Are YOU CRAZY Enough To Let Them? GM Now Wants $5 Billion Of Your Money To Buy Chrysler!

Really? I don't know what's best, but it seems like they aren't so much a victim of the credit crunch, as they are suggesting, but more of a poor business model and some shaky products for entirely too long.

My argument all along.

yeah but thats the exact same thing that happened with alot of the companies in the bail out, our tax money went to bail them out for loans in many cases they shouldnt havent given the first place because of sketchy lending...............I wouldnt be for a merger funding of the 2 in the slightest, but I do believe the governement should step into help our struggling large Auto companies, not for their sake but ours if tehy were to go under, the loss of jobs, and other economic components wouldnt be an awful thing,no matter how badly some here are routing for their demise.

yeah they can have it But once they aquire Chrysler give every working american %50 ANY GM or Chrysler vehicle if not then they can go to HELL......My point is it has to benefit the American working class.....you know were scrathing their backs now they need to do the same for us

Will they promise not to make another request for another century?

This is getting crazy.. First $25 billion to bail out the industry, and as soon as that was granted they say they need $25 billion MORE.

Now GM wants $5 billion to but out a competitor so they can strip it out.

This is like giving your strung out cousin a loan for $25B for groceries and promise $25B more to help him keep the house. Then 3 days later you run into him at the dog racetrack betting your money and lend him $5B more to start an Amway business!

I bet all of the Detroit Three CEO's make their bonuses this year. If you can't make money or show progress towards making money then there should be no bonuses.

Lol. Love the example. It's so sad that it's true.

Also the $25B hasn't actually been given yet. The $5 Billion to assist w/ the Chrysler conquest shouldn't be given merely because it would simply shut down Chrysler and put about 60K people out of work. Which is NOT in the American people's best interest (and that should be the only thing that matters to the Gov).

Personally I would LOVE to see VW or Nissan/Renault end up w/ Chrysler. The plants would finally have product to build and either company could expand domestic manufacturing (win/win if you ask me).

damiko- It is agreed for automakers to use the $25 billion in both loans however they see fit. If they need it to make bonuses, or bring new technology to market, or even buy other companies.

YES it is a loan, but right now they haven't proved they are more worthy of getting a loan than a typical sub-prime applicant.

they have been producing some very shoddy cars as of late. The last example that I rented was a Jeep compass.

P A T H E T I C

I kept wondering why some one would even consider buying one.

If the government doesn't give it to GM, they'll just spend it on something as equally stupid so it really doesn't matter.

I'm not defending GM, they have made huge mistakes, and should sleep in the bed they made, but the truth of the matter is that the US government will not allow GM to fail. There are just too many jobs on the line. So what it comes down to is what is the cheapest way that the government can help. Giving GM enough money to acquire Chrysler means that GM will then have access to Chrysler's supposed $15 billion in cash. The new car sales market isn't expected to turn around until 2010. GM's burn rate is something like 1billion per month, so the need the cash to stay afloat in the meantime.

I agree. I'm not sure of GM's current rank as far as number of employees in the country, but I know they're somewhere in the top 5. If they should happen to fail for any reason all HELL would break loose.

Damikco makes sense and not a mindless bashers like most on here (i.e. amazinbimmer n co). The Auto industry goes way beyond the specific companies and affects many jobs. Also how would it look if a strong country like the US cannot maintain a domestic auto industry.

It is true that the billions is for infrastructure and it is a loan! No bank can lend it. I am for US companies BUT those companies and their management must be held liable for BAD decisions. I believe CEO Wagoneer is going in the right direction.

I personally cannot wait for the Volt.

this is freakin retarded. just let all the failure companies burn down and be nothing but history.

Sure, go ahead take it.

Wait! Just let me make $5B first and then you can take it.

Can I write a post-dated check for that amount? Or will you take a Money Order?

I actually want the govt to loan GM to money to purchase Chrysler just as they loaned those banks & finance companies billions to buy their failing competition. Believe it or not, these merger talks are dragging the US auto market down and most related businesses need some closure so they can begin to make plans for the next corporate move.

$5b what for? both companys are worth shit!!

Daimler wrote off all of its remaining Chrysler stock this last quarter as junk.

Other Countries help their auto industry and this is nothing new. Japan relieves the burden of billions of $$$ and pays both retirement and medical expenses for their domestic auto industry. Germany gives huge tax breaks worth 100's of million $$$ each year to its domestic auto industry.

Daimler is responsible for Chryslers current state since it never addressed the MPG trend in Chrylers line up and made Chrysler less desireable during these times.

Mr. Rick Wagoner
Chairman & Chief Executive Officer
General Motors Corporation
Detroit, Michigan

Dear Mr. Wagoner,

As a fellow native of Richmond, Virginia, and as an American taxpayer? I think I have the right to ask you one question: ARE YOU NUTS?????

Chrylser's model lineup, sales, profits and balance sheet are in worse shape than GM's, AND THAT'S PUTTING IT MILDLY!!!! What does Chrylser have that is worth $5 billion to ANYONE???

Bottom line, the government is giving money away to a bunch of white collar failures. At this rate the american government might as well.....uhhh actually forget it....just realize this is the blind helping the blind...LOOOOSERSSS to the domestic automotive corps....LMAO!!!

I'm confused. How can a company with 10 to 12 BILLION dollars in CASH be so desperate? Cerberus just needs to give Chrysler more TIME. The all-new RAMS just came out. The all-new 300's and Chargers will be ready in just over a year and a half. And so will the all new line of 'Phoenix' V6 engines. I don't want Chrysler to DIE. And it most likely will if GM gets its hands on it. 'MERGER'. Ya right. Where did I hear that before. I hope the GM/Chrysler deal is blocked somehow and Cerberus accepts Renault-Nissan's offer to buy 20% of Chrysler. The next Sebring being a redesigned Altima sounds great to me. Craig!! :o)

I really don't know what happens with this country, american cars don't start to increase theirs quality at all, all that they do is copy but is not enough. All of this companies are into serious economic problems, Chrysler in particular is a really nightmare, also Mercedes said in public that they know that this fusion was a mistake so they decide to break out. Now they request money to the goverment to scape from this giant crisis that is not correct at the end we have to pay for all of this.
Other things that I can't understand is why goverment now give money to the Banks to help for sure every body, but Banks doen't help people , they still increase interest rate, make more diffucult to obtain loan, and this country work with the credit system and now this system is complete down. The positions of the Banks now is get the money fron the goverment keep it but they don't help people at all.
What we can do where we need to call how what everybody do to help our country.
To give back the prosperity and security.
We need to take action to help our country.