The Leaching Of America: GM And Chrysler Line Up For Another $16.7 Billion In Federal Loans

The US auto industry will destroy america (among other things). They can spend all the money they want to re-tool. That doesn't mean that people are going to actualy buy thier cars.

*facepalm*

What is so bad about applying for the same government incentives to make greener and better cars from the US government that foreign auto makers had received?

Try not to use logic on this board, your brain will hurt rather quickly.

vlad, how is that relevent to his comment about all companies applying for the same government loan?

And don't call me Dr. Kid. I have a doctoral degree and am 29, I earned it straight up and I am no kid. Take your insults somewhere else.

Huu76- Just a reminder that GM got away with paying back only a fraction of the actually funds delivered to them.

Agent we all know when the rest will be paid for..

See my previous posts re: the pig that feeds at the trough, comes back to the trough.

No surprises here, folks.

No big deal here; asian manufacturers get handouts every year!

Why is it a problem when american manufacturers get handouts?

omg this is terrable GM and Chrysler are getting the same loan that the likes of Nissian and Telsa got from the US government!

I may sound a little bit ignorant or naive, but didnt GM's commercials said they repaid the gov't loans 5 year ahead of schedule or something like that?

If that is what they said, then it just proved that its just poor planning by GM, because they could have used the extra cash paid to the gov't for this purpose... It kinda shows how competant the GM management team is...

If I am wrong, can someone please correct me...

If you read the article it cleary states that this loan is far cheaper than the first loan the recieved from the government. So it actually is a great business move that will save GM money in the long term.

I did not see that in the article. I just saw it said it is of lower interest than if they were to go to non-governmental sources like banks and private equity firms.

Hyundai: bailed out by Korea
Renault/Nissan: bailed out by France (20% state-owned)
VW/Audi 20% state-owned
Mercedes: bailed out by Dubai
Porsche: Bankrupt, bailed out by VW.
Entire Japanese auto industry: Lives off constant "clunkers" program and yen manipulation.

Do we really want our industrial base destroyed for a false notion of "free markets?"

oh, and as for Italy, forget it. All owned by perpetual ward of the state, Fiat. And yes, that includes Ferrari, Maserati, Alfa Romeo, too.......

WTF is a failed country?

Even though these funds were put aside for the auto companies to tap for new technologies, it is the responsibility of Corporations whatever there market to put aside a certain amount of profitt for future R&D. This is nothing new, we all know this is part of a responsible growing business. Once our Government gets into the practice of "bailing out" being a loan or no-loan they now become the corporate nanny which I disagree with. That is not the reason we have a Government. I would like to see the day GM and Chrysler both pay back the loans in full including interest with Corp Profits and our Government saying to them never again. That in itself would make them more responsible. I also don't like the idea of foreign manufactures getting US tax dollars for there R&D. I don't see Korea, Japan, Germany, etc giving GM, Chrysler or Ford R&D money.