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GM to Tell Obama to Keep the Money Presses Running

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GM to Tell Obama to Keep the Money Presses Running

Old 02-14-2009, 02:12 PM
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Default GM to Tell Obama to Keep the Money Presses Running


This is NOT political, NOT about Obama -- it is about GM.


GM to say, 'more aid or bankruptcy'

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.

However, Treasury Department officials believe GM needs at least $5 billion more in loans to keep operating beyond the first quarter, according to the report. ...


http://www.marketwatch.com/news/story/gm-say-more-aid-bankruptcy/story.aspx?guid={D2483F8A-638A-4A2B-9EC2-428EE920D5E5}&dist=msr_1

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Old 02-14-2009, 02:23 PM
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Default Re: GM to Tell Obama to Keep the Money Presses Running

they closed 2 dealerships here on friday..


i lost some really good people/customers/friends..
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Old 02-14-2009, 02:31 PM
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Let them fail. The were slow to adapt to changing market conditions. I would never buy a GM product buy my tax dollars are being used to keep them in bidness which pisses me off. Corporate socialism for poorly run companies, plain and simple.
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Old 02-14-2009, 02:36 PM
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Default Re: GM to Tell Obama to Keep the Money Presses Running

Guess this was worthy of it's own story, related[img]../images/emoticons/wink.gif[/img]

http://www.marketwatch.com/news/story/report-union-breaks-off-talks/story.aspx?guid=%7BC6831869-1E05-4E6A-AF0D-1D85BA228254%7D&dist=msr_1

However, the AP reported that UAW negotiators walked away from talks with GM Friday night because the company made demands related to its cash contribution to retiree health-care funding perceived as "detrimental to retirees."

They're going to cut off their Viagra [img]../images/emoticons/wink.gif[/img]
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Old 02-14-2009, 02:47 PM
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23Dorado - 2/13/2009 5:31 PM

Let them fail. The were slow to adapt to changing market conditions. I would never buy a GM product buy my tax dollars are being used to keep them in bidness which pisses me off. Corporate socialism for poorly run companies, plain and simple.
Exactly,

What ever happened to free enterprise? Are they going to bail me out if my small business fails? HE!! NO
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Old 02-14-2009, 03:14 PM
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GhostShip - 2/15/2009 6:36 AM



Guess this was worthy of it's own story, related [img]../images/emoticons/wink.gif[/img]

http://www.marketwatch.com/news/stor...%7D&dist=msr_1

However, the AP reported that UAW negotiators walked away from talks with GM Friday night because the company made demands related to its cash contribution to retiree health-care funding perceived as "detrimental to retirees."

They're going to cut off their Viagra [img]../images/emoticons/wink.gif[/img]

WOW!!! Holly crap-olie!!! From that link:

GM says it owes $20.4 billion to a trust fund that will take over the obligation for the company's roughly 500,000 retirees' and spouses' health care next year, the AP reported.


Instead of spending my taxes on GM so they can pay for a higher than average level of retired union worker's health care, let my taxes be spend paying for govt sponsored healthcare -- after the retired union workers are made to sell their homes and whatever else of value to pay for their own medical bills. Hey, the unions milked this cow dry!!! Now they can suck on the bull's you-know-what.
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Old 02-14-2009, 03:19 PM
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Default RE: GM to Tell Obama to Keep the Money Presses Running

There is something seriously wrong with rewarding a failed business model with taxpayer money. I don't think there is any doubt they will get it. This is more payback than it is bailout.
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Old 02-14-2009, 04:12 PM
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Default Re: GM to Tell Obama to Keep the Money Presses Running

Who is GM, again?
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Old 02-14-2009, 04:20 PM
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Obama owes the unions BIG TIME. This will not be a bailout of GM as much as the UAW.

If there ever was a case for an orderly pre-packaged chapter 11, GM is it.
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Old 02-14-2009, 04:23 PM
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Just1more - 2/14/2009 4:12 PM

Who is GM, again?
Generous Motors.
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Old 02-14-2009, 05:16 PM
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Have you heard about GM's new windmill?
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Old 02-14-2009, 05:29 PM
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I say screw GM. The feds haven't done a d@^n thing to help HomeBuilders or any other small business. They say small business is the backbone of America and then they give billions to a screw up of a company like GM.
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Old 02-15-2009, 12:22 PM
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Let them file.
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Old 02-15-2009, 12:28 PM
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Only way to unhitch the UAW problem is to get them into bankruptcy as soon as possible. The whole plan should have been to assist them financially through a structured bankruptcy, not put them on life support. It's always harder to pull the plug later, they should have been let die.
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Old 02-17-2009, 05:32 AM
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Everyone lube up. I believe today is the day we find out how much we're going to be taken for.......again.
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Old 02-17-2009, 09:15 AM
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Same old same old. This was predicted when they got their first bail out, and this won't be the last time either. We have an administration that leads by fear mongering, and all the bailout recipients are following in lock step. You want to get anything... just preach that the world will end if you don't get it. This strategy will work until the dems get their asses handed to them in 2010.
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Old 02-17-2009, 09:21 AM
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Default Re: GM to Tell Obama to Keep the Money Presses Running

Guy on the radio said Obama tossed GM a $4-billion bone, should keep GM going until around summer time.
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Old 02-17-2009, 09:36 AM
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They can keep throwing billions at them....it's all money tossed in the garbage, IMO. I say let them file....restructure and close the plants where the UAW is entrenched. Then tool up in an area of the country where the UAW isn't a factor. While I hate to see US workers unemployed, these UAW folks deserve it.
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Old 02-17-2009, 09:37 AM
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RI Builder - 2/14/2009 3:20 PM

Obama owes the unions BIG TIME. This will not be a bailout of GM as much as the UAW.

If there ever was a case for an orderly pre-packaged chapter 11, GM is it.
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Old 02-17-2009, 10:05 AM
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I agree, screw'em!
Screw all those SOB mechanics at your local Chevy, GMC, Cad, Buick etc dealers. Throw those lazy bastids that wash the cars into the street. Get'em on the welfare scam... Those salesman... Just shoot them bastids...

No I don't have any affiliation with anyone at GM that I can think of, but I can see past the end of my nose.

No, I don't like the bail outs, no I don't have the answer (except disolve the unions which won't happen)
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