DescentBB

In December Bush gave them 10 billion, last month they asked for 20 billion more and it won't be the end of it.
I'm thinking we should take the money back and let them fail.
Take the 30 billion to help out those caught in the wake of the collapse and see if we can entice some Germans to come buy the company's assets so we could have at least one car company in America that has some real car builders at the controls!

Seriously, they have been building the Corvette for how many decades and they just now, in the last year or two, finally turned it into a decent sports car?!?!

Let them fail!

Wasn’t that “lent”?

I don’t know for sure, but that sounds a little personal.

And you should watch what you wish for…If GM gets sold it would more likely be to the Chinese.

“Seriously, they have been building the Corvette for how many decades and they just now, in the last year or two, finally turned it into a decent sports car?!?!”

What the hell do you want for 50.000, if you want a “real” sports car, just cough up the other 200.000 and but a Ferrari.

Spidey wrote:Wasn’t that “lent”?

I don’t know for sure, but that sounds a little personal.

And you should watch what you wish for…If GM gets sold it would more likely be to the Chinese.

“Seriously, they have been building the Corvette for how many decades and they just now, in the last year or two, finally turned it into a decent sports car?!?!”

What the hell do you want for 50.000, if you want a “real” sports car, just cough up the other 200.000 and but a Ferrari.

Spidey wrote:Wasn’t that “lent”?

I understand the propaganda is we've "loaned" them the money but really, do you think the federal government will ever give up it's ownership?!?
They are taking over major chunks of the financial market and the auto industry do you expect a better outcome than the one they produced managing the Social Security revenue?!? FEMA....War on Drugs...War on Terror....
Hell! They can't even manage their own borders!! And that is actually something they were supposed to do!!!

Spidey wrote:...
What the hell do you want for 50.000, if you want a “real” sports car, just cough up the other 200.000 and but a Ferrari.

I bought a 1988 Porsche, it's 22 years old and everything the Corvette has always supposed to have been....and it has cost me just under $20,000 total.
$6000 of that was to bring the horsepower up to today's super car level the rest just maintenance!
The car has a history of going 200,000 miles without any major engine work needed...some are now hitting 300,000 miles!
Put my 1988 Porsche on the track next to a 1988 Corvette and see the failure of GM...hell put my 22 year old car on the track next to almost everything GM builds today and see them fail!!

GM had some monumental issues that were left over from their halcyon years in the way of brokered contracts with the UAW. Back then GM was riding high with the phat lootz they were making and I guess they didn't see any competition from the Japanese. While Wagner may not of been part of the deal brokering, he was the one going to the feds hat in hand looking for help. Now he has to dance the Obama pole dance tune and depart.
Now the troubling part is while all this is going on, from what I heard, Fanny May and Freddie Mac execs got bail out money and still paid themselves handsome bonus's. No call for them to step down even tho they were in the eye of the banking crisis maelstrom. And of course we have the senators like Barney \"The Queen\" Frank and Chris \"Ho Ho Ho\" Dodd who were like Snidely Whiplash overseeing the whole mess to begin with.
If GM comes out of this as a profitable entity, then Wagner committing seppuku will be a good deal. We can only wait and see.

Obama fires Government Motors CEO?


LOL Now we got the President of the US firing people in a private company!!!??? WTF!!! When am I going to wake up from this nightmare to find myself safely in my bed in CCCP?

If GM wants da money from da government to survive, da old stuck in the mud, old idea man and his board has to go to get da taxpayer money for six more months.

If GM goes into bankruptcy, da bondholders will get royally hosed this time. By the way, GM bonds were classified as a 'do not buy' with financial experts 2 years ago!

tunnelcat wrote:...By the way, GM bonds were classified as a 'do not buy' with financial experts 2 years ago!

That sure is encouraging considering that my government is buying into them at a rate of 7.5 billion per month...using our money!!!

In the end I think GM will still have to file for chapter 11 so they can rearrange all those old UAW contracts. Then they can become competative.

Ford OTH, has refused the bailout money and is moving on. So what did Ford do right and GM did wrong? Both have UAW contracts that I suspect are identical in nature.

Ford had a better idea.

Obama’s new GM CEO: You know, bankruptcy looks really good now
LOL. You Americans!!!



Oh ...

This may be what Ross Perot meant by \"that giant sucking sound\".