REPORT: General Motors in "intense" bankruptcy preparations

[Intrepidation]

According to an unnamed source speaking with Reuters, General Motors "is in 'intense' and 'earnest' preparations for a possible bankruptcy filing." The report states that GM could be split into two separate entities; one "new" unit consisting of the General's successful brands (read: Chevrolet and Cadillac) and an "old" unit made up of its less-profitable endeavors (Hummer, Saab, Pontiac and Saturn).

If the plan is enacted, the all-new GM would assume some of the debt from the bankruptcy (primarily, unsecured debt) and that GM's bondholders would lose a substantial amount of value if the Chapter 11 filings go through. Naturally, neither source wished to be named, so this is all conjecture at this point, but if GM does declare CH11 within the next month-and-half, expect the Feds to step in to avoid the cataclysmic effect on both suppliers and the economy as a whole.

Autoblog

[CSpec]

You beat me by 3 minutes.

[Northstar]

No mention of Buick... I wonder if they're still deciding whether to put them in the bad group or the good group... it seems like Buick belongs in the bad group to me, one because of constantly falling sales, or so it seems, and two because their product lineup can be absorbed into Cadillac, I think. I do feel like two brands is one too few, however. GM could use something between Chevy and Cadillac, but no brand seems to really be the perfect balance, Olds probably would have been a good brand to position between Chevy and Cadillac.

[G. David Felt]

GM in "intense" preparations for bankruptcy: source

Buzz Up Send

By Chelsea Emery and Soyoung Kim Chelsea Emery And Soyoung Kim – 44 mins ago

NEW YORK/DETROIT (Reuters) – General Motors Corp is in "intense" and "earnest" preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday.

A plan to split the corporation into a "new" company made up of the most successful units, and an "old" one of its less-profitable units, is gaining momentum and is seen as the most sensible configuration, said another source familiar with the talks.

The sources requested anonymity because they were not authorized to speak on the record.

Shares of GM fell almost 14 percent on the New York Stock Exchange and its bond prices declined.

If the plan goes through, the new GM would be expected to assume some previous creditor debt from bankruptcy proceedings, such as secured debt, said the second source, adding that GM bondholders were likely to lose substantial value in bankruptcy.

Certain GM dealer and litigation claims would also be hurt if the new company structure is used as part of a company bankruptcy, said the second source.

GM declined to comment.

GM Chief Executive Fritz Henderson has said the company prefers to restructure out of court but that it could go to court if needed.

GM, operating on $13.4 billion of government loans since the start of the year, has until June 1 to complete a reorganization plan. The government has warned that the alternative would be bankruptcy.

The company is under pressure to cut unsecured debt by two-thirds, turn half its remaining payments into a union healthcare trust in the form of equity rather than cash, and reduce hourly wages and benefits to match those paid by foreign automakers.

Chrysler, owned by Cerberus Capital Management LP, is also facing possible bankruptcy. The automaker has until April 30 to complete an alliance with Italian automaker Fiat.

Moody's Investor Service said in a note dated Monday that it maintains its view for a 70 percent risk of bankruptcy for Detroit's three automakers given the difficulty of restructuring out of court.

BANKRUPTCY NOT AN EASY ROUTE

Canadian Industry Minister Tony Clement said on Tuesday that the Canadian government must be prepared for GM or Chrysler to enter bankruptcy protection.

Some bankruptcy experts say a Chapter 11 bankruptcy filing could help GM reorganize by allowing it to restructure its debt and force changes to contracts with dealers, unions, and suppliers. But the process could be disruptive, or derailed, said Patrick Carothers, a partner at Thorp, Reed & Armstrong LLP.

For example, if auto-parts makers lose the ability to collect money owed, the industry as a whole could suffer. In addition, GM could lose control over its restructuring as the formation of a new company would be in the hands of a bankruptcy judge, not corporate executives or their advisers.

"The dangers of a bankruptcy are significant," said Carothers, who has parts suppliers and car dealers as clients. "I don't believe a bankruptcy is inevitable. There's still a lot of political pressure to save it."

GM shares were down 13.66 percent, or 31 cents, to $1.95 in midafternoon trading on the New York Stock Exchange, after reaching a session low of $1.95 earlier in the day.

GM's bonds were steady to slightly lower in late morning trading. GM's benchmark 2033 bond slipped, with the 8.375 percent bond trading at 12 cents on dollar, compared with 12.75 cents before the news came out, according to MarketAxess data. The bonds closed at about 11 cents on Monday, according to MarketAxess data.

