See what CafeMoms are saying about saving time this holiday season..
never should have the first time
not this time
yes, but they need a specific approved plan
yes, we have to save our automakers !
Total Votes: 30
Total Votes: 30
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 !
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.