GM bankruptcy expected for Monday - Will the Corvettes race at LM?

[Werner]

GM is expected to announce brankruptcy on Monday - Anyone knows or has heard rumours if this will affect their start at Le Mans?

[Kpy]

GM doesn't own the Corvette Racing team, it belongs to James Miller and Gary Pratt, nor does it own Luc Alphand Adventures. So, no GM's situation will not affect the Corvettes' start at LM.

[Werner]

Aaah, OK, sounds good. I knew that Alphand is a private entry but thought that Corvette Racing is factory owned. Good to hear they are not

[Nordic]

GM is expected to announce brankruptcy on Monday - Anyone knows or has heard rumours if this will affect their start at Le Mans?

The teams are seperate from GM, but the sponsors are mainly GM releated.

Any problem with a sponsor could affect the payments that enable the team to race.

[Kpy]

GM is expected to announce brankruptcy on Monday - Anyone knows or has heard rumours if this will affect their start at Le Mans?

The teams are seperate from GM, but the sponsors are mainly GM releated.

Any problem with a sponsor could affect the payments that enable the team to race.

Yes the teams are completely separate.
The primary sponsor of Corvette Racing Team is Compuware - not owned by GM.
Only two of the ten associate sponsors are GM related.
I think you'll see four Corvettes on the grid this year.

[Boorish Grobian]

Haven't heard anything over here regarding the bankruptcy inpacting the Vette racing program.  As I understand things, LM will be the last race for the GT1 cars, then the new GT2 machines will make their debut at the Mid-Ohio ALMS round later this summer.
Fax

[smokie]

Expected announcements have taken place - GM now in Chapter 11, Europe not affected (directly) following their sale to Magna.

[jpchenet]

Well Johnny O still seems to be of the belief that he will be in France very soon! :-)

[nopanic - neil]

US Gvt will own 60% of GM and say they will not have any direct running of the company.

Be interesting to see what happens the the whole group, esp european section in the long term.

[Mr Termite]

Has this been posted before? Apologies if so!

[garyfrogeye]

Sad but true

BINGO

[nopanic - neil]

Now the american govenment own 60% of GM.

Does GM - now stand for Govenment Motors ?

[JDS]

Now the american govenment own 60% of GM.

Does GM - now stand for Govenment Motors ?

Who knows, here's some promo details though on the takeover of GM by the government: http://www.youtube.com/watch?v=rAqPMJFaEdY

[TigerSam]

On Radio LeMans last night Oli Gavin said that the money had already been put aside for the vettes racing programme at Le Mans and that the trucks are practically there already, There will be no issue for this years event (as already confirmed) but they will have meetings regarding the future programmes.

[Canada Phil]

Now the american govenment own 60% of GM.

Does GM - now stand for Govenment Motors ?

Hi Neil don't forget the 10.8 BILLION $$ from Ontario & Canadian government. Talk about buying a lemon.
Phil