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The person asked not to be identified by name because discussions are still under way with the U.S. and Canadian governments and there is a small chance that the company could avoid a Chapter 11 filing.

The company said in a statement that it offered bondholders 10 percent of the stock in a newly formed GM, with warrants to buy up to 15 percent if the bondholders agree to support selling the company’s assets to a new company under bankruptcy court protection.

The company made the disclosure in a filing with the U.S. Securities and Exchange Commission.

The filing says if the bondholders don’t agree to support the sale, then the amount of stock and warrants they get would be substantially reduced or eliminated.

Under the proposal, which has a deadline of 5 p.m. Saturday, GM would at some point enter bankruptcy protection and its good assets would be separated from bad ones.

The U.S. Treasury would get 72.5 percent of the new company’s shares, while a United Auto Workers’ retiree health care trust fund will get 17.5 percent and the old GM would get 10 percent.

The bondholders’ stake would presumably be additional shares that would dilute the first batch issued by the new company. The UAW trust and others would get warrants for additional shares that would further dilute the stock.

A bondholders committee and other large debtholders agreed to the deal but still called it unfair. They collectively hold about 20 percent of GM’s unsecured debt.

The deal would wipe out GM’s $27 billion in unsecured bond debt, converting to equity a total of $50 billion in company debt.

The person familiar with the GM plan said that if the deal goes through, the new GM would emerge with a total of $17 billion in debt — $8 billion owed to the U.S. government, $2.5 billion to the UAW trust and $6.5 billion in mainly overseas and capital lease debt.

It was unclear what would happen to the GM’s current $6 billion worth of secured debt, but the person said the U.S. government will provide financing to operate the new company and for the old GM to be liquidated.

Trading of GM shares was halted for a short time Thursday morning, but resumed to rise 3 cents to $1.19 in midday trading.

Plant Closures Expected

The troubled auto giant also is expected to identify 14 factories it will close by the end of 2010 as part of its restructuring plan, according to a person briefed on the plans.

Factory-level union leaders have not yet been told which plants will be shuttered, but four vehicle assembly plants will be among those to be closed, along with parts stamping, engine and transmission factories, said the person, who asked not to be identified because the plans have not been made public.

GM has said it plans to close 16 more U.S. factories by the end of next year, shedding 21,000 jobs. Two have already have been announced — an engine plant in Massena, N.Y., and a parts stamping plant near Grand Rapids, Mich.

United Auto Workers union officials in Detroit have been telling plant-level officials that the company will make the announcement rather than the union, according to the person.

General Motors Corp. dealers across the nation begin getting word from the company on whether they will be cut.

General Motors Corp. on Friday told about 1,100 dealers, or nearly 20 percent of its U.S. network, that they will be fired by the automaker late next year because their sales are weak.

GM’s announcement is more bad economic news for dealers, communities and businesses still reeling from Chrysler’s similar nationwide dealer cuts a day earlier. Both automakers are scrambling to reorganize and stay alive in a severe recession that has devastated sales of cars and trucks.

The cuts are part of a larger GM plan to drop 2,600, or nearly 42 percent of its 6,200 dealerships as the automaker tries to restructure outside of bankruptcy court and become profitable again. Thousands of jobs will likely be lost and governments will lose untold dollars in tax revenue as dealerships are forced to close.

Besides the 1,100 dealership cuts, the company will provide updates to about 470 Saturn, Hummer and Saab dealerships on the status of those brands, which it plans to sell.

Friday’s cuts will not be the last. GM said it expects to lose more dealers through attrition. Ultimately, about 90 percent of the remaining dealerships will stay with GM, the company said.

Both Chrysler and GM say they are cutting the number of dealers because they have too many outlets that are too close to each other, and the competition drives down prices. But as the ranks of dealers thin and competition decreases, that likely will mean higher prices for car and truck buyers.

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As GM and Chrysler lost market share to Japanese and other overseas brands, the automakers, as well as Ford Motor Co., ended up with too many dealerships. Many are barely getting by and can’t afford to upgrade their facilities or hire the best personnel to compete with the Japanese, who have far fewer dealerships.

