AboutThatCarBlog.com

It looks like GM is headed for a quick rinse bankruptcy. Still, loads of investors are going to get doused.

In a statement that more or less told speculators to trade in GM stock at their own risk the automaker said the following:

GM management has noticed the continuing high trading volume (in) GM’s common stock at prices in excess of $1. GM management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios.

Stockholders of a company in chapter 11 (bankruptcy) generally receive value only if all claims of the company’s secured and unsecured creditors are fully satisfied. In this case, GM management strongly believes all such claims will not be fully satisfied, leading to its conclusion that GM common stock will have no value.

Frank S. Washington

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Crystal L. Windham, (35) has been appointed Director of General Motors North American Passenger Car Design. Windham is the first African American woman to hold the position.

She is now responsible for the interior design of GM North America’s global midsize cars, global compact cars, and global small cars.

Windham, a lead designer on the 2008 award winning Chevy Malibu, began her career at GM North America Design in 1994 and has held assignments across brand studios, including an International Assignment at Germany’s Adam-Opel.

“A mentor guided me towards automotive design,”? she said. “Without guidance and support from family and co-workers, I wouldn’t be where I am today. I hope other young women will look to what I have done and be inspired to consider automotive design.”

Women either outright buy or have the deciding say-so in about 80 percent of the vehicles purchased in this country. It’s about time, more of them, especially sisters have a say so in how the vehicles they purchase look.

Frank S. Washington

Popularity: 1% [?]

PRESS RELEASE

Rather than power the buzzword in today’s auto industry is mileage as in how far can you get on a tank of gas. For all its troubles, GM is doing a pretty good job. Still, the automaker is having trouble getting its fuel sipping message out. Here’s another press release that probably won’t get much ink.

DETROIT – For 2009, General Motors offers 18 models in the U.S. that get 30 miles per gallon on the highway, more than is expected of any other automaker. They include cars, crossovers and SUVs from GM’s Chevrolet, Pontiac and Saturn brands.

Chevrolet, GM’s largest brand, leads with eight, along with five each from Pontiac and Saturn. Four-cylinder, six-speed models of the Chevrolet Malibu and Saturn Aura lead among non-hybrid midsize sedans with 33 mpg highway, along with the Pontiac G6. The Chevy Cobalt XFE and Pontiac G5 XFE win among non-hybrid, gasoline-fueled subcompacts at 37 mpg highway.

Here are the models, along with their EPA-estimated highway fuel economy:

Chevrolet: Aveo sedan, Aveo5 (34 mpg with automatic or manual); Cobalt coupe and sedan (30 mpg for SS Turbocharged; 33 mpg for 2.2L automatic); Cobalt XFE (37); Malibu 2.4L (30 mpg with four-speed automatic; 33 mpg with six-speed); Malibu Hybrid (34), HHR (30 mpg with 2.2L and automatic or manual) and HHR Panel (30 mpg with 2.2L and automatic or manual).

Pontiac: G5 (33 mpg automatic, 35 mpg manual); G5 GT (32 mpg automatic, 35 mpg manual), G5 XFE coupe (37); G6 2.4L sedan (30 mpg with four-speed automatic, 33 mpg with six-speed); Vibe (1.8L model, 31 with automatic, 32 mpg with manual).

Saturn: Astra 5-Door; Astra 3-Door (all 30 mpg with automatic, 32 with manual); Aura four-cylinder (33); Aura Hybrid (34); and Vue Hybrid (32).

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