White House Approves $17.4 Billion Auto Loans to GM & Chrysler - Page 3

str8himalaya · 12-19-2008, 11:59 AM

Hopefully scott is happy with the news! Maybe all the letters finally paid off!

CamaroDude · 12-19-2008, 12:01 PM

YES!!!!!!!!!!!!!!!!!!!!!! About Time !!

: clap:

diddiyo · 12-19-2008, 12:06 PM

Quote:

Originally Posted by bigralph

Let's start partying likes is 1999

GM better not go back to 1999, that's the time when they were creating the problems (shitty cars) they're suffering from today.

StuMac · 12-19-2008, 12:11 PM

Quote:

Originally Posted by Hylton

Only for the next 3 months and then it's back to worrying again.

Except then they start selling the Camaro, so everything will be fine

.

On a more serious note, that's plenty of time to dig themselves out of "deficit spending" especially since they can use the deadline to put some teath into their negotiations with creditors. Lets just hope the second half of TARP has strings attached that will require banks to actually start loaning to free up credit like it's suppose to so people will start being able to buy cars again by then.

Muscle Master · 12-19-2008, 12:18 PM

Yay gooooo Chrysler........and GM lol thats great

So ford did not get the money? why

bobscogin · 12-19-2008, 12:30 PM

From the fact sheet:

"If the firms have not attained viability by March 31, 2009, the loan will be called and all funds returned to the Treasury."

How could they return the funds if you're using them to offset billions per month in losses. Won't the money be spent? I'd think that by March 31, 2009, it'll all be gone up in smoke.

Bob

bobscogin · 12-19-2008, 12:32 PM

Quote:

Originally Posted by Muscle Master

Yay gooooo Chrysler........and GM lol thats great

So ford did not get the money? why

Selling a lot of Mustangs.

Bob

Scott@Bjorn3D · 12-19-2008, 12:37 PM

Basically, either Obama would have to change the deal if the did not accomplish what the Bush contract says OR the have to sell off assets like the nice GM towers to pay off the loan in 30 days.

OR in reality then they would have to do chapter 7 and liquidate to pay off the goverment.

This is huge pressure from the goverment to get bond holders, UAW and management to get the job done.

Georgie · 12-19-2008, 12:53 PM

ford doesn't need it now; they say they can do it without taxpayer money

Georgie · 12-19-2008, 12:55 PM

Quote:

Originally Posted by Dragoneye

Why is it that Ford's statement was the longest, and they're not even wanting the money?

good business practice, a thorough strategy for the future

Jamestwilliams · 12-19-2008, 12:56 PM

Quote:

Originally Posted by garagelogic

Obviously your job wouldn't be affected by GM and Chrysler going bankrupt.

GatorBlue371 · 12-19-2008, 01:07 PM

Quote:

Originally Posted by bobscogin

Selling a lot of Mustangs.

Bob

obviously Ford hasnt heard about the new Camaro coming out.

SQUALO · 12-19-2008, 01:18 PM

Thank you from north of the border

Now the Canadian gov't can implement their plan & funds...BIG ANNOUNCEMENT COMING FROM CDN GOV'T SATURDAY!

Design1stCode2nd · 12-19-2008, 01:18 PM

It's what I expected and what should have been done by the senate. I still expect them to burn through this money in about 3-6 months. God help em if GMAC folds. No way to floorplan for GM dealers or at least fewer options.

12-19-2008, 11:59 AM	#29
str8himalaya A lot to learn! Drives: 2012 Camaro SS Transformers Edition Join Date: May 2008 Location: Ohio Posts: 132	Hopefully scott is happy with the news! Maybe all the letters finally paid off! __________________ 2012 Camaro SS Transformers Edition. Current Mods: -Kooks LTH with hi-flow cats -H-Pipe, resonator and muffler delete -Cold Air Industries CAI -Power Wedge

12-19-2008, 12:01 PM	#30
CamaroDude Look Ma Im A Music Artist Drives: 2017 Camaro RS Join Date: Aug 2008 Location: MI Posts: 158	YES!!!!!!!!!!!!!!!!!!!!!! About Time !!: clap:

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12-19-2008, 12:30 PM	#34
bobscogin Drives: 2016 Challenger R/T, 1965 Impala SS Join Date: Aug 2008 Location: Slidell, LA Posts: 116	From the fact sheet: "If the firms have not attained viability by March 31, 2009, the loan will be called and all funds returned to the Treasury." How could they return the funds if you're using them to offset billions per month in losses. Won't the money be spent? I'd think that by March 31, 2009, it'll all be gone up in smoke. Bob

12-19-2008, 12:37 PM	#36
Scott@Bjorn3D Drives: Kami, 2013 2SS LS3 Luvin Join Date: Oct 2008 Location: Eufaula, Alabama Posts: 6,427	Basically, either Obama would have to change the deal if the did not accomplish what the Bush contract says OR the have to sell off assets like the nice GM towers to pay off the loan in 30 days. OR in reality then they would have to do chapter 7 and liquidate to pay off the goverment. This is huge pressure from the goverment to get bond holders, UAW and management to get the job done.

12-19-2008, 12:53 PM	#37
Georgie Drives: Camaro... soon Join Date: Aug 2008 Location: Chicago Posts: 1,217	ford doesn't need it now; they say they can do it without taxpayer money

12-19-2008, 01:18 PM	#41
SQUALO Drives: CHEVROLET Join Date: Jul 2008 Location: YKZ, CAN. Posts: 4,258	Thank you from north of the border Now the Canadian gov't can implement their plan & funds...BIG ANNOUNCEMENT COMING FROM CDN GOV'T SATURDAY!

12-19-2008, 01:18 PM	#42
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	It's what I expected and what should have been done by the senate. I still expect them to burn through this money in about 3-6 months. God help em if GMAC folds. No way to floorplan for GM dealers or at least fewer options.