its taxes..plain and simple..its money going to government and not to detroit...its that simple...another issue is the tax redo started at 250K its now down to near 80K...wala another reason to forget about buying a new vehicle....and there is no way the general will end up with chrysler..90% chance it goes to hyundai and becomes a state run company

 

credit is so bad right now. my neighbor has his house on the market. has accepted an offer 4 times from different buyers. everytime, the buyer was unable to secure a loan. GM is runnning ads now for "financing from over 100 banks" because GMAC isnt giving out loans unless as Guy pointed out, you have a spotless credit record.

credit makes our economy move. from big business to buying a car or a house. thats why the financial companies got their bailout money.

 

cerberus owns majority of GMAC..of course they wont loan to a competitior..you can get a loan if you have some skin in the game and a good credit rating..where are all these people?..sitting on cash and figuring out how to survive for the next 4 years thats where...

Ps: word been circulating that the general will recive no bail out as the economist guru's believe bankruptcy is the only solutuion...there are reasons for that..but my post always gets censored when certain things are mentioned so think for yourself why

 

Because that money is not tied to anything - it is artificial - they print it out of thin air. The poisonous Fed has pumped well over $1 trillion of this kind of money into the system in the past few months. What does this cause? Inflation - a gigaton worth of it. In fact, many well respected economists feel that we are in the verge of hyperinflation, and more bailouts would make this all but certain. The dollar will plummet in value, and that will remove the US from the global economy - a result much worse than GM eating a bullet (although this would be harder in the short run).

Wow, way to entirely miss the point. GM's cash problem has been rapidly accelerating to the point that IT MAY NOT BE IN EXISTENCE LONG ENOUGH TO MAKE THE CAMARO... or any car for that matter. You can call BS all you want, that doesn't change the facts surrounding their situation. Its the 11th hour for them.

 

I'd be more concerned about the dealers that folks made deposits on Camaros with surviving than GM surviving at this point.

 

Read through all his posts. No matter what happens the chances of Cheverolet disappearing are slim to none.

 

you would be wrong on that...general is burning through 75million a day...16.2billion left....they will be gone before christmas

 

Come January 20th, whatever happens to GM, everyone should get their money out of the banks and hide it, since the government is coming after it anyway!

 

GMAC isn't lending because they are broke, but what a concept, only lending money
to people that are reliable. HMMM, maybe we wouldn't be in this mess if Fannie Mae and
Freddie Mac and the like had used the same discretion. All this wealth was a balloon waiting to pop. Millions of people into loans they should have never gotten. The banks
didn't care if it was risky and the customer should have known better.

 

the name will not disappear..but how much value does the name chevrolet have any more..i would argue not much (it is what it is)....chi coms or koreans or tata from india will for sure be interested in buying the name....you be lucky to ever see the camaro with that sceniro and some time next month we are all going to find out if no bail out occurs.....if above does occur it really no biggie to the economy..236K jobs is all thats left at big 3 and the entire auto biz only accounts for .6% of gross domestic product...compared to leisure and health care auto manufacturing does not even rate

 

Did I see an article about that french outfit & GM

 

Wow -- so much misinformation in this thread that my head is spinning.

FIRST OF ALL - we have NOT asked for a BAILOUT -- we have requested low-interest loans. BIG DIFFERENCE..........

GM plans on paying every cent back -- with interest.



WHERE DO YOU COME UP WITH us losing over 12 billion a month?

 

2.36billion per month plus the additional 75million cash burn rate daily..its all over....those figures are right from the top dog CEO.....and i do like the fact the general is not looking for a bailout...but then why ask for an additional 25 billion on top of the 25 billion already given.....what are we missing?..i can read and add..and at that rate above with 16.2billion in cash reserve and a must have 11 to 14billion to sustain operation it looks like some time before christmas the general is gone....
..
ps..i frogged up on the 12 billion...call it too much beer (i dont drink)...shoulda been approximately 2.1billion per month...

 

Is the sky falling............... again?

Guess it's time to shut down all the sites and stop posting. Return to your normal, drab lives.

The proof is in the words. As you all know... outsiders are always better informed than..... what's the point. Pack it in and call it a day people. /sarcasm off

 

The original 25 billion was earmarked specifically for electric and hybrid vehicles development.

CNBC aired the results of a nationwide poll today regarding "should the govt make the loans available to GM or not". 76% of the responders outside of the Detroit area said "no...let them go bankrupt". I assume most of them buy foreign cars huh? And of course, in the Detroit area the response was nearly the same percentage, but in favor of making the funds available.

The petro companies are also reducing the capacities of their refineries due to the falling demand for gasoline (ergo: we refine less so the price for the consumer goes back up again). This cheap gas we have now won't last for long, and the demand for the Volt and other hybrids will go back up again. Don't worry folks....its all in the cards being played at very expensive tables. GM will survive and Nancy Pelosi will get California milage and emission standards across the board as a part of the deal.

Do you really think the government would give up all the tax money they make on this industry?