General Motors takes cue from Chrysler, registers gmrestructuring.com
As if we needed any more proof that GM is headed down the same path as Chrysler, the General reserved a space on the interwebs to publish information about its restructuring efforts. The automaker registered both gmrestructuring.com and gm-restructuring.com in April, and – like its Chrysler counterpart (owned by Epic Systems, Inc.) – the new domains could serve as an outlet for bankruptcy documents or GM-approved discussion about its resurrection post-Chapter 11. Although both sites serve up blank pages now, when GM's government-imposed June 1 D-Day arrives, expect the content to flow.
[Source: Reuters | Image Source: Bill Pugliano/Getty]
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Reader Comments (Page 1 of 1)
jpm100 9:06AM (5/18/2009)
Could be either squatters & detractors or to prevent squatters & detractors.
Reply
Rich 9:32AM (5/18/2009)
Errrr, not the former:
$ whois gm-restructuring.com | grep -A 6 "Administrative Contact"
Administrative Contact:
Domain Name Administrator
General Motors Corporation
300 Renaissance Center Mail Code 482-C23-B21
Detroit MI 48265-3000
US
domainname.admin@gm.com +1.3136654967 Fax: +1.1111111111
Also, not the latter:
$ whois gm-restructuring.org
NOT FOUND
Please do try to keep up.
K Smith 9:35AM (5/18/2009)
It actually is registered by GM:
Registrant:
Domain Name Administrator
General Motors Corporation
300 Renaissance Center Mail Code 482-C23-B21
Detroit MI 48265-3000
US
domainname.admin@gm.com +1.3136654967 Fax: +1.1111111111
Domain Name: gmrestructuring.com
Registrar Name: Markmonitor.com
Registrar Whois: whois.markmonitor.com
Registrar Homepage: http://www.markmonitor.com
Administrative Contact:
Domain Name Administrator
General Motors Corporation
300 Renaissance Center Mail Code 482-C23-B21
Detroit MI 48265-3000
US
domainname.admin@gm.com +1.3136654967 Fax: +1.1111111111
Technical Contact, Zone Contact:
DNS Technical Contact
EDS NNAM
800 Tower Drive MS 4258
Troy MI 48098
US
dnsmaster@eds.com +1.2482655000 Fax: +1.1111111111
Created on..............: 2009-04-06.
Expires on..............: 2011-04-06.
Record last updated on..: 2009-05-01.
Jei 9:37AM (5/18/2009)
GM is prepping for either side of their June 1 deadline. It would be nice for them to have to write on June 1st, "Sorry, we didn't go bankrupt...see our normal business site....chumps!"
But we all probably know that a GM bankruptcy is maybe the only way their complex business structure can be untangled and reorganized into a leaner (stronger & smaller) auto giant that will continue operating its international business in various forms.
This bankruptcy is necessary and will be extremely painful as GM will be forced to take many actions that should've been done years ago and some that must be done due to the declining economy. It will make Chrysler's bankruptcy look like a simple pre-test for the real ECON exam.
Avinash machado 9:08AM (5/18/2009)
So perhaps bankruptcy is imminent.
Reply
Geeky1 9:28AM (5/18/2009)
And once more, Washington has spent billions of $ to accomplish absolutely jack squat. Billions that will come out of the pockets of every tax-paying American reading this.
Bankruptcy for both GM and Chrysler was a foregone conclusion, anybody that couldn't see this coming last year was blind. Idiots, all of them--and that's not a jab at the Obama administration exclusively, congress and the previous administration are just as guilty. Nice job, jackasses. Bravo.
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Rich 9:38AM (5/18/2009)
Awww, "Americans". I'm crying for you. What about the millions upon millions who depend upon GM for work and who are paying through the tax-flavored nose in other countries besides? GM is not an American company: it's international.
Besides, what makes you think we'd be paying any less if they'd been left to slide last Christmas? It shouldn't need to be said again that a bankruptcy of a company this size, in so many markets, costs a hell of a lot of money.
Then there are the suppliers. They've been given chance to shore up their businesses. Ford has been given a chance to survive this mess, which it wouldn't, had it come last Christmas.
Grow up, and leave petty politics out of it.
Tony 9:48AM (5/18/2009)
Yup, prepare to bend over. The governments of the US and Canada are not listening to the average citizen, they are listening to the high price CEO's and lawyers who run the country, let alone their respective companies. An according to a recent autoblog, Chrysler executives have already figured out how to pay themselves more than the allowable $500,000.00 a year compensation cap. They are now Fiat employees! Didn't see that one coming did ya? This is just the start. We the people will be paying for these companies for years to come. Every time the union bleeds the company dry, we the people will refill the coffers for them.