In the 1980s, GM, Chrysler and Ford controlled more than 75 percent of U.S. sales, but that dropped to 48 percent last year. GM alone held nearly 51 percent of the market in 1962, but only 22 percent last year.

GM likely will go into bankruptcy protection on June 1, 2009 but it’s starting to negotiate deals ahead of the filing to speed up the Chapter 11 process.

Colorado dealerships are on edge this week, waiting for word from GM and Chrysler as to which ones will be forced to close.

General Motors has received $15.4 billion in federal loans, and the government deadline to restructure or seek Chapter 11 protection is just over two weeks away. But the company must reach concessionary agreements with unions, persuade thousands of bondholders to exchange $27 billion in debt for 10 percent of GM’s stock, cut thousands of dealers, close plants and lay off more salaried workers.

Under Chapter 11 reorganization, a company can stay in operation under court protection while sheds debts and unprofitable assets to emerge in a stronger financial position.

Under a capital structure proposed by GM but still under negotiation, the U.S. government would get 50 percent of the company for its loans. GM has said it will need another $2.6 billion in May and $9 billion more for the remainder of the year.

A UAW-run trust that will take over retiree health care costs starting next year, would get 39 percent of the stock in exchange for half of the $20 billion the company owes the trust.

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I, like so many people who have been following General Motors’ fortunes for some time, am wondering what the company’s long term plan of action is in the face of historic losses, plant closings, and unrelenting and widening competition. Besides the U.S. job cuts, General Motors Canada said it plans to slash its hourly work force to from 10,300 currently to 4,400 by 2014 years.

Quite frankly, the North American market is currently unprofitable for the company while GM holds its own, even thrives, in many markets beyond our borders.

File For Bankruptcy? — It is time to play hardball with recalcitrant unions and government authorities who don’t understand that GM is playing on an uneven field. Toyota, Honda, Nissan, and Hyundai all build cars in the U.S. None of them are saddled by huge legacy costs, i.e. health and pension benefits, local tax burdens, etc. Yes, GM negotiated their contracts in good faith, however the market has changed tremendously over the past several decades and is wholly unfavorable to the way GM has been doing business since then. In addition, GM often operates at a disadvantage in foreign markets as local laws limit their ability to effectively sell their vehicles.

Build Small Cars — The need to build small cars is now and the future for GM.

The Divisions Many think that GM has too many divisions, I agree. Can GM keep selling what works for them in the past or new direction needed for GM?

1. Cadillac – GM’s luxury division is riding high and no changes need to be made. Keep producing distinguishable high quality luxury cars and Cadillac will continue to compete against the likes of Lexus, Mercedes, BMW, and Infiniti. Cadillac outsells Lincoln by more than 2 to 1 and the division performs well in all consumer quality and satisfaction surveys.

2. Buick – As the “near luxury” division for GM, Buick must create a viable alternative to Cadillac without sacrificing quality or confusing consumers. Bring back in a “halo” model like the Regal to show Buick’s youthful side.

3. Pontiac – April 27, 2009, GM To Cut 21,000 US Jobs, Shed PontiacGeneral 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. (Pontiac’s performance image is gone for good.)

4. Chevrolet – Keep up what you have, but rely on imports to fill the lower end of the market. Redo the Impala to help it compete successfully against the Chrysler 300, Toyota Camry, and Honda Accord. Yes, keep the Camaro!

5. Saturn – Moving in the right direction, Saturn should chiefly sell cars that are Opel inspired. Give the car a more European flair and the division will succeed. The Sky is a knock out and the Opel inspired Aura is a vast improvement over the old “L” Series model. Keep the strong dealer network in place and Saturn will compete successfully against Hyundai, Honda, Toyota, Nissan, and others.

6. Saab – GM’s Swedish division is floundering and may be cut. Better yet, let the division sell upscale versions of Opel models and please do not throw out the Swedish touch: safety and durability. Unfortunately, GM hasn’t been as kind to its Swedish company as Ford has been to its Volvo subsidiary.