Last month, GM offered bondholders 8 cents on the dollar in cash, 16 cents on the dollar in new unsecured debt, and a 90 percent stake in the automaker, one person with knowledge of the term sheet told Reuters.

(Reporting by Chelsea Emery in New York and Soyoung Kim in Detroit; Additional reporting by Dena Aubin, Walden Siew in New York; Editing by Derek Caney, Matthew Lewis, Toni Reinhold)

[G. David Felt]

Yup found the above on Yahoo web page about this also.

Weird that they say Pontiac and no mention of Buick or GMC. I drove last week on a trip from Seattle to Yosemite National Park. Everyone should visit, Damn that place is awesome. Along the way stopped and checked out dealerships when I stopped for gas and I never once found any Buick or Pontiac dealerships on their own, all were in the now what I would consider is a traditional GMCBP dealership.

So What about the rest of those dealerships? You cannot just cut out Pontiac and leave Buick and GMC, maybe you can but then GMC or Buick will need to bring in Performance auto's.

I would love to get an updated Syclone or even a new Typhoon. Imagen a new 3.6DI twin Turbo in a Terrain type package!

[Justin Bimmer]

Yup found the above on Yahoo web page about this also.

Weird that they say Pontiac and no mention of Buick or GMC. I drove last week on a trip from Seattle to Yosemite National Park. Everyone should visit, Damn that place is awesome. Along the way stopped and checked out dealerships when I stopped for gas and I never once found any Buick or Pontiac dealerships on their own, all were in the now what I would consider is a traditional GMCBP dealership.

So What about the rest of those dealerships? You cannot just cut out Pontiac and leave Buick and GMC, maybe you can but then GMC or Buick will need to bring in Performance auto's.

I would love to get an updated Syclone or even a new Typhoon. Imagen a new 3.6DI twin Turbo in a Terrain type package!

All around the Fresno area (Near Yosemite) The GM Dealers are BPG or more usually now. Some Chevrolet stand alones but usually not.

The sad thing is that GM right now is basically worse off than a bankrupt company. They are completely trapped and held hostage by their bondholders. The article where it links the bondholders to AIG was a great example of how badly damaged GM is right now.

[G. David Felt]

All around the Fresno area (Near Yosemite) The GM Dealers are BPG or more usually now. Some Chevrolet stand alones but usually not.

The sad thing is that GM right now is basically worse off than a bankrupt company. They are completely trapped and held hostage by their bondholders. The article where it links the bondholders to AIG was a great example of how badly damaged GM is right now.

Where at one time I did NOT want to think of GM as going Chapter 11, I am now thinking it might be the better option to truly make the rapid fast change needed to get the company right sided and out from under the debt and stupidity of past mgmt decisions including giving away the house with the interior fully furnished to the stupid UAW.

I do not blame the UAW for going after as much as they could get as it is their right to ask. I blame GM mgmt for giving in and the Union Reps for not being realistic in setting expectations. No union member should expect to earn high 5 or 6 figure income for a job of assembling on parts. The engineers in GM who design these auto's do not have the income or benefits the Union line people have. This really got messed up in the 80's for giving in to the unions.

Piss poor mgmt with the instant gratification and lack of long term planning and thinking is what got them into this mess.

[FAPTurbo]

So if the 'less-productive' brands are spun into a new company, what would happen to them? Would they be sold, or left to die? I'm not too knowledgeable about this sort of thing.

[Northstar]

So if the 'less-productive' brands are spun into a new company, what would happen to them? Would they be sold, or left to die? I'm not too knowledgeable about this sort of thing.

Left to die.

Basically, make one company called GM1, consisting of Cadillac and Chevy and other good assess. Make another company called GM2, consisting of Buick, Pontiac, GMC, Saturn, Saab, and Hummer, as well as whatever other bad assets GM currently has... both GM1 and GM2 would declare bankruptcy, but GM2 would declare Chapter 7, while GM1 would declare Chapter 11. Chapter 11 basically means the company stays together and a court (I am assuming the government in this case, however) overseas that the debts are repaid. In Chapter 7, basically the company has to sell itself to its creditors or anyone who it is in debt to... so basically GM would be selling off the bad parts which I have to assume would then just end up dying.

[Camino LS6]

A lot of pain 'round the bend no matter the outcome.

