GM Pockets $4B More Of Your Money, Now Needs More Than Even Revised Forcasts Indicated

What happend to the U.S. Government trying to resolve drug related issues?!?!? The U.S. Government made themselves become problem solving drug lords...GM's problems is like "CRACK!"...They keep coming back for more! To the point the addiction can "KILL THEM!!!"

No, GM/Chrysler asked for much more money than was given. The 1st loan was that GM/Chrysler was given an amount to keep the plants open, lights on, and workers employed until the new administration took control. Once that happened GM/Chrysler was supposed to produce a plan of viability to show that they can stop losses and return to profitability eventually.

Also lets remember that the financial institutions got $850 Billion no questions asked, NOT A LOAN but CASH. And they are also getting a portion of the current bail out bill which I think approaches $1 TRILLION.

So really is the $4 billion that GM is getting all that big of a deal in the big picture?

IMHO GM is going to have to file chapter 11.

The main cause? They have to shed the existing UAW contracts and restructure.

Whether the bail is a loan or a gift, the fact remains it is tax payer money used.

Actually niner the current renegotiated UAW contract isn't that bad for them. Add in that GM has a fund setup to take care of the retiree pensions and things don't look to bad for the future, also the UAW can't be stupid enough to force the issue now.

GM's main problem is their inability to decide on a product faster than they can actually go from an idea to an engineered product. Until that is fixed GM will never be able to compete.

Actually niner the current renegotiated UAW contract isn't that bad for them. Add in that GM has a fund setup to take care of the retiree pensions and things don't look to bad for the future, also the UAW can't be stupid enough to force the issue now.

GM's main problem is their inability to decide on a product faster than they can actually go from an idea to an engineered product. Until that is fixed GM will never be able to compete.

Because Agent 009 doesn't like GM and wants to get the attention of other GM haters.

i agree that oo9 doesnt know what hes saying

And where did the loan money come from? The tax payers. So you tax payer dollars put to use.

I think this is a very misleading statement of facts and inflamatory at best. Sure it is designed to get your attention, but you are talking about something people have their lives invested in. Just tread lightly.

So has the banks and the States so next the articles should represent the same like" States and Banks pockets our money 2"...

Agent009 and his pictures LOL

It did seem appropriate since GM got the loot BEFORE the agreed upon time.

I prefer to call it commentary. Name any news source or entertainment site that doesn't give an opinion. Now think about that a bit before answering.

So because everyone else does something it makes it OK for you to do it too? Seriously didn't your dad teach you not to follow other's examples simply because it was acceptable or the 'cool' thing to do?

If you want to be taken seriously stand on your own and report the facts directly, without bias. Then you will get taken seriously instead of just a fan boy or hater.

Like what? tariffs on foreign-made cars? That would only push up the average cost of a car. (domestic automakers would be able to raise prices and still compete without improving the quality of their products) This, in turn, would mean fewer people could afford a new car.

How about the US automakers embrace automation? A robot can generally work many times faster than a person at repetitive tasks and do it with a fraction of the error rate of a human. We would end up with cheaper cars with a higher level of quality. Seems like a no-brainer to me.

But the unions won't let the makers automate certain jobs. So they are stuck running less efficiently than the competition.

Wow holmster, you really show how little you know about the automobile industry. Maybe you shouldn't be posting on this site.

"How about the US automakers embrace automation? A robot can generally work many times faster than a person at repetitive tasks and do it with a fraction of the error rate of a human. We would end up with cheaper cars with a higher level of quality. Seems like a no-brainer to me. "

Apparently you've never actually bothered to check to see how cars are made in past few decades. Wow..... people on this site never cease to amaze me with uninformed comments.

it just shows a trade imbalance with Canada, without specifying the types of goods that are being traded. For all we know, the imbalance could be mainly due to buying millions of tons of lumber and oil.

You want to be able to build a house at a reasonable cost? or drive 100 miles to visit your friends without braking the bank? well then we can't put tariffs or trade limits on lumber and oil from Canada.

minhvunguyen,

You do realize that the only reason why diesel is not on our roads is because of over regulation don't you? GM & Ford would LOVE to bring over their diesels from Europe, take a wild guess why they wont. Oh hell, I'll tell ya, its the over-stringent emissions regs. Instead of focusing on engine out emissions controls, CARB decided to f**k over the whole diesel world with their emissions standards.

Don't believe me? CHeck to see how many Duramax vehicles were sold in 2006, 2007 & 2008. Remember, 2006 had no DPF (and they still got good emissions).

As for hybrids, they are loss making machines (mostly speaking). GM/Ford already have good hybrids, its just eh media and eco-zealots who hate GM & Ford keep throwing their anti-detroit propaganda out there and everyone just eats it up. I do have to admit though, GM should have built a Prius competitor years ago (no one complain about that research project alled the EV1 please). It makes no sense from a logical standpoint, but people bought into it.

Neutral, don't forget about the high cost to manufacture diesel engines and the high cost of fuel when talking about why diesel isn't popular in the US.

Think about this Gm and Chrysler go chap 11 Ford gets to unload the Union and has taken no Gov money. Wow Fo Mo Co this could be real good for you!

If GM and Chrysler go under then expect all the US suppliers to go down with them. That hurts EVERY automaker who produces cars in the US: Nissan, Honda, Toyota, Hyundai, BMW, and Ford. It won't be good for any of these companies.