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U.S. will guarantee GM, Chrysler warranties, Obama says (Article from 3/30/2009)
Automotive News ^ | 3/30/2009 | Neil Roland And Richard Truett

Posted on 08/20/2011 11:30:18 PM PDT by andyk

In a bid to boost flagging auto sales, the federal government will pay for any warranty repairs on a General Motors or Chrysler vehicle if either company can't because of financial problems or a bankruptcy filing, President Barack Obama said on Monday.

"Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always," Obama said in a speech. "Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty."

GM and Chrysler are at a high risk of bankruptcy as they face some of the lowest U.S. sales rates in 27 years, analysts have said. The government on Monday took several actions to help shore up the two automakers after forcing the resignation of GM CEO Rick Wagoner.

"Given where the industry is, these highly unprecedented actions are consistent with the unprecedented times we're in," Standard & Poor's analyst Robert Schulz told Reuters today.

Both companies have said that bankruptcy would snuff out sales because consumers wouldn't buy a car from a company that might not be around to honor the warranty and provide service and spare parts.

Any funds for the warranty program will come from the $700 billion Troubled Asset Relief Program (TARP) provided by Congress, according to White House fact sheet on warrantees that was distributed last night.

Support for scrapping incentive

Obama also on Monday said he will work with Congress to try to fund credits for consumers who turn in old cars and buy cleaner, more fuel-efficient automobiles.

Programs of this kind "have been successful in boosting auto sales in a number of European countries," Obama said the news conference. The auto scrapping program is part of a larger administration effort to increase car sales and modernize manufacturers' fleets.

Obama said he also will try to speed up programs to support immediate demand for auto sales. The administration will try to accelerate federal purchases of government cars and increase the flow of credit to consumers and dealers.

Also on Monday, the Internal Revenue Service will start a campaign to alert consumers of a new tax benefit for car purchases made between Feb. 16 and the end of the year, Obama said.

Partisan reactions

Lawmakers responded to Obama's initiatives along partisan lines.

U.S. Sen. Bob Corker, R-Tenn., a member of the Senate Banking Committee, said the administration used the Wagoner firing as a "sideshow to distract us from the fact that the administration has no progress to announce today.

"The administration is pursuing much of what we pushed for in December, but the delay of several months has increased the severity and sent billions of taxpayer dollars down the drain. Now any investment is likely unrecoverable and we are putting more and more jobs at the OEMs (original equipment manufacturers) and the supply chain at risk in a politically charged environment."

Senate Majority Leader Harry Reid expressed support for Obama's plans.

"We will not give these companies a blank check," the Nevada Democrat said in a statement. "If these companies do not develop strong plans to remain viable in the long term, they will lose our support."


TOPICS: Government; News/Current Events
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Let me say this as plainly as I can.

Oh, that crap is so grating.

GM says they won't cover warranties of the "Old GM" company, because after all, they're two different companies. But hey, the fedgov promised to make everything just fine. Yay! Spend more money!
1 posted on 08/20/2011 11:30:23 PM PDT by andyk
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To: andyk

Obama is an idiot.


2 posted on 08/20/2011 11:33:10 PM PDT by Jim Robinson (Rebellion is brewing!! Impeach the corrupt Marxist bastard!!)
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To: andyk

Your honor, I want to play the tape of the President of the United States saying he would take care of this recall issue on my car.

Can’t wait to see the law suits!

AWESOME! Obama didn’t have the authority to make that promise and no legislation will back him up on it.

What an idiot!


3 posted on 08/20/2011 11:34:08 PM PDT by dila813
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To: andyk

This is absolutely insane.


4 posted on 08/20/2011 11:34:17 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: andyk

Here comes the Auto Bailouts: Part II (Let’s go for more debt)!..(so that Obama can be reelected).


5 posted on 08/20/2011 11:35:13 PM PDT by JSDude1 (December 18, 2010 the Day the radical homosexual left declared WAR on the US Military.)
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To: andyk

Obama: “If you’ve got health insurance, you like your doctors, you like your plan, you can keep your doctor, you can keep your plan”...

