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Thread: GM needs up to $30 billion in aid to avoid failure

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    GM needs up to $30 billion in aid to avoid failure

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    GM needs up to $30 billion in aid to avoid failure - Yahoo! Finance

    Far better that they are denied this extra money, they have evidently decided that any time they feel threatened they can call on US Taxpayers to bail them out.
    This cannot be permitted.

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    Re: GM needs up to $30 billion in aid to avoid failure

    I'm more irritated by the $5B request by Chrysler than by the $30B request by GM,

    If Cerberus doesn't think you're worth investing in, why the **** should we?
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    Re: GM needs up to $30 billion in aid to avoid failure

    Yay, 1.5 million jobs are connected to GM I heard on TV. I don't have a link. But that can't be good.
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    Re: GM needs up to $30 billion in aid to avoid failure

    Quote Originally Posted by independent_thinker2002 View Post
    Yay, 1.5 million jobs are connected to GM I heard on TV. I don't have a link. But that can't be good.
    "connected to" is a horribly vague concept. Kevin Bacon's job is as safe as it ever was, and I guarantee he's closer to GM than a large chunk of that million and a half

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    Re: GM needs up to $30 billion in aid to avoid failure

    Quote Originally Posted by Kernel Sanders View Post
    "connected to" is a horribly vague concept. Kevin Bacon's job is as safe as it ever was, and I guarantee he's closer to GM than a large chunk of that million and a half
    I'm sorry. Only three people will be effected.
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    Re: GM needs up to $30 billion in aid to avoid failure

    Quote Originally Posted by independent_thinker2002 View Post
    Yay, 1.5 million jobs are connected to GM I heard on TV. I don't have a link. But that can't be good.

    What's more economical- To pay them unemployment or give their company billions of dollars every couple months so they don't fail?
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    Re: GM needs up to $30 billion in aid to avoid failure

    Quote Originally Posted by americanwoman View Post
    What's more economical- To pay them unemployment or give their company billions of dollars every couple months so they don't fail?
    Other companies are tied to GM. Tire manufacturers, radio manufacturers, rims, glass, plastic, aftermarket part manufacturers, and dealers. It's not just GM that would be affected.
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    Re: GM needs up to $30 billion in aid to avoid failure

    True, but why are we keeping these guys afloat? There's a lot tied to them, but they obviously weren't competing well enough before the economic downturn hit. I don't know, at some level I think we have to let companies die; I don't see why I have to continually pay for bad companies.
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    Re: GM needs up to $30 billion in aid to avoid failure

    Quote Originally Posted by americanwoman View Post
    What's more economical- To pay them unemployment or give their company billions of dollars every couple months so they don't fail?
    Depends. In the long run, they could turn out to be a profitable company that repays all their loans. Or, they could go into Chapter 11.
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    Re: GM needs up to $30 billion in aid to avoid failure

    Quote Originally Posted by Ikari View Post
    True, but why are we keeping these guys afloat? There's a lot tied to them, but they obviously weren't competing well enough before the economic downturn hit. I don't know, at some level I think we have to let companies die; I don't see why I have to continually pay for bad companies.
    I see your point. What would be the repurcussions of letting every company fail right now, banks included? The failures are ubiquitous throughout the economy. We are a paper dragon. An immediate collapse would be catastrophic.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



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