FlintTalk.com Forum Index > Political Talk Topic: GM Banrkruptcy?

Author    Post   Adam F L I N T O I D http://finance.yahoo.com/news/GM-delays-payments-to-dealers-apf-13600298.html "The nation's largest automaker said Nov. 7 that it had $16.2 billion in cash at the end of September, raising the possibility that GM will fall below the minimum of $11 billion to $14 billion needed for day-to-day operations by the end of the year. If that happens, GM will be unable to pay some creditors, which could seize assets that were pledged as collateral or even try to force the company into bankruptcy, experts say." http://www.usnews.com/blogs/flowchart/2008/11/18/how-bankruptcy-would-benefit-gm.html?s_cid=rss:flowchart:how-bankruptcy-would-benefit-gm "With no intervention, GM is likely to run out of cash sometime early in 2009, which is why it can't raise financing in the ordinary debt markets—lenders are afraid they won't get their money back." Tue Nov 18, 2008 4:24 pm  twotap F L I N T O I D I sure dont see the problem with the Government "lending them the money" unlike what the media is characterizing it its a LOAN to be paid back with interest. If we quit sending billions of tax dollars to every third world ass backward country who asks for it and start spending it over here problem solved. _________________ "If you like your current healthcare you can keep it, Period"!! Barack Hussein Obama--- multiple times. Tue Nov 18, 2008 6:43 pm  andi03 F L I N T O I D ****If we quit sending billions of tax dollars to every third world ass backward country who asks for it and start spending it over here problem solved.**** In a way I agree with you. We have to start getting back to the basics...starting at home. Do you remember when you were a parent with young kids and you were really really sick? One year after my first was born, I had strep, sinus infection and slept like 5 hours per night for quite awhile. I called my mother in law for help and she said..."How do you expect to take care of a baby if you can't take care of yourself?" Then I went to the doctor, laid around and my laundry was done, by mom in law. Point being America is sick with unemployment, credit crunches, bailouts, etc. We cannot help others we have to help ourselves...BUT genocide that is going on in parts of the world need to be called to attention. You know I was watching the news tonight, can't remember what station and they said within the next couple of years China is going to be the biggest consumer of GM products. They are not going to build over there...GM will build over there. I say we bring everything back home and ship the cars over there to bring back our jobs....but I am just a low life person that has paid off her cars and cannot see in the next two years purchasing a new one...maybe I should move to China...oy. Tue Nov 18, 2008 6:57 pm  Adam F L I N T O I D quote: twotap schreef: I sure dont see the problem with the Government "lending them the money" unlike what the media is characterizing it its a LOAN to be paid back with interest. If we quit sending billions of tax dollars to every third world ass backward country who asks for it and start spending it over here problem solved. We gave away $23.53 billion in 2006 . Tue Nov 18, 2008 8:17 pm  back again F L I N T O I D I CERTAINLY AGREE WITH ANDI but DAMN!!!! with 2tap ALSO!!!! Tue Nov 18, 2008 9:08 pm  Adam F L I N T O I D "The U.S. economy is at a crossroads, due to the worldwide credit crisis, and I want you to know that management is doing everything possible to deal with its impact on our industry. Yet despite our successful efforts to restructure, reduce costs and enhance liquidity, we are facing an uphill battle with the current administration and Congress in securing a bridge loan. Simply put, we need you to join us in convincing Congress that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs. Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid. The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research: • One in 10 American jobs depends on U.S. automakers • Nearly 3 million jobs are at immediate risk • U.S. personal income could be reduced by $150 billion • The tax revenue lost over 3 years would be more than $156 billion Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking you to support this vital effort by contacting your representatives. Please take a few minutes to call your representatives by dialing 1-866-471-5332. Just state your name and address, and your message will reach your legislators. You can review a script that will help you state your support at gmfactsandfiction.com. Under the "Mobilize Now" section, click on "I'm an Employee." If you would rather e-mail your representatives, use the link "I'm a Concerned American." Please share this information with friends and family using the link on the site. I'm sure I can rely on your help. Sincerely, Troy Clarke" President GM North America Tue Nov 18, 2008 9:47 pm  Ryan Eashoo F L I N T O I D I heard on CNN last night that two in 10 American jobs depends on U.S. automakers. _________________ Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com Wed Nov 19, 2008 8:06 am  back again F L I N T O I D fire troy clarke!!!!!! Wed Nov 19, 2008 9:25 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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