7. GMC – Between Chevy and GMC, no manufacturer sells more passengers trucks then this division. Likely, nothing will change, but coming out with a more capable small pick up truck would go along way in helping GMC and Chevy. Also, redo the Equinox to be a real battler against the Ford Escape and Toyota RAV4.

8. Hummer – GM’s niche division is the Hummer and little needs to be changed other than to add an H4, a compact Hummer. The hummer may also be gone soon. With the H4, give the division something to go with that can battle the Jeep Wrangler. Hummer will always be perceived as the company’s gas guzzling company, but it is also profitable for the corporation.

Personally, I do not want the bankruptcy route to be exercised as I know that so many suppliers would be left out in the cold, jobs lost, and goodwill would take a hit for at least the short term. Still, aggressive action – even beyond plant closings and layoffs – must be considered otherwise GM will be relegated to operating as a second rate player in North America while pursuing its fortunes abroad. In my opinion, neglecting the profitable North American market would be a shame and very costly.

General Motors says it is recalling 1.5 million vehicles because of potential engine fires. Some of the recalled vehicles are no longer in production.

The recall includes the 1998-1999 Oldsmobile Intrigue, the 1997-2003 Pontiac Grand Prix, 1997-2003 Buick Regal, and the 1998-2003 Chevrolet Lumina, Monte Carlo and Impala.

Lots of folks are speculating about GM’s future. If you take all the press reports at heart, you would think that General Motors is on life support. In 2005, “the General” sold more than 9 million cars worldwide, the first time the automaker reached that figure since 1978. Yes, in 2009, U.S. auto sales are down and some are calling for GM to reduce its many brands, currently numbering 8. GM going down in 2009? Who should GM let go? Or, should…

General Motors Stick With The Game Plan and Maintain All 8 Brands?

For the record, GM’s 8 brands are: Cadillac, Buick, Pontiac, Chevrolet, Saturn, GMC, Hummer, and Saab. You could take Saab out of that pack as the Swedish automaker (although fully owned by GM) builds few cars in North America. Still, GM includes Saab in its marketing schema so we’ll keep them in for argument’s sake.

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Clearly, Cadillac is GM’s luxury division; Chevrolet is it’s budget or “All American” division; while GMC is the truck division. Beyond that, there is much muddling of divisions, but Buick is a maker of “near luxury” vehicles (Cadillac lite) while Hummer is GM’s specialty truck division. The Saab line is a bit confusing as it once was a true European division. Now, the make is chiefly featuring rebadged GM and Subaru vehicles with little original models to show for it. Finally, Pontiac and Saturn duplicate much of what the other divisions do, although the Saturn mystique of “no haggle pricing” gives the make a certain aura to it. That leaves Pontiac.

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Pontiac, like the recently killed off Oldsmobile name, is probably one of the most vulnerable of the true “American” makes. Saturn will survive because its dealer network is tops and consumer satisfaction ranks up there with Lexus.

Ultimately, the Saab name will likely die first. Outside of the U.S., particularly in Europe, Opel is a known name and an important GM make. Word has it that some of Saab’s production will shift to Germany and certain rebadged Opels will begin to sport the Saab name. Let’s just say once that happens, there is little reason to continue making Saabs. Let the Saab name die with dignity. Why spoil it by selling rebadged Opels as Saabs?

Personally, I think GM should leave well enough alone with its remaining American brands. I wasn’t in favor of Oldsmobile’s demise and I am not in favor of killing off trusted brands. GM is retooling its operation as old models are killed off and as new or revived models step in. Look for the Chevy Camaro, Pontiac Firebird, Saturn Sky, and the Buick Enclave to help spark their respective divisions to renewed glory. Am I living a pipe dream? Maybe, but at least my imagination is going in a positive direction.

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Crisis on the job market continues to grow as hurricane “Job Auction Off Jobs” whipping out a half million jobs that are gone for good. The hurt and pain continues to grow as the jobless rate hits an all time high of 6.7 percent rate.

