Big 3 Loan Failed to Pass - Congress voting...Not promising. - Page 3

kevin2323 · 12-11-2008, 11:41 PM

THIS IS SAD AND REDICULOUS

Late this Pm via local news out of Detroit the UAW would not agree to requirements to disolve debt by 2/3rd's before one can get bail out money from the feds..
The senate canceled the bailout this is devestating to Michigan and the entire country!

Chemical · 12-11-2008, 11:46 PM

wow, Efing UAW... Chapter 11, best case for GM. I'm still buying a Camaro as soon as I am able to.

Hylton · 12-11-2008, 11:49 PM

Quote:

Originally Posted by Chemical

wow, Efing UAW... Chapter 11, best case for GM. I'm still buying a Camaro as soon as I am able to.

Same here.

jesserayjames · 12-11-2008, 11:52 PM

Looks like the auto indusrty is in big trouble.

http://www.msnbc.msn.com/

StuMac · 12-11-2008, 11:53 PM

Who knows, maybe the banks will break form and actually start loaning money starting with the big three. I know, wishful thinking. Maybe they should have asked for a handout instead of a loan, everyone assumes it's a handout anyway.

GrnMchin · 12-12-2008, 12:04 AM

I'm still have hope, but I heard that GM has bankruptcy attorneys looking at alternative and as said by other CH11 will more than likely lead to CH7, because share holders will want to recoup some of their money while possible.

Eighty-Six Z · 12-12-2008, 12:04 AM

Quote:

Originally Posted by Chemical

wow, Efing UAW... Chapter 11, best case for GM. I'm still buying a Camaro as soon as I am able to.

Same. I'm not cancelling my order. Here's hoping there is still a factory open to build it. :(

Tran · 12-12-2008, 12:04 AM

Quote:

Originally Posted by bob2the2nd

The white house was threatening to use part of the 700 billion dollars to help out the industry... hopefully they do.

Best we can hope for at this point, at least in the immediate future... SIGH :(

Hylton · 12-12-2008, 12:06 AM

Quote:

Originally Posted by Tran

Best we can hope for at this point, at least in the immediate future... SIGH :(

Wait until we see what political games are going to be played when Bush tries to do that.

*GTAHVIT* · 12-12-2008, 12:11 AM

Initially I though they gave Paulson way to much control over that money. But if it means he can cut a check to the big three, Maybe it was worth it. In my opinion I'd rather see that money spent on the big three than banks...

jesserayjames · 12-12-2008, 12:15 AM

Quote:

Originally Posted by Chemical

wow, Efing UAW... Chapter 11, best case for GM. I'm still buying a Camaro as soon as I am able to.

Do you think they will still build the camaro without the money

Eighty-Six Z · 12-12-2008, 12:17 AM

Quote:

Originally Posted by jesserayjames

Do you think they will still build the camaro without the money

I think they still will. I'm sure all of the development work was budgetd for this last year up until now. I'm sure that they have already made purchase agreements for materials to build the 2010 Camaro. We should know something soon.

*GTAHVIT* · 12-12-2008, 12:18 AM

Quote:

Originally Posted by jesserayjames

Do you think they will still build the camaro without the money

The UAW or GM without the UAW?

SoFlaZ · 12-12-2008, 12:20 AM

:(I hope they can work through this. Not like it was a bailout because it was a LOAN, THAT WILL BE REAPAID for much much less $$ than was handed over to everyone else. I hope the Camaro production will continue or i'll have to get a GTO or maybe even a *gulp* mustang...

12-11-2008, 11:41 PM	#29
kevin2323 Drives: challenger Join Date: Jul 2008 Location: miami Posts: 2,338	WOW JUST WOW BIG 3 LOAN FAILS .... THIS IS SAD AND REDICULOUS Late this Pm via local news out of Detroit the UAW would not agree to requirements to disolve debt by 2/3rd's before one can get bail out money from the feds.. The senate canceled the bailout this is devestating to Michigan and the entire country!

12-11-2008, 11:52 PM	#32
jesserayjames Drives: Drives a 2012 IOM 2SS/RS 6M Join Date: Nov 2008 Location: South Jersey Posts: 4,858 View My Garage	Auto Bailout Talks Collapse Looks like the auto indusrty is in big trouble. http://www.msnbc.msn.com/ __________________ CAMARO 2SS/RS 6M

12-11-2008, 11:53 PM	#33
StuMac Drives: 2010 CMG 2SS Join Date: Oct 2008 Location: NS, Canada Posts: 117	Who knows, maybe the banks will break form and actually start loaning money starting with the big three. I know, wishful thinking. Maybe they should have asked for a handout instead of a loan, everyone assumes it's a handout anyway. __________________ Cyber gray!

12-12-2008, 12:11 AM	#38
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,441 View My Garage	Initially I though they gave Paulson way to much control over that money. But if it means he can cut a check to the big three, Maybe it was worth it. In my opinion I'd rather see that money spent on the big three than banks... __________________ 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."

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12-11-2008, 11:46 PM	#30
Chemical Drives: 2SS RS Join Date: Jul 2008 Location: Texas Posts: 710	wow, Efing UAW... Chapter 11, best case for GM. I'm still buying a Camaro as soon as I am able to.

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GrnMchin Not easy being Green Drives: 67 Nova SS Join Date: Nov 2008 Location: Olympia, WA Posts: 2,256	I'm still have hope, but I heard that GM has bankruptcy attorneys looking at alternative and as said by other CH11 will more than likely lead to CH7, because share holders will want to recoup some of their money while possible.

12-12-2008, 12:20 AM	#42
SoFlaZ Drives: 2013 SS LS3 Join Date: Feb 2007 Location: WPB FL Posts: 947 View My Garage	:(I hope they can work through this. Not like it was a bailout because it was a LOAN, THAT WILL BE REAPAID for much much less $$ than was handed over to everyone else. I hope the Camaro production will continue or i'll have to get a GTO or maybe even a gulp mustang...