Uh, yeah, sure...


6 posted on 08/20/2011 11:36:38 PM PDT by Zeppo ("Happy Pony is on - and I'm NOT missing Happy Pony")
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To: Jim Robinson

You got that right.


7 posted on 08/20/2011 11:37:47 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: andyk
GM says bankruptcy excuses it from Impala repairs
Rooters ^ | Fri Aug 19, 2011 3:47pm EDT | Jonathan Stempel
http://www.freerepublic.com/focus/f-chat/2766586/posts

8 posted on 08/20/2011 11:40:37 PM PDT by Paleo Conservative
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To: andyk

The democrats stole the GM bondholders money and turned it over to the UAW.

I will never ever buy anything made by these bailed out auto companies that are owned by thieves.

I want them all to wind up living in cardboard boxes on the streets of Detroit.


9 posted on 08/20/2011 11:42:41 PM PDT by Bobalu (He who is compassionate to the cruel will ultimately become cruel to the compassionate)
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To: andyk

Ford KILL and capture the entire car industry by using the MyT engine of Angel Labs.. http://angellabsllc.com/mytengine.html

This things is amazing in its scope...
I would LUV to have an outboard engine with one of these..
More power small footprint.. more mileage.. air cooled no oil.. lasts forever.. few moving parts.. easy to rebuild.. On and ON..

Amazing to me that it hasnt been sucked up somebody.. even the Japs.. or Koreans..
Simply amazing performance and concept..


10 posted on 08/20/2011 11:46:00 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: Paleo Conservative
My thoughts exactly. Who will be guaranteeing the cars? The NEW GM or the OLD GM. This is a bunch of BS.

The Impala in dispute in the lawsuit. If you drive one of these, save some money for tires.

11 posted on 08/21/2011 12:02:34 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


12 posted on 08/21/2011 12:04:49 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: hosepipe

http://fuel-efficient-vehicles.org/energy-news/?page_id=908


13 posted on 08/21/2011 12:05:06 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: andyk
"Because starting today, the United States will stand behind your warranty."

Uh, may need a little fixing:

Because starting today, everyones tax dollars the United States will pay for stand behind your warranty."
14 posted on 08/21/2011 12:14:15 AM PDT by Zarro (Jail Congress)
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To: Jim Robinson; andyk; Paleo Conservative; Lazlo in PA

While I certainly agree with your concise assessment of him as “an idiot” I’m flummoxed as to why you folks are discussing an article written in 2009 as if it were happening today.

Granted, the ramifications for today are here (as in the Impala lawsuit) but that wasn’t an issue when this article was written.

(Or am I reading this wrong?)


15 posted on 08/21/2011 12:14:22 AM PDT by shibumi ("A Republic - if you can keep it.")
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To: shibumi

No. You read it right. Apparently I was scammed thinking this article was a follow up to the lawsuit the transpired this week over the ‘07-’08 Impala. Nice catch.


16 posted on 08/21/2011 12:23:33 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: Lazlo in PA

For a minute I thought someone was playing “Let’s do the time warp again...” and I just couldn’t hear it.


17 posted on 08/21/2011 12:27:24 AM PDT by shibumi ("A Republic - if you can keep it.")
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To: shibumi; Lazlo in PA

See #8 - GM is denying (today) warranty coverage for “old” pre-bankruptcy cars whereas Obummer put the full faith and credit behind GM and Chrysler warranties in an effort to boost sales of Government Motors vehicles. The article just points this out. ;-)


18 posted on 08/21/2011 12:37:09 AM PDT by Tunehead54 (Nothing funny here ;-)
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To: hosepipe

As my grandpa used to say, if it sounds to good to be true ... well, you know.


19 posted on 08/21/2011 1:34:04 AM PDT by exnavy (May the Lord bless and keep our troops.)
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To: shibumi

It’s just a jump to the left. And then a step to the right.


20 posted on 08/21/2011 1:39:46 AM PDT by ScoopAmma (We are led by the Resident -in Chief; aka part-time member of Webelo Troop 44)
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To: shibumi
The point being made by posting the old article today, is the fact that GM and Obumbler lied about warranties being covered, and now those that bought them are screwed.

