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Cars > Ramair1’s Garage > Blog > SavingPontiac.org

 

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Ramair1

M
Hugo, Oklahoma
United States

 

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SavingPontiac.org

By Ramair1

DAPA Membership and the Pontiac Community,

There are those that are fighting to save Pontiac as is apparent in the article below. This group has launched a web site called www.SavingPontiac.org and they are looking for support from all Pontiac enthusiasts. Please go to the web site, take a look at what they are trying to do and then click on the “Sign our Petition” link on the right side of any page and sign up. There is also an option to contact your congressman.

Please forward this message to all that would want to save Pontiac, and several thousand American jobs. Who wouldn’t?

Thanks
Ramair1

Article that appeared in the L.A. Times:

Could Pontiac be a Phoenix?
September 15, 2009

If one group gets its way, the Wide Tracking Pontiac may live to drive another mile.

SavingPontiac.org, is a grassroots effort to save the Pontiac brand, which General Motors is in the process of shutting down.

The organization said in a news release, “Reviving the brand into a new entrepreneurial venture will immediately contribute significantly to the economy.”

They hope to convince the public, as well as union members, of the possibility of more years of driving excitement.

The group is made up of unnamed "executives and Pontiac enthusiasts," who think getting a government loan for $3 billion would do the trick. Their four-step solution is spelled out on the site:

1) Contribute the Pontiac brand and a dormant plant like the Spring Hill,Tenn., plant to a new entrepreneurial, passionate management team and the future employees of Pontiac.

2) Fund the new company with $3 billion in preferential term loans from the federal government. (Only 6% of the $50B given to GM, only 3% of total automobile bailout funds or less than 1% of the unspent bank bailout funds)

3) Company does an IPO within five years to pay back loans, and government (taxpayers) receive 5% to 10% of the IPO proceeds and the loans are repaid.

4) The estimated enterprise value at the end of five years exceeds $9 billion.

-- Doug Stewart



Above article can be found here: http://latime...-phoenix.html

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Read comments on this blog post 1 – 10 of 21

stevo3364’s Profile Photo
stevo3364
Nov 16, 2009 at 12:16 pm
We both signed!
 
rhonda’s Profile Photo
rhonda
Oct 17, 2009 at 9:57 am
Done!
 
grapeape’s Profile Photo
grapeape
Sep 25, 2009 at 11:14 pm
Signed it...See what happens though.
 
Chiefpontiac’s Profile Photo
Chiefpontiac
Sep 25, 2009 at 2:41 pm
Hey guys....Thank you for all the great comments and the support for Savingpontiac.org....we will do our best....need all the help we can get with Forums posts and friends joining us....Thanks again!!
 
TerryO’s Profile Photo
TerryO
Sep 23, 2009 at 8:39 am
I'm sorry this auto enthusiast web site is turning into a political opinion outlet. I don't mind signing petitions, but I get enough negative, prejudice anti-President and disrespect at work. It's just a shame. I am here to escape that and here it is (below) getting rammed down our throats on Motortopia.
 
Littlewing’s Profile Photo
Littlewing
Sep 21, 2009 at 6:22 am
I signed it.
 
jebfastlane’s Profile Photo
jebfastlane
Sep 20, 2009 at 6:56 pm
Signed it!
 
KnightBandit’s Profile Photo
KnightBandit
Sep 20, 2009 at 12:57 pm
Long live Pontiac
 
American_Muscle’s Profile Photo
American_Muscle
Sep 19, 2009 at 11:44 pm
Signed it!
 
twhotrod1968’s Profile Photo
twhotrod1968
Sep 19, 2009 at 6:16 pm
i signed it
 

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Cars > Ramair1’s Garage > Blog > SavingPontiac.org

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