[CaddyXLR-V]

I don't see why GMC would be in the "bad asset" group since all their products make money.

Well technically, all of GM could be placed in the bad asset group. I doubt any brand is making money right now.

[wildcat]

Most of you seem to be forgetting that only a few days ago, Fritz Henderson told the Free Press they want Buick.

"Why on Earth would we rid ourselves of the Buick brand?" he said in response to speculation about the brand's future.

So stop putting your own spin on the story - nowhere does it say Buick is in the "bad" group.

Edited April 7, 2009 by wildcat

[Camino LS6]

Most of you seem to be forgetting that only a few days ago, Fritz Henderson told the Free Press they want Buick.

Well, as my dad used to say, people in hell want ice water too.

[wildcat]

Buick isn't responsible for your precious Pontiac ST being canceled. (If anyone, you should blame Chevy.)

I'd like to see everyone stop being so negative toward Buick

[z28luvr01]

The actual brand splitup between the two companies is at this point conjecture from Autoblog and therefore not complete. Obviously Chevy and Caddy are the "profitable" brands while Saturn, Saab, and Hummer are the "unprofitable" brands. All of BPG is in the air. I can't imagine them breaking it up since ihe brands are fairly consolidated. Either all of it will end up in "profitable" GM or all of it will end up in "unprofitable" GM.

This is gonna hurt no matter what.

[Camino LS6]

THe actual brand splitup between the two companies is at this point conjecture from Autoblog and therefore not complete. Obviously Chevy and Caddy are the "profitable" brands while Saturn, Saab, and Hummer are the "unprofitable" brands. All of BPG is in the air. I can't imagine them breaking it up since ihe brands are fairly consolidated. Either all of it will end up in "profitable" GM or all of it will end up in "unprofitable" GM.

This is gonna hurt no matter what.

Exactly.

[Camino LS6]

Buick isn't responsible for your precious Pontiac ST being canceled. (If anyone, you should blame Chevy.)

I'd like to see everyone stop being so negative toward Buick

Wow!

Do you ever have me wrong on this!

[Robert Hall]

So who was the last car maker to go through bankruptcy?

[Camino LS6]

So who was the last car maker to go through bankruptcy?

They tend to disappear when that happens...

[wildcat]

GM has already explained their intentions to decrease Pontiac's offerings and increase Buick's. It isn't necessarily to either keep all of BPG or get rid of all of BPG.

[Camino LS6]

GM has already explained their intentions to decrease Pontiac's offerings and increase Buick's. It isn't necessarily to either keep all of BPG or get rid of all of BPG.

Yes, yes it is.

If one goes, they all go.

Perhaps not at first, but very soon afterward.

BPG stands together, or dies.

[CaddyXLR-V]

I would think Pontiac and GMC, have more of a chance making it on their own, than Buick and GMC would. But that's just me. Car(Pontiac) and truck(GMC)

[Camino LS6]

I would think Pontiac and GMC, have more of a chance making it on their own, than Buick and GMC would. But that's just me. Car(Pontiac) and truck(GMC)

Only if Pontiac remains a volume brand, otherwise Buick is required.

In fact, moving Buick toward volume would allow Pontiac to finally be Pontiac for a change.

All or nothing is how I see it.

[wildcat]

By now, you both know Buick has the more global presence, a new vehicle due out this summer, etc. etc.

And you've read what GM itself has said about its intentions.

Stop being in denial.

[Camino LS6]

By now, you both know Buick has the more global presence, a new vehicle due out this summer, etc. etc.

And you've read what GM itself has said about its intentions.

Stop being in denial.

No denial.

Buick only matters in China in any measureable way, in North America it is completely moribund as a brand.

That's just fact.

Think of it this way:

In order for your hope of a re-invigorated Buick with lots of new offerings to happen, Pontiac has to slowly give up its volume to Buick. Kill Pontiac now and there will be no volume to carry Buick into this new role.

Buick needs Pontiac to get from A to B.

I'm fine with Pontiac as a niche brand within the BPG structure. In fact I see BPG as having the potential to rival Chevrolet in profitability (if not volume) if handled correctly.

This is not an issue of Buick vs. Pontiac, we are well beyond that.

Buick and Pontiac compliment each other quite nicely, but one must be niche and one must be volume. There is simply no way that the loyal buyers of either brand would move to the other- it just won't happen.

Buick needs Pontiac, and they both need GMC.

Mess with that, and all three are dead.

