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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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To: neocon1984
I don't trust any car that's UAW-built.
I wonder what the rank-and-file think of this:
http://www.clickondetroit.com/video/15908257/index.html
I wonder whether American taxpayers like funding fraud.
With federal money going in, they should hold UAW to federal rules. Will these jokers face Federal charges if they fake their timesheets like anyone else working on Federal work?
61
posted on
12/29/2008 10:30:13 PM PST
by
Gondring
(Paul Revere would have been flamed as a naysayer troll and told to go back to Boston.)
To: rhema
Chuck Asay is a great guy and an awesome cartoonist.
62
posted on
12/29/2008 10:35:50 PM PST
by
Gondring
(Paul Revere would have been flamed as a naysayer troll and told to go back to Boston.)
To: rabscuttle385
This was the basis for the Republicans bailout refusal. GM must go bankrupt, so the sooner the better. They can’t weather this crisis without a new business model that forces deep concessions from the UAW. They can’t. They can’t compete with Toyota and Honda over the long term with the current business model.
To: upchuck
They did say no. It was the new world order moderate Bush who said yes, not a Republican. Well, certainly not a CONSERVATIVE Republican.
To: Big_Monkey
Exactly. This is why I was writing my Congresscritters and telling them to insist on a pre-pack Chap 11 in a quid-pro-quo for the money.
Otherwise, it becomes a “well, the taxpayers can’t be seen losing 14, 20, 25, etc Billion Bucks... so we have to throw in another 5, 10, 15 to get back our original investment.”
That’s exactly how the initial $25B was going to work... and then Congress asked for a plan.
65
posted on
12/29/2008 11:05:11 PM PST
by
NVDave
To: rabscuttle385
GM's future falls on the union votes. The RATs are blackmailing Americas
automotive industries. How will they deal with Ford?
66
posted on
12/29/2008 11:08:05 PM PST
by
MaxMax
(I'll welcome death when God calls me. Until then, the fight is on)
To: rabscuttle385
This mornings announcement”GMAC gets 6 Billion from Treasury”
67
posted on
12/30/2008 5:44:51 AM PST
by
quack
("Those Who Sacrifice Liberty For Security Deserve Neither.")
To: rabscuttle385
Why should GM get tax money to pay in rebates on Caddies sold to the idle rich?
68
posted on
12/30/2008 6:09:47 AM PST
by
2harddrive
(...House a TOTAL Loss.....)
To: rabscuttle385; Abathar; Abcdefg; Abram; Abundy; akatel; albertp; AlexandriaDuke; Alexander Rubin; ..
69
posted on
12/30/2008 9:49:41 AM PST
by
bamahead
(Few men desire liberty; most men wish only for a just master. -- Sallust)
To: 2harddrive
Why should GM get tax money to pay in rebates on Caddies sold to the idle rich? Because the American sheeple are absolute idiots, who vote for representatives to implement things that they then whine and complain about later (but continue to support).
70
posted on
12/30/2008 10:08:41 AM PST
by
Gondring
(Paul Revere would have been flamed as a naysayer troll and told to go back to Boston.)
To: bamahead
Hey? Why is Ford in the bucket. They passed on TARP funds. Could you add the logo of all the banks that have gotten money, too, please. Chase, Citi, BofA, Wachovia, etc.
71
posted on
12/30/2008 11:57:47 AM PST
by
Jack Black
(ping can't be a tag line, can it?)
To: austinaero
"Go To Hell GM is being nice. Anyone buying a GM car in 2009,,or EVER??"
Not I!
72
posted on
12/31/2008 6:59:36 AM PST
by
rob777
(Personal Responsibility is the Price of Freedom)
To: rabscuttle385
Nooooooooooooooo! You think so?
73
posted on
12/31/2008 8:36:17 AM PST
by
NCBraveheart
(OBAMA/STALIN 2012...CHANGE YOU WILL SUBMIT TO!!!!)
To: rabscuttle385
Let's give the execs drug tests before they get their nation-destroying welfare. Others seeking welfare should have drug tests as well.
If we work hard enough there will be no welfare for anyone except those that are truly needy.
74
posted on
01/02/2009 4:45:05 AM PST
by
IbJensen
(MERRY CHRISTMAS EVERYONE! Next year: famine and communism!)
To: rabscuttle385; PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; ...
To: Dr. Marten
I like John Stossel, I think out of the entire MSM he’s one of the very few who’s actually honest in his reporting.
That said, since the unions do not want to make concessions I say let the big 3 file for chapter 11 and get rid of these greedy union slugs.
76
posted on
01/22/2009 9:19:46 PM PST
by
2CAVTrooper
(Man is not free unless government is limited.)
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