Geeky1 10:51AM (5/18/2009)
"What about the millions upon millions who depend upon GM for work..."
I'm sorry, when did the welfare of other people become a concern of mine so pressing that it requires financial investment on my part? What makes them any different from anyone else? Think anyone cares if I lose my job or if you lose yours? Hell no they don't. It sucks for those affected, but you know what? Life's not fair. They got shafted. Sorry.
You're absolutely right that it has the potential to have a tremendous effect on the world economy. Have you ever stopped to consider that maybe some short term pain is required to get things back under control?
Also, I get the feeling from the tone of your post that you're one of these people that think that bankruptcy is the end of the line. If an organization is filing for ch.11, it's not. How many airlines that have gone bankrupt in the past decade are still around, providing the same lack of quality service and customer care they did before they went bankrupt? Exactly. It's not like everyone that works for GM and Chrysler would have lost their jobs had they gone bankrupt last year any more than it is that they will now.
bakka 9:50AM (5/18/2009)
Who pays for the Iraq invasion? Santa Claus?
Nope. Taxpayers. Taxpayers pay for EVERYTHING.
Reply
Made in USA 10:21AM (5/18/2009)
Here we go again mentioning labor unions as the culprit in the bankruptcy of automakers. The same person mentioned mentioned executives figuring out how to pay themselves more than the $500,000.00 / year allowable pay cap. So who really is bleeding the car companies dry - management or unions? The people that mentions unions as the culprit are so far out of the loop, they should do more research before they comment. The costs that the companies are reeling from are the so - called legacy costs from hourly employees retirement pensions. Who was in charge of funding the retirement pension accounts? The corporations - they have been underfunding these accounts for years - even when they were in prosperous times.
If unions were the sole problem with the auto industry today, every domestic automaker would be in dire straits. Toyota is touted as non union and they are making cuts to adjust to the economic downturn as well.
I would like to see these companies rebound and prosper once again. A lot of people's livelihoods are at stake. Hopefully management can set greed and profit sharing aside and focus on what they do - build quality cars that people want to spend their hard earned money on.
Reply
jamie 11:29AM (5/18/2009)
Okay, I have been crunching some numbers over the weekend, and I do not believe that GM's current restructuring plan is in any way shape or form a viable enterprise any longer.
GM sold 173,007 cars and trucks in April 2009.
Extrapolating that figure over 12 months and GM will sell about 2,076,000 vehicles this year in North America.
For each dealer to remain profitable, they need to sell about 1,000 vehicles per year. That would seriously reduce GM's dealership count 75% to about 2,000 from the current 6,000+ figure.
GM has the capacity with 22 odd assembly plants in NA to produce about 6,000,000 vehicles annually. This also must be reduced 75% to about 5 or 6 assembly plants producing 360,000 units per annum. This ain't happening now, and it isn't likely to occur either.
GM is not taking seriously enough the steep decline in its sales vs production figures. GM has to shrink the entire company by 75% to fully realign itself with the current market conditions.
But will GM be able to sustain its operations at such an extremely low level? The answer is, NO! It will be facing the same problem that Chrysler is facing today. GM needs a partner in order to survive, be it Fiat, Toyota or whatever.
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JOe 11:43AM (5/18/2009)
Don't you guys see that the banking crisis had a huge influence on the eventual declaration of bankruptcy of GM and Chrysler(maybe Ford)? You are talking about home owners who've gotten screwed over by their mortgage agreements. These people in the US can not pay for luxury items as a new and luxurious automobile.
Instead of blaming it entire on greedy executives, who will not give up their 500K/year lifestyle, and Unions, who won't negotiate their health care pensions, why not consider more factors; like banks that won't loan money to consumer and bail-outs to wall street which will leave a big black hole of debt for future generations to come.
The big storm coming over the horizon, the manufactoring capability of cars will be shipped to India, China and other cheap labour nations. GM and Ford were already preparing for this years ago. A new state of the art plant was created by Ford in some foreign country just this month. And GM has stated publicly that, by 2011 20K cars will be produced in Chinese plants. It is evident by GM and Ford's maneuvers, that cheap cost will always win in the end. And that Americans will get the short end of the stick.
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whofan 7:57PM (5/19/2009)
You have many good points and unfortunently I think you maybe right.
These companys must also consider that the more jobs they send out of country the more they are wittling down their customer base.
Henry Ford realised people have to make a good wage to buy his product so he started the $5.00 a day pay.
The rich will find out, prosperity needs the middle class.
I really shun people who choose to drive foriegn cars due to the importance of the domestic auto industry.
Now if our domestic auto industry moves the majority of its labor overseas then it really wont matter what make you drive.