Color me surprised; could GM actually be saved?
http://www.msnbc.msn.com/id/33604862/ns/business-autos/
http://www.msnbc.msn.com/id/33604862/ns/business-autos/
GM posts 1st sales gain in 2 years
- Thread starter Onceler
- Start date
Billy the Great Khan
Uwaa OmO
Doubtfully. GM still hasn't learned the lessons Ford did 6 years ago.
Billy the Great Khan
Uwaa OmO
They'll do better when they drop the GM line and just use Chevy, the only cars that are worth a damn in their line.
Buffalo Soldier
Dreadlock Rasta
Lofl gm is not racing to do a plug in because nobody wants them outside of berkly hippies who wouldn't know an engineering course if it fell on their heads.
ib1yysguy
Junior Member
Buffalo Soldier
Dreadlock Rasta
How many plug INS Dont see any on thier site. Lol
Way to go....
Treasury, GMAC in talks for 3rd round of US aid
(AP) – 6 days ago
NEW YORK — GMAC, the former lending arm of General Motors Co., is in talks with the Treasury Department for a third injection of taxpayer aid, a further sign of the U.S. government's entrenchment in the U.S. auto industry.
Treasury's move would make GMAC the only U.S. company to receive three rounds of bailout aid. Last December, the government gave GMAC $5 billion in exchange for 5 million shares and GMAC's agreement to extend financing services to bailed-out Chrysler LLC. Then in May, the Treasury Department announced a new $7.5 billion injection for GMAC — short of the $11.5 billion the government's stress test showed the company would need to stay afloat if the economy worsens.
To help GMAC raise the remaining capital, the Federal Deposit Insurance Corp. took the rare step earlier this year of allowing the junk-rated company to gain access to the FDIC's debt guarantee program. The FDIC agreed to guarantee up to $7.4 billion in GMAC-issued debt in case the company defaulted on payment, and has already backed about $4.5 billion worth.
According to the paper, the FDIC told GMAC Tuesday that it would guarantee the remaining $2.9 billion in debt to prevent the company from being forced to reduce its lending volume.
http://www.google.com/hostednews/ap/article/ALeqM5iJUXiXODhZKdSH7RbAs7bCPogCSAD9BK4EQ00
Treasury, GMAC in talks for 3rd round of US aid
(AP) – 6 days ago
NEW YORK — GMAC, the former lending arm of General Motors Co., is in talks with the Treasury Department for a third injection of taxpayer aid, a further sign of the U.S. government's entrenchment in the U.S. auto industry.
Treasury's move would make GMAC the only U.S. company to receive three rounds of bailout aid. Last December, the government gave GMAC $5 billion in exchange for 5 million shares and GMAC's agreement to extend financing services to bailed-out Chrysler LLC. Then in May, the Treasury Department announced a new $7.5 billion injection for GMAC — short of the $11.5 billion the government's stress test showed the company would need to stay afloat if the economy worsens.
To help GMAC raise the remaining capital, the Federal Deposit Insurance Corp. took the rare step earlier this year of allowing the junk-rated company to gain access to the FDIC's debt guarantee program. The FDIC agreed to guarantee up to $7.4 billion in GMAC-issued debt in case the company defaulted on payment, and has already backed about $4.5 billion worth.
According to the paper, the FDIC told GMAC Tuesday that it would guarantee the remaining $2.9 billion in debt to prevent the company from being forced to reduce its lending volume.
http://www.google.com/hostednews/ap/article/ALeqM5iJUXiXODhZKdSH7RbAs7bCPogCSAD9BK4EQ00
Buffalo Soldier
Dreadlock Rasta
But they have so many plug in cars coming. Say where do you plug in while on the hwy vacation?
LOL>
Yeah, the company who takes pride in their current Hybrid getting 32 MPG is going to be real successful at that.
Prius simply needs to sell some with the currently available second-source package to make it a plug in to beat whatever they'll come up with by a large margin.
ib1yysguy
Junior Member
They'll need to do better, like full electric. Chrysler is going in the right direction. They may even have an electric Wrangler next year, which I'll be very interested in. It's one of four designs they're considering to bring to the market. Another is a Liberty, and there's a sports car which is full-electric. They're also playing around with putting the motors inside each wheel, which will actually give the wrangler superior 4WD to the current gas model. It'll have higher torque, better control, and weigh less because they can get rid of the huge drivetrain.
Exciting times are ahead.
Topspin
Verified User
None of the technology is new, people don't want them. See ev1
Environmentalist and limosine liberals want them. Most people vacation several hundred miles from thier houses. They do not want to stop (in a decade or two when it's available) for hours to charge a trunk full of batteries.
The Prius was marketed as NOT HAVING TO PLUG IN. lofl
Environmentalist and limosine liberals want them. Most people vacation several hundred miles from thier houses. They do not want to stop (in a decade or two when it's available) for hours to charge a trunk full of batteries.
The Prius was marketed as NOT HAVING TO PLUG IN. lofl
DamnYankee
Loyal to the end
It only cost the taxpayers $24,000 per car sold.
That being said, the new Camaro looks like a fine car: 300+HP in the base V6, IRS, trumping the Ford Mustang hugely. And that's coming from a life-long Ford owner and Mustang fan.
If GM actually pulls through, and the American auto industry comes back, the cost to the taxpayer is pretty much nothing compared to what the alternative would have been....
DamnYankee
Loyal to the end
The normal course of bankruptcy would have allowed GM to lose its crippling UAW contract provisions, making it a leaner, more competitive company. That wouldn't have cost the government anything and would ensure GM's success for years to come. Instead we have huge debt, a company pulled away from a cliff but still headed there.
It's extremely unlikely that GM would have made it without the bailout, and the blow to our economy from its failure would have hurt taxpayers much worse, imo.
That's silly. You make a claim that can't be verified. And you're seeming proud that it took a government handout to save GM to begin with, followed by a ridiculously wasteful clunker program to spur some artificial demand, and likely another bailout soon to come.
citation needed!
Can you at least provide a graphic with some projections of the financial doom that were used to cement your position? Some data?
WTF do you get this idea from?
Calm down. You're always so on edge.
I said it was my opinion, and it's based on what I know about GM, the auto industry in general, and how many businesses and American workers depend on this industry for their livelihood. There are few states that wouldn't be affected by the failure of the American car industry, and the ripple effect of a company like GM failing would be enormous, any way you slice it.
If you need a graph to show you that, I can't really help you...