Originally Posted By: OneEyeJack
I thought all this was solved when the government took over and Nancy Pelosi announced the GM would stop making cars that people wanted like the then brand new Camaro and start making cars people needed like the Volt. If GM would only have followed the advice of an industry expert like Pelosi there would be no Corvette to cause these problems (lol).
If you weren't so biased, you'd check your "facts". Simple to do eg from wikipedia:
Originally Posted By: Wikipedia Chevy Volt History
The Chevrolet Volt concept car debuted at the January 2007 North American International Auto Show, becoming the first-ever series plug-in hybrid concept car shown by a major car manufacturer.
Then General Motors' Vice Chairman Robert Lutz said the two-seater sports car being developed by Tesla, the Tesla Roadster, and the rapid advancement of lithium-ion battery technology inspired him to push the carmaker to develop the Volt after the 2006 Detroit Auto Show
The production design model officially unveiled on September 16, 2008.
And the timing of financial assistance after that date:
Originally Posted By: Wikipedia GM Chapter 11 reorganization
On November 7, 2008 General Motors reported it had projected it would run out of cash around mid-2009 without a combination of government funding, a merger, or sales of assets. Ten days later General Motors representatives, along with executives from Ford and Chrysler testified about their need for financial aid at a Congressional hearing in Washington D.C. All three companies were unsuccessful in their attempts to obtain legislation to authorize U.S. government aid, and were invited to draft a new action plan for the sustainability of the industry. On December 2, 2008, General Motors submitted its "Restructuring Plan for Long-Term Viability" to the Senate Banking Committee and House of Representatives Financial Services Committee. Congress declined to act, but in December 2008 the Bush administration provided a "bridge loan" to General Motors with the requirement of a revised business plan. It said it needed $4.6 billion in loans within weeks, from the $18 billion it had already requested, and an additional $12 billion in financial support in order to stave off bankruptcy. On Feb. 26, 2009, General Motors announced that its cash reserves were down to $14 billion at the end of 2008. G.M. lost $30.9 billion, or $53.32 a share, in 2008 and spent $19.2 billion of its cash reserves. Mr. Wagoner met with President Obama’s auto task force, and the company said that it could not survive much longer without additional government loans.
On the March 30, 2009 deadline President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to compel bondholders and trade unions into settlements. GM Chairman and CEO Rick Wagoner was also forced to resign. GM bondholders rejected the government's first offer, but the unions agreed to the preferential terms. A bondholder debt to equity counteroffer was ignored.