pieces of sh*t.
I have ever owned but on GM product—a Chevy S10—but be assured, after they and the unions got bailed out with our money, I swore off ever buying another GM piece of sh*t product, EVER!
You let GM keep up with this garbage of not being responsible to those who have bought their garbage and be assured, their market share will continue to fall lower than a piece of whale sh*t working its way to the bottom of the ocean. Worthless SOBs. =.=
Hey cranked - don’t hold back man, tell us how you really feel about GM.
I will make a more concerted effort next time to be more politically correct when talking about lamearse GM next time...
I agree - They avoided bankruptcy, didn’t they?
This will not end well!
The bad news is that decent people get shafted. The good news - this will wreck what little credibility Government Motors has. I hope it’s the final public relations nail in a well-deserved coffin. This corrupt company must die. Soon.
The Old GM or the New GM?
We had always been GM people ever since we were married (30+ years), but that all ended when the government took over and shafted the bondholders. This is a very radical change for my husband to even consider after his lifelong allegiance to GM products.
We didn’t even consider a GM product earlier this year when I had to buy another vehicle because my old one had been totaled in a wreck. The business manager at the Ford dealership told us “You have no idea how many times we’ve heard that same story. People are coming in here saying ‘No more Chrysler, no more GM.’”
Great. Go bankrupt, take all of your chips to a "new GM", and leave the old GM existing only on paper so "the new GM" can go about business without having to worry about "the old GM's" liabilities. Anyone with claims can take them to "the old GM", oh, and good luck collecting snicker snicker.
I never want to see the inside of a GM dealership, new or otherwise.
The Question for GM: “Do we Pay for the repairs or give more cash to Democrat politicians??”
I think we know the answer.
Maybe the Impala owners should picket the houses of GM management like the Verizon Union goons are doing. Wait - that would be the White Hut.
GM doesn't have to. Obambi already guaranteed that the government (taxpayers) will cover the warranties!
Obama Offers Incentives to Stimulate Auto Sales
U.S. will guarantee GM, Chrysler warranties, Obama says
Obama also said the government will guarantee warranties on any GM or Chrysler vehicles. 3-30-2009
A MAN IS ONLY AS GOOD AS HIS WORD.
“Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always,” Obama said in a speech. “Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty.”
President Barack Obama
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