[G. David Felt]

Hummer, Saturn & SAAB is what really is the dead meat here and would become vapor. Caddy, Chevy and BPG would be the survivalists. After all you need an entery point, mid point and top end and these three give it, the others do not.

[wildcat]

Buick only matters in China in any measureable way, in North America it is completely moribund as a brand.

Buick will always matter in the U.S. It was the cornerstone of GM and a profit-maker for more than a century. That's "just fact."

In order for your hope of a re-invigorated Buick with lots of new offerings to happen, Pontiac has to slowly give up its volume to Buick. Kill Pontiac now and there will be no volume to carry Buick into this new role.

I understand what you're saying. I'm trying to give GM the benefit of the doubt, that they know what they're doing, that they've finally learned the lesson, etc. We'll see.

This is not an issue of Buick vs. Pontiac, we are well beyond that.

Glad to see you say that.

Mess with that, and all three are dead.

I don't think it's quite so cut and dried.

I'll say it one more time: Buick is not the enemy. I don't want them to get rid of Pontiac. And any problems which GM now has stretch over the entire GM portfolio, not just Buick, not just Pontiac.

[Camino LS6]

Hummer, Saturn & SAAB is what really is the dead meat here and would become vapor. Caddy, Chevy and BPG would be the survivalists. After all you need an entery point, mid point and top end and these three give it, the others do not.

Agreed.

And the mid is the sweet spot between volume and profit.

BPG could be a major force if GM had a clue as to how to get the job done.

[G. David Felt]

Agreed.

And the mid is the sweet spot between volume and profit.

BPG could be a major force if GM had a clue as to how to get the job done.

+2

If they did this right, they could have a complete stepping program for getting High school kids into their first auto at a chevy dealership and move right up the line into BPG and then Caddy and keep a customer for life.

Best of luck to them.

[Camino LS6]

Buick will always matter in the U.S. It was the cornerstone of GM and a profit-maker for more than a century. That's "just fact."

To GMNA's bottom line it currently means nothing, that's the problem

I understand what you're saying. I'm trying to give GM the benefit of the doubt, that they know what they're doing, that they've finally learned the lesson, etc. We'll see.

I have my doubts.

Glad to see you say that.

I mean it.

I don't think it's quite so cut and dried.

I do.

I would give a Pontiac/GMC only brand structure a wisp of a chance at survival, and a Buick/GMC only brand structure no chance at all.

Any way you slice it the chances are not good, but all three together make the most compelling case given the options.

I'll say it one more time: Buick is not the enemy. I don't want them to get rid of Pontiac. And any problems which GM now has stretch over the entire GM portfolio, not just Buick, not just Pontiac.

No one brand is the enemy, GM's mismanagement of them all is.

[Camino LS6]

+2

If they did this right, they could have a complete stepping program for getting High school kids into their first auto at a chevy dealership and move right up the line into BPG and then Caddy and keep a customer for life.

Best of luck to them.

It's simplicity is this notion's beauty.

That structure is all GM ever needed, and ever will need.

I love the idea that both Buick and Pontiac could feed Cadillac, one from the luxury/comfort side, and the other from the performance side, with Cadillac as the fusion of the two.

[vonVeezelsnider]

I don't see why GMC would be in the "bad asset" group since all their products make money.

Most of you seem to be forgetting that only a few days ago, Fritz Henderson told the Free Press they want Buick.

"Why on Earth would we rid ourselves of the Buick brand?" he said in response to speculation about the brand's future.

So stop putting your own spin on the story - nowhere does it say Buick is in the "bad" group.

To me it seems very clear. Cadillac and Chevy have a certainty of being in the "good category". I would think that GMC (Profitable) as well as Buick/Shanghai GM and GMDAT would be in that grouping as well, but there are no guarantees in my mind beyond Chevrolet and Cadillac.

[wildcat]

To GMNA's bottom line it currently means nothing, that's the problem

I don't have access to their financial statements, do you? Buick's success in China makes any expense for the NA market minimal.

I have my doubts.

My statements are based on GM's stated intentions, not my opinions.

I would give a Pontiac/GMC only brand structure a wisp of a chance at survival, and a Buick/GMC only brand structure no chance at all.

Thank you for your opinion. GM seems to disagree. There are those who give GM as a whole "a wisp of a chance at survival."

No one brand is the enemy, GM's mismanagement of them all is.

