Auto Bailout Likely To Be Announced Friday
Dec. 19 (Bloomberg) -- General Motors Corp. and Chrysler LLC would get U.S. loans to stay afloat until March under a Bush administration rescue plan that may be unveiled as soon as today, people familiar with the talks said.
The government could take back the money should the automakers not comply with federal restrictions as a condition of receiving the funds, said the people, who asked not to be identified because the discussions are private. The plan isn’t final and may change, the people said.
The aid is intended to help GM, the largest U.S. automaker, and No. 3 Chrysler avoid collapse because they may run out of operating funds by early next year. GM and Chrysler have said they need $14 billion to stay in business through March and are temporarily idling plants to trim expenses.
better than bank bailout
If they are bailing out the banksters with no accountability and no questions asked, then they should bail out the auto industry. they are union busting and driving wages down. why not bail out the working man.
without unions you would not have weekends or overtime pay and you would be working 16 hour days at minimal pay and you would be competing for work against 8 year olds.People in this country forget where they come from.
"None are more hopelessly enslaved than those who falsely believe they are free".
Goethe
"None are more hopelessly enslaved than those who falsely believe they are free".
Goethe
Fourteen billions?
They will need at least 200 or 300 billions to reorganize, to develope new fuel-efficient models - and last not least enough custumers TO BUY the cars!
Fourteen billions - it looks to me like the "Washington Medical Team" threats a large gunshot wound with a Band-Aid.
Well... they're doing it.
Ugh.
The Decider decided to use TARP counterfeit money...
...to commence nationalization of industry. All part of the 25-point national socialist program.
Greetings complicit Nazi shoppers! /s
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"An error does not become truth by reason of multiplied propagation, nor does truth become error because nobody sees it. Truth stands, even if there be no public support. It is self sustained." -Mahatma Gandhi
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"...a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." -John F. Kennedy
Welcome to the 3rd World America
We're going the way of Venezuela's monetary policy, socialism, and to a certain extent, fascism. Stock up on ammo, food, and gold.
“Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost.” -- John Quincy Adams
'Orderly' auto bankruptcy is option: White House
'Orderly' auto bankruptcy is option: White House
The White House is considering an "orderly" bankruptcy for car companies as one of the options it is examining for the industry, according to a spokeswoman for U.S. President George W. Bush.
18/12/2008 11:36:05 AM
CBC News
The Bush administration wants to avoid a "disorderly collapse" of the sector, Dana Perino told reporters on Thursday.
There is an "orderly way to do bankruptcies that provides for more of a soft landing," Perino said.
"That would be one of the options. I'm not saying that is necessarily what would be announced," she said, according to Reuters
Perino said the White House is close to deciding what form a bailout may take.
The White House is putting a bailout package together after the U.S. Senate voted down an earlier attempt at bailing out the cash-strapped Detroit Big Three - General Motors, Ford and Chrysler.
http://news.sympatico.msn.cbc.ca/abc/world/contentposting.as...
First of all, Chapter 11 is
First of all, Chapter 11 is not disorderly in the first place. That's what it's there for! That is simply newspeak BS.
Second, they say that a prepackaged bankruptcy will put Ford at a competitive disadvantage. I agree!! So let them file a regular Chapter 11 like every other business and let the Fed stay the hell out of it! That will put Ford at an ADVANTAGE, like it should be, since they are in a much better position. THAT'S HOW FREE MARKETS ARE SUPPOSED TO WORK!!!!
http://federalfallacy.com
http://federalfallacy.com
Ford doesn't need bailout money
(at least not yet) They got a head start reorganizing on the other two and lined up a nice loan a while back.
I'm not so sure Ford needs
I'm not so sure Ford needs the bailout money. A few weeks back I read something about Ford having 50 or so billion in cash...
...
How is it that the Executive Branch holds so much more
than 1/3 of the power in the 3 branches of our government? I know Executive Orders seem the easy way these days, but why doesn't Congress (the House of Reps and the Senate) demand their full 1/3 of power? The judiciary is no better. When will honorable people rise to the top of our governing system? I'm ready for the States' rights to overrule these executive decisions. Just say No!
we have let them rule us
we are to blame
"None are more hopelessly enslaved than those who falsely believe they are free".
Goethe
"None are more hopelessly enslaved than those who falsely believe they are free".
Goethe