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Bailout GM again ???

Posted by on Feb. 26, 2009 at 9:41 AM
  • 30 Replies

 

Poll

Question: bail out General Motors ?

Options:

never should have the first time

not this time

yes, but they need a specific approved plan

yes, we have to save our automakers !


Only group members can vote in this poll.

Total Votes: 30

View Results

At first, months back, i had thought.. oh no, we can't let our auto makers go under.. but this is getting worse and worse...  Now i am getting to think.. hmmmm..  throwing good money after bad ??  !!    Maybe we have to face some companies are going under..  and let the market correct itself   ?

do you think we (its our money) should give them more money.. they say they need  30 billion..     

           that's  $30,000,000,000.00    !

 

General Motors posts $9.6 billion quarterly loss

Carmaker burned through $6.2 billion in cash as it sought government aid

AP

DETROIT - General Motors Corp. posted a $9.6 billion fourth-quarter loss and said it burned through $6.2 billion of cash in the last three months of 2008 as it fought the worst U.S. auto sales climate since 1982 and sought government loans to keep the century-old company running.

The nation’s biggest domestic automaker said Thursday it lost $30.9 billion for the full year and expects to state in its upcoming annual report whether its auditors believe the company remains a “going concern.” GM and its auditors must determine whether there is substantial doubt about the automaker’s ability to continue it operations.

Chief Financial Officer Ray Young said the determination will depend a lot on whether GM gets further government loans and whether it can accomplish its restructuring goals.

...   

The company has received $13.4 billion in federal loans since Dec. 31 and says it needs up to $30 billion to stay out of Chapter 11 bankruptcy protection. Top GM executives were in Washington, D.C., Thursday to meet with the Obama administration’s auto task force to talk about restructuring and additional loans.

http://www.msnbc.msn.com/id/29405227/

 

by on Feb. 26, 2009 at 9:41 AM
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Replies (1-10):
Cafe GroupAdmin
by Head Admin on Feb. 26, 2009 at 9:48 AM

I think it would be nice if the US could help everyone in need - but our gov't is running out of money and our economy os in big trouble.

How could they even consider giving them (or anyone) $30 billion?? 

cmarielin
by on Feb. 26, 2009 at 9:55 AM

Looks like it's time for me to write to my senators, congressmen, and pres....again.  They're going to know my name at the White House before this year's over.

blowing kisses

canthaveboys1
by on Feb. 26, 2009 at 9:59 AM

I dont think that we should have bailed them out the first time. All this money can be put to better use. Nobody is going to bail me out I always have to figure that out myself. 

Canthaveboys1
dr_m
by on Feb. 26, 2009 at 10:17 AM


Quoting canthaveboys1:

I dont think that we should have bailed them out the first time. All this money can be put to better use. Nobody is going to bail me out I always have to figure that out myself. 


No one is going to bail me out either !   If I don't have a dollar, I can't get a candy bar (gosh, chocolate has gotten so expensive !)  They would tell me to leave the store.....

 

LSmomof1
by on Feb. 26, 2009 at 10:21 AM

no dont bailout GM, or chrysler. they got themselves into this. if they didnt make such crappy parts they would sell more. i have a six year old dodge and the tranny just blew on it. im a bit bitter..but seriously...not more bail out please

mommy to charlie toddler boy


 

cmarielin
by on Feb. 26, 2009 at 10:23 AM

Use this link:

http://www.whitehouse.gov/contact/

It doesn't take long.  Send a message to our president, who works for us (We the People) and not the other way around.  Let him know how you feel about this before he does it again.

It's like I said before - failure is a great teacher.  These recipients of the first round of bailouts didn't learn a thing, except for how to ask for a bailout.  You see, here comes GM, back for more already.

Ladies, please check this out: 

http://www.cafemom.com/group/35896

Here, I found some wonderful videos of an awesome teacher explaining the constitution, breaking it down and discussing what it says.  I've learned so much, they've been very helpful.  I'm letting my kids watch them now, too, since they probably won't get taught these things that the Constitution actually says in school.  They're sure not to get taught how the government has pulled the wool over our eyes for generations....and okay, I'll stop rambling.  I'm just really concerned about the direction in which our country's headed.

But please check it out.  (I should have copied and pasted the letter I just sent to Pres. Obama.  Didn't think about it at the time,.)

dr_m
by on Feb. 26, 2009 at 10:36 AM

 

Quoting cmarielin:

...But please check it out.  (I should have copied and pasted the letter I just sent to Pres. Obama.  Didn't think about it at the time,.)


thanks for the links..  i was thinking my congressman and senators, but great idea..

please post your letter if you want...  i'll try to remember to post mine, too...

i think i'll say something like..     Dear..   I have seen and read the news about GM's losses and requests for further financial assistance from the US government.   Please do not use our money, to bail them out again.    I urge you to think carefully about any more bailouts.   ...

 

 

Junebug926
by Bronze Member on Feb. 26, 2009 at 10:49 AM

This whole situation is so scary. If HUGE companies like GM fail not only are thousands upon thousands of jobs are lost through GM but thousands of jobs from the companies that are GM suppliers and then from the companies who supply the suppliers their materials. Now if the suppliers close shop, companies like Toyota who also depend on the same suppliers will be in pinch as well. Also, from my understanding which I could be wrong about, a good portion of the military needs are met by GM. Anyway, the point is that if GM goes down LOTS of other businesses go down with them. Can our economy stand to take that? It sucks because I think that GM is a crappy company and makes crappy cars. GM has done this to themselves and I don't think they deserve a bailout but I'm afraid for the good of the economy it might be necessary.

canthaveboys1
by on Feb. 26, 2009 at 10:53 AM

I should have coppied and pasted what was I thinking. Thanks for the site I sure did submit a comment. This pisses me off that is a lot of money, I just need 100 grand! I have two jobs, and my part time job I swear I work and with all the taxes they take from me I work that pt job just to pay taxes. Those people should have learned the first time! And did anyone hear if we bailed out the pornography guy that was asking for money?

Canthaveboys1
momof1wildchild
by on Feb. 26, 2009 at 11:07 AM

My answer is hell no. I don't think we should've bailed them out the first time. I am absolutely sick to death of how these companies are throwing the money around. Parties. Bonuses to their upper management.

If the government wants to print more money for the sake of having something to do, how about sending it to the people who need it the most...the tax payers who are struggling to pay their bills, make their mortgage payments, pay their kids' tuition, etc?

These large companies got themselves into the situations they are now in. Let them figure out a way to make do with what they have.

This really pisses me off. 

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