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Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable

RedAkston

RedAkston

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Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable - First 100 Days of Presidency - Politics FOXNews.com

President Goodwrench? Really? Obama (aka 'the taxpayers') are going to fulfill the warranties for new GM and Chrysler cars if those companies can't. But if you bought a new GM or Chrysler car or truck last year, forget about it.

"If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired, just like always," Obama pledged Monday. "Your warranty will be safe. In fact, it will be safer than it's ever been. Because starting to day, the United States government will stand behind your warranty."
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The White House nor the Treasury Department responded to requests seeking comment.

But the National Automobile Dealers Association said it also isn't impressed by Obama's plan.

"We are encouraged by President Obama's commitment to putting the domestic auto industry back on the road to recovery but continue to urge the administration to focus immediately on correcting the dysfunctional credit markets," the organization said in a statement, adding that bankruptcy should not be an option.

"It would further erode consumer confidence and, therefore, our ability to sell at the retail level. Moreover, it would further exacerbate the availability of credit."
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Yet another less than brilliant move by our new President. Add this on to the already huge steaming pile of crap he's created and we may never recover. And people claimed that Bush was more dangerous than Obama? Where are those people now? Why aren't they stark raving mad at this lunatic and his hellbent agenda on destroying this great nation?
 
If the goal is to keep GM and Chrysler alive, there really isn't another option. Solving the credit markets is likely going to take at least another six months to likely a year if not more. Neither firm will survive that long. Therefore, a structured bankruptcy is really the only path they have. But to alleviate the problem of warranties from a chapter 11 firm, this plan does seem like the only path available.

If you don't like that plan, you're for chapter 7 of both firms.
 
It is NOT the place of government to save businesses from going under. Not when the government is writing checks WITH OTHER PEOPLES MONEY, ie YOURS, MINE! Now, the messiah wants to guarantee warranties with, guess what, OTHER PEOPLES MONEY !! When will it end?


Anyone?


:eek:
 
The NAM is an advocacy group.

In other words, they lie.

Nice try!


P/N said:
Obama Warranty Plan Leaves Many GM, Chrysler Owners Vulnerable - First 100 Days of Presidency - Politics FOXNews.com

President Goodwrench? Really? Obama (aka 'the taxpayers') are going to fulfill the warranties for new GM and Chrysler cars if those companies can't. But if you bought a new GM or Chrysler car or truck last year, forget about it.





Yet another less than brilliant move by our new President. Add this on to the already huge steaming pile of crap he's created and we may never recover. And people claimed that Bush was more dangerous than Obama? Where are those people now? Why aren't they stark raving mad at this lunatic and his hellbent agenda on destroying this great nation?
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And if they companies went bankrupt, you'd lose your warranty that way.
