Posted on 02/18/2009 9:52:50 AM PST by Anti-Bubba182
DETROIT (AP) - Billions of dollars in government loans to prop up General Motors and Chrysler won't be enough. The companies, which have received $17.4 billion so far, filed plans with the government more than doubling that request to a staggering total of $39 billion.
The requests, made in government-required restructuring plans filed Tuesday, were accompanied by plans for thousands more job cuts, slashing of models and brands, union concessions and the prospect of even further expense cuts.
In a dramatic acknowledgment that conditions in the U.S. auto industry have grown significantly worse in just two months, GM alone said it would cut 47,000 jobs globally by the end of the year - 19 percent of its work force. It also said it would close five more U.S. factories, although it did not identify them.
Chrysler said it will cut 3,000 more jobs and stop producing three vehicle models........."
(Excerpt) Read more at apnews.myway.com ...
Buy a Ford ... they opted not to go along with the raid on the treasury.
That is to their credit, but they will be along eventually.
Ford’s not home free either, they did agree to a line of credit in case.
How about an American built Toyota ...
When I say no more to the dead three, I mean no more dead three auto companies....
No more money. Give it to them now, they will be back again in 2 months. Let them declare bankruptcy.
Close ‘em down!!...to hell with the unions! They killed these companies with their rediculous benefits packages!
Good idea, but this is the age of Obama. Those Union vermin will get what they want and the company bosses know they can milk this thing.
They will soon enough. They can't afford not to.
I would love to see Wilbur Ross take over a post-bankruptcy GM or Chrysler.
If they are going to rob me via “stimulus”/tax code/IRS, I will not willfully buy any of their products.
Liberal Bob takes a ride and thinks about his next 2 cars:
http://www.youtube.com/watch?v=7ylGkR0KmCA
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