$15 billion approved for Automakers

nUcLeArEnVoY · 12-05-2008, 10:18 PM

Feel free to merge if the thread has been made whilst I type this, but it's breaking news:

http://www.autoblog.com/2008/12/05/b...lion-in-autom/

Thoughts?

*The_Blur* · 12-05-2008, 10:19 PM

I am so glad that my government saw the light of reason.

kevin2323 · 12-05-2008, 10:19 PM

thats fine but they better not cry when the big three come back for the other 19 they asked for....

stovt001 · 12-05-2008, 10:23 PM

Take what you can get. This should at least last until a more permanent solution can be arranged. Good move.

z28camaro2471 · 12-05-2008, 10:25 PM

Not only shouldn't they cry, they should give it to them and ask if there is anything else they need.

06GTO · 12-05-2008, 10:26 PM

how much is GM getting out of that?

*Camaro_Corvette* · 12-05-2008, 10:28 PM

probably most of it since ford doesn't even need it, and chrysler doens't need near as much

*TAG UR IT* · 12-05-2008, 10:37 PM

ouch. I sure hope GM requested more than they needed thinking this could happen. At least some help is on their way.

Inspector 17 · 12-05-2008, 10:39 PM

Now the focus at GM needs to be cutting back the cash burn and stopping the bleeding so they can stay alive.

*Camaro_Corvette* · 12-05-2008, 10:45 PM

I believe the 15 million is a lump sum to get GM through till march, during that time monthly business meetings w/congress will occur on progress, the big thing right now is making sure GM makes it to the end of the year, so congress has more time and GM has more time to come up with a plan. GM has a lot of work to do in the next few months to show the govt progress is going good, and that will lead them to give GM the rest of the money that they require to complete the rest of the plan.

DMX · 12-05-2008, 11:41 PM

Just enough to hold them over until the Obama administration (And all the new democratic lawmakers) takes office.

Dave_O · 12-05-2008, 11:52 PM

Let's hope it lasts long enough for them to get back on their feet...but I thought I read somewhere that GM needed $25 Bil to make it through the end of the year with the way things are going...?

ucla1ove3 · 12-06-2008, 12:05 AM

good job congress, they made the right move.

camaro5 · 12-06-2008, 12:24 AM

Quote:

Originally Posted by camaro_corvette

I believe the 15 million is a lump sum to get GM through till march, during that time monthly business meetings w/congress will occur on progress, the big thing right now is making sure GM makes it to the end of the year, so congress has more time and GM has more time to come up with a plan. GM has a lot of work to do in the next few months to show the govt progress is going good, and that will lead them to give GM the rest of the money that they require to complete the rest of the plan.

I agree.

Quote:

Originally Posted by DMX

Just enough to hold them over until the Obama administration (And all the new democratic lawmakers) takes office.

yep.

Quote:

Originally Posted by Dave_O

Let's hope it lasts long enough for them to get back on their feet...but I thought I read somewhere that GM needed $25 Bil to make it through the end of the year with the way things are going...?

I believe that was for a quarter. It's all guessing. Now, they'll all have time to think it through. Unlike Henry Paulsons' screwing us out of 350 billion, so far. Throw that naive dumb-ass out now! IMHO lol

I trust you Citicorp, and AIG. No strings attached, here you go. ---- $350 BILLION dollars! So far... He wants the other 350 now too.

2 weeks later...Citicorp: Hey you know what? Instead of loaning that money to consumers to buy everything, including cars, we'll just keep it! Thanks taxpayers, oh your Citi card payment is do now. grrrrrr

12-05-2008, 10:18 PM	#1
nUcLeArEnVoY Oldbie that nobody knows Drives: 2011 1SS/RS M6 Join Date: Jun 2008 Location: Homestead, FL Posts: 3,459 View My Garage	$15 billion approved for Automakers Feel free to merge if the thread has been made whilst I type this, but it's breaking news: http://www.autoblog.com/2008/12/05/b...lion-in-autom/ Thoughts?

12-05-2008, 10:19 PM	#2
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,769	I am so glad that my government saw the light of reason. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

12-05-2008, 10:23 PM	#4
stovt001 Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007 Location: California Posts: 3,812	Take what you can get. This should at least last until a more permanent solution can be arranged. Good move. __________________ "It's kind of fun to do the impossible" - Walt Disney There's a great big beautiful tomorrow shining at the end of every day There's a great big beautiful tomorrow Just a dream away

12-05-2008, 10:26 PM	#6
06GTO Drives: 06 GTO, 06 Z06, 06 X5 4.4 Join Date: Nov 2008 Location: SC Posts: 48	how much is GM getting out of that? __________________ '06 GTO M6 '06 Z06

12-05-2008, 10:28 PM	#7
Camaro_Corvette 36.58625, -121.7568 Drives: Team 1LE Join Date: Mar 2008 Location: Earth Posts: 23,709 View My Garage	probably most of it since ford doesn't even need it, and chrysler doens't need near as much __________________ I am seriously never serious vv V vv Next order of business

12-05-2008, 10:19 PM	#3
kevin2323 Drives: challenger Join Date: Jul 2008 Location: miami Posts: 2,338	thats fine but they better not cry when the big three come back for the other 19 they asked for....

12-05-2008, 10:25 PM	#5
z28camaro2471 C5 Member #227 Drives: Camaros Join Date: Sep 2006 Location: NY Posts: 808	Not only shouldn't they cry, they should give it to them and ask if there is anything else they need.

12-05-2008, 10:37 PM	#8
TAG UR IT www.Camaro5store.com Drives: 2014 ZL1 #705 Join Date: Jul 2006 Location: SA, Texas Posts: 26,558 View My Garage	ouch. I sure hope GM requested more than they needed thinking this could happen. At least *some* help is on their way.

12-05-2008, 10:39 PM	#9
Inspector 17 I love crepes Drives: 2017 ZL1 NGM A10 Join Date: Oct 2008 Location: Maryland Posts: 4,955 View My Garage	Now the focus at GM needs to be cutting back the cash burn and stopping the bleeding so they can stay alive.

12-05-2008, 10:45 PM	#10
Camaro_Corvette 36.58625, -121.7568 Drives: Team 1LE Join Date: Mar 2008 Location: Earth Posts: 23,709 View My Garage	I believe the 15 million is a lump sum to get GM through till march, during that time monthly business meetings w/congress will occur on progress, the big thing right now is making sure GM makes it to the end of the year, so congress has more time and GM has more time to come up with a plan. GM has a lot of work to do in the next few months to show the govt progress is going good, and that will lead them to give GM the rest of the money that they require to complete the rest of the plan. __________________ I am seriously never serious vv V vv Next order of business

12-05-2008, 11:41 PM	#11
DMX Drives: CrownVic,Suburban,Silverado,F150 Join Date: Sep 2008 Location: USA Posts: 60	Just enough to hold them over until the Obama administration (And all the new democratic lawmakers) takes office.

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