Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 19, 2013, Winnipeg, Manitoba C M Y K PAGE A16 A 16 WINNIPEG FREE PRESS, FRIDAY, JULY 19, 2013 WORLD winnipegfreepress. com Chevrolet Association only. Dealer may be RBC Bank, Auto Scotiabank may this offer in or in part at notice. Conditions and limitations Chevrolet for details. ? 0% purchase offered on approved credit by RBC Royal TD Auto Scotiabank for 72 months demonstrator 2013 Silverado Thunder Special Rates other lenders will vary. payment, trade and/ or security deposit may be Monthly payment and cost of borrowing will vary depending on amount borrowed and down payment/ trade. Example: $ 10,000 at 0%, the monthly payment is $ 138 for 72 months. Cost of borrowing is $ 0, total obligation is $ 10,000. 0% finance offer is unconditionally interest- free. **$ 6,500/$ 7,500 manufacturer to dealer delivery credit available on the 2013 Silverado Crew 2500HD/ 2013 Silverado Thunder ( tax exclusive) for retail customers only. Other cash credits available on most models. See your GM dealer for details. $ 2,500 non- stackable cash credits is a manufacturer to dealer delivery credit ( tax exclusive) for 2013 Chevrolet Silverado 1500 Crew Cab. Non- Stackable Cash Credits are available only when consumers opt for the cash purchase of a new or demonstrator model. By selecting lease or finance offers, consumers are foregoing such discounts and incentives which will result in a higher effective interest rate. See dealer for details. Offer ends July 31, 2013.^ Whichever comes first. ^^ Based on latest competitive data available.*? 2013 Silverado 3500HD 5th- wheel towing capacity of 10,478 kg ( 23,100 lb) is based on model K30903 with Dual Rear Wheels and available Duramax � diesel engine. Competitive information based on comparably equipped 2012 model year data available at time of printing. Maximum trailer weight ratings are calculated assuming a base vehicle, except for any option( s) necessary to achieve the rating, plus driver. The weight of other optional equipment, passengers and cargo will reduce the maximum trailer weight your vehicle can tow. See your Chevy dealer for additional details. *^ Based on WardsAuto. com 2012 Large Pickup segmentation and latest 2012 competitive information available at time of printing. Excludes other GM models. *? Requires Regular Cab model C30903 with Dual Rear Wheels and gas engine. Maximum payload capacity includes weight of driver, passengers, optional equipment and cargo. ?? Offer applies to new 2013 MY Silverado Heavy Duty Models delivered by September 3, 2013 at participating dealers in Canada. Dealer trade may be required. This offer may not be combined with certain other consumer incentives available on GM vehicles. GMCL may modify, extend or terminate this offer in whole or in part at any time without notice. Conditions and limitations apply. See your GM dealer for details. � Offer only valid from July 3, 2013 to September 30, 2013 ( the " Program Period") to retail customers resident in Canada who own or are currently leasing ( during the Program Period) a GM or competitor pickup truck to receive a $ 1,000 credit towards the purchase, finance or lease of an eligible new 2013 Model Year Chevrolet Silverado Light Duty, Chevrolet Heavy Duty, GMC Sierra Light Duty, GMC Sierra Heavy Duty, or Chevrolet Avalanche. Only one ( 1) credit may be applied per eligible vehicle sale. Offer is transferable to a family member living in the same household ( proof of address required). This offer may not be redeemed for cash and may not be combined with certain other consumer incentives available on GM vehicles. The $ 1,000 credit includes HST/ GST/ QST/ PST as applicable by province. As part of the transaction, dealer will request current vehicle registration and/ or insurance to prove ownership. GMCL reserves the right to amend or terminate this offer, in whole or in part, at any time without prior notice. Void where prohibited by law. Additional conditions and limitations apply. See your GM dealer for details ? Thunder package includes PDT credit valued at $ 1,550. ON NOW AT YOUR PRAIRIE CHEVROLET DEALERS. PrairieChevrolet. com 1- 800- GM- DRIVE. Chevrolet is a brand of General Motors of Canada. ?/??/* Offers apply to the purchase of a 2013 Silverado Thunder Special Edition ( R7B)/ 2013 Silverado Crew 2500HD ( R7C) equipped as described. Freight included ($ 1,600). License, insurance, registration, PPSA, administration fees and taxes not included. Dealers are free to set individual prices. Limited time offers which may not be combined with other offers, and are subject to change without notice. Offers apply to qualified retail customers in Prairie Dealer Marketing area trade required. GMCL, Royal TD Financing Services or modify, extend or terminate whole any time without apply. See dealer financing Bank/ financing/ on new or Edition. from Down required. TO GUARANTEE OUR QUALITY, WE BACK IT 160,000 KM/ 5 YEAR POWERTRAIN WARRANTY Whichever comes first. See dealer for limited warranty details. VEHICLE PRICING IS NOW EASIER TO UNDERSTAND BECAUSE ALL OUR PRICES INCLUDE FREIGHT, PDI AND MANDATORY GOVERNMENT LEVIES PRAIRIECHEVROLET. COM MAXIMUM FIFTH- WHEEL TOWING CAPACITY OF 23,100 LB. ( 10,478 KG)* ? SEGMENT EXCLUSIVE, HIGH STRENGTH, FULLY- BOXED FRAME.