Hasta La Creative!

Unless you’ve been living under a rock for the past couple of days, you’re well aware of GM’s bankruptcy protection filing. To assuage the buying public, GM has unveiled a commercial explaining “the new GM,” guaranteeing a leaner, greener company that makes better cars than ever before.

I’m all for corporate transparency, but I have to wonder if the “Reinvention” spot is enough to save the troubled automaker. I think it’s safe to say that public distrust in the automotive industry as a whole is high – especially when auto officials are arriving in private jets to beg the federal government for bailout money.

How does this spot bode for the future of automotive advertising? Is it enough to entice consumers to buy American again?

I think it’s a step in the right direction, but I also think that it signals a change in the way automakers and dealerships place their ad buys. Existing on a campaign of print and broadcast is not enough anymore. If companies want to win the automotive war, they need to regain credibility with the public by actively engaging them. After all, you have to at least shake someone’s hand before you reach for their wallet.

Sara Barton is a copywriter, social media strategist, and avid blogger who is in search of her next opportunity. Contact her via twitter, LinkedIn, or her blog.

There is another familiar name that has filed for bankruptcy. Hard Rock Park announced that it is closing down as well after failing a proper buyer to carry on its business. But rather than file for Chapter 11, Hard Rock Park has requested their situation to be classified as Chapter 7 where a trustee is appointed and the property and assets are sold to pay creditors.

“Because the bid and sale process has been unsuccessful thus far, there exists no reasonable prospect of success in the immediate future,” the filing stated. “Regrettably, conversion of [the park’s] Chapter 11 bankruptcy cases to cases under Chapter 7 of the bankruptcy code thus appears to be the only remaining means of allowing the debtors’ assets to be liquidated and potential causes of action to be pursued and monetized for the benefit of creditors.”

The businesses that were really in trouble are surfacing one by one. It looks like this trend will continue and more companies are bound to file for Chapter 11 soon although Chapter 7 seems to be a more sane declaration to really clean out their debts.

(Source) The Sun News