Skip to comments.White House to Release GM An Additional $4-Billion To Stay Afloat (UAW Uber Alles!)
Posted on 02/16/2009 6:55:55 PM PST by GOPGuide
Obama administration sources tell me that tomorrow they will release $4-billion to General Motors Corp.
The White House move comes one day before car giants General Motors Corp. and Chrysler LLC are scheduled to submit cost-cutting plans to the administration in exchange for some $17.4-billion dollars the government lent them in December.
The Obama administration was to have six weeks to rule on the future of the U.S. auto industry, with a March 31 deadline for deciding whether GM can keep the $13.4 billion and Chrysler the $4 billion given to them.
But White House officials tell me that no one wants GM to go under while they assess this long-term restructuring plan.
They believe this $4-billion is essential to keeping GM afloat until their decision in March.
GM and Chrysler may have to give it back? Hah! Its long gone. But, of course, everyone knows that—its just a big game of pretend.
More Union payoffs.
You are a RACIST for questioning the Messiah!
We’ll never see that money again, down the black hole it goes.
That there is one horrific sentence - so easily accepted and so destructive in its implications.
Michelle was right, he is gonna "rule".
Let's see - Georgie promises Rahm favorable coverage on ABC and in return, Rahm gives Georgie these tid bits from time to time to enhance his cred with his fellow travellers.
This is BS. The automakers were to submit their plan BEFORE they got the money but it looks like Obama is arbitrarily changing the terms.
GM market Cap is only 1.5 Billions and this is after the first infusion of Billions. Now we are going to dump additional 4 Billion into the rat hole. It would be cheaper to close it down and send a payroll check to workers for years.
Yep, I’m expecting the “That’s Racist” boy pic to show up anytime now.
The UAW is about to replace Jonestown as the deadliest mass suicide cult in modern history.
The UAW and the failure of the auto manufacturers might just be BO’s ultimate achilles heel.
How long did it normally take the Politburo to rule on Trabant?
Very scary indeed.
GM Suit: That better damn well be March first.
If he had an Auto Czar, the Czar would only be answerable to obama. With no Czar no private meeting with obama. They get blamed for their decision. Consensus that O just accepts (votes present again)The leadership we expect , the leadership they deserve.
I am confused. Where in the Constitution does it allow the executive branch the power to allocate taxpayer dollars to specific companies????
Democrat Rep. Henry Waxman: ‘Oversight of the Internet is One of His Top Priorities’
Monday, February 16, 2009 | Kristinn
Posted on 02/16/2009 6:59:38 PM PST by kristinn
BO and the unions, all liberals for that matter, are like the family who has maxed out their credit cards, home equity, etc. and are barely able to keep going from month to month. They are using their credit cards to pay other credit cards. Then, wonder of wonders, they get another credit card with a big limit. And the go right along, charging stuff, just like always. Guess where they will be in a short while.
I can’t believe they announced they would be willing to give GM another $4 billion to keep them going. Right on the eve of having to get major concessions from the unions.
Never learn do they?
As I posted on another thread, it is far past time to put GM out of business. We NEED to NOT buy from them, at all. They need to have the union broken, and liberal politicians will NOT do it. We have to. Boycott GM, lets stop the bleeding of our tax dollars. Enough.
The food I ate as a child, and the house I lived in were payed for in large measure with money my father earned at GM. Having said that, at this point I think it would have been much better to have let them fail on the basis of their poor decisions than to have the liberty of my nation challenged by things such as a committee appointed to oversee auto manufacturing in the US. If GM, Ford, and Chrysler all failed, the country would be just fine, and another group of transportation companies would take their place and likely do a better job. On the other hand, the damage done by letting the government make decisions about how private companies are run is profound.
How in the name of all that is holy, is the White House able to release funds to anyone? Congress controls the purse strings. WHAT THE HELL ARE THESE MONSTERS DOING TO MY COUNTRY?!?!
They intend to destroy the country!
And reduce us to Dhemi-tude!
They may succeed at the first.
But I WILL NEVER be subject to Islam as a Dhemi.
NEVER, Take that to the bank!
I’m with you. They’ll have to kill me first.
I looked but could only find the Article 2, section 8 where they are given the power to provide and maintain a Navy. See, if companies like GM and Ford fall flat on their face, we may not be able to "provide and maintain a Navy".(Only picked the Navy as there's lots of steel involved: could apply to any of our services)
The other sh*t our government wastes money on could come under the column of 'general welfare'. What's more important? Being able to fund Welfare, or the tools necessary to succeed in Warfare?
What good is it to feed someone if the cost of doing so means you can't defend them? Defense has so many practical applications, that's why I love the 2nd ammendment. Works for me, works for others, works for all. Perhaps this is why the Left hates it. It works.
With the right incentives, GM and others could put country ahead of unions, if need be. Government couldn't build a tank, and if they could, I wouldn't want to ride in it.
Let's not replace the "Hearbeat of America" with, "The Heartache of America".
The question, of course, is which group of people these tanks will be used against as the Obama administration continues its assault on the Constitution.
Let any asshole try to take them away, including our 'present' president.
Some company on Monday can say “We have X dollars in the bank”
Then they get a bailout so on Tuesday they get to say “We have X + a Billion dollars in the bank”
FANTASY!! Nothing has changed at all! Why can’t you or I do that? It’s fraud! All it is is computer entries!
Is that all money is these days is just digits in a computer?
Let’s hope not. Because simple entries on a computer screen have no “value”. Has our money become officially valueless?
Nicely said. Too bad that it's already happening.
More like the “Heartburn Of America” now.
Is that all money is these days is just digits in a computer?
I think that it's from the TARP, which congress (including many Rs) foolishly passed with no meaningful restrictions on how it could be used.
While I think it was wrong for Bush to push the TARP, it's also hypocritical for Obama to bash Bush for the deficit increase he voted for when he was a senator, not to mention he is going to joyfully spend its money.
Yes. Very sad.
Chrysler cut backs...
Removed 40,000 of the 80,000 lightbulbs at its headquarters complex to save $400,000 a year.
Cut spending on Christmas decorations by at least $11,000, to $1,000 in 2008.
Turned down the temperature in hallways from 72 degrees to 68, to save $70,000 a year.
Put 32 pieces of art, appraised in 2007 at $2.3 million, up for sale.
Some of us realized this long ago and stopped buying their products and had therefore avoided heartburn that way.... but now, they’re giving it to us again and we aren’t even going to get a semi-usable car out of the deal!