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GM and Chrysler Will Get $17.4 Billion in U.S. Loans to Survive
Yahoo News ^ | 12-19-08 | Roger Runningen

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 ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: autobailout; autoindustry; automakers; bailoutnation; gmbailout; rino; tarp
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To: WackySam

They’ll be back for more. This is just the start of the AMTRAK-ization.


281 posted on 12/19/2008 5:35:19 PM PST by ksm1
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To: 4Liberty

They’ll survive until it’s time to feed the union again.


282 posted on 12/19/2008 5:35:48 PM PST by Dionysius (Jingoism is no vice.)
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To: rom

“Ricers”? very insensitive.


283 posted on 12/19/2008 5:36:34 PM PST by 4Liberty (Discount window +fractional reserve banking = moral hazard + bank corporate welfare + Inflation tax)
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To: publana

“Not Yours to Give” (Davy Crockett):

http://www.juntosociety.com/patriotism/inytg.html';


284 posted on 12/19/2008 5:39:14 PM PST by 4Liberty (Discount window +fractional reserve banking = moral hazard + bank corporate welfare + Inflation tax)
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To: 4Liberty

REPOST - Not yours to Give (Davy Crockett):

http://www.juntosociety.com/patriotism/inytg.html


285 posted on 12/19/2008 5:40:29 PM PST by 4Liberty (Discount window +fractional reserve banking = moral hazard + bank corporate welfare + Inflation tax)
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To: WackySam

Did I really vote for this guy (twice)? What a terrible disappointment. On so many issues he is a flaming liberal.


286 posted on 12/19/2008 5:54:19 PM PST by DemonDeac
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To: pleikumud

“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.


287 posted on 12/19/2008 5:56:40 PM PST by DemonDeac
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To: DonaldC

“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.


288 posted on 12/19/2008 6:16:09 PM PST by Sunnyflorida (Unless you are nice and thoughtful you will be ignored. Write in Thomas Sowell.)
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To: Brit
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.”

Funny how if you go to any GM, Ford or Chrysler plant the parking lot is full of Toyotas, Nissans, Volvos, Subarus and Hondas.

289 posted on 12/19/2008 6:38:51 PM PST by meandog (Wasilla warrior in 2012!)
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To: wmfights

“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?


290 posted on 12/19/2008 6:45:26 PM PST by Drill Thrawl (Who is John Galt?)
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To: WackySam
His medicare policy has added more than 11 trillion to the unfunded entitlement debt. That alone makes him a failure of a president.

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.

291 posted on 12/19/2008 7:04:16 PM PST by wmfights (If you want change support Senateconservatives.com)
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To: Drill Thrawl
Can you say American Leyland?

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.

292 posted on 12/19/2008 7:07:51 PM PST by wmfights (If you want change support Senateconservatives.com)
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To: 4Liberty
Who’d buy these cars, NOW? What about parts, service, warranties?

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!

293 posted on 12/19/2008 9:19:19 PM PST by teletech (Friends don't let friends vote DemocRAT)
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To: anniegetyourgun
And, when they go belly-up in March, don’t you think W will have to answer for throwing our good money after bad?

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.

294 posted on 12/19/2008 10:09:53 PM PST by TheThinker (Shame and guilt mongering is the Left's favorite tool of control.)
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To: DemonDeac

They are already being rewarded with $17.4 billion from we the taxpayers.


295 posted on 12/20/2008 4:38:58 AM PST by pleikumud
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To: 4Liberty

Good question.


296 posted on 12/20/2008 5:48:04 AM PST by 2001convSVT ("People sleep peaceably in their beds at night only because rough men stand ready to do violence")
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To: clintonh8r

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.


297 posted on 12/20/2008 6:04:22 AM PST by zkbeta51
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To: 4Liberty

LOL. Yeah! The truth hurts :)


298 posted on 12/20/2008 7:28:21 AM PST by rom (Obama '12 slogan: Let's keep on hopin'!)
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I do not blame GW for this mess. I blame the UAW, solely. The money being extended to UAW was unavoidable, as I see it. Bankruptcy is surely in their future, but for historical perspectives the money was offered after much insight and discussion between Republican economic minds. This wasn't GW just venturing out with some impulsive reaction. This was thought through.

By the way......... good for FORD to hang in there on their own......

299 posted on 12/20/2008 7:49:52 AM PST by NoRedTape
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To: bronxboy

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.


300 posted on 12/20/2008 9:30:03 AM PST by austinaero ((More Bark, Less Wag))
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