White House Approves $17.4 Billion Auto Loans to GM & Chrysler - Page 5 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

2MA · 12-19-2008, 04:00 PM

all i can say is that it took them long enough.

joes3rdcamaro82/91/2010 · 12-19-2008, 04:19 PM

Quote:

Originally Posted by garagelogic

Forget it Georgie, it's not about what's in the best interest of the country for most of the folks on this site, but whether or not their Camaro will be produced/delivered. It's that kind of short-sighted, me-first, attitude that has put us in the financial pickle we find ourselves in today.
I can only hope that GM puts the money to good use and is not back with their hand out again in 3 months.

Well spoken! Sad, but true! I have had numerous sales call asking me if GM goes bankrupt, would there be more rebates and savings. I can't believe how selfish some people in this great country are.

Brokinarrow · 12-19-2008, 04:19 PM

No kidding, those CEOs had to feel the noose beginning to tighten after congress walked away from them. I know I was worried.

Rodrunner · 12-19-2008, 04:30 PM

GM will not go under. The required concessions that are part of the Bush Administration loan will force the union to the table, as well as management to reform their practices and all should begin to get better, hopefully! Regardless, this car is their bread & butter for the future, and they have way too much development cost wrapped up in it to do anything but push forward.

TaylorRyanSS · 12-19-2008, 04:34 PM

FenwickHockey65 · 12-19-2008, 05:35 PM

Well thanks for the Christmas present, President Bush!!

I think I'm going out to eat lunch tomorrow just to celebrate.

CWI · 12-19-2008, 05:45 PM

UAW needs to back away from the feed trough and make a few concessions.

fastfret7 · 12-19-2008, 06:19 PM

Yes, my GM stock might go up now!!!!

*The_Blur* · 12-19-2008, 06:26 PM

Quote:

Originally Posted by CWIweldace

UAW needs to back away from the feed trough and make a few concessions.

I would expect the UAW to realize that it has been overcompensated in the coming months with so much pressure coming from all sides. The job of unions has always been to protect worker rights. Their rights are still protected if they get paid what the other companies pay.

Hylton · 12-19-2008, 06:31 PM

Quote:

Originally Posted by fastfret7

Yes, my GM stock might go up now!!!!

If it does, it will be a dead cat bounce. Part of the agreement states that 2/3rds of the debt be converted to common stock. Can you say dilution?

Alarick · 12-19-2008, 06:33 PM

It closed up at $4.49 a share, up from yesterdays close of $3.66, too bad I bought at $5.99, and flat out missed the $1.70 a share price back on November 20th...

Good news either way, won't have to stress as much about my Camaro not being made, can't afford for any more hair to fall out I'm runnin low lol

kinyu · 12-19-2008, 07:10 PM

I listen to financial people on news radio pretty frequently, and the general consensus with them seems to be that this money is just a bandaid, and that it doesn't fix the overall/biggest problem GM has, which is the high salary they pay the employees. A company that pays its employees an average of $73 an hour can't compete with companies like Nissan and Toyota who average around $42 an hour. While I know the "financial professionals" are not always correct, this does seem like a valid argument.

http://www.heritage.org/Research/economy/wm2162.cfm

One Mean Chevy · 12-19-2008, 08:58 PM

I'm holding any celebrate until the "Federal Car Czar" starts giving orders.

"Federal Car Czar" can't be a good thing.

*Mr. Wyndham* · 12-19-2008, 09:36 PM

I think the unions and management should be the least of our concerns, right now...

Worry about government scrutiny. GM and Chrysler have no more than 3 months to enact all their final turnaround plans. And the government, the same people who decided to fork over 700 billion to a black hole of corruption, will be the ones that will decide whether or not the Big Three are "viable".

Essentially, as of this announcement; GM's life is in the government's hands.:(

12-19-2008, 04:19 PM	#59
Brokinarrow Drives: 2012 Honda NC700x Join Date: Sep 2008 Location: Indianola, IA Posts: 5,317 View My Garage	No kidding, those CEOs had to feel the noose beginning to tighten after congress walked away from them. I know I was worried. __________________

12-19-2008, 04:30 PM	#60
Rodrunner Senior Member Drives: 2010 SS/RS, '06 350Z Join Date: Oct 2008 Location: So. Maryland Posts: 2,333	GM will not go under. The required concessions that are part of the Bush Administration loan will force the union to the table, as well as management to reform their practices and all should begin to get better, hopefully! Regardless, this car is their bread & butter for the future, and they have way too much development cost wrapped up in it to do anything but push forward. __________________ 2SS/RS - Black/Black - CGM Rally Stripes - Auto - VIN 10171