Expert says it can be as high as 8.0 – 9.0 percent by the year 2009 with job loss claims. If GM, Ford and Chrysler don’t get the bail out from congress you can expect more jobs being auctioned off from 2 million to 3 million jobs.

Sorry, there are no polls available at the moment.

When Will The Storm Stop?

While everyone is hurting across the board of USA the storm will continue to bite more off until 2010. “Hold on to your money. Hold on to you homes.” Many are slipping away to being homeless and car less. The impact is hitting all time high with over 500,000 jobs being lost. We have not seen this many jobs gone for over 34 years.

Desperate For Jobs

Many are searching and finding no jobs that will have a security impact for good health benefits, good paying wage and pension plans. The scary sad news continues to hit employers to strike back for less hours for employees. Don’t be surprised to see a full time job turn into a part time work. If you hold a part time job more than likely they will cut more your hours back.

On The Rise Crime and Divorce

With the more increasing pressure to make a living, you can expect higher rate of crime and divorce on the increase. In fact the stress levels are boiling point inside the home causing physical violence and abuse to continue. Each person who lost their job a horrific story is behind dark doors.

When Will We See The Economy Back?

That’s a good question. Officially we are in a recession starting this month in December of 2008. Media has been flirting with recession talks and writing about the storm swiping across USA. Now that hurricane “Job Auction Of Jobs” is here, be prepared to go along with ride and shelter your self with family and deep pockets with money. President elect Obama mentioned ‘this is going to get a lot worse before getting better.’

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The Storm Easting Homes and Jobs

How much more can we take? The domino effect of losing your job, then family crisis of losing your martial mate, marriage and homes are under critical attacks. 9news and other major reporting media in Colorado saying ‘we have not been hit that hard’ are missing people who are living on the streets. How is the economic crisis effecting you? Let us know!

With trees being chopped down by the thousands. Homes are being built with and no one can afford to purchase them. Time to save the trees. The digital age is here for a long time.

The world economy is at the all time low. More jobs are being cut by the thousands. Just in November over 500,000 jobs were lost. By the end of the year 2008 we will be shocked by see close to a million jobs gone. Jobs are shaking the hands of evil while most CEO profit getting parachute golden income. When the stock market crashes, the big CEO cuts its employees (they call it the fat) to leaving you with no job.

 

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Therefore, many ask can you make money online?

Traffic = Sales = Income.

The true way to make money online is here to stay for a long time. We have been reporting on ways for you to make money online. We only provide you what works. Many other website(s) give you misleading information. Beware of the pit falls that most fall into. I highly recommend www.BlogThisToTheBank.com teaching you to avoid the deadly pit fall for online marketing and blogging.

The Increase Change Of (SE) Search Engines

The SEO and way people look for information is changing drastically. More than 10,000 websites are going up every day. The traffic secrets get harder and harder for making it work. TWI Traffic has been a proven method of getting unlimited targeted traffic FREE. The serious online marketing Internet person will take advantage of the target free traffic. The question is, are you paying for traffic to your blog or website?

Paid Traffic Pit Falls

Are you paying for dead end traffic which is costing you hundreds to thousands of dollars. Google AdSense ads are always running. Ask your self why? For those who advertise on Google AdSense are websites that get very poor traffic. Business owner and blogs owners will flock to Google or Yahoo trying to get the edge for traffic. The fact that they will pay out more. (PPC) is dead traffic.

The Highway To FREE Traffic

Rome was not built over night. To be an empire on the Internet you learn the traffic secrets. Writing for most is pain staking. But ask your self, what made me buy? Was it the colorful high graphics that made you buy? NO graphics will sell any thing for you. Words make money. Turn to the revolution way to make money online by articles that will send thousands stomping at your website. Add a service that many will enjoy.

