Pontiacpedia.org » pontiac dead http://www.pontiacpedia.org Pontiac blog Thu, 03 Nov 2011 14:15:04 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 GM Has Shed Pontiac after 83 Years, Cutting 21,000 Jobs http://www.pontiacpedia.org/gm-has-shed-pontiac-after-83-years-cutting-21000-jobs http://www.pontiacpedia.org/gm-has-shed-pontiac-after-83-years-cutting-21000-jobs#comments Mon, 27 Apr 2009 13:52:48 +0000 admin http://www.pontiacpedia.org/?p=134 Somewhere, the original KITT and the Firebird from Smokey & The Bandit are huddled in a corner crying. Today is a sad day, as this morning GM announced after over 8 decades in business they will be slashing Pontiac. Assembly lines across North America will cut upwards of 21,000 jobs this May (that includes both white and blue collar workers) – and 50% of GM stock (in the form of bond holders) will be Government influenced. Looks like General Motors is going socialist! It also looks like 3 more plants will close by the end of 2010. Yikes. GM CEO Fritz “The Slasher” Henderson also stated in a press conference earlier today that bankruptcy is still highly probable.

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According to Detroit News: General Motors says it will cut 21,000 U.S. factory jobs by next year and phase out its storied Pontiac brand as part of a major restructuring effort needed to get more government aid.

General Motors Corp. launched its bond exchange offer this morning to its holders of $28 billion in unsecured debt, offering them 10 percent of the equity in the company and accrued interest — in an effort to avoid a bankruptcy filing before the end of May.

GM also confirmed the morning it plans to phase out its 83-year-old Pontiac brand by 2010, while it plans a final resolution for its Hummer, Saab and Saturn brands this year.

]]> http://www.pontiacpedia.org/gm-has-shed-pontiac-after-83-years-cutting-21000-jobs/feed 2 Good Night, Sweet Pontiac http://www.pontiacpedia.org/good-night-sweet-pontiac http://www.pontiacpedia.org/good-night-sweet-pontiac#comments Fri, 24 Apr 2009 19:10:15 +0000 admin http://www.pontiacpedia.org/?p=128 Rumors are crawling across the Internetz today that General Motors is (apparently) going to order the axing of old school brand Pontiac as early as next week! The idea that Pontiac may be on the chopping block has been an on-again / off-again theory within the auto industry for months. Now it looks like the time has actually come. Good night, sweet Pontiac, and may a flock of angels sing thee to thy grace. Full details in the Automobile Mag article below.

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The rumors of Pontiac’s death may not have been so greatly exaggerated this time around.

Inside Line reports it has received word from a source within GM that Pontiac will be axed, the victim of the Detroit automaker’s “faster, deeper” reorganization plan. It was rumored last week that Pontiac would be killed off, along with GMC, but GM issued a statement vehemently denying those reports, repeating its four-core-brands-plus-Pontiac-as-niche mantra.

Inside Line’s source claims that Pontiac hasn’t escaped the noose this time, however, because it is the easiest brand for GM to eliminate: most Pontiac dealers have already been consolidated to Buick-GMC-Pontiac, so losing Pontiac would close few dealers. Details on “faster, deeper,” including the alleged announcement of Pontiac’s death, are supposed to emerge on Monday.

Inside Line called a PR representative for GM, and he was predictably cryptic. “There’s nothing I can share with you at this time. Keep your eyes on our media site. Officially, nothing has changed with Pontiac’s niche-brand status, until you hear differently.” Sounds “officially” negative to us.

Bottom line: hurry up and get those G8s while they’re still around. If this is true, they’re going to be selling at fire-sale prices.

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