GM Hints It'll Seek More Federal Loans Early In New Year

Investor's Business Daily ^ | 2008-12-29 | Sean Higgins

[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.

[Spktyr]

No, they should be American Leyland.

[AGreatPer]

"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.

[Terpfen]

Fake but accurate. Okay, Dan.

[reefdiver]

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 ?

[rhema]

[webschooner]

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

[webschooner]

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.

[Terpfen]

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.

[When do we get liberated?]

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.

[When do we get liberated?]

ford did not get cash

[Chode]

do I really have to say it???

[April Lexington]

No, they should be American Leyland.

Spot on, ol' chap! Finest motorcars, ah, ah, ah...

[edge10]

‘Anyone buying a GM car in 2009,,or EVER??’

Their supporters like to point at polls that show most people won’t buy a car from a bankrupt company. If that is so, why would any same person buy a car from a company that says it might go Chapter 7 and dissolve at any minute?

[edge10]

errr. any sane person that is.

[webschooner]

That was stated earlier in the thread. However, stay tuned. It is fairly likely Ford will be at the trough in 2009.

[Spktyr]

Here's their new logo:

[April Lexington]

LOL!

[April Lexington]

Man, they could build a GM Midget and a GMB and the ever popular GMB-GT!

[RockinRight]

I could have sworn the headline said:

GM Hints It'll Seek More From Federal Loins Early In New Year

[El Sordo]

: )