If you have a GM or Chrysler that is a couple years old, but still under the old warranty, you are out of luck.

21 posted on 08/21/2011 2:58:51 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: andyk

ping


22 posted on 08/21/2011 2:59:46 AM PDT by Obadiah (November 6, 2012 -- The date of the next great American Revolution!)
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To: Beagle8U
So let me recap the main points here:

- 0 has no clue and makes a promise that is absolutely BS

- Some fools believe him and take him at his word

- 0 overstepped his authority, and put taxpayers on the hook for his stupidity

- A large labor union benefitted from 0's manipulation of the market, while consumers got $crewed

And the news of this is . . . ?

23 posted on 08/21/2011 3:19:22 AM PDT by Quiller (When you're fighting to survive, there is no "try" -- there is only do, or do not.)
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To: andyk

LOL! As good as the Fed Gov those warranties are! Who could have seen that coming?


24 posted on 08/21/2011 3:27:05 AM PDT by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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To: hosepipe
I have been looking at the Smokey Yanick hot vapor adiabatic engine in a Pontiac Fiero. It was a 4 cylinder engine that produced 250 Hp and 0 to 60 in about 6 sec and 51 mpg. One of the cars is still around and runs. It was built in the 80’s I believe. Why didn't anyone manufacture it?
25 posted on 08/21/2011 3:39:08 AM PDT by carcraft (Pray for our Country)
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To: carcraft

Ford buried a couple of new engines themselves..
Corruption is a bad thing..


26 posted on 08/21/2011 4:00:16 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: andyk

obamacarcare + obmacare = hell I don’t know how much

It was pretty slimy but legal for GM to say they would honor their warranties sold under by the previous corporation.


27 posted on 08/21/2011 4:04:11 AM PDT by listenhillary (Look your representatives in the eye and ask if they intend to pay off the debt. They will look away)
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To: andyk

Nobody is responsible anymore.


28 posted on 08/21/2011 4:05:07 AM PDT by cripplecreek (Remember the River Raisin)
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To: hosepipe
The problem I see right now is that he doesn't have a working prototype. I would love to see the thing run. He does seem to be on to something but with no running prototype it will be a hard sell. I am a little skeptical.
29 posted on 08/21/2011 4:15:10 AM PDT by carcraft (Pray for our Country)
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To: andyk

30 posted on 08/21/2011 4:15:14 AM PDT by Zakeet (If it ain't broke, the Wee Wee will fix it until it is)
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To: shibumi

Thank you. I didn’t see what the big deal was as this was a known outcome from the TARP bailout. It isn’t/wasn’t anything new.


31 posted on 08/21/2011 4:22:57 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: andyk

That announcement is the Kiss of Death for GM and Chrysler.


32 posted on 08/21/2011 4:35:02 AM PDT by MCF
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To: carcraft

http://peswiki.com/index.php/Directory:Massive_Yet_Tiny_%28MYT%29_Engine


33 posted on 08/21/2011 4:35:27 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: andyk

Obamaramalamadingdong!


34 posted on 08/21/2011 5:01:05 AM PDT by PoloSec ( Believe how that Christ died for our sins, was buried and rose again for our justification)
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To: andyk

This article is satire, right ? Getting so hard to tell the dif these days.


35 posted on 08/21/2011 5:12:28 AM PDT by prov1813man (While the one you despise and ridicule works to protect you, those you embrace work to destroy you)
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To: andyk

This is rather an old article, isn’t it? Perhaps a follow-up to see if this actually happened would be worthwhile.


