Posted on 12/19/2008 6:11:11 AM PST by WackySam
Edited on 12/19/2008 6:14:22 AM PST by Admin Moderator. [history]
Dec. 19 (Bloomberg) -- General Motors Corp. and Chrysler LLC will get $13.4 billion in government loans to keep operating in exchange for a restructuring under a rescue plan that President George W. Bush will announce this morning.
The money will be drawn from the Troubled Asset Relief Program and the automakers will get an additional $4 billion from the fund in February, according to a statement from the Bush administration. The money would allow GM and Chrysler to keep operating until March.
(Excerpt) Read more at news.yahoo.com ...
My point is that Ford doesn’t want the money. They initially did, which is why Mullally went to Washington, but then they ran the numbers and decided they could finish their rebuilding without a handout.
I missed your post because of the eye candy two posts down. Great idea!
I have a minivan for hauling the kids around. I’m just discussing why the HHR in SS trim is not a bad vehicle. How, for many people it is entertaining, fast, cool looking (this is a personal thing evidently), and handles wickedly well.
Hope you get a great price for the 914 so you can get your two-wheeler. I’d love a motorcycle, but out here in SoCal that’s akin to suicide!
The Escape is a great car, we rented a V6 when we were in Florida two years ago. All of our Fords have been great (I’ve owned an Explorer and a few Mustangs).
I am working - I own my own law firm. Everybody who works for me gets paid before I do. If I can’t afford something, I don’t buy it. I represent people (partly) who get sued for whelching on their credit cards and I can generally negotiate down to a reasonable monthly payment for them to pay off the debts they owe. I also represent creditors who offered money or services in good faith and got stiffed, and then have trouble making the monthly bills because people don’t pay what they promised to pay.
People should be made to take responsibility for their actions.
Colonel, USAFR
Hehehe, which is why Beemers and Ricers are pretty surprised when I scoot past them!
Having never belonged to a union in my entire working life..I was intrigued by a statement from a top Canadian UAW official...who said and I quote...”I dont know why the UAW comes in for so much flack, workers salaries are only 6% of the total cost of building a car.”
Can anyone confirm or deny this for me please?
BWAAAHAHAHAHAHAHAHAAHAHAHAHA!
“Loans will be called and money must be returned !???”
What a LOAD of crap.
The RINOs would love for you to do that; cede control of the GOP to them and stop that pesky complaining that is so inconvenient around election time...
It’s like he’s decided to blow as much as he possibly can in his final days.
Point well taken. The money’s already spent.
Time for a new tagline, by the way! LOL!
An idea worthy of a Dimocrat, this suggestion has (at least) two things massively wrong with it:
First, it would greatly favor GM and Chrysler over the one U.S. company that is doing things a little bit right: Ford;
Second, it would hugely devalue recently-purchased cars and trucks by GM, Chrysler, AND Ford - to the tune of $10,000 each.
Does THAT sound fair?
How easy to say, and yet... and yet you counsel people on how to avoid doing exactly that...
Key word is "SALARIES."
You'll notice he didn't say "compensation," since the total compensation for UAW workers is maybe 50% higher than the salaries alone:
"Total compensation" includes all fringe benefits, especially an extremely generous health insurance plan.
Now you're up to maybe 10% of the total cost of building a car, even if you accept UAW fiures; when margins are zero, that's important.
Did you read my post? I work out ways for my clients to pay what they owe, unless the debt isn’t owed.
Unfortunately, my site blocked the picture.....
I read this part: "I can generally negotiate down..." and perhaps misinterpreted that as your saying you got them a reduction in the amount owed.
If that's not true, I sincerely apologize for my leap to judgment.
That's exactly right. The way to fix Social Security is to say that retirees who need money to replace their Social Security can wander down to the local welfare office and apply for relief based on their need, and the Feds will supplement the welfare amount to bring it up to the former SS level. Otherwise, use your own pension to live on. All incoming SS payments stop on Jan 1, 2009. And all the former SS employees can go on unemployment or find jobs somewhere.
And here we were worried that Obama would usher in a new socialist order. W beat him to it.
Here's a hint: Toyota, Honda, Nissan, Hyundai and Kia are all doing fine. None of them are demanding taxpayer money. The first four all have American plants with American workers, and Kia will be building one soon.
Chrysler and GM have earned my scorn. I will boycott them.
The UAW can go to hell.
Bush/Barry legacy: Welcome to the coming Great Depression II. Damn it.
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