General Motors ordered to be killed

This year will be inscribed in the history of the world automotive industry. Getting ready to sink into oblivion company legendary General Motors. This carmaker remained the leader in worldwide sales for over eight decades. However, huge debts, excessive social commitments, combined with falling demand led to the collapse of the auto giant. Today, U.S. authorities offered by the companies to prepare for bankruptcy. However, GM does not cease to exist physically. Its many assets will be sold. Russian factories are also of concern are likely to find a buyer. General Motors, the locomotive "Big Detroit Three", is likely to become bankrupt. As the newspaper writes New York Times, U.S. Treasury recommended that the auto giant still start preparing the documents necessary for filing a claim in bankruptcy court. According to the newspaper, GM could declare bankruptcy before June 1st. Earlier it was reported that the U.S. administration gives automakers a chance to develop crisis management plans just before the summer. However, the head of U.S. Treasury Secretary Timothy Geithner has already hinted at the possibility of a radical restructuring of debts GM - bankruptcy. However, the concern is burdened with huge debts: Liabilities to banks and bondholders of $ 28 billion, before Chrysler - $ 7 billion, among other things, General Motors should be $ 20 billion fund of social support for their former employees. GM has already received state aid amounting to $ 13.4 billion, and has requested another $ 16.6 billion for the restructuring. Given the challenges faced by American automakers in general and GM in particular, the U.S. authorities to decide a difficult question: how to deal with domestic automakers. After all, this industry is in a depressed state is not the first year. GM Problems emerged at least two years ago, reminded the Managing Director of AG Capital Investment Group Alexander Agibalov. Net loss for General Motors in 2008 was "only" $ 30.9 billion, while in 2007 it was $ 43.3 billion, however, a bankruptcy proceeding does not mean that the company would "literally wiped out all of its assets are sold, and it completely cease to exist ", - assured analyst at IFC" Metropol "Michael Park. Bankruptcy procedure in this case is more protected from the creditors of the company. Bankruptcy is necessary to cleanse the company of unnecessary assets, restructure its debt. Such a policy, apparently, will conduct a new management team, which will come to the company after the introduction of such a procedure. The probability that a car manufacturing concern will be fully lifted, not great, said M. Park. In fact, besides losing assets (primarily in the U.S. in North America) has a number of GM's long-term assets, including in Russia. In particular, a joint venture with AvtoVAZ (produces Chevrolet Niva), as well as the assembly plant in St. Petersburg. And, despite all the troubles, GM cars are the best selling in Russia. Thus, the market leader in our market in the past, in 2008 became the brand Chevrolet, owned by an American concern. Profitable assets, in principle, can exist by themselves, or in the hands of another owner, said an analyst at IFC "Metropol". The main issues with the bankruptcy of GM will be: in what form will remain the company and how they will repay the loan. Perhaps the first will attempt to find a "white knight" - an investor who takes care of all the company's problems as a whole, suggested A. Agibalov. But the most likely fate of General Motors will split the group and sell its various assets. The media is already there were reports of hunters for attractive assets GM. For example, China SAIC showed interest in the European division of General Motors. The organizer of the sale is the German Commerzbank, interested in saving the German-made Opel. Among other things, bankruptcy "unleashes" GM management to resolve the conflict with the unions, which played a significant role in the sorry state of the company, said Mr. Agibalov of AG Capital. That trade unions opposed the reduction of staff in order to optimize costs. Exorbitant social burden of American automakers in general, significantly worsened their position in time of crisis demand. Social component in the cost of every car GM - a few thousand dollars (this help pensioners and current employees), said A. Agibalov. This model proved to be ineffective. Japanese and Korean manufacturers whose cars are deprived of such a high social premium, beat American companies in their own markets, because they have lower costs. Set the "star» General Motors certainly will be an important event for the world automotive industry. Recall last year that concern 100 years ago (the company was founded in 1908). By the time of onset of the global crisis, General Motors brands owned Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saturn, Saab, Vauxhall, Wuling. Prior to the catastrophic for the company in 2008, the American concern kept the world leader in sales over the past 77 years. Company's plants produce cars and trucks in 34 countries. Largest market for GM is the United States, followed by China, Brazil, Britain, Canada, Russia and Germany. Daria Yurischeva