Well, It looks like the government won't help GM - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

nickspohn · 11-13-2008, 02:04 PM

:(

It's on CNN now. Will get a link.

FenwickHockey65 · 11-13-2008, 02:09 PM

I don't see anything...

babyjulie83 · 11-13-2008, 02:12 PM

it's probably too early to make any determination about whether the government will help or not.....

*Mr. Wyndham* · 11-13-2008, 02:14 PM

Quote:

Originally Posted by babyjulie83

it's probably too early to make any determination about whether the government will help or not.....

nickspohn · 11-13-2008, 02:14 PM

It was just on, but now the missing caylee story took over. it's weird i dont see anything on cnn's site either

and it really isn't that early... if the government is going to act it's going to be soon rather than later

StoutFiles · 11-13-2008, 02:15 PM

You'd think this would be front page news.

dieseldave24v · 11-13-2008, 02:23 PM

I don’t know a whole lot about economics and all the things that pertain to it. What I ASSUME is that if GM were to go out of business it would cost the Feds more money than it would to bail out. Lets think about this for a minute. If GM goes under that is 200K plus people out of work, plus the suppliers, metal, paint, fabric, plastic, glass, and other industries would have to close there doors as well. This could put in upwards of a million people out of work. That being said the root of this whole problem is the housing market. If 1 million people are unemployed that is just more homes that would go into foreclosure. If that happens what's left of the economy would just collapse inside itself. I fear the Govt will have to bail the auto industry out. Hell they would have to pay more in unemployment wages than the bailout would cost

PS Nothing here is factual just how my 26 year old mind see's the world.

kanakattack · 11-13-2008, 02:27 PM

It's interesting to see which side of the aisle is working to provide relief to the auto companies and who is speaking out against it.

Hylton · 11-13-2008, 02:30 PM

Quote:

Originally Posted by dieseldave24v

I don’t know a whole lot about economics and all the things that pertain to it. What I ASSUME is that if GM were to go out of business it would cost the Feds more money than it would to bail out. Lets think about this for a minute. If GM goes under that is 200K plus people out of work, plus the suppliers, metal, paint, fabric, plastic, glass, and other industries would have to close there doors as well. This could put in upwards of a million people out of work. That being said the root of this whole problem is the housing market. If 1 million people are unemployed that is just more homes that would go into foreclosure. If that happens what's left of the economy would just collapse inside itself. I fear the Govt will have to bail the auto industry out. Hell they would have to pay more in unemployment wages than the bailout would cost

PS Nothing here is factual just how my 26 year old mind see's the world.

You hit the nail on the head! You're a smart man!

PsyDoc · 11-13-2008, 02:33 PM

But, bankruptcy does not necessarily mean that they will go out of business. Perhaps the Feds will do some loan guarantees on the back-end for GM after they have had the chance to reorganize their debt, restructure, and renegotiate contracts. Rather than supporting a company that has "lost its way" so to speak, the Feds would rather support a company with new direction and management...possibly?? You have to remember, that GM's and Ford's problems are here, not abroad. In other countries (i.e., Europe, Latin American, Asia) GM has strong sales. The problem they face is the labor costs here.

*Mr. Wyndham* · 11-13-2008, 02:34 PM

Good points, dieseldave...just one thing...they did an assessment...of what might happen should GM go under.....and the final number is...............

nearly 3,000,000 jobs in the crapper should something happen. I don't know what about 3,000,000 doesn't click for the goons in washington.

dieseldave24v · 11-13-2008, 02:35 PM

Quote:

Originally Posted by Dragoneye

Good points, dieseldave...just one thing...they did an assessment...of what might happen should GM go under.....and the final number is...............

nearly 3,000,000 jobs in the crapper should something happen. I don't know what about 3,000,000 doesn't click for the goons in washington.

Downright scary

nickspohn · 11-13-2008, 02:38 PM

They're saying the republicans aren't on board with the idea of bailing out the auto makers...

AZCamaroFan · 11-13-2008, 02:40 PM

Yeah and they keep saying if they do give money they want Waggoner to resign.

11-13-2008, 02:04 PM	#1
nickspohn Drives: 2002 Camaro Join Date: Oct 2008 Location: Chicago Posts: 119 View My Garage	Well, It looks like the government won't help GM :( It's on CNN now. Will get a link. __________________ Debating, either a Corvette or Camaro

11-13-2008, 02:09 PM	#2
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2020 Colorado Join Date: Aug 2008 Location: Florida Posts: 37,371 View My Garage	I don't see anything... __________________ 2023 GMC Canyon Elevation 2020 Chevrolet Colorado W/T Extended Cab (State-issued)

11-13-2008, 02:12 PM	#3
babyjulie83 driving! Thanks GM !!! Drives: 2SS Camaro in ABM!!! Join Date: Oct 2008 Location: Dallas, TX Posts: 354 View My Garage	it's probably too early to make any determination about whether the government will help or not..... __________________ I finally settled on a name for her....."Bonnie" Everything is better in a Camaro.......puts a smile on my face everyday.....

11-13-2008, 02:14 PM	#5
nickspohn Drives: 2002 Camaro Join Date: Oct 2008 Location: Chicago Posts: 119 View My Garage	It was just on, but now the missing caylee story took over. it's weird i dont see anything on cnn's site either and it really isn't that early... if the government is going to act it's going to be soon rather than later __________________ Debating, either a Corvette or Camaro

11-13-2008, 02:34 PM	#11
Mr. Wyndham I used to be Dragoneye... Drives: 2018 ZL1 1LE Join Date: Jan 2007 Location: Buffalo, NY Posts: 31,876 View My Garage	Good points, dieseldave...just one thing...they did an assessment...of what might happen should GM go under.....and the final number is............... nearly 3,000,000 jobs in the crapper should something happen. I don't know what about 3,000,000 doesn't click for the goons in washington. __________________ *"Keep the faith."* - Fbodfather

11-13-2008, 02:15 PM	#6
StoutFiles Drives: Black/Black 2SS/RS Join Date: Oct 2008 Location: Dayton, OH Posts: 733	You'd think this would be front page news.

11-13-2008, 02:23 PM	#7
dieseldave24v PowerStroke this Ford boy Drives: Like Don Garlits "Big Daddy" Join Date: Sep 2008 Location: Richlands/Camp Lejeune NC Posts: 462	I don’t know a whole lot about economics and all the things that pertain to it. What I ASSUME is that if GM were to go out of business it would cost the Feds more money than it would to bail out. Lets think about this for a minute. If GM goes under that is 200K plus people out of work, plus the suppliers, metal, paint, fabric, plastic, glass, and other industries would have to close there doors as well. This could put in upwards of a million people out of work. That being said the root of this whole problem is the housing market. If 1 million people are unemployed that is just more homes that would go into foreclosure. If that happens what's left of the economy would just collapse inside itself. I fear the Govt will have to bail the auto industry out. Hell they would have to pay more in unemployment wages than the bailout would cost PS Nothing here is factual just how my 26 year old mind see's the world.

11-13-2008, 02:27 PM	#8
kanakattack Drives: wife's xterra Join Date: Oct 2008 Location: Hawai'i Posts: 99	It's interesting to see which side of the aisle is working to provide relief to the auto companies and who is speaking out against it.

11-13-2008, 02:33 PM	#10
PsyDoc Drives: Soon-to-be 1st Gen Join Date: Nov 2008 Location: Southeast Posts: 249	But, bankruptcy does not necessarily mean that they will go out of business. Perhaps the Feds will do some loan guarantees on the back-end for GM after they have had the chance to reorganize their debt, restructure, and renegotiate contracts. Rather than supporting a company that has "lost its way" so to speak, the Feds would rather support a company with new direction and management...possibly?? You have to remember, that GM's and Ford's problems are here, not abroad. In other countries (i.e., Europe, Latin American, Asia) GM has strong sales. The problem they face is the labor costs here.

11-13-2008, 02:38 PM	#13
nickspohn Drives: 2002 Camaro Join Date: Oct 2008 Location: Chicago Posts: 119 View My Garage	They're saying the republicans aren't on board with the idea of bailing out the auto makers... __________________ Debating, either a Corvette or Camaro

11-13-2008, 02:40 PM	#14
AZCamaroFan Camaro6 2016-2018 Drives: sometimes Join Date: Mar 2008 Location: Phoenix Posts: 18,450	Yeah and they keep saying if they do give money they want Waggoner to resign.

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