Then please direct your suggestions at GM's management, rather than calling for the dumping of any longtime GM brand into the dustbin.

[Camino LS6]

To me it seems very clear. Cadillac and Chevy have a certainty of being in the "good category". I would think that GMC (Profitable) as well as Buick/Shanghai GM and GMDAT would be in that grouping as well, but there are no guarantees in my mind beyond Chevrolet and Cadillac.

I agree to a point.

The givens as I see them:

Chevy

Cadillac

Buick China

GM DAT

Everything else is a "no" or an "if".

[Camino LS6]

Then please direct your suggestions at GM's management, rather than calling for the dumping of any longtime GM brand into the dustbin.

*sigh*

All progress lost.

I have Not called for any such thing.

Please re-read my post in question.

[gm4life]

Buick isn't responsible for your precious Pontiac ST being canceled. (If anyone, you should blame Chevy.)

I'd like to see everyone stop being so negative toward Buick

Welcome to Cheers and Gears if you think they are being mean to a damaged brand Buick, you should see what they say about Pontiac.

Sounds like GM is actually moving foward. As for BPG I figure they are safe for now. I think Pontiac will live even though the keep being placed in the "bad" group. Pontiac was GM's third best selling divison last month... Volume means something, I know it does. So Pontiac being put in the bad group is bull$h!! Time will tell.

Edited April 7, 2009 by gm4life

[gm4life]

Yes, yes it is.

If one goes, they all go.

Perhaps not at first, but very soon afterward.

BPG stands together, or dies.

Exactly.

[Intrepidation]

I would think that Buick is safest since it is important and profitable in China, which as I recall, is the second largest market. Neither GMC nor Pontiac exist outside of North America. Also, for the most part you can find their products at the Chevy dealership...and the only ones you can't, the Solstice G8 could be moved or discontinued.

Of course in an ideal world BPG would actually be one brand made of three divisions. GMC for trucks and SUV/CUVs, Pontiac for a coupel performance cars (G8, Solstice), and Buick for premium cars and one CUV.

However that requires money to invest to get the lineups right and advertise...something GM has none of.

We could very well end up seeing only Chevrolet and Cadillac, if GM manages to even survive.

[Camino LS6]

I would think that Buick is safest since it is important and profitable in China, which as I recall, is the second largest market. Neither GMC nor Pontiac exist outside of North America. Also, for the most part you can find their products at the Chevy dealership...and the only ones you can't, the Solstice G8 could be moved or discontinued.

Of course in an ideal world BPG would actually be one brand made of three divisions. GMC for trucks and SUV/CUVs, Pontiac for a coupel performance cars (G8, Solstice), and Buick for premium cars and one CUV.

However that requires money to invest to get the lineups right and advertise...something GM has none of.

We could very well end up seeing only Chevrolet and Cadillac, if GM manages to even survive.

Entirely possible.

GM's troubles are just that huge.

I think most of the confusion in this thread comes from mixing the fates of GMNA and GM as a whole.

Especially in Buick's case.

Without Pontiac/GMC, Buick would (at best) be relegated to a few China-built niche models in the back corner of the Cadillac store.

More likely, it would be China-only.

[wildcat]

you should see what they say about Pontiac

Then if you're a Pontiac fan, stand up for Pontiac. Lately there have been plenty of opinions expressed here and many fly in the face of what GM has publicly stated as its plans.

GM is facing some formidable challeneges, and, ironically, they brought much of it upon themselves.

I, for one, have never, ever called for Buick's survival at the expense of Pontiac, nor insisted that only "such-and-such" brand should survive and, if not, then they all should go. Buick isn't the problem at GM; GM in and of itself may be, however.

[gm4life]

Then if you're a Pontiac fan, stand up for Pontiac. Lately there have been plenty of opinions expressed here and many fly in the face of what GM has publicly stated as its plans.

GM is facing some formidable challeneges, and, ironically, they brought much of it upon themselves.

I, for one, have never, ever called for Buick's survival at the expense of Pontiac, nor insisted that only "such-and-such" brand should survive and, if not, then they all should go. Buick isn't the problem at GM; GM in and of itself may be, however.

Oh no I wasn't coming down on your just saying. I like Buick, prolly won't own one but like them. My aunt has a Lucerne CXL and that is a uber nice car, the new Enclave is great and so is the up coming LaX. BPG together is strong and is a nice alternative to Chevrolet, without one and I mean any brand it would be bad. I wouldn't want Buick to get the nix at the expense of Pontiac anyways.