12-19-2008, 04:34 PM	#61
TaylorRyanSS COTW: 12/13/10 Drives: 1969 Camaro Join Date: Feb 2008 Location: Orange County, CA Posts: 7,880	__________________ "Are you one of those boys who prefer cars to women? - I'm one of those boys that appreciates a fine body, regardless of the make." 1969 CAMARO JOURNAL: http://www.camaro5.com/forums/showthread.php?t=341239 \| FACEBOOK: http://www.facebook.com/taylor.ryan.apt \| GRAPHIC DESIGN: www.aptdesigns.net

12-19-2008, 05:35 PM	#62
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2020 Colorado Join Date: Aug 2008 Location: Florida Posts: 37,371 View My Garage	Well thanks for the Christmas present, President Bush!! I think I'm going out to eat lunch tomorrow just to celebrate. __________________ 2023 GMC Canyon Elevation 2020 Chevrolet Colorado W/T Extended Cab (State-issued)

12-19-2008, 05:45 PM	#63
CWI Helping Build America Drives: 2010 2SS/RS,LS3 2013 Duramax 3500HD Join Date: Aug 2008 Location: Freeport LPG Export Posts: 3,839 View My Garage	UAW needs to back away from the feed trough and make a few concessions. __________________ Life's journey is not to arrive at the grave safely in a well preserved body, but rather to skid in sideways, totally worn out, shouting "Holy shit, what a ride!"

12-19-2008, 04:00 PM	#57
2MA Drives: 1985 Chevy Camaro Join Date: Sep 2008 Location: Scottsdale, AZ Posts: 70	all i can say is that it took them long enough.

12-19-2008, 06:19 PM	#64
fastfret7 Drives: 2003 Ford Focus SVT EAP Join Date: Sep 2008 Location: Ashburn,VA Posts: 299	Yes, my GM stock might go up now!!!! __________________ Heroes will be remembered, but legends will never die!! -The Sandlot...I know In my garage: 2003 Ford Focus SVT EAP in Infa-red 1 of 101 1970 EL Camino 454 SS w/ 4 speed muncie Red w/ Blk stripes 2010 2SS/RS Camaro w/hurst 6 spd in black on black w/red rally stripes

12-19-2008, 06:33 PM	#67
Alarick Drives: 2010 IOM 2SS Join Date: Apr 2008 Location: Coral Springs Florida Posts: 357 View My Garage	It closed up at $4.49 a share, up from yesterdays close of $3.66, too bad I bought at $5.99, and flat out missed the $1.70 a share price back on November 20th... Good news either way, won't have to stress as much about my Camaro not being made, can't afford for any more hair to fall out I'm runnin low lol

12-19-2008, 07:10 PM	#68
kinyu Drives: POS Join Date: Mar 2008 Location: Miami Posts: 107	I listen to financial people on news radio pretty frequently, and the general consensus with them seems to be that this money is just a bandaid, and that it doesn't fix the overall/biggest problem GM has, which is the high salary they pay the employees. A company that pays its employees an average of $73 an hour can't compete with companies like Nissan and Toyota who average around $42 an hour. While I know the "financial professionals" are not always correct, this does seem like a valid argument. http://www.heritage.org/Research/economy/wm2162.cfm

12-19-2008, 08:58 PM	#69
One Mean Chevy Future Vette Owner (201?) Drives: A Mobile Road Block Join Date: Sep 2008 Location: GM Country Posts: 388	I'm holding any celebrate until the "Federal Car Czar" starts giving orders. "Federal Car Czar" can't be a good thing. __________________ Horsepower Means Nothing without the Torque and Transmission to back it up. GM, WILL SURVIVE AND WILL BE BETTER THAN EVER. 2011 Camaro SS (6-Speed) w/RS Package. Its Great to be back in Black and a Chevy Again. ----------------------------

12-19-2008, 09:36 PM	#70
Mr. Wyndham I used to be Dragoneye... Drives: 2018 ZL1 1LE Join Date: Jan 2007 Location: Buffalo, NY Posts: 31,876 View My Garage	I think the unions and management should be the least of our concerns, right now... Worry about government scrutiny. GM and Chrysler have no more than 3 months to enact all their final turnaround plans. And the government, the same people who decided to fork over 700 billion to a black hole of corruption, will be the ones that will decide whether or not the Big Three are "viable". Essentially, as of this announcement; GM's life is in the government's hands.:( __________________ *"Keep the faith."* - Fbodfather

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