http://www.guardian.co.uk/business/feedarticle/7847455

Let's just hope GM survives, if it continues that way, I am not that sure it will... it is still two years until the Volt will be released and I am not too sure if their current lineup is competitive...

Come on... Isn't GM too big to fail?? Won't our government just throw tons of money it doesn't have at them? As long as they don't cause the executive officers any discomfort or inconvienence, that's the main thing.:rolleyes: Yep. The Volt may never see the inside of a showroom, however I think they will pull through.

Now, now, where did that recently approved low interest (aka Bailout package) $25B loan for the American Automakers go? AFAIK, this can be a rope to climb back.

Now, now, where did that recently approved low interest (aka Bailout package) $25B loan for the American Automakers go? AFAIK, this can be a rope to climb back.Not a "bailout" by almost any rational defintition. Do your homework and get back to us... :D
WOT

Not a "bailout" by almost any rational defintition. Do your homework and get back to us... :D
WOT

Yeah it's a little unfair to call the government backing low interest loans for Detroit a "bailout" when you look at them nationalizing banks all over. But that loan is definitely not going to save them now! I was pretty sure GM was doomed for a while and that was BEFORE the economic crisis hit. You can bet there will be a real bailout of GM some time in the near future.

Not a "bailout" by almost any rational defintition. Do your homework and get back to us... :D
WOT

Of course I do my homework much better than you. Some of us simply differ on the context meaning of bailout, that is why it is in parenthesis, not necessarily my own view.

But you avoided the main question that I ask which is, whatever happened to that money? Will it help? Why all this gloom and doom news even after the low interest loans are approved?

Now that is the question that needed to be answered by a smart person who does their homework well.

Yeah it's a little unfair to call the government backing low interest loans for Detroit a "bailout" when you look at them nationalizing banks all over. But that loan is definitely not going to save them now! I was pretty sure GM was doomed for a while and that was BEFORE the economic crisis hit. You can bet there will be a real bailout of GM some time in the near future.

Of course the word bailout have different contextual and relative meaning. It has been floated around for a while by the people leery of the American Auto Industry, doesn't mean that it is what I would call it. But not to distract us from the real question which is:

Whatever happened to that low interest loan money? Did it help? Will it help? Why all this gloom and doom news even after the low interest loans are approved?

http://www.guardian.co.uk/business/feedarticle/7847455

Let's just hope GM survives, if it continues that way, I am not that sure it will... it is still two years until the Volt will be released and I am not too sure if their current lineup is competitive...

For such outstanding performance, the board should vote Rick Waggoner another $20 million in bonuses and even more than that for Lutz and the rest of GM's executive management. Only Enron, WorldCom, and Global Crossing have better management.

GM bought the RenCen for $625,000,000 just a few months ago.

Of course I do my homework much better than you. Some of us simply differ on the context meaning of bailout, that is why it is in parenthesis, not necessarily my own view.

But you avoided the main question that I ask which is, whatever happened to that money? Will it help? Why all this gloom and doom news even after the low interest loans are approved?

Now that is the question that needed to be answered by a smart person who does their homework well.
Of course the word bailout have different contextual and relative meaning. It has been floated around for a while by the people leery of the American Auto Industry, doesn't mean that it is what I would call it. But not to distract us from the real question which is:

Whatever happened to that low interest loan money? Did it help? Will it help? Why all this gloom and doom news even after the low interest loans are approved?

If you didn't personally consider the 25 billion in low interest loans a "bailout" (based on some/any real knowledge of the Advanced Technology Vehicles Manufacturing Incentive Program) then you wouldn't have used the term in your post at all (bracketed as "AKA" or otherwise)

Unlike the 700 Billion banking system BAILOUT, any money provided by the program to the automotive industry under the provisions of this program-must be repaid and the repayment schedule agreed upon prior to disbursement.

If you would have actually DONE your homework (instead of just implying you had-did your dog eat it?) you would have known that these low interest loans were agreed upon by congress with the strictest provisions that they be used exclusively for the "retooling" of existing manufacturing facilities and plants necessary to allow them to create and mass-produce "non-traditional" automotive components such as batteries, electric induction motors and other technologies necessary for plug-in hybrid and electrically propelled vehicles.

A portion of the funds are specifically targeting R&D efforts in these same technologies where program participation will be coordinated through specified grants a to specific universities and colleges in the USA with existing research programs working in cooperation with the automobile manufacturing industry.

Your would have also known that ZERO of these monies have been doled out so far, as Congress is waiting on the Department of Energy to finish establishing and eventually publishing the intricate details of the regulations that will stipulate precisely what retooling expenditures qualify and what formal OEM reconciliation is necessary to verify the funds are going where intended.This isn't expected until Q:1 2009
(oh but I guess you knew that already)

Furthermore, since you are obviously so well versed on the program, you already know that these monies are NOT destined for the Detroit Big-3 exclusively but are technically available to ANY automotive manufacturer or supplier with business operations in the USA. However the use of the funds for targeting "retooling" specifically designates such manufacturing facilities must have been in operation on US soil since 1988 or longer.

While the timing of final approval of these funds is unfortunate, those that understand them and what they represent do not consider them a "bailout" But you can call them whatever the hell you want
KMA
WOT

WOT, I'm impressed! Thanks for your elaboration. Truly!
Joe

GM bought the RenCen for $625,000,000 just a few months ago.

GM bought the RenCen -- a set of seven interconnected towers that includes a movie theater and several restaurants and a hotel -- in 1996 for $75 million, then borrowed $500 million against it for a major remodeling and had been leasing it until May. That's when GM paid $626 million to take full ownership of the building.

Now GM want to take out a mortgage on the RenCen and generate cash that could be spent on developing technology. Two city pension funds, one representing police and firefighters and the other for general city employees. In return, one or both of the pension funds might receive an equity stake in the RenCen and regular payments over time. The deal have not enter an agreement yet. Only time will tell.

All those people buying shares of GM in the front page thread are cracking me up. Hmm, maybe it's likely that the stock price can fall even FURTHER than it already has??