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Obama denies bailout funds for automakers
The Associated Press ^ | March 29, 2009 | PHILIP ELLIOTT

Posted on 03/29/2009 9:31:09 PM PDT by skinkinthegrass

WASHINGTON — The White House says neither GM nor Chrysler submitted acceptable plans to receive more bailout money, setting the stage for a crisis in Detroit and putting in motion what could be the final two months of two American auto giants.

(Excerpt) Read more at chron.com ...


TOPICS: Business/Economy; Front Page News; Government; US: Michigan
KEYWORDS: automakers; bailouts; bho44; generalmotors; gm; uaw
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...and when does the other shoe/boot drops...
1 posted on 03/29/2009 9:31:09 PM PDT by skinkinthegrass
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To: skinkinthegrass

Let’s hope so...GM needs to file bankruptcy and break the union to become competitive. NOT too big to fail.


2 posted on 03/29/2009 9:32:15 PM PDT by bigbob
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To: skinkinthegrass

I did a search...nothing came back.


3 posted on 03/29/2009 9:32:41 PM PDT by skinkinthegrass (just b/c you're paranoid, doesn't mean "they" aren't out to get you.. :^)
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To: bigbob
Let’s hope so...GM needs to file bankruptcy and break the union to become competitive.

agree, the company / union / country, needs that actions.

"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators." - P. J. O'Rourke
“The problem with socialism is that you eventually, run out of other people’s money.” - Margaret Thatcher
"There are two sets of rules. One set for the rulers and another for the rest of us." —Richard Yancey, former IRS tax collector

4 posted on 03/29/2009 9:34:54 PM PDT by skinkinthegrass (just b/c you're paranoid, doesn't mean "they" aren't out to get you.. :^)
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To: skinkinthegrass
GM plan was unacceptable, but AIG was?

This administation is a bunch of clowns

5 posted on 03/29/2009 9:35:39 PM PDT by stainlessbanner
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To: stainlessbanner
Unacceptable to the UAW.
6 posted on 03/29/2009 9:36:40 PM PDT by Jet Jaguar (Atlas Shrugged Mode: ON)
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To: skinkinthegrass

So can Wagoner keep his job?


7 posted on 03/29/2009 9:37:49 PM PDT by Neverforget01 (Talk is cheap...except when Congress does it.)
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To: skinkinthegrass

BTTT


8 posted on 03/29/2009 9:37:58 PM PDT by Fiddlstix (Warning! This Is A Subliminal Tagline! Read it at your own risk!(Presented by TagLines R US))
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To: skinkinthegrass

If I were to hire a guy to break the US automobile industry, he would do exactly what obama is doing.


9 posted on 03/29/2009 9:38:33 PM PDT by Jet Jaguar (Atlas Shrugged Mode: ON)
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To: skinkinthegrass

This is getting good...


10 posted on 03/29/2009 9:41:23 PM PDT by johnny7 ("Duck I says... ")
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To: skinkinthegrass

Smokescreen! New CEO is picked. He/she comes up with new plan. More billions for the UAW.


11 posted on 03/29/2009 9:41:30 PM PDT by nowheretohide
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To: stainlessbanner
This administation is a bunch of clowns

Did you see Obama is going to guarantee the warranties on GM and Chrysler vehicles?

12 posted on 03/29/2009 9:42:56 PM PDT by Go Gordon
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To: stainlessbanner

Funny how a liberal is doing this to working men, yet has no qualms with TRILLIONS for bankers etc. People actually need cars in our society, as opposed to credit default swaps. The irony. I can’t wait to see how sad the libs are.


13 posted on 03/29/2009 9:43:40 PM PDT by PghBaldy (Bernanke has lost control- he will now buy our bonds- soon no one else will.)
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To: nowheretohide
Smokescreen!

Yep

14 posted on 03/29/2009 9:44:39 PM PDT by RckyRaCoCo (I hear the words of Jefferson louder and louder as each day passes)
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To: nowheretohide
Smokescreen! New CEO is picked. He/she comes up with new plan. More billions for the UAW.

Exactly! And the UAW already knows it!

15 posted on 03/29/2009 9:45:36 PM PDT by kcvl
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To: skinkinthegrass
Aides note that Obama inherited the auto mess from his predecessor, President George W. Bush.

A bunch of finger-pointing babies...

16 posted on 03/29/2009 9:45:53 PM PDT by THX 1138
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To: Neverforget01

Just heard on ABC radio Wagoner resign amiist pressure from the thuggish Obama regime.


17 posted on 03/29/2009 9:45:53 PM PDT by ChiMark
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To: skinkinthegrass
Everyone calm down. GM's going to get the money. This is all show to make it look like Barry's in charge and in control.

Wagoner never would've stepped down if GM wasn't going to get the money. After all, the alternative is Bankruptcy. If GM were to go through a successful Bankruptcy preceding and come out the other end a leaner, more efficient company, whomever would be the CEO would make buckets of money on the back end.

I predict this, GM will get it's money in return for halting production on a number of SUVs and Pick-Up's and scaling back production on what's left. This is all about reducing choices to American consumers.

18 posted on 03/29/2009 9:45:57 PM PDT by Big_Monkey
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To: skinkinthegrass

Sad, but they can file bankruptcy and/or go under, like many other defunct auto manufacturers before them, including the American Motor Car Company, Edsel, and almost 1800 others that have bit the dust in America alone since car manufacturing began.

Why is this so difficult to understand? Companies go out of business. I mean, when was the last time any of you had a need for an 8-track tape? Or how often do you use clothes pins to actually hang laundry on the clothes line (the environmentalists are trying to bring that back, but not very successfully so far).

So, Detroit wouldn’t accept that people were tired of their product line and weren’t going to buy their cars. They kept making them anyway. Instead of inventing new and inventive products that fell into the consumer’s buying demands, they kept trying to force us into their cars. You can’t make people buy a product they don’t need anymore. (8-tracks and clothes pins) So, companies go under. You adapt or die.


19 posted on 03/29/2009 9:46:24 PM PDT by erkyl (The hottest places in hell are reserved for those who, in a period of moral crisis, stay neutral)
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To: skinkinthegrass
Here's what GM should do:

(1) Declare bankruptcy
(2) Void all UAW contracts
(3) Move all operations out of the U.S. to Brazil
(4) Make a car called the Chevy Hatchback that has "more junk for the trunk."

20 posted on 03/29/2009 9:46:42 PM PDT by Extremely Extreme Extremist ("President Obama, your agenda is not new, it's not change, and it's not hope" - Rush Limbaugh 02/28)
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