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Re: Don't confuse Bankruptcy with Liquidation
Posted by BenR [Email] (more from BenR) on Wed, 18 Feb 2009 16:19:16
In Reply to: Don't confuse Bankruptcy with Liquidation, MI-Roger
[Profile/Gallery]
, Wed, 18 Feb 2009 08:04:06
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To echo the points from Mi-Roger, I'm not sure about the bankruptcy laws of Sweeden, but I believe even if GM files for Chpt 11, the company still has to honor any existing warrenties on vehicles sold before and possibly after bankruptcy. The main reason GM may file bankruptcy is to break the labor contracts with the workers union that is bleeding the company dry in the tough economy. Parts could be a bit tougher to find because companies that produce parts will produce at the volume that demand permits. The more 9-3's made and sold, the more parts that will be produced to sell to companies to fix them. Another possible problem could be resale value. People do not want to buy cars from a company that is flirting with bankruptcy. Wheather this is a warrented reason to make in buying a car, there is a very negative stigma associated with bankruptcy.
I also heard GM was considering "getting rid" of the Saab brand. This would effect new cars made after GM lets the brand go. Sweeden is socialist and I doubt the Sweedish government would allow Saab to disappear. My advice is, if you know a good indy then maintain a good relationship with them. As long as there are cars, there will be parts.
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