GM worried about GOVT involvement!!!

ArcAngel · 05-14-2009, 11:23 PM

GM wary of government involvement in business operations
05/14/2009, 5:26 PMBY DREW JOHNSON

The United States government has already loaned General Motors more than $15.4 billion, but the Detroit automaker warns that close involvement with the federal government could hurt the company’s long-term outlook.

Although GM is currently being kept in business by government loans, the Michigan automaker wants to keep the U.S. government at arm’s length. GM is wary that too close of an involvement by the government could alter the company’s business plan and stock prices.
“We may … become subject to new and additional government regulations regarding various aspects of our business as a result of the U.S. government’s ownership in (and financing of) our business,” GM said in a document obtained by the Detroit Free Press. “These regulations could make it more difficult for us to compete with other companies that are not subject to similar regulations.”
If GM files for bankruptcy, the U.S. government will likely become a main shareholder. Although those shares could give the federal government voting powers, President Obama says he has no interest in running a car company.

What the hell did they think would happen??

Captain Awesome · 05-14-2009, 11:27 PM

They don't need any extra regulations. They need fewer of them!

ArcAngel · 05-14-2009, 11:31 PM

Quote:

Originally Posted by Captain Awesome

They don't need any extra regulations. They need fewer of them!

I agree but how do you expect that to happen when your sleeping with the enemy

lil_chef · 05-15-2009, 12:09 AM

Quote:

Originally Posted by ArcAngel

I agree but how do you expect that to happen when your sleeping with the enemy

tell them its not you......its me. its just not working out.

fdjizm · 05-15-2009, 12:13 AM

So they want to borrow money from the government but want the government to mind their business?? sounds backwards as hell. thats the govt. money why should they butt out?

Vizon · 05-15-2009, 12:17 AM

AKA they want money that GM wants to keep OR they will add more costs when the gov. see inside how cars are really made?

ArcAngel · 05-15-2009, 12:44 AM

Quote:

Originally Posted by lil_chef

tell them its not you......its me. its just not working out.

yea well I dont think Barack cares

DeathChill · 05-15-2009, 07:02 AM

Quote:

Originally Posted by fdjizm

So they want to borrow money from the government but want the government to mind their business?? sounds backwards as hell. thats the govt. money why should they butt out?

This guy knows what he's talking about.

If GM didn't want the government to be involved in their business they shouldn't have taken money from them. The government is interested in making GM a profitable company because it's the bailout money on the line.

You can't have your cake and eat it too.

CamaroHutch · 05-15-2009, 07:11 AM

Quote:

Originally Posted by DeathChill

This guy knows what he's talking about.

If GM didn't want the government to be involved in their business they shouldn't have taken money from them. The government is interested in making GM a profitable company because it's the bailout money on the line.

You can't have your cake and eat it too.

Last I checked, we were the USA, and a FREE MARKET..... They got a LOAN from the US GOV'T... the US Gov't did not buy the company... Obama even said that he had no interest in running the company. It makes perfect sence trying to keep them "at arms length"

fdjizm · 05-15-2009, 07:43 AM

Quote:

Originally Posted by CamaroHutch

Last I checked, we were the USA, and a FREE MARKET..... They got a LOAN from the US GOV'T... the US Gov't did not buy the company... Obama even said that he had no interest in running the company. It makes perfect sence trying to keep them "at arms length"

so they should be able to do whatever they want with that money now? throw parties, buy jets, etc...?? gov. should have no say in their 15.4 billion?

CamaroHutch · 05-15-2009, 08:37 AM

Quote:

Originally Posted by fdjizm

so they should be able to do whatever they want with that money now? throw parties, buy jets, etc...?? gov. should have no say in their 15.4 billion?

Hey its a loan, they can do as they please.... not to say there wouldn't be any consequences (No more loans, bad press etc.) Obviously they are not going to do that, but it was a loan.....

fdjizm · 05-15-2009, 08:46 AM

Quote:

Originally Posted by CamaroHutch

Hey its a loan, they can do as they please.... not to say there wouldn't be any consequences (No more loans, bad press etc.) Obviously they are not going to do that, but it was a loan.....

i really think your scaling it down a bit, this is not a personal loan its 15 BILLION dollars. the truth is they cant do as they please.

dbotsfordtat · 05-15-2009, 09:29 AM

Quote:

Originally Posted by fdjizm

i really think your scaling it down a bit, this is not a personal loan its 15 BILLION dollars. the truth is they cant do as they please.

Not to mention its our money they "borrowed", I want to know wtf their doing with it. Next year when I'm writing that check to the IRS, I'm going to want to see where its going and it better not be their plant in brazil. Free market my ass.

ArcAngel · 05-15-2009, 09:50 AM

Quote:

Originally Posted by dbotsfordtat

Not to mention its our money they "borrowed", I want to know wtf their doing with it. Next year when I'm writing that check to the IRS, I'm going to want to see where its going and it better not be their plant in brazil. Free market my ass.

Thats the biggest problem with this situation it's our money, yet the populace has no input nor ability to see the process

05-14-2009, 11:23 PM	#1
ArcAngel Drives: 07 Black Cobalt SS/SC Join Date: Aug 2006 Location: Manalapan-NJ Posts: 2,872	GM worried about GOVT involvement!!! GM wary of government involvement in business operations 05/14/2009, 5:26 PMBY DREW JOHNSON The United States government has already loaned General Motors more than $15.4 billion, but the Detroit automaker warns that close involvement with the federal government could hurt the company’s long-term outlook. Although GM is currently being kept in business by government loans, the Michigan automaker wants to keep the U.S. government at arm’s length. GM is wary that too close of an involvement by the government could alter the company’s business plan and stock prices. “We may … become subject to new and additional government regulations regarding various aspects of our business as a result of the U.S. government’s ownership in (and financing of) our business,” GM said in a document obtained by the Detroit Free Press. “These regulations could make it more difficult for us to compete with other companies that are not subject to similar regulations.” If GM files for bankruptcy, the U.S. government will likely become a main shareholder. Although those shares could give the federal government voting powers, President Obama says he has no interest in running a car company. What the hell did they think would happen?? __________________ Through HIM you believe in GOD, who raised HIM from the dead and Glorified him..

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05-14-2009, 11:27 PM	#2
Captain Awesome Account Suspended Drives: 2010 Camaro 2SS/RS Join Date: Apr 2008 Location: New York Posts: 3,746	They don't need any extra regulations. They need fewer of them!

05-15-2009, 12:13 AM	#5
fdjizm Account Suspended Drives: 2008 Mustang GT/CS Join Date: Mar 2009 Location: New Jersey Posts: 1,429 View My Garage	So they want to borrow money from the government but want the government to mind their business?? sounds backwards as hell. thats the govt. money why should they butt out?

05-15-2009, 12:17 AM	#6
Vizon Banned Drives: 2010 Mustang GT Join Date: Feb 2009 Location: Indiana Posts: 170	AKA they want money that GM wants to keep OR they will add more costs when the gov. see inside how cars are really made?