[Camino LS6]

I, for one, have never, ever called for Buick's survival at the expense of Pontiac, nor insisted that only "such-and-such" brand should survive and, if not, then they all should go. Buick isn't the problem at GM; GM in and of itself may be, however.

Ah!

Now I see how you have misunderstood what I've been saying!

I am not saying that any brand (Buick and GMC) should die because another brand (Pontiac) dies.

I am saying that the other brands will die if they try to survive without the third.

[wildcat]

Some of your posts have been very anti-GM, starting when they dropped the Pontiac ST. Just look at your signature.

[Camino LS6]

Some of your posts have been very anti-GM, starting when they dropped the Pontiac ST. Just look at your signature.

Of course they have, I'm still pissed!

And I see lots of foolishness in recent decisions made by GM.

But my posts are rational and logical, and I do want GM to recover.

Do you now understand that I'm not advocating euthanizing Buick?

That I see it as an essential element in the survival of another pair of brands I have more affinity for?

Please understand that all of my posts in this thread are dead serious assessments of what I see as a solution for all of BPG.

I simply cannot see 2/3 of this sales channel surviving without the other third. No matter which third that is.

[Teh Ricer Civic!]

They could always pay out the profitible parts of GM as a dividend to the new CEO. The CEO can then resign (& pay a ton in taxes). Then the remaining company can file for Ch 11 (because Ch 7 will be denied for a company of this size) and once Ch 11 fails, they will go to Ch 7.

[Camino LS6]

They could always pay out the profitible parts of GM as a dividend to the new CEO. The CEO can then resign (& pay a ton in taxes). Then the remaining company can file for Ch 11 (because Ch 7 will be denied for a company of this size) and once Ch 11 fails, they will go to Ch 7.

Nah, that kind of treatment is reserved for the financial sector.

[wildcat]

Camino LS6: And to that last point, that it why I said I understand what you're saying and hope that GM (finally) gets it right. They have stated, among other things, that they will increase the number of Buick models while decreasing the number of Pontiacs. So at least they claim to recognize what the challenge is.

Your posts may be rational or logical (I'm not even addressing that), I'm merely saying that they seem to be contrary to GM's known and stated intentions. I'm trying to stay rooted in what they said during all this incessant restructuring.

:twocents: How about this: this is probably the last stand for all of us, as GM fans. Either they win... or lose it all. (The jury's still out on that LOL)

I want to go out in full support of GM and its longtime brands.

Have a good night; I fold my hand.

[Camino LS6]

OK Wildcat, we'll just let this go rather than clutter this thread any further.

But you still don't get what I've been saying, and it bugs me that I've been unable to explain it to you.

[vonVeezelsnider]

Entirely possible.

GM's troubles are just that huge.

I think most of the confusion in this thread comes from mixing the fates of GMNA and GM as a whole.

Especially in Buick's case.

More likely, it would be China-only.

Bingo. Its entirely conceivable in my mind that Buick be China-only. I wouldn't have said that 2 years ago but they've blurred those lines between Cadillac and Buick too much and the Cadillac brand has more equity both in North America and worldwide. A FWD SRX and the Escalade going Lambda seem to indicate to me that Cadillac models could easily replace the Buick ones currently sold here. Buick could be relegated to China as Holdens with some differentiation (China is a big market who's to say they can't have their OWN brand). Throw in a Epsilon II DTS and an Alpha STS and you've simply replaced the entire Buick lineup. I hate to say it as a BUICK FAN but I am a BUICK FAN second and a GM FAN first. I would be happy with almost any outcome as long as it involved Chevrolet and Cadillac surviving.

[gm4life]

Bingo. Its entirely conceivable in my mind that Buick be China-only. I wouldn't have said that 2 years ago but they've blurred those lines between Cadillac and Buick too much and the Cadillac brand has more equity both in North America and worldwide. A FWD SRX and the Escalade going Lambda seem to indicate to me that Cadillac models could easily replace the Buick ones currently sold here. Buick could be relegated to China as Holdens with some differentiation (China is a big market who's to say they can't have their OWN brand). Throw in a Epsilon II DTS and an Alpha STS and you've simply replaced the entire Buick lineup. I hate to say it as a BUICK FAN but I am a BUICK FAN second and a GM FAN first. I would be happy with almost any outcome as long as it involved Chevrolet and Cadillac surviving.

I agree.