Pontiac Dead?

Recently it has been anounced in the news that the pontiac car company will no longer be making cars. This is pretty crazy news to me because i see pontiacs everywhere i drive and know many people who own them. Pontiac isn't the only one being effected by the new gov. standards. Mustangs with v8s might also become harder to get or might stopped being produced. I think this is ridiculous. What do you think?