Skip to comments.GM Hints It'll Seek More Federal Loans Early In New Year
Posted on 12/29/2008 1:40:20 PM PST by rabscuttle385
Despite just receiving $13.4 billion in government loans, General Motors (GM) hopes to make another federal cash withdrawal, probably in early 2009.
GM spokesman Greg Martin noted the automaker had originally requested $18 billion in "bridge loans" and revolving credit from the government in late November to help survive the recession.
Instead, talks stalled in Congress and the Bush administration acted on its own to approve $17.4 billion in loans, with $4 billion going to Chrysler.
(Excerpt) Read more at investors.com ...
GM: I’ve fallen and I can’t get up!..............
In 2010 or 2011, this will be a line in the Federal Budget.
Never-ending corporate welfare ping!
Go To Hell GM is being nice. Anyone buying a GM car in 2009,,or EVER??
IMHO, this “bailout” BS has gotten completely out of hand.
Time for the pubbies to draw a line in the sand and just say HELL NO!!
Dido, screw you GM and repeat after me CHAPTER 11 try it you might dump those stupid UAW Thugs. Amen.
I’m sure the bail-out will have a negative effect on those thinking of buying a GM car. That, then, will cause a need for more bail-out funds, etc., etc.
Just like the heroin addict that promises to get clean tomorrow if you just give him enough for his fix today . . .
This will be going on forever - really, there will not be an end to it. The excuse will be going forward that the government now has to continue to fund the Big 3 to “protect their investment.”
..also just like the SNL spoof, sadly it has come true..
People that make loans to companies failing generally don't get it back after Chapter 11 .... so the taxpayer just sent a BOATLOAD of $$ to these idiots and won't get paid.
“Go to hell, GM.”
I agree. The spineless management refuses to stand up to the greedy unions who in turn refuses to take pay cuts.
Shouldn’t they change their name to Federal Motors?
They had their chance, even voted down the original banking bailout once before caving to the MSM. (Make no mistake: the MSM actually drives every bit of this.) You'd have a tough time assembling one complete spine from the entire GOP structure in Washington.
Our party as it currently exists is worse than worthless; it's detrimental. It's one thing to fight and lose, another to join ranks with the enemy, which is exactly what the current GOP has done. Beginning in 2010 and continuing until the job is finished, we need to vote out virtually every GOP incumbent.
The notion that We the People control our government is now nothing more than illusion. There's one big (liberal) power structure that controls everything federal. No more than 20%-30% of the country would agree with their policies (if the masses had the gumption to find out what those policies really are), but they control the entire federal government.
Bottom line? The left will cap off a 40-year coup on January 20 when they install their selected president.
MM (in TX)
As well as BANKRUPT! Enough is enough.
Not in this family!
let me get this right, the f goverment tax,reg up to 1/3 of the cost of the car
Not if the UAW is going to force me to choose between bailing them out to prevent Chapter 11 restructuring, or "feeling guilty" about not buying American. I'll take the guilt trip, which is getting shorter with every entitlement the UAW throws at me.
They need to go out of business.
When our family get togethers it looks like a Chevy dealership, we have been loyal GM supporters for years.....my husband is now looking to buy a new car and it is not going to be a GM
He was a real a-hole.
Probably just a coincidence, right?
The government will probably force them to do that.
“Anyone buying a GM car in 2009,,or EVER”??
My Camry lease is up soon and I was thinking of checking out the local Buick dealer. I don’t want to buy/lease one. I just want to tell them that I will never buy a GM car until they go bankrupt and get rid of the UAW and lousy management.
Any other takers out there?
“Time for the pubbies to draw a line in the sand and just say HELL NO!!”
They DID. It didn’t help much. Thank you Jorge...
Who could have seen this coming? /s
Welp, that pretty much does it for me. No new GM cars for me! **** those guys, and **** the UAW.
Can we stop posting this stupid photo? The car in question isn’t even made anymore, nor did Ford take bailout money.
In a word ... no. The concept of the pic is accurate. And why isn’t that car made anymore — because it’s another crap car from Detroit that the public wasn’t buying. If you don’t like the pic, don’t look at it. Ford will prolly be at the trough in 2009.
All of these drivers and cars are scheduled to run Chevy's this coming year in the NASCAR Cup races. What happens if there is no Chevy?
will it be bought with credit extended and interest free or will it be a money out of pocket purchase?
Money out of pocket, not no but he!! no!
Personally, I don’t want to pay taxes to keep Chevy supporting NASCAR. But that doesn’t matter.
The reality is — your and my tax dollars will keep the UAW going (and therefore Chevy), no matter if it bankrupts the country.
Those aren’t Chevies. They’re ‘the Car Of Tomorrow’ and the only thing GM about them is the badging on them.
All that happens is the stickers on the bodywork changes.
No, they should be American Leyland.
I'm with you all the way. If the money was to go toward building and improving vehicles, etc. I might agree. However the majority of it is going to the UAW. That stinks. Let them go into Chapter 11,
I did get my tickets to Pocono though.
Fake but accurate. Okay, Dan.
I agree with your NASCAR statement, (nothing against nascar) But an this is a biggy, Our Govt. loaned money to the auto Mfg’s.
But GAVE our money to select banks, no strings.
You want proof ? An example.
Citi Bank. (Bailed out) who owns Smith Barney, is buying brokers, with millions ea. to move a book of business to them from Morgan Stanley. no new business. and its our money they are using
Where is the press on this ?
The money “loaned” to GM will never be paid back.
The pic is a satire about the Feds dumping taxpayer $ down ratholes of insolvent corporations. If you want to get your panties in a wad about an accurate satire, knock yourself out.
Since this is a conservative forum, most here don’t care much for our tax $ being used in this way.
I fully understand what the picture is and the point of its repeated posting. I’m saying it gets the factual details wrong. You know, facts, those things Democrats hate.
Bought plenty in the past, and that G8 is a car I would buy in a heartbeat. Bought 3 Hondas, not impressed. Bought 9 Pontiacs (from a 71 Firebird hotrod to a 2002 Daytona GTP) and loved every one. I have been in the car business all my life and I can tell you the difference in quality between a GM and an import is minimal, with the exception of minivans.
ford did not get cash
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