36 posted on 08/21/2011 5:14:33 AM PDT by Oceander (The phrase "good enough for government work" is not meant as a compliment)
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To: MCF
Your right, He has no business involving tax payer money to be responsible for poor engineering designs. It is not my problem GM designed, built, and sold to the public at a profit a piece of junk. That is GMs problem. If they do not step up and OWN their mistake, why should anyone buy their products? It's a gift to the other companies markrting people, Ford could buy 30 seconds of superbowl time and state their case very plainly where even a Chevy union worker would be ashamed of GM. Then put a fork in them, Done. like zer0 will be soon.
37 posted on 08/21/2011 5:16:39 AM PDT by reefdiver ("Let His day's be few And another takes His office")
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To: All
Update:

GM says bankruptcy excuses it from repairs on 400K cars

38 posted on 08/21/2011 5:38:01 AM PDT by Virginia Ridgerunner (Sarah Palin has crossed the Rubicon!)
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To: andyk
Obama lied and cars died.

This guy is a imbecile.

39 posted on 08/21/2011 5:40:27 AM PDT by newzjunkey
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To: Oceander
The relevance of the old article is posted at reply 38 which links to GM using bankruptcy as an excuse to avoid recall / warranty claims on Chevy Impalas.
40 posted on 08/21/2011 5:43:38 AM PDT by newzjunkey
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To: newzjunkey

Cool. Thanks!


41 posted on 08/21/2011 5:44:47 AM PDT by Oceander (The phrase "good enough for government work" is not meant as a compliment)
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To: Bobalu

The democrats stole the GM bondholders money and turned it over to the UAW.
++++++++++++++++++++
True.

What I don’t understand is why the major bond holders just rolled over and let Obama get away with it without a fight.


42 posted on 08/21/2011 5:46:42 AM PDT by InterceptPoint (w)
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To: InterceptPoint

I have pondered over the exact same question and the most plausible answer I have been able to find is that the assets were nowhere near enough to cover the outstanding liabilities.


43 posted on 08/21/2011 5:53:08 AM PDT by infool7 (Let us water the tree...)
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To: Jim Robinson

Jim

How much does the ferry to Martha’s Vineyard Cost? I need to get my car over there so Obama can fix it next week.


44 posted on 08/21/2011 6:27:52 AM PDT by ALPAPilot
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To: andyk

He can’t even guarantee that Granny and Gramps are going to get their next SS check. And come ‘14 are they going to conscript doctors to provide medical care for seniors? Because Medicare will be paying half pennies on the $ then, instead of the penny it now pays. And doctors would like to be paid, so they can pay their bills and payroll.


45 posted on 08/21/2011 6:28:34 AM PDT by GailA (Any congress critter who fails to keep faith with the Military, will NOT keep faith with YOU!)
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To: andyk
U.S. will guarantee GM, Chrysler warranties, Obama says

Repair for a GM by a "government mechanic"...

*SCARY*

46 posted on 08/21/2011 6:46:35 AM PDT by Caipirabob ( Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: ALPAPilot
How much does the ferry to Martha?s Vineyard Cost? I need to get my car over there so Obama can fix it next week.

Cahn't take your cah on the Woods Hole Ferry to Mahtha's Vinyahd. Pocket it in the lot over theah. Holder's people will take it from theah.


47 posted on 08/21/2011 6:50:57 AM PDT by Covenantor ("Men are ruled...by liars who refuse them news, and by fools who cannot govern." Chesterton)
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To: andyk
"Because starting today, the United States U.S. taxpayer will stand behind your warranty."

I make this guarantee because my ultimate goal is to fundamentally change how America operates. Bankrupting her will bring her to her knees. So these guarantees are a critical step in my process.

48 posted on 08/21/2011 6:51:34 AM PDT by takenoprisoner (Repeal the 16th amendment . Send Islam packing to their homeland.)
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To: andyk

So then what happens? Does your warranty claim then go to some federal bureaucracy to see if it gets paid? Will this bureaucracy be staffed with political appointees with a mandate to apply “social justice” parameters to their decisions, and decide whether your claim will be paid or not according to your minority status?


49 posted on 08/21/2011 6:55:16 AM PDT by tacticalogic
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To: andyk
Oh, yes, please, say this as plainly as you can. In fact, perhaps you should add being clear about this. Or, better yet, try being PERFECTLY clear about this. That one is very convincing.

Oh, wait, wait, wait. It's time to pull out the big guns. Go with, "Trust me when I say...". Nobody can argue with that.

50 posted on 08/21/2011 6:55:59 AM PDT by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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