In 30 Tagen ist GM pleite und Chapter 11 kommt
Die Maßnahmen von GMAC und der Fed hätten das Risiko einer Zahlungsunfähigkeit von GMAC drastisch verringert. Ein Finanzierungszugang könnte über das TARP oder den Kapitalmarkt hergestellt werden.
Auf Grund einer besseren Verfügbarkeit von Krediten könnte somit der Autoabsatz wieder angekurbelt werden.
Vor diesem Hintergrund sprechen die Analysten von Deutsche Bank Securities für die Aktie von General Motors weiterhin eine Verkaufsempfehlung aus.
Manager sind ja nun nicht grad die schnellsten.
Besonders , wenn es um ´s Begreifen geht.
Begreifen das sich die Schlinge zu zieht ist eine der Eigenschaften die US-Manager überhaupt nicht beherrschen.
Somit brauchen die Herren GMAC halt noch etwas.
Gibt ja Leute die erst wach gerüttelt werden müssen ....
Und ´n bischen Spannung am Markt sollte es zum Jahresschluß ja auch noch geben.
Sonst währ es ja langweilig.
Nach dem Prosit Neujahr wird man sehen ob die Herrschaften es gefressen haben oder gefressen werden ...
Prosit !!!
Damit hofft GM, wieder einige Monate überleben zu können, bis neue Stützung kommt.
Ursprünglich wollte GMAC Schulden im Volumen von 38 Mrd USD tauschen und hatte auf die Annahme des Swaps durch 75% der Inhaber gesetzt.
Glaube aber eher an 45 - 50%.
Jan. 5 (Bloomberg) -- General Motors Corp.’s 2008 U.S. sales plunged to a 49-year low, dragged down by a 31 percent plunge in December as demand was ravaged by the recession and concern that the biggest domestic automaker might collapse.
Toyota Motor Corp.’s U.S. deliveries plummeted 37 percent last month, while Honda Motor Co. slipped 35 percent, Ford Motor Co. fell 32 percent and Nissan Motor Co. was down 31 percent, pointing toward the industry’s worst annual volume since 1992.
The federal rescue of GM and Chrysler LLC couldn’t overcome the weight of consumer pessimism and tight credit in the world’s biggest auto market. Ford’s annual U.S. sales sagged to a 47- year low, while GM’s total of 2.98 million was the least since 1959, according to trade publication Automotive News.
“If consumer confidence doesn’t snap back soon, it’s going to be difficult for the automakers,” said John Wolkonowicz, an analyst with IHS Global Insight Inc. in Lexington, Massachusetts. “It isn’t just GM, Ford, Chrysler that are suffering from this. It is the entire auto industry globally.”
GM and Chrysler received commitments last month for as much as $17.4 billion in U.S. loans, saying they would have run short of operating cash by this month. Chrysler sales probably fell 48 percent, based on the average of 6 analysts’ forecasts.
U.S. Market Share
Thanks to bigger declines throughout 2008, the U.S. automakers will likely mark the first calendar year where their combined market share was less than 50 percent, based on results through November, when they held 47 percent.
The drop in full-year U.S. sales for Toyota and Honda were the first for the Japanese automakers since 1995 and 1993, respectively.
Industrywide U.S. sales extended a streak of declines of at least 25 percent dating to September. Vehicle sales for the year likely will total slightly more than 13 million, based on estimates from a Bloomberg News survey of 22 analysts and economists.
While that annual total would be the lowest in 16 years, it doesn’t reflect the steepening slide in U.S. auto demand.
Last month’s seasonally adjusted annual sales rate probably was 10 million, a 39 percent decline, based on the Bloomberg survey. The November rate was 10.2 million, and annual sales for all of 2007 were 16.1 million.
“Everyone is trying to figure out if we’ve hit bottom yet,” said Jesse Toprak, director of industry analysis for auto-research firm Edmunds.com in Santa Monica, California. “We thought in October we had, then we thought in November we had, and now December will be worse.”
Weak Economy
U.S. jobless rolls reached a 26-year high in the week ended Dec. 20, signaling a worsening labor market as the economy heads into the second year of a recession. That weakness adds to the strain on automakers after record fuel prices in 2008’s first half damped demand for full-size pickups and sport-utility vehicles.
