GM May Not Need More Federal Loans...

[FenwickHockey65]

http://www.leftlanenews.com/report-c...uses-174b.html

In an interview with Automotive News, UAW president Ron Gettelfinger revealed that GM and Chrysler may not need funding beyond the $17.4 billion already earmarked for the automakers. “If we can get by without more money, that’s what we want to do,” Gettelfinger told Automotive News.

Although GM was originally seeking $18 billion in order to survive until 2010, that plan included the automaker’s 49 percent stake in GMAC. However, since the White House approved the $17.4 bailout package — $13.4 billion of which is earmarked for GM – GMAC has achieved bank holding status, greatly reducing GM’s stake in the financing company. Additionally, GMAC has secured $6 billion in low interest loans itself, bringing GM’s total funding beyond the $18 billion it was originally seeking.

[GTAHVIT]

Ok, here we go.

Lets turn this thing around GM.

[DntWrryBeHappy21]

nicee =) some good news!

[The_Blur]

This is Wagoner's chance to shine. If he keeps quiet about this for a while and announces GM's change of fortune late next year, then maybe all of the idiots calling for his resignation will be made fools for their criticism.

[Kyle2k]

yay

[stovt001]

There's a lot of ifs there, but it is comforting to see this is a possibility. If $17B is all it takes to rescue such a large and important industry, we're not doing too bad.

[FenwickHockey65]

This nightmare may almost be over...2010 models start production soon, sales start shortly thereafter...bring on the Camaro, LaCrosse, Equinox, Terrain, SRX...

Personally, I think we're back on the road to profitability.

[Badger]

If GM is getting "Low Interest" Loans I will expect No less for myself...0% will do just fine

[Speedfreak]

If they/we can get through this current economic situation expecially considering what we now have in the white house and congress, I think they may have a good shot at great success.

[Mr. Wyndham]

A little bit of sunshine is always welcome.

And if turns out they DON'T need anymore money....heck, they can tell Congress in March "We're paying you back and don't need no more: So go screw yourself" Ahhh....priceless.

[FenwickHockey65]

Originally Posted by Dragoneye

A little bit of sunshine is always welcome.

And if turns out they DON'T need anymore money....heck, they can tell Congress in March "We're paying you back and don't need no more: So go screw yourself" Ahhh....priceless.

I'm going to make a LOT of people eat their own words when that happens.

Oh yes, I do plan to fully gloat in my victory over the GM haters at school when this happens.

[Scott@Bjorn3D]

Originally Posted by Badger

If GM is getting "Low Interest" Loans I will expect No less for myself...0% will do just fine

But if we get 0% Financing how is GM or GMAC going to make money to pay back the government loan they got? We should get at good rate of about 4.5 to 5%.

[StoutFiles]

And if turns out they DON'T need anymore money....heck, they can tell Congress in March "We're paying you back and don't need no more: So go screw yourself" Ahhh....priceless.

This recession has only just begun; another stock market slump is on its way and the job market will be even worse. It's fun to think GM will be fine in a matter of months but they will literally be crawling to 2010.

[djsnoflake]

I don't know, things economy wise are pretty good in Canada. YAY CANADA. The trade off is a decent economy for 5 feet of snow and -40