The Big Internet Money Makers

Take for example Google and Yahoo. Since the 1990’s Google and Yahoo have been online and they are monster making money online. Have noticed the stocks for Google, it worth over $200.00 a share and usually going up by the day. GM, and Ford stock is only worth $2.00 - $6.00 a share. I’m sure the stocks will increase if congress approves their plan. Sure GM and Ford can fly there jets and make tons of money. The point is the Internet is making money online as previously reported the Internet business is a 300 Billion Dollar Business.

The Digital Revolution

Bloggers seek the edge in massive amount of traffic. Blogging for money in the digital world is fun. Consider you hold no inventory. Take for example downloading unlimited games many gamers spend thousands of dollars on games. XBOX 360, PlayStation 2 and 3, Wii Games, many pay for one game is about $50.00 or more. That’s a lot of money for games. Ask you self wouldn’t you want to download games for the price of one game? Million of games can be downloaded without any time limits and all 100% legal, right now at www.ultra-games-download.milehightopsites.com

Another example is movies.Box office movies is big business. Hollywood is not going thru a economic crises. Brad Pit and other famous Hollwood  celebrities are making big money. Do you have a future in acting? Probably not it’s a very, very slim chance to make it big in Hollywood. Therefore, downloading hot new movies unlimited is the wave of the future. Consider you will spend $10.00 more or less to see that box office movie. If you are dating add the movie and pop corn and dinner for about $45.00 that night. Now you see a great movie. Would you rather download movies unlimited over 80 million movies with no time limits and burn them on DVD? At our website you will be able to search, download, and burn unlimited movies right now to your computer fast at  www.the-movie-downloads.milehightopsites.com

Another example is dating.Dating world is big business worldwide. Oprahs relationship expert had millions watching around the world. Why? Well I hate to say it men and women at times don’t communicate in relationships correct. We tend to fight, love, hate, and more complex with children. Well it can be confusing. Ask your self shouldn’t dating be easy? What about dating ideas? If your a guy you want to impress your lady. Impressing her with flowers, the romance, the communication and the real heart pounding being love. Sound great where do I sign up? For a lot of guys it just the opposite. No commitment. Sad, but true. Ask you self would not make sense for a Compatibility Test 1000 Question For Couples?

Oprah’s Relationship Expert Revels 300 Creative Date Ideas Many Are Using To Rekindle Love, Better Relationship, and Dating Fun. 

Today’s Internet Advantage

With the Internet as we know it today, being really only a little more than ten years old, believe it when I tell you that the future of internet marketing is red hot!!!We haven’t even scratched the surface of how we will be using the internet to market our business in the coming years.

What Is The Future of Internet Marketing

We have already witnessed how marketing techniques on the Internet have grown by leaps and bounds, and then surpasses that mark again the following year. You may think you know all there is to know about using the Internet, but you have only just begun to learn all the latest marketing methods on the web. Updates and improvements beyond your wildest thoughts and dreams are on their way.Understand that Google was only created in 1998. How much easier have our lives become because of the Google search engines?

The e-Commerce Digital Revolution

As more people become a part of this digital revolution, e-commerce will continue to grow. We have to realize that average Internet users are becoming more sophisticated, particularly as the younger generation get older. Sooner than you think, every generation will have grown up with some Internet exposure.So there is very little doubt that the future of Internet marketing is very bright.

Online marketing can be a bit confusing to a lot of people.

The future of internet marketing is very exciting to the internet marketer. We anxiously await for the next big thing to come along on the internet, so we can have the chance to give it a try, and add it into our latest advertising methods. I think we will all be shocked when we look back, ten years from now and say “remember when”. We should all welcome digital technology, and new internet techniques with open arms, and an open mind.

Top Links To Get You Started To Make Money Online:

• BlogThisToTheBank.com - Learn The Secrets To Blogging and The Deadly Pit Falls.
• TWI Traffic - Stop paying for traffic. Learn how to get free unlimited traffic to your website or blog.
•  TAS - Once you start making money online. You want to travel. Why pay the over head price? - Save 50% - 70% off on all flights, hotel, and car rentals. Learn the secrets.