President-elect Barack Obama has made an economic stimulus package his top priority, and he told reporters today in Washington that the nation faces an “extraordinary challenge” in reviving growth.
“The sooner stimulus efforts find their way to where they’ll do the most good -- into the hands of consumers -- the sooner we’ll see a turnaround in confidence levels and a return of buyers to the marketplace,” Jim Lentz, president of Toyota’s U.S. sales unit, said in a statement today.
December’s plunge may have been tempered by the resumption of low-cost financing from GM last week, Edmunds.com said, citing a surge in vehicle inquiries on its site and dealer surveys.
Ford’s U.S. sales were “strong” in the last two weeks of December, Executive Vice President Mark Fields told reporters today in Dearborn.
GM, Chrysler Rescue
Consumer concern that Detroit-based GM and Auburn Hills, Michigan-based Chrysler would fail to get government aid and be forced into bankruptcy may have contributed to December’s slump, Patrick Archambault, a Goldman, Sachs & Co. analyst based in New York, said in a Dec. 28 research note.
President George W. Bush announced Dec. 19 that GM and Chrysler would get the emergency loans in exchange for restructuring their businesses. GM had said it might run out of operating funds by the end of 2008, while Chrysler had said it might fall short by the middle of this month.
Sales globally have begun to crumble as well. Auto sales in Japan dropped 5 percent in December and finished the year at a 28-year low as a recession there sapped demand for Toyota City, Japan-based Toyota and Nissan vehicles. French auto sales fell 16 percent in December
Auch Konzernchef Rick Wagoner hatte tags zuvor bereits womöglich nötige zusätzliche Kredite nicht ausgeschlossen. Ende vergangenen Jahres hatte der Opel-Mutterkonzern im Ringen um Staatshilfen zuletzt 18 Milliarden Dollar verlangt, letztlich aber 4,6 Milliarden weniger zugesagt bekommen.
GM muss ebenfalls wie der Konkurrent Chrysler, der bisher vier Milliarden Dollar an Notkrediten erhielt, der US-Regierung bis Ende März seine Überlebensfähigkeit beweisen. Bereits bis Mitte Februar muss dafür ein konkreter Plan vorliegen. Die Regierung fordert einen Schuldenabbau und die mittelfristige Senkung der Löhne auf das niedrigere Niveau ausländischer Hersteller in den USA. GM, Ford Motor (Profil) und Chrysler verhandeln darüber bereits mit der Auto-Gewerkschaft
Rod Lache, in a speech to the Society of Automotive Analysts, said that GM holds too much debt and won't get enough concessions from bondholders to conduct the kind of restructuring it needs. Only a bankruptcy could free GM to do what is required to survive in the long term, he said. Bondholders currently hold about 36 billion US dollars in GM debt.
"The probability is greater than not that there will be bankruptcy," Lache told the crowd.
Lache explained that GMAC, half of which is owned by GM, tried to swap most of its debt from bondholder's for equity as part of a deal for a government bailout which it received. But bondholders held out and didn't turn in as many bonds as had been sought by GMAC. As a result GM is still heavily burdened by debt with 60 billion US on the books and another 22 billion in government bailout loans from the US and Canadian governments. Lache thinks that GM cannot get all of its bondholders to agree to the concessions it needs in order to go on without a bankruptcy.
GM CEO Rick Wagoner still believes he can get that debt down by trying to convince bondholders to swap debt for equity in GM. But he conceded that it was a matter outside of GM's control. Wagoner, humbly, doesn't rule out bankruptcy but still says the chances of GM surviving are "very high".
General Motors to suggest bankruptcy as an option
Posted Feb 14th 2009 12:40PM by Zac Bissonnette
Filed under: General Motors (GM)
General Motors (NYSE: GM) has been saying for months that bankruptcy is not an option and in fact, not even a possibility. Of course most of us knew they were lying, but now they appear to be on the brink of finally admitting that.
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http://www.bloggingstocks.com/2009/02/14/...-bankruptcy-as-an-option/
Dem amerikanischen Steuerzahler kann man nicht zumuten, dass in diesem Jahr weitere zig Milliarden Dollar zum Fenster herausgeworfen werden.