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Old 12-19-2008, 11:54 AM   #26
Tantalizer43

 
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He has my vote now!
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Old 12-19-2008, 11:56 AM   #27
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At least he did something remotely viable for a change.
About time he can call himself a president. Good for him for a change!
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Buddy (that owns a mustang GT) to a tech at auto club: I am getting killed by camaros at the strip...what do i have to do to beat one?
Tech back to my buddy: Buy a camaro...
Buddy: Turns around and walks away with head down...


Gotta love GM!
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Old 12-19-2008, 11:56 AM   #28
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Yes, but I like it Scotty!!
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Old 12-19-2008, 11:59 AM   #29
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Hopefully scott is happy with the news! Maybe all the letters finally paid off!
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Buddy (that owns a mustang GT) to a tech at auto club: I am getting killed by camaros at the strip...what do i have to do to beat one?
Tech back to my buddy: Buy a camaro...
Buddy: Turns around and walks away with head down...


Gotta love GM!
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Old 12-19-2008, 12:01 PM   #30
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YES!!!!!!!!!!!!!!!!!!!!!! About Time !!: clap:
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Old 12-19-2008, 12:06 PM   #31
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Let's start partying likes is 1999
GM better not go back to 1999, that's the time when they were creating the problems (shitty cars) they're suffering from today.
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Old 12-19-2008, 12:11 PM   #32
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Only for the next 3 months and then it's back to worrying again.
Except then they start selling the Camaro, so everything will be fine .

On a more serious note, that's plenty of time to dig themselves out of "deficit spending" especially since they can use the deadline to put some teath into their negotiations with creditors. Lets just hope the second half of TARP has strings attached that will require banks to actually start loaning to free up credit like it's suppose to so people will start being able to buy cars again by then.
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Old 12-19-2008, 12:18 PM   #33
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Yay gooooo Chrysler........and GM lol thats great

So ford did not get the money? why
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Old 12-19-2008, 12:30 PM   #34
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From the fact sheet:

"If the firms have not attained viability by March 31, 2009, the loan will be called and all funds returned to the Treasury."

How could they return the funds if you're using them to offset billions per month in losses. Won't the money be spent? I'd think that by March 31, 2009, it'll all be gone up in smoke.

Bob
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Old 12-19-2008, 12:32 PM   #35
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Yay gooooo Chrysler........and GM lol thats great

So ford did not get the money? why
Selling a lot of Mustangs.

Bob
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Old 12-19-2008, 12:37 PM   #36
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Basically, either Obama would have to change the deal if the did not accomplish what the Bush contract says OR the have to sell off assets like the nice GM towers to pay off the loan in 30 days.

OR in reality then they would have to do chapter 7 and liquidate to pay off the goverment.

This is huge pressure from the goverment to get bond holders, UAW and management to get the job done.
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Old 12-19-2008, 12:53 PM   #37
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ford doesn't need it now; they say they can do it without taxpayer money
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Old 12-19-2008, 12:55 PM   #38
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Why is it that Ford's statement was the longest, and they're not even wanting the money?
good business practice, a thorough strategy for the future
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Old 12-19-2008, 12:56 PM   #39
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Obviously your job wouldn't be affected by GM and Chrysler going bankrupt.
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Old 12-19-2008, 01:07 PM   #40
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Selling a lot of Mustangs.

Bob
obviously Ford hasnt heard about the new Camaro coming out.
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Old 12-19-2008, 01:18 PM   #41
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Thank you from north of the border Now the Canadian gov't can implement their plan & funds...BIG ANNOUNCEMENT COMING FROM CDN GOV'T SATURDAY!
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Old 12-19-2008, 01:18 PM   #42
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It's what I expected and what should have been done by the senate. I still expect them to burn through this money in about 3-6 months. God help em if GMAC folds. No way to floorplan for GM dealers or at least fewer options.
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Old 12-19-2008, 01:35 PM   #43
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Wink

WOW what a relief. I was a little concearned about our Camaro order. just the thought of driving a discustang which my son said would be his second choice. no offense to any ford fans
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Old 12-19-2008, 01:40 PM   #44
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Thank you from north of the border Now the Canadian gov't can implement their plan & funds...BIG ANNOUNCEMENT COMING FROM CDN GOV'T SATURDAY!
Any idea what the announcement is about ??
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Old 12-19-2008, 01:44 PM   #45
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Response from MO Senator Akin

I can't wait to vote this moron out of office....he voted FOR the Wall Street bailout and against Automotive.

