Webcast of GM's revised viability plan 4/27/2009

[GM_Fan]

FOR RELEASE: 2009-04-26

MEDIA ADVISORY: GM President and CEO Fritz Henderson to Update Media on Revised GM Viability Plan

Detroit, Mich.(NYSE: GM) - General Motors President and CEO Fritz Henderson will host a press conference on Monday, April 27, to update the media on GM's revised viability plan.

The press conference will run from 9 to 10 a.m. EDT in the Renaissance Conference Center located in Tower 300, Level 2, of the Renaissance Center in downtown Detroit.

In addition to Henderson, Ray Young, GM executive vice president and CFO; Troy Clarke, group vice president and president, GM North America; and Mark LaNeve, GMNA vice president, vehicles sales, servicing and marketing, will be available for questions.

The satellite feed for the press conference is:

* Satellite: AMC 15
* Transponder: K3
* Downlink: 11740 Vertical
* Audio: 6.2/6.8
* Analog, Ku Band

A listen and Q&A line will be available for media:

* 800-288-8975 (U.S.)
* +1-612-332-0228 (international/caller-paid)
* No access code is requireds

The press conference will also be webcast at http://media.gm.com. The webcast will be archived at the site for replay after 1 p.m. EDT on April 27.

A conference call for financial analysts and the media will be held on Monday, April 27 at 12:30 p.m. EDT. The call will be hosted by GM President and CEO Fritz Henderson and GM Executive Vice President and CFO Ray Young. They will provide brief remarks, followed by a question-and-answer session for analysts. (Media will be in a listen-only mode.) The call is expected to last approximately 60 minutes.

To access the conference call, please dial 800-913-1647 (or +1-212-231-2902 for international access) 15 minutes prior to the start time and ask to be connected to the General Motors conference call. A taped replay of this call will be made available from 3:00 p.m. ET, April 27, 2009, until 3:00 p.m. ET, April 29, 2009. Please dial 800-633-8284 (or +1-402-977-9140 for international access) and enter reservation number 21423011 to access the taped replay.

We will also webcast the conference call live on our investor website http://investor.gm.com in Calendar/Events in the Recent Events section. A replay of the webcast will also be made available for 30 days.

[SRG963]

Damn, not good news for the G8 :(

"Phased out by the end of this year"

[TouchOfGray]

Also shutting down production in OZ... :-(

[SRG963]

No more boatloads of G8 coming for the 2009 Model year. Whatever is at the dealerships or in transit to the dealerships is it.

[GM_Fan]

It's a sad, sad, day for Pontiac people.

[Devilish34]

:hang: Thanks O I guess you're tired of all those Hemis getting their asses kicked...

[bobyoung]

Sucks

[chiller2484]

this really blows. now i bet the price for all the g8's that are on dealer lots will skyrocket since they will be some of the last ones. guess i'll never get one... :(

[GM_Fan]

A fellow member on another board thought that I was over the top about GM killing Pontiac. I mention how Pontiac people won't easily embrace other GM brand products because they bought a Pontiac because it wasn't a Chevy, Buick or Olds.

Here is the post from that board:


Fortunately, something like 95% of all people making statements like "I'll never buy anything from Company XYZ again!" really mean "I'm mad and want to vent!" and the length of "never" becomes relatively short once the anger fades a little...



Well, you have to consider all the dealerships that will be out of business and the people who bought all their cars and most likely GMC trucks there. It's going to be hard selling GMC trucks and a couple Buicks and stay in business. So thousands of dealerships that sell those GMCs and Buicks will also close their doors. Guess what, GMC trucks and those Buicks aren't going to sold either. Over a couple years even more dealerships will probably fold.

When it comes time to buy another car you can be assured they will remember their last experience with GM. It might be out of GM's hands, but you have to also be logical and realize that there is an even bigger picture and more than just Pontiacs won't be sold. People who buy Pontiacs, GMC trucks and Buicks will start cross shopping other manufacturers in their own market as opposed to driving untold miles to find another Buick/GMC dealer.

I'll bet that 95% number is well off of who will return to a GM product. Not hating here, just my personal observation of potential long term consequences.

[DQGTO]

No more boatloads of G8 coming for the 2009 Model year. Whatever is at the dealerships or in transit to the dealerships is it.

Is this true? I see that they mention 2010 also. So whats the scoop? I figured theyd be shippin in whats left as POS Fritz asshole said that GM would help OZ get rid of their inventory

[96Prix]

I mention how Pontiac people won't easily embrace other GM brand products because they bought a Pontiac because it wasn't a Chevy, Buick or Olds.


Couldn't agree more. I'm out the door without Pontiac. His 95% might be true with things like beer, shoes and grocery stores, but not with a major investment like that. Burn someone that handed you $30,000 and they'll never look back.