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Well it is March, time for their "monthly allowance" so they can pay their bills.
We can do this all over again in April when they need more money yet again because I don't see car buying going through the roof this month.
It's politics. The Democrats don't want to be remembered as the party that signed the death warrant of the UAW by forcing GM to reorganize under Chapter 11.
Exactly. That's why Bush threw them a big enough bone to gnaw on until he could get his sorry butt out of the way of the collapse.
Give GM the money they want. Keep giving them the money they seek every time they make that trip to DC - each time asking them "Are you sure you need ANOTHER batch of money".
-Eventually they will feel so crazy, bordering on lunacy, that even they will realize it's foolish to keep asking for government handouts. Of course by that time, we'll be speaknig Chinese and all on governement subsidies.
With the $39.4 billion in loans to GM and Chrysler, the auto suppliers asking for $25.5 billion, and the $25 billion in federal loans for automobile manufacturers to develop more efficient and cleaner vehicles, the total comes to $97.4 billion.
Are sales improving, giving Americans hope that the bailout will end soon?
For the month of January, GM’s sales plunged 49 percent, and Chrysler’s fell 55 percent.
can america keeping giving this kind of money every month or so? people are still being laid off from GM even after getting the money.
Let 'em fail. I see no reason to believe they won't be back in 2 months begging for more.
GM needs to be broken up, it parts spun off or sold, and put out of its misery. The loss that it just reported is an indictment of management. It's as if GM management can't anticipate their way out of a paper bag. I can't support any major additional federal aid for that company.
While I may not agree with the Democrats' policy of corporate bailouts, I can understand that Obama (and Congress) do not dare betray the UAW that helps put them in office to begin with. Along with that I am also disappointed that my 12 year old Buick gets better MPG than the latest from GM. Sad really.
Bankrupcty is not neccessarily an option in this case, but the big 3 have made it abundantly clear that 3 separate giants cannot maintain competitive market equalibrium without federal aid.
At some point we have to stop providing corporate bailouts to undeserving companies at the expense of the taxpayer, unfortunately that is not an easy task during recession...
At this point, bankruptcy is the only option short of flat-out nationalization of GM. So far, the only thing the government has accomplished is to prolong the inevitable. But the damage they've done is worse than that. They have now piled a huge amount of debt upon GM that cannot be discharged in bankruptcy, which in turn has diminished the possibility that GM can reorganize under Chapter 11 and re-emerge as a viable concern. The bailout has not helped GM one bit but it may well have helped to bury them.
I say break it up, sell it off, and divide up the proceeds equally among all US taxpayers.
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New technique