*^ MAXIMUM BALL- HITCH TOWING CAPACITY OF 18,000 LB. ( 8,165 KG)* ? MAXIMUM PAYLOAD CAPACITY OF 7,222 LB. ( 3,276 KG)* ? LEGENDARY DURAMAX DIESEL ENGINE & ALLISON TRANSMISSION ( 397 HP AND 765 LB- FT OF TORQUE) CASH CREDITS UP TO $ 6 , 500 ** + $ 1 , 445 + $ 1 , 000 NO CHARGE ALLISON TRANSMISSION ?? TRUCK OWNERS BONUS � 2013 SILVERADO 3500 HD DIESEL 3500HD LTZ CREW MODEL SHOWN 2013 SILVERADO THUNDER SPECIAL EDITION CREW CAB 4X4 CONSIDER THE JOB DONE. THUNDER SPECIAL EDITION SHOWN 30 MPG HIGHWAY 9.4 L/ 100 KM HWY | 14.3 L/ 100 KM CITY .. CASH CREDITS UP TO $ 10 , 000 ** + $ 1 , 550 + $ 1 , 000 THUNDER PACKAGE CREDITS ? TRUCK OWNERS BONUS � BEST- IN- CLASS 5- YEAR / 160,000KM POWERTRAIN WARRANTY^ 5.3L V8 ENGINE, 6- SPEED AUTOMATIC TRANSMISSION, HD COOLING PACKAGE SEGMENT EXCLUSIVE AUTOMATIC LOCKING DIFFERENTIAL AND HEAVY DUTY TRAILERING PACKAGE STABILITRAK � , TRAILER SWAY CONTROL AND HILL HOLD ASSIST CHROME GRILLE, ASSIST STEPS, WHEELS, DOOR HANDLES AND MIRROR CAPS 6 WAY POWER DRIVER'S SEAT, DUAL ZONE ELECTRONIC CLIMATE CONTROL EZ- LIFT LOCKING TAILGATE UP TO $ 10,000 IN COMBINED CASH CREDITS ** ON SELECT MODELS OR CHOOSE 0 % 72 MONTHS ? FINANCING LOWEST PRICES OF THE SEASON FOR UMMER ELLDOWN D ETROIT - Once the very symbol of American industrial might, Detroit became the biggest U. S. city to file for bankruptcy Thursday, its finances ravaged and its neighbourhoods hollowed out by a long, slow decline in population and auto manufacturing. The filing, which had been feared for months, put the city on an uncertain course that could mean laying off municipal employees, selling off assets, raising fees and scaling back basic services such as trash collection and snowplowing, which have already been slashed. " Only one feasible path offers a way out," Gov. Rick Snyder said in a letter approving the move. Kevyn Orr, a bankruptcy expert hired by the state in March to stop Detroit's fiscal free fall, made the Chapter 9 filing in federal bankruptcy court. Michael Sweet, a bankruptcy attorney in Fox- Rothschild's San Francisco office, said the city would pay current employees. But " beyond that, all bets are off." " They don't have to pay anyone they don't want to," Sweet said. " And no one can sue them." Detroit lost a quarter- million residents between 2000 and 2010. A population that in the 1950s reached 1.8 million now struggles to stay above 700,000. Much of the middle class and scores of businesses also have fled Detroit, taking their tax dollars with them. Beginning in the late 1960s, auto companies began opening plants in other cities. Property values and tax revenue fell, and police couldn't control crime. Then the rise of autos imported from Japan started to cut the size of the U. S. auto industry. In recent months, the city has relied on state- backed bond money to meet payroll for its 10,000 employees. Orr was unable to persuade a host of creditors, unions and pension boards to take pennies on the dollar to help facilitate the city's massive financial restructuring. If the bankruptcy filing is approved, city assets could be liquidated to satisfy demands for payment. Snyder determined earlier this year Detroit was in a financial emergency and without a plan for improvement. He made it the largest U. S. city to fall under state oversight when a state loan board hired Orr. His letter was attached to Orr's bankruptcy filing. " The citizens of Detroit need and deserve a clear road out of the cycle of ever- decreasing services," Snyder wrote. " The city's creditors, as well as its many dedicated public servants, deserve to know what promises the city can and will keep. The only way to do those things is to radically restructure the city and allow it to reinvent itself without the burden of impossible obligations." A turnaround specialist, Orr represented automaker Chrysler LLC during its successful restructuring. He issued a warning early on in his 18- month tenure in Detroit that bankruptcy was a road he preferred to avoid. He laid out his plans in June meetings with debt- holders, in which his team warned there was a 50- 50 chance of a bankruptcy filing. Some creditors were asked to take about 10 cents on the dollar of what the city owed them. Underfunded pension claims would have received less than the 10 cents on the dollar under that plan. Orr's team of financial experts said that proposal was Detroit's one shot to permanently fix its fiscal problems. The team said Detroit was defaulting on about $ 2.5 billion in unsecured debt to " conserve cash" for police, fire and other services. " Despite Mr. Orr's best efforts, he has been unable to reach a restructuring plan with the city's creditors," the governor wrote. " I therefore agree that the only feasible path to a stable and solid Detroit is to file for bankruptcy protection." Detroit's budget deficit is believed to be more than $ 380 million. Orr has said long- term debt was more than $ 14 billion and could be between $ 17 billion and $ 20 billion. Orr's decision to file now may have been influenced by lawsuits filed by some city workers and retirement systems to prevent Snyder from approving a bankruptcy request from the emergency manager, said Detroit- area turnaround specialist James McTevia. - The Associated Press Beseiged Detroit officially bankrupt Largest U. S. city to ever make move By Corey Williams and Ed White ROMAIN BLANQUART / DETROIT FREE PRESS / MCT ( ABOVE), PAUL SANCYA / THE ASSOCIATED PRESS ARCHIVES ( RIGHT) ABOVE: A sombre Detroit Mayor Dave Bing couldn't stop the free fall. RIGHT: The city of Detroit became the largest in U. S. history to file for bankruptcy Thursday. ' They don't have to pay anyone they don't want to. And no one can sue them' A_ 20_ Jul- 19- 13_ FP_ 01. indd A16 7/ 18/ 13 10: 05: 31 PM ;