Correct - (Paul) - All of GM's assets, liabilities and obligations are now in the hands of the bankruptcy judge who will decide who and what gets paid first.
Usually, this means that most creditors (GM Vendors) only get paid pennies for the dollars they are owed. It doesn't spell doom for RGM necessarily though.
The judge will have to look at all of GM's advertising and figure out how much needs to continue in order to ensure GM remains a viable concern. Nascar teams sponsored by Chevy are also at risk.
we'll just have to wait and see - it should go quickly, the administration is pressing for quick resolution
In a similar case, Richard Petty said yesterday that Dodge support is on hold. No monies are forthcoming even though company officials are saying they still plan to be a part of NASCAR. Same will happen to GM.
General Motors In Tentative Deal To Sell Hummer
NEW YORK -- General Motors Corp. said Tuesday that it has tentatively agreed to sell its Hummer brand, a day after the US automaker filed for bankruptcy ...
Obviously no one knows...except maybe TOG, if Robby has gotten paid yet from GM, but I would think that he has....it takes a full year of preparation for this thing, so one wouldneed the oney upfront I would think...especially with 3, maybe 4 hummers. It's not like you can build the trucks, test, ship etc, all out of pocket then on Jan 1, 2010 GM goes, "oh heres a 3 million dollar check, let's go racing next week!
I have no idea if he has already been paid for 2010, etc, all I know is , I was just told again, that all is good for 2010 Dakar. I take that as the check has already been cashed.
I would think Robby being a US team would want a US truck for the overseas immage.
And you cant beat the engine packages for the chevys. I dont know about the toyotas as much but wouldnt expect their engine to be cost effective for the DAKAR teams.
How may off road guys run GM power plants.....most, I say he sticks with the GM Body line, engine packages
mabey do a chevy Colorado body or something close to.