Report: GM to say, 'more aid or bankruptcy'

MarketWatch ^ | Feb. 14, 2009 1:36 p.m. EST | John Letzing, MarketWatch

[Ernest_at_the_Beach]

SAN FRANCISCO (MarketWatch) - General Motors Corp. will offer the government the choice of giving it billions more in bailout money or seeing it file for bankruptcy when it presents a restructuring plan next week, according to a report published Saturday.

The online edition of The Wall Street Journal, citing unnamed sources, said the competing choices present a dilemma for the Obama administration, which may fear seeing the industrial icon carmaker fall into bankruptcy and cut more jobs if it's refused more aid.

The government has already committed $13.4 billion to GM as part of a federally-funded bailout. The automaker is expected to include its call for more funds in a restructuring plan it's required to submit to the Treasury Department by Tuesday, though the company isn't expected to include a dollar amount, according to the Wall Street Journal report.

[Ernest_at_the_Beach]

It's a busy Saturday.

[Spktyr]

Hopefully, this is the translation: “You want us to keep employing your union thugs, you better pay up. Otherwise, we’re firing them all.”

[Ted Grant]

Big shocker, here!

[gondramB]

>>Hopefully, this is the translation: “You want us to keep employing your union thugs, you better pay up. Otherwise, we’re firing them all.”<<

That’s not far off...

[Seaplaner]

I hope GM survives...

...however, they will have to do so without any help from me.

As a once and former American Car Buyer, I now realize that buying American really sends some of my hard-earned money to the DNC (via UAW)

No more.

I would by a used Yugo before I send another farthing to the DNC or UAW.

.

[Logical me]

This sick piece of garbage Obama will give it to them. America is done.

[Road Warrior ‘04]

more aid or bankruptcy?

Bankruptcy!

Then renegotiate with the suppliers and workers and move forward reorganized to be profitable and get the gubment away from your business.

[Cyber Ninja]

Busting unions is Job-1

No, wait; that is Ford. All three should take the advise.

[pnh102]

If only Bush had let GM die. Then we’d not have this problem.

[rebapiper]

FILE FOR BANKRUPCY, NOW. WHAT ARE THEY WAITING FOR, FOR CONGRESS TO FEE US TO THE WOLVES.
WE’RE BEGGING NOW, STOP THE BAILOUTS, STOP THE GREEDY UNIONS, UNIONS THAT INFLUENCE OUR ELECTIONS CAUSING US TO GET PEOPLE LIKE THE CINTONS AND THE BOZO’S IN THE WHITE HOUSE, PEOPLE WITH LESS INTELLEGENCE THAN THE RATS, THAT LIKE THEM ARE INVADING THE HALLS OF OUR HOUSE AND SENATE.
MOST OF THOSE IN OFFICE DO NOT HAVE THE EDUCATION OR KNOWLEDGE TO BE SITTING IN OFFICE.
Bob Rubin got the ball rolling and the rats in congress are now following his lead into bankrupting this country.
WE HAVE AN ELLIGAL BODY OF GOVERNMENT.
THEY CAN’T PASS A STIMULUS PACKAGE, THEY REALLY CAN’T DO ANYTHING, THEIR CORRUPTION DISQUALIFIES THEM FROM HOLDING ON TO THEIR SEATS.
AS LONG AS THOSE RESPOSIBLE FOR THE MELTDOWN OF THE FINANCIAL MELTDOWN REMAIN IN OFFICE, THIS GOVERNMENT BODY IS ELLIGAL. YES ELLIGAL.

[Spktyr]

The good news - you finally figured it out.
The bad news - you’re REALLY behind the curve. If you and millions of others had realized this sooner, the UAW wouldn’t have had FOUR HUNDRED MILLION DOLLARS to spend to get Obombus elected.

The good news - there are good, American made cars that have no UAW or union involvement whatsoever.
The bad news - they’re not made by Ford, GM, or Chrysler.

[devane617]

http://www.freerepublic.com/focus/f-news/2185713/posts

[rebapiper]

GM will survive if they will file bankruptcy, they can start fresh and get rid of the low life greedy union thugs.
K Mart filed bankruptcy and they turned around and BOUGHT
SEARS, No Union.

[library user]

That didn’t take long.

[jla]

What a farce this all has become. Henrietta Hughes should be immediately named GM’s new CEO

[Oldpuppymax]

Leave it to GM to make a king sized sucker out of the supreme DC sucker-maker! “Dear Mr. Hussein, pour billions more down this already festering rat hole, or we’ll fire and thereby royally P.O. the union thugs who gave you millions! Please make that check out to CASH, or to the Doral Golf Club and Resort, Miami Fla!” BWAHAHAHAHAHAHA!

[rebapiper]

If the Rats want to stay in office they have to protect the unions, that's their life line, their bread and butter.
obozo is still on the campaign trail, that should tell you something, WHO'S RUNNING THE COUNTRY?
obozo is the mouth piece for the Clinton and the communist
party that hyjacked our government offices. obozo has to sell the stimulus package if the unions want to stay afloat,
obozo, the Clintons and the Demorat party have got to protect and defend ACORN. ACORN wins elections.
bozo did not win ACORN won. Acorn needs money and their is plenty of money for Acorn and those associated with Acorn in the stimulus bill. The bill MUST pass to pay Acorn for election fraud.
bozo lost, Acorn won.

[steve86]

What would happen to warranties in a BK? Is this something that the civil actions of the Trustee would establish. I knew when I bought a one year old GM vehicle for 43% of the actual new price last month that the warranty might not be in it for the long haul.

[Ernest_at_the_Beach]

Here's a thread about who is behind Obama:

Obama: Trilateral Commission Endgame (Update 1)