CHICAGO (Reuters) – General Motors Corp, nearing a Tuesday deadline to present a viability plan to the U.S. government, is considering as one option a Chapter 11 bankruptcy filing that would create a new company, the Wall Street Journal said in its Saturday edition.

"One plan includes a Chapter 11 filing that would assemble all of GM''s viable assets, including some U.S. brands and international operations, into a new company," the newspaper said. "The undesirable assets would be liquidated or sold under protection of a bankruptcy court. Contracts with bondholders, unions, dealers and suppliers would also be reworked."

Citing "people familiar with the matter," the story said that GM could also ask for additional government funds to stave off a bankruptcy filing.

GM declined to comment, the story said.

General Motors and Chrysler LLC face a Tuesday deadline to file restructuring plans to the government in exchange for receiving $17.4 billion in federal loans.

Keep your Chevy, it will be collectible soon.

Meanwhile...

Tesla Builds a 4-Door

Tesla is making some big moves, literally.

By Mike Monticello - December 2008

Tesla is making some big moves, literally. The company is planning to relocate from its current headquarters in San Carlos, California, to a $250 million facility in San Jose, California, the construction of which will begin in the summer of 2009. The reason? The Model S, an all-new 4-door 5-passenger zero-emissions luxury sedan powered by a lithium-ion battery pack. Unlike the Tesla Roadster, which is built in partnership with Lotus in the U.K. and based on a stretched Elise platform, the Model S will ride on a platform developed by Tesla.

Tesla says the Model S will get about 240 miles per charge while still offering "exceptional performance." Numbers being bandied about include 0–60 mph in less than 6 seconds. The Model S will have a base price of about $60,000 (versus the Roadster''s $109,000 price tag) when it goes on sale in late 2010. Tesla recently hired Franz von Holzhausen as its chief designer; he was formerly the director of design for Mazda North America. His first project is to put the finishing touches on the Model S.

http://www.roadandtrack.com/article.asp?section_id=10&article_id=7201 

Short bet on the stock?

Please provide a link.

Could have something to do with the UAW walking out on the talks that are going on...

plan a. federal money

plan b. Bankruptcy PLUS federal money

Should be a fun week in the auto biz.....

oh, and again, as a serious auto manufacturer, Tesla is a joke... a mere pimple on a cows butt.. so to say..

There are kit car manufactures that deliver more cars than Tesla did last year for begebeezs sake... How much money has that company burned through per car delivered???

Topper, you''re a joke.

The company is run by a BILLIONAIRE!

Now they''re going to be getting government money because they ARE the future.

Keep putting all your eggs in all the wrong baskets.

5. Author: topper7788

Bankruptcy + possible government aid seems to be the best course to me.

So long as there is the UAW at GM, GM will not be allowed to fail.

Absolutely!!! With a union that strong, they will never be allowed to fail. Just look at us.

Sincerely,

DHL and the International Brotherhood Of Teamsters

DHL is still around.

But not in America.

DMV,

Are you even capable of getting into a debate without a personal insult...

Geez, your a F head...

Oh, you can come back with some other stupid ass personal comment, BUT I''m done.. It is just easier to plain ignore your childish comments...

Have a GREAT weekend...

And Tesla is a money pit with no long term viable business plan, Gee lets see, their 4 door sedan will sell for $60,000+, if they actually produce them... they will have lets see 5 or 6 dealerships by the end of 2009...

Gee, sounds like a plan to take over the auto industry to me..

GM for all its problems will have a $40,000 sedan on the road, 3000 dealers to service them.. Toyota will have a $30,000 sedan on the road, with 2000 dealers to service them, Nissan has one coming, so does Honda..

WHO do you think will be in a better long term position..

I here the guys at Toyota, Honda, Nissan, GM, and Ford are meeting daily to discuss the threat to there business from Tesla... 🙂

It''s a company that was started by another guy with too much money and who thought because he has a idea and lots of $ he can just change the world... Good luck, nice toy if you have the money..

Don''t get me wrong, I think they are cool and the tech aspect is interesting...

But a viable alternative.. come on now, you can''t seriously believe that.. The car at $110,000 is not a VIABLE alternative to anyone. Its a limited range toy period. You cold not even drive it from where you live to Atlanta. And yes the government would certainly be stupid enough to throw money down the toilet rather than put it somewhere where it will do some good.. Just look at where lots of the 800 billion is going! Over priced toy at best PERIOD!

The ONLY way they will survive is if they morph into a tech development company for the REAL car companies. They will not be able to make any dent in the industry other than as possibly a super low volume limited vehicle producer,, The Majors will blow by them as the economies of scale just plain work that way.

Oh, Brother...

If you want to debate the merits of Tesla as a car and car company, fine... But with you its just lets make a personal comment... You look like what you are.. And I don''t want to play.. you can play by yourself...

Tesla death watch

The AP reports that NHTSA was worried that the advanced airbag rule would bankrupt Tesla– given the erstwhile automaker''s $43m operating losses from 2003 - ''06. Tesla would have to "cancel its pending development of an electric-powered sedan, and would ultimately have to terminate its operations." So if GM can''t meet some requirement with the Volt without spending tons of money, do they get to slide? Oh and "based on information provided by the automaker, NHTSA estimates the waiver will cover 3,825 Roadsters, including 625 vehicles this year and 1,600 in each of the following two years." Last we heard, Telsa was talking about building one car a week.