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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.
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.....)
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)
|
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.) |
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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)
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
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.)
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)
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))
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)
To: rabscuttle385
10
posted on
12/29/2008 1:51:17 PM PST
by
BGHater
(Tyranny is always better organised than freedom)
To: rabscuttle385
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)
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
To: rabscuttle385
Just like the heroin addict that promises to get clean tomorrow if you just give him enough for his fix today . . .
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.”
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)
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.)
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.
To: rabscuttle385
Shouldn’t they change their name to Federal Motors?
19
posted on
12/29/2008 2:14:02 PM PST
by
devere
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)
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