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GM Hints It'll Seek More Federal Loans Early In New Year
Investor's Business Daily ^ | 2008-12-29 | Sean Higgins

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 ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; US: Michigan
KEYWORDS: 111th; automakers; bailout; bailoutnation; bho2008; bigthree; bush; bushsfailure; chrysler; communism; democrats; detroit; economy; epicfail; f; failure; financialcrisis; ford; generalmotors; gm; govwatch; handouts; mi; michigan; obama; obamatransitionfile; panicof2008; socialism; uaw; welfare
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Go to hell, GM.
1 posted on 12/29/2008 1:40:21 PM PST by rabscuttle385
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To: rabscuttle385

GM: I’ve fallen and I can’t get up!..............


2 posted on 12/29/2008 1:41:12 PM PST by Red Badger (I was sad because I had no shoes to throw, until I met a reporter who had no feet.....)
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To: PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...
*Ping!*
3 posted on 12/29/2008 1:42:54 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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The Money, Banking, and Financial Markets Ping List.

"Money, not morality, is the principle commerce of civilized nations."
—Thomas Jefferson

FR Keywords: moneylist, bankinglist, financelist

Please tag all relevant threads with the aforementioned keywords.

This can be a very high-volume ping list at times.

Ping list jointly pinged by rabscuttle385 and TigerLikesRooster.

To join the ping list:
FReepmail rabscuttle385 with the subject line add  moneylist.
(Stop getting pings by sending the subject line drop moneylist.)


4 posted on 12/29/2008 1:43:16 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: rabscuttle385

In 2010 or 2011, this will be a line in the Federal Budget.


5 posted on 12/29/2008 1:43:37 PM PST by El Sordo
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To: El Sordo




Paging Captain Obvious, Paging Captain Obvious.... phone...




6 posted on 12/29/2008 1:45:57 PM PST by FrankR (“Turtle up”, economically, for the duration of the 0bamanation.)
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To: bamahead; traviskicks

Never-ending corporate welfare ping!


7 posted on 12/29/2008 1:46:49 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: rabscuttle385

Go To Hell GM is being nice. Anyone buying a GM car in 2009,,or EVER??


8 posted on 12/29/2008 1:47:16 PM PST by austinaero ((More Bark, Less Wag))
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To: rabscuttle385

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!!


9 posted on 12/29/2008 1:50:21 PM PST by upchuck (Get ready for 2009: Pray; Raise/conserve cash; Pay your debts; Pray; Stockpile; Buy ammo; Pray)
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To: rabscuttle385
GM supplier Delphi suspends work at China factory
10 posted on 12/29/2008 1:51:17 PM PST by BGHater (Tyranny is always better organised than freedom)
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To: rabscuttle385

11 posted on 12/29/2008 1:51:59 PM PST by webschooner
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To: rabscuttle385

Dido, screw you GM and repeat after me CHAPTER 11 try it you might dump those stupid UAW Thugs. Amen.


12 posted on 12/29/2008 1:52:24 PM PST by gakrak ("A wise man's heart is his right hand, But a fool's heart is at his left" Eccl 10:2)
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To: rabscuttle385

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.


13 posted on 12/29/2008 1:53:57 PM PST by Huskrrrr
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To: rabscuttle385

Just like the heroin addict that promises to get clean tomorrow if you just give him enough for his fix today . . .


14 posted on 12/29/2008 1:54:11 PM PST by Opinionated Blowhard
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To: rabscuttle385

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.”


15 posted on 12/29/2008 1:57:36 PM PST by Big_Monkey
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To: Opinionated Blowhard

..also just like the SNL spoof, sadly it has come true..


16 posted on 12/29/2008 1:58:46 PM PST by norraad ("What light!">Blues Brothers)
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To: rabscuttle385
Wait .. these loans were supposed to help ... now they need more?

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.

17 posted on 12/29/2008 1:59:59 PM PST by Centurion2000 (To protect and defend ... against all enemies, foreign and domestic .... by any means necessary.)
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To: rabscuttle385

“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.


18 posted on 12/29/2008 2:06:46 PM PST by 2CAVTrooper
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To: rabscuttle385

Shouldn’t they change their name to Federal Motors?


19 posted on 12/29/2008 2:14:02 PM PST by devere
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To: upchuck
Time for the pubbies to draw a line in the sand and just say HELL NO!!

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)

20 posted on 12/29/2008 2:16:42 PM PST by MississippiMan
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To: devere
Federal Motors

Very good!

21 posted on 12/29/2008 2:17:54 PM PST by Jacquerie (Islam is a barbaric political system in religious drag.)
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To: rabscuttle385
Go to hell, GM.

As well as BANKRUPT! Enough is enough.

22 posted on 12/29/2008 2:19:35 PM PST by kcvl
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To: austinaero
Anyone buying a GM car in 2009,,or EVER??

Not in this family!

23 posted on 12/29/2008 2:20:21 PM PST by kcvl
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To: rabscuttle385

let me get this right, the f goverment tax,reg up to 1/3 of the cost of the car


24 posted on 12/29/2008 2:29:32 PM PST by shielagolden
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To: austinaero
Anyone buying a GM car in 2009,,or EVER??

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.

25 posted on 12/29/2008 2:29:51 PM PST by TwelveOfTwenty (How much money has your 401K lost since the Democrats took Congress?)
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To: rabscuttle385

They need to go out of business.


26 posted on 12/29/2008 2:30:34 PM PST by big'ol_freeper (Gen. George S. Patton to Michael Moore... American Carol: "I really like slapping you.")
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To: rabscuttle385

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


27 posted on 12/29/2008 2:31:05 PM PST by Kimmers
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To: rabscuttle385
I used to know a guy named Greg Martin.

He was a real a-hole.

Probably just a coincidence, right?

28 posted on 12/29/2008 2:35:37 PM PST by FatherFig1o155 (I love -- and miss -- the republic I grew up in: America.)
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To: devere
Shouldn’t they change their name to Federal Motors?

The government will probably force them to do that.

29 posted on 12/29/2008 2:41:36 PM PST by wastedyears (In Canada, Santa says "Ho Ho, eh?")
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To: kcvl

“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?


30 posted on 12/29/2008 2:46:17 PM PST by neocon1984
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To: upchuck

“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...


31 posted on 12/29/2008 2:51:40 PM PST by EEDUDE
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To: rabscuttle385

Who could have seen this coming? /s


32 posted on 12/29/2008 2:55:41 PM PST by 2 Kool 2 Be 4-Gotten
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To: neocon1984
If the UAW gets out of the conditions of the current bailout and it appears they will try, I'm in.
33 posted on 12/29/2008 3:02:02 PM PST by TwelveOfTwenty (How much money has your 401K lost since the Democrats took Congress?)
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To: rabscuttle385

Welp, that pretty much does it for me. No new GM cars for me! **** those guys, and **** the UAW.


34 posted on 12/29/2008 3:07:54 PM PST by dinodino
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To: webschooner

Can we stop posting this stupid photo? The car in question isn’t even made anymore, nor did Ford take bailout money.


35 posted on 12/29/2008 3:31:49 PM PST by Terpfen (Ain't over yet, folks. Those 2004 Senate gains are up for grabs in 2 years.)
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To: Terpfen

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.


36 posted on 12/29/2008 4:32:06 PM PST by webschooner
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To: webschooner
1 48 Jimmie Johnson Hendrick Motorsports
2 29 Kevin Harvick Richard Childress Racing
3 07 Casey Mears Richard Childress Racing
4 31 Jeff Burton Richard Childress Racing
5 24 Jeff Gordon Hendrick Motorsports
6 88 Dale Earnhardt Jr. Hendrick Motorsports
7 out 8 Almirola Aric Almirola Dale Earnhardt Inc
8 out 1 Martin Truex Jr.

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?

37 posted on 12/29/2008 4:53:26 PM PST by AGreatPer (Obama is not my president until we see his birth certificate. A real one.)
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To: austinaero
Anyone buying a GM car in 2009,,or EVER??

Depends.

will it be bought with credit extended and interest free or will it be a money out of pocket purchase?

Payback maybe.

Money out of pocket, not no but he!! no!

38 posted on 12/29/2008 4:57:18 PM PST by EGPWS (Trust in God, Question everyone else)
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To: AGreatPer

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.


39 posted on 12/29/2008 5:03:50 PM PST by webschooner
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To: AGreatPer

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.


40 posted on 12/29/2008 5:07:57 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: devere

No, they should be American Leyland.


41 posted on 12/29/2008 5:09:56 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: webschooner
"The reality is — your and my tax dollars will keep the UAW going (and therefore Chevy), no matter if it bankrupts the country."

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.

42 posted on 12/29/2008 5:22:35 PM PST by AGreatPer (Obama is not my president until we see his birth certificate. A real one.)
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To: webschooner

Fake but accurate. Okay, Dan.


43 posted on 12/29/2008 5:51:56 PM PST by Terpfen (Ain't over yet, folks. Those 2004 Senate gains are up for grabs in 2 years.)
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To: webschooner

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 ?


44 posted on 12/29/2008 6:45:08 PM PST by reefdiver (How do you keep the Conservative a Conservative, in Washington DC ?)
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To: rabscuttle385

45 posted on 12/29/2008 6:48:17 PM PST by rhema ("Break the conventions; keep the commandments." -- G. K. Chesterton)
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To: reefdiver

The money “loaned” to GM will never be paid back.


46 posted on 12/29/2008 6:53:47 PM PST by webschooner
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To: Terpfen

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.


47 posted on 12/29/2008 7:00:42 PM PST by webschooner
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To: webschooner

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.


48 posted on 12/29/2008 7:04:57 PM PST by Terpfen (Ain't over yet, folks. Those 2004 Senate gains are up for grabs in 2 years.)
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To: austinaero

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.


49 posted on 12/29/2008 7:18:53 PM PST by When do we get liberated? ((Ok, Im the official Pit Bull Defender/If you can't stand behind our troops, stand in front of them.)
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To: webschooner

ford did not get cash


50 posted on 12/29/2008 7:20:28 PM PST by When do we get liberated? ((Ok, Im the official Pit Bull Defender/If you can't stand behind our troops, stand in front of them.)
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