Smokey and the Bandit would not be happy about this one.

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GM to cut 21,000 US factory jobs, shed Pontiac

AP – In this April 3, 2009 photo, prospective buyers look over a 2009 Solstice convertible in the Pontiac … By TOM KRISHER and KIMBERLY S. JOHNSON, AP Auto Writers Tom Krisher And Kimberly S. Johnson, Ap Auto Writers – 7 mins ago
DETROIT – General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take stock in exchange for half GM's government debt as part of a major restructuring effort that would leave current shareholders holding just 1 percent of the company.

The struggling automaker said it will offer 225 shares of common stock for every $1,000 in notes held by bondholders as part of a debt-for-equity swap that aims to retire most of GM's $27 billion in unsecured debt.

The announcements came in a filing Monday with the Securities and Exchange Commission.

GM is living on $15.4 billion in government loans and faces a June 1 deadline to restructure and get more government money. If the restructuring doesn't satisfy the government, the company could go into bankruptcy protection.

GM said in a news release that it will ask the government to take 50 percent of its common stock in exchange for canceling half the government loans to the company as of June 1.

The first time I made it to 3rd base was in a Pontiac Fiero.

Pontiac killed pontiac. Look at the 67 Lemans. Then look at the 1993 Lemans. What kind of utter cataclysmic failure was that!!! Your going to remake a Lemans which was a good contender back in the day, out of something like a cross between a Nissan Sentra and 85 Dodge Omni??? What the fuck is that shit?!!! It had a cruddy 2.0 liter that leaked more oil than you could change in 3 months. Look at the JUNK they've shoved down our throats.

Ok off my soapbox!

The problem GM had was that it had all these legacy brands (Pontiac, Olds, Buick) that it acquired over the years through acquisitions of other carmakers. In order to reduce its costs, it started making the same shitty model of car and then would slap a Chevy or Pontiac or Olds nameplate on it. What you ended up with was a bunch of shit with different names on it.

All I gotta say is Pontiac AZTEK. WTF?

Pontiac AZTEK: Designed by Committee; Driven by Greed.

Aztek Ruins Wrote:
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> All I gotta say is Pontiac AZTEK. WTF?


Separated at Birth:



It took quite of lot of doing to design an SUV that wouldn't sell back in the early 2000s.

It's too bad they didn't have anymore of the Antarctic Blue Super Sports Wagon.

I heard GM is also trying to get rid of Saturn...GM isn't going to have much left over.

Furfur Wrote:
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> I heard GM is also trying to get rid of
> Saturn...GM isn't going to have much left over.


Saturn was always a PR stunt. GM tried to repeat the success of Toyota and Honda by producing its version of a Japanese car...a loud and uncomfortable but reliable roller skate. Of course, GM was imitating the Japanese cars of the 1960s.

The only 2 GM brands that are safe, unless GM goes completely under, are Chevrolet and Cadillac.

That sucks for all the pontiac owners.

I guess GM finally figured out that pumping out the same product (from the same assembly lines) across 3 brands (there were some Chevy/Oldsmobile/GMC Truck) models that were exactly the same isn't the best idea.

I wouldn't surprise me if they also ax GMC Truck since most every GMC Truck model can be found in a Chevy.

General Motors fucking murdered Saab. I hope it reverts back to Swedish ownership.

Saab 9-7x...WTF? Chevy Trailblazer with Saab grill.

Rumor is that they will consolidate the brands and come up with a new branding. Maybe ChevMobile

I never owned a GTO but one of my friends did. Once he fixed me up with
his girlfriends cousin and we went for a ride. I never drove it but I'll
never forget the back seat.

http://www.youtube.com/watch?v=44kg0IENTPU

Bye Pontiac. I'll never forget you.

Say good-bye to the Hummer and Saab in addition to the Pontiac. Long over due. They deserve everthing they get for years of poor business decisions.

Saab is poised to be purchased by private equity. They can at least re-create their market here and in Europe.

Hummer is done, however. I wish they added Buick to the phase-out list too, but unfortunely, seniors need something that makes them feel, well, old again.

SBS Wrote:
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> The only 2 GM brands that are safe, unless GM goes
> completely under, are Chevrolet and Cadillac.


"Wouldn't you really rather have a Buick?"

The answer is...no.

Snaab Wrote:
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> Saab is poised to be purchased by private equity.
> They can at least re-create their market here and
> in Europe.
>
> Hummer is done, however. I wish they added Buick
> to the phase-out list too, but unfortunely,
> seniors need something that makes them feel, well,
> old again.


I China Buick is actually a status symbol. Go figure that one out. I doubt they'd want to shut down a brand with such growth potential in China.