Back out of the billions invested in GM and Chrysler. What a shock!!

http://finance.yahoo.com/news/Taxpay...4&asset=&ccode=

 

And they want to take over the entire health care system! All the government knows how to do well is to loose money!

 

We never should of helped them in the first place...

 

Well one thing is for sure, when Obama comes back looking for more money to pour into them, we should all demand it to not happen. The people running these companies I'm convinced (particularly GM) are idiots. Its business as usual over there and I'm not prepared to pay another dime for them. We'll see how Fiat handles Chrysler but I have more hope for them than GM. Management at GM hasn't undergone enough change and they're still betting the farm on VOLT.

On the count of 3:

1
2
3: NO MO MONEY!!!!!!!!!!!

 

They're putting their hopes on the Volt bec. they already have invested a ton of cash in it's technology, but otherwise they have nothing. Chrysler has more hopes with the Fiat merger and I wish them the best luck. GM will not last another year if they don't take matters seriously.

 

gov't doesnt understand that businesses fail, that's just the way it is. something like 70% of new small businesses fail within the first year. GM isnt being run correctly, and they're not going to get out of this with one new car, so pouring more money into it will be about as helpful as a parka in a desert

 

funny everyone on the GM side said they will pay it back and it's a loan not a handout

LOL to that

 

/shocked

 

Who didn't see that coming?

 

That could have very well gutted the entire domestic auto industry (not to mention the ripple effect it would have in other sectors) - GM and Chrysler dont exsist in a vaccum.

 

Here's a fun little blurb about the Volt from Audi president.

From Autoblog.com:

"Audi of America President Johan de Nysschen is a big fan of diesels (no surprise), and during a recent chat with veteran auto journo Lawrence Ulrich, de Nysschen imparted a few choice morsels on the pitfalls of electric cars, with an extra helping of wrath aimed at the Chevrolet Volt.

To start, he said the Volt is "a car for idiots." Adding that they're too expensive and, "No one is going to pay a $15,000 premium for a car that competes with a (Toyota) Corolla. So there are not enough idiots who will buy it." He predicted that the Volt will fall flat, which will cause the federal government to step in and subsidize the Volt in order to save face and boost sales."

The Government stepping in to save something that should fail......NOW WAY !!!

 

He could replace "volt" with any Audi model, and his statement would still be true. Except the part about there not being enough idiots to buy them. There never seems to be a shortage of idiots to pay a premium for an inferior product.

 

While it's disappointing, it's not a shock. The Giverment gives away money to plenty of other places/entities/beings and you never hear about it.

What's stupid, besides the Volt, is the fact that this is outrageous... but the CARS program wasn't. Why?

Was it because it was "only" $3 billion? Was it because it 'helped' the people? Or the dealerships?

We're not getting that money back either, people... And worse, the glut of buying it has now put a premium on any other new cars that are left that people were buying... and the factories are confused as to what to do... make more, or stay reduced output... The lots look like ghost towns. How are we to sell new cars now?

Worse, the dealerships are STILL not funded for a lot of those deals... it's like a little no interest loan to people for the deal while the dealerships wait to hear if they can have the money or not. And resend, and wait, and resend and wait as they get corrections.

We can't even touch the cars until they're funded, and then we gotta kill them. Fine. But in the mean time, they're takin' up space in the back... causing parking problems.

And lastly, the bubble was forcibly burst. So now, while not in a slump exactly, definitely, it was a wave what's ride is now over, and it's back to paddling again... or is that treading?

But you don't hear about that... you hear about GM and Chrysler and Health Care and Van Jones and Beck. Nice.

/I like that term. Giverment. I'm gonna use it.

 

Perhaps the US Gov't. should call GM on their "money back guarantee".

 

Touche'. Except for the Audi R8, which is a phenomenal car in looks and function. It has even made my love of Porsche 911's slightly falter....

BTW I think diesels the way to go for now. or perhaps diesel hybrids. or bio-diesel....

 

You know what ticks me off more than anything?


The fact that everybody is whining about 23 billion while the banking industry has gotten away with HUNDREDS OF BILLIONS OF DOLLARS that we will never see again. Meanwhile, the CEO's of those banks are remodeling there bathrooms using hundreds of thousands of taxpayer's money or jumping ship and getting a multi million dollar parachute. Maybe we all should have raised our voices then, but nobody did, nope we all let it slide and now this happened.

I tell you all what. If I ever saw Angelo Mozillo the Ex-CEO of Countrywide, I would run him over with my car, back up and repeat until there was NOTHING but a bloody pulp left. The man is the biggest rapist of our economy.

 

Its amazing how our collective short term memory falters when the media doesn't put it in your face every day. Then again, maybe is all part of "the plan" "they" have got for us?

Anyways, sometimes I wonder if a gaggle of folks somewhere with more money than sense think we can exsist entirely on a service based economy because they think manufacturing is really bad for the environment and it should be done elsewhere so all the trees and bees will be happy?

 

I am shocked..

But really did anyone really think hey lets patch a few holes on this sinking ship with hundred dollar bills. It might turn out ok?

 

Yes, in fact, some did, Flagstang. That's the point... it's the carrot in front of the mule trick.

 

guess a tax payer is born every minute.