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 ...
They’ll be back for more. This is just the start of the AMTRAK-ization.
They’ll survive until it’s time to feed the union again.
“Ricers”? very insensitive.
Did I really vote for this guy (twice)? What a terrible disappointment. On so many issues he is a flaming liberal.
“It would be better to offer $10,000 to any individual who wants to buy a GM or Chrysler vehicle. Just give away the $10,000 to about 1.7 million buyers on a first come, first served basis.”
Terrible idea. You’d reward them for worse managmenet and worse products and would punish better run companies such as Toyota. It never serves the greater good for anti-competitive government policy to punish those who run their company well.
“The banks were handed wagon loads of cash, not strings, no payback.”
Ah, not even close to true. I did not support TARP concept or what happened but you are wrong on the facts.
Funny how if you go to any GM, Ford or Chrysler plant the parking lot is full of Toyotas, Nissans, Volvos, Subarus and Hondas.
“They are going to be a nationalized group and will continue to lose mkt share just as they have for the last 30 yrs.”
Can you say American Leyland?
Taking on Islamic tyranny makes him a hero. Nobody has been willing to try and change the "800 lb gorilla sitting in the room". He did.
Yes I can, that's why I wanted to see them use this crisis to fix the problem. Now it's going to be one bad loan after another.
They screwed themselves, just for a few sheckles of taxpayer dollars [subsidies].
These UAW morons would rather have NO JOB if they must give anything up. Real mental giants!
By March, this will all be academic. Radical change is coming and this bailout will either work or look paltry to what the Dems will do to help the UAW.
They are already being rewarded with $17.4 billion from we the taxpayers.
Good question.
I hear you. I own a GM and a BMW. I am very impressed with the BMW. I told myself even though I love my GM that if this were to happen I would never buy UAW again...so I guess a BMW will be my next car as well.
LOL. Yeah! The truth hurts :)
By the way......... good for FORD to hang in there on their own......
You guys think you are bashing the union...but you are really anti-American in that you want to destroy and American company and support foreign transplants who have been screwing the big three with help from certain southern Senators for years. The transplants home countries have trade barriers. There is no free trade except in America. Our markets are wide open...other countries have trade barriers in place-more will come despite their lies to Bush at the stupid meeting. This is the truth...though your fiction is more fun for you I suppose.
FUN? I am a loyal GM customer for 30+ years, YOUR union/companies have gotten my money for 30 years! Yet, in your opinion, I HAVE NO RIGHT to criticize the union’s behavior? So your message is CONTINUE TO BE OUR CUSTOMER, even while we put our hands FURTHER into your pockets and STHU about it. Is that right? The crappy benefits you describe are pretty much what most of us consider ourselves LUCKY to have. Poor baby, you have to pay your deductible first? Give me a break. You cry like royalty. I don’t know a single working person who has the dream retirement you complain about not having. Lots of questioned and were disgusted about the Wall Street Bailout and brought up many discussions about how the execs were still being compensated so liberally. Plus, you must have missed the threads of outrage over the cruises and fun little parties that were being had after the money was set to come in. I can’t tell you the last time I had a bonus on a job, that’s because I own my own business. What makes you stay with GM? Are you FORCED to work at such ‘crappy’ place?
So now you want to berate people for making a FREE CHOICE of no longer buying into the company BS? You can take a hike. Your industry has far more powerful lobbies than I have and your group is quite represented on Capitol Hill. Who do you think has been helping all those lawmakers you are now conveniently criticizing? You can put out all the quality products you want,,your attitude and the fact you think you deserve more $$ from me and my family without challenge is all I need to know. I’ll buy a pogo-stick before I financially support a culture that turns out what you are selling.
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