Treasury Blocks Merger - Page 2

Evotion · 11-02-2008, 08:07 PM

Quote:

Originally Posted by rlg3

Several media reports are reporting the the Federal Government is not going to offer a bailout plan for GM like it did for AIG, and several wall street firms.

If they the government doesn't bailout out GM what is GM's future?

I may be wrong but aren't you referring to this...

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GM, Chrysler Merger on Hold as Aid Hopes Fade
Topics:Labor Unions | Mergers & Acquisitions | Transportation | Automobile Industry
Sectors:Automobiles and Parts
Companies:General Motors CorpReuters | 31 Oct 2008 | 12:24 AM ET

A deal to merge General Motors and Chrysler has hit an impasse after the Bush administration ruled out funding for it, putting any merger on hold until after the U.S. presidential election, three people with direct knowledge of the talks said on Thursday.

CNBC.com
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Gm doen't need help... yet.

card21doc · 11-02-2008, 08:11 PM

The government has committed 25 billion dollars to help the "Big 3." At this point they are not willing to finance the GM-Chrysler merger.

rayhawk · 11-02-2008, 08:58 PM

Quote:

Originally Posted by card21doc

The government has committed 25 billion dollars to help the "Big 3." At this point they are not willing to finance the GM-Chrysler merger.

This money is to help fund research and development to meet the new CAFE requirements, which are particularly costly for the big 3 to meet. Of course, these standards won't apply to manufacturer's like Porsche/Ferrari so once again the government is giving a pass to the foreign competition and crippling the domestic's.

Supermans · 11-03-2008, 03:50 AM

http://www.iht.com/articles/2008/11/...iness/03gm.php

Well, hopefully things work out for GM.

Sir Charles · 11-03-2008, 10:18 AM

The board of directors at GM should be fired and replaced. They are the ones running GM into the ground. They need new and fresh ideas to stay alive IMO.

Design1stCode2nd · 11-03-2008, 12:31 PM

Current reports peg GM with 17bil cash on hand with a need of 11-14bil to be on hand to operate daily so you have 3-6bil left and they have a current cash burn of 1bil. The math is pretty simple if these figures are correct (excluding cash infusions, etc.) GM would be forced to file Chap. 11 in 3-6 months whether they want to or not.

If they can last to Jan and ***** I'd expect an emergency bailout bill to be pushed through to save the bacon.

*The_Blur* · 11-03-2008, 12:35 PM

Mods, we should be merging this thread with this thread.

*GTAHVIT* · 11-03-2008, 02:15 PM

Done!

And FYI, Keep all political debat and or presidential conversation out of this thread. We will delete or edit any posts that are politically charged.

Thanks.

*The_Blur* · 11-03-2008, 02:24 PM

Quote:

Originally Posted by gtahvit

Done!

And FYI, Keep all political debat and or presidential conversation out of this thread. We will delete or edit any posts that are politically charged.

Thanks.

I'm glad I could help.

Justin · 11-03-2008, 02:40 PM

Quote:

Originally Posted by gtahvit

Done!

And FYI, Keep all political debat and or presidential conversation out of this thread. We will delete or edit any posts that are politically charged.

Thanks.

What if we're supporting Fbodfather for president? Is that okay? Or perhaps shunt?

camaroshaun · 11-03-2008, 03:39 PM

Well that sucks!!!

StuMac · 11-03-2008, 04:01 PM

Um ... what bailout? They refused to help GM buy Chrysler, that's all. The article itself goes on to say how the government is looking at other options to keep the big 3 afloat.

11-03-2008, 03:50 AM	#18
Supermans Camaro & Stang Enthusiast Drives: 2011 Mustang 5.0 in Kona Blue Join Date: Mar 2008 Location: Miami Posts: 4,729 View My Garage	GM denied bailout money... http://www.iht.com/articles/2008/11/...iness/03gm.php Well, hopefully things work out for GM. __________________ Bought my Camaro from Eric Hall(817) 421-7266

11-03-2008, 12:31 PM	#20
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	Current reports peg GM with 17bil cash on hand with a need of 11-14bil to be on hand to operate daily so you have 3-6bil left and they have a current cash burn of 1bil. The math is pretty simple if these figures are correct (excluding cash infusions, etc.) GM would be forced to file Chap. 11 in 3-6 months whether they want to or not. If they can last to Jan and ***** I'd expect an emergency bailout bill to be pushed through to save the bacon. Last edited by GTAHVIT; 11-03-2008 at 02:10 PM. Reason: Sorry Stict policy against political and campaign discussion.

11-03-2008, 12:35 PM	#21
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,768	Mods, we should be merging this thread with this thread. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

11-03-2008, 02:15 PM	#22
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,441 View My Garage	Done! And FYI, Keep all political debat and or presidential conversation out of this thread. We will delete or edit any posts that are politically charged. Thanks. __________________ Click image to see build thread. PQ - "the love of cars. It's a boys first step toward manhood and a mans last hold on boyhood." Fbodfather - "We do not want to use the Z28 moniker on a car that does not deserve this hallowed name." The_Blur - "Let's not confuse competitors with equals."

11-03-2008, 04:01 PM	#26
StuMac Drives: 2010 CMG 2SS Join Date: Oct 2008 Location: NS, Canada Posts: 117	Um ... what bailout? They refused to help GM buy Chrysler, that's all. The article itself goes on to say how the government is looking at other options to keep the big 3 afloat. __________________ Cyber gray!

11-02-2008, 08:11 PM	#16
card21doc Drives: 13 Hotwheels Camaro 2SS Join Date: Jul 2008 Location: Central IL Posts: 71	The government has committed 25 billion dollars to help the "Big 3." At this point they are not willing to finance the GM-Chrysler merger.

11-03-2008, 10:18 AM	#19
Sir Charles MilitaryTuners Drives: Lexus SC400 Join Date: Mar 2008 Location: Las Vegas, NV - Nellis AFB Posts: 32	The board of directors at GM should be fired and replaced. They are the ones running GM into the ground. They need new and fresh ideas to stay alive IMO.

11-03-2008, 03:39 PM	#25
camaroshaun Drives: 2010 Camaro SS1 (in 2009) Join Date: Oct 2008 Location: San Jose, CA Posts: 42	Well that sucks!!!

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