What a jack-ass......

*************************************
Thank you for your correspondence regarding the proposed auto industry bailout. It was good to hear from you and I appreciate the opportunity to respond.

As you may know, the bailout package currently being discussed would provide up to $14 billion in loans to the auto industry.

There is no question that the American auto industry is in a serious predicament - one with far-reaching consequences. That said, I am concerned that adding to government debt will not help these businesses change course and address the issues that have brought them to this point. We simply cannot borrow our way into prosperity, obligating future generations to historic levels of national debt is a recipe for disaster.

It is not clear how the bailout would actually help the auto industry, auto workers and related businesses over the long term. I am very concerned with the tremendous cost of servicing our growing national debt and the real possibility of bankrupting our nation. Moreover, the appointment of a federal bureaucrat as an "auto czar" is a severe and dubious encroachment of government into industry. Auto workers and their families deserve better than a prolonged failure, accompanied by waves of layoffs and plant closings.

The auto industry is a vital part of our American economy. It supports many feeder industries and countless American workers contribute to building the vehicles we drive. The current crisis provides an excellent opportunity to re-think the way this industry does business and I am committed to supporting the kind of reform that will strengthen our domestic auto industry and encourage future innovation. I voted against the current package because I do not believe it did that effectively.

An alternative plan set forth by Republican leadership calls for restructuring from the management level down, incentivizes private investment and encourages innovation. You can view this plan here.

As Americans we have a history of overcoming hardship. Properly managed, I believe this failure will open the door to new successes, fresh ideas and worldwide leadership for the American auto industry. When the auto industry was in its infancy, partnership between eager American workers, innovative managers, and creative designers revolutionized transportation and inspired the world. We can and should be world leaders in evolving transportation once again - to be cleaner, more efficient and less expensive. I look forward to seeing what Americans can do when we address the current problems in the auto industry and innovate for a more competitive future.

Again, thank you for taking the time to contact my office. It is a privilege to represent you and I hope that you will not hesitate to contact me regarding any matter where I might be of assistance. If you would like more information on issues, or would like to share further thoughts with me via e-mail, you may visit my website.

Sincerely,

W. Todd Akin
Member of Congress
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Old 12-19-2008, 01:50 PM   #46
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Originally Posted by bobscogin View Post
From the fact sheet:

"If the firms have not attained viability by March 31, 2009, the loan will be called and all funds returned to the Treasury."

How could they return the funds if you're using them to offset billions per month in losses. Won't the money be spent? I'd think that by March 31, 2009, it'll all be gone up in smoke.

Bob
Good Point...I would think they would be forced into banckrupcy, liquidate, and repay GM does have assets, no liquid funds--I really don't even wat to consider this... :( Hopefully, this will get them through and back on their feet.
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Old 12-19-2008, 01:53 PM   #47
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OK GM.

Keep up the fight and all the hard work you've done so far. We're behind you, with great faith that you'll get it done.

Game on.
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Old 12-19-2008, 02:07 PM   #48
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took em long enough.
I know...It was like they wanted to further torture them...Dragging them to Washington and grilling them twice wasn't enough...

While writing a blank check to the financials with no strings, accountability, oh yeah and they still get giant boonuses this year
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Old 12-19-2008, 02:32 PM   #49
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this is a great christmas gift
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Old 12-19-2008, 02:39 PM   #50
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OK GM.

Keep up the fight and all the hard work you've done so far. We're behind you, with great faith that you'll get it done.

Game on.
+ infinity
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