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White House to Release GM An Additional $4-Billion To Stay Afloat (UAW Uber Alles!)
ABC ^
| February 16, 2009
| George Stephanopoulos
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.
TOPICS: Front Page News; News/Current Events; US: Michigan
KEYWORDS: 111th; automakers; bailouts; gm; uaq; uaw
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1
posted on
02/16/2009 6:55:55 PM PST
by
GOPGuide
To: GOPGuide
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.
2
posted on
02/16/2009 6:57:46 PM PST
by
rbg81
(DRAIN THE SWAMP!!)
To: GOPGuide
3
posted on
02/16/2009 6:57:57 PM PST
by
Logical me
(Oh, well!!!)
To: rbg81
You are a RACIST for questioning the Messiah!
4
posted on
02/16/2009 6:58:16 PM PST
by
GOPGuide
To: GOPGuide
5
posted on
02/16/2009 6:58:20 PM PST
by
Dallas59
("You know the one with the big ears? He might be yours, but he ain't my president.")
To: GOPGuide
We’ll never see that money again, down the black hole it goes.
6
posted on
02/16/2009 6:59:53 PM PST
by
dfwgator
(1996 2006 2008 - Good Things Come in Threes)
To: GOPGuide
The Obama administration was to have six weeks to rule on the future of the U.S. auto industry, That there is one horrific sentence - so easily accepted and so destructive in its implications.
7
posted on
02/16/2009 7:02:06 PM PST
by
keepitreal
(Obama brings change: an international crisis (terrorism) within 6 months)
To: GOPGuide
was to have six weeks to rule on the future of the U.S. auto industry,Michelle was right, he is gonna "rule".
8
posted on
02/16/2009 7:04:39 PM PST
by
budwiesest
(We're getting low on bread, can we get some more circus?)
To: GOPGuide
Obama administration sources tell me that tomorrow they will release $4-billion to General Motors Corp. 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.
How cute.
9
posted on
02/16/2009 7:04:50 PM PST
by
capydick
("History does not long entrust the care of freedom to the weak or the timid".)
To: dfwgator
black hole
10
posted on
02/16/2009 7:05:27 PM PST
by
al baby
(Hi mom. I love sarcaism)
To: GOPGuide
***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***
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.
11
posted on
02/16/2009 7:05:44 PM PST
by
tobyhill
(Obama gets no free pass from Free Republic!)
To: dfwgator
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.
To: al baby
Yep, I’m expecting the “That’s Racist” boy pic to show up anytime now.
13
posted on
02/16/2009 7:07:35 PM PST
by
dfwgator
(1996 2006 2008 - Good Things Come in Threes)
To: GOPGuide
The UAW is about to replace Jonestown as the deadliest mass suicide cult in modern history.
14
posted on
02/16/2009 7:08:20 PM PST
by
Loyalist
(Barry Barack Hussein Obama Soetoro Dunham Pumski! A man of many talents! A man of many names!)
To: GOPGuide
Well, making this announcement now will certainly make it easier for management to take a hard line with the unions.
</sarc>
15
posted on
02/16/2009 7:08:25 PM PST
by
jwparkerjr
(God Bless America!)
To: jwparkerjr
The UAW and the failure of the auto manufacturers might just be BO’s ultimate achilles heel.
To: GOPGuide
The Obama administration was to have six weeks to rule on the future of the U.S. auto industry How long did it normally take the Politburo to rule on Trabant?
17
posted on
02/16/2009 7:15:58 PM PST
by
.cnI redruM
(Change is not always good, and Hope is not a plan.)
To: keepitreal
18
posted on
02/16/2009 7:16:29 PM PST
by
jveritas
(God Bless our brave troops)
To: GOPGuide
The Then 'One', with his revolutionary green car of his day. Not to mention the private public partnership for a greater ......
19
posted on
02/16/2009 7:18:23 PM PST
by
Leisler
To: GOPGuide
They believe this $4-billion is essential to keeping GM afloat until their decision in March.GM Suit: That better damn well be March first.
20
posted on
02/16/2009 7:20:14 PM PST
by
Petronski
(For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
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