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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.
What GM needs is reorganization under Chapter 11. It should be plainly obvious by now that GM is flat-out insolvent. There's a reason why there's nobody left on Earth that will extend credit to them except the federal government. The government should take the hint and stop prolonging the inevitable.
I say give it to them... but make it a requirement that they stop producing cars that burn fossil fuels... there is the way to stop the global warming issues and dependence on foreign oil. Just make the switch then while we ar e at it... require the same from imports. and guess what we change the nation in 1 year and not 30
What GM needs is reorganization under Chapter 11. It should be plainly obvious by now that GM is flat-out insolvent. There's a reason why there's nobody left on Earth that will extend credit to them except the federal government. The government should take the hint and stop prolonging the inevitable.
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.
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.
But that's what Delta did, and look at them now. A much better company then they were before the Chapter 11 reorganisation.
So now Obama will come up with another trillion or few hundred billions to give them and we haven't even begun to pay for the first big bailout of them.
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.
i bet they don't want to be remembered as the party that took the country under economically either but that is what will happen if they continue to think that they can prop up all failing institutions, especially when they are going to have to sell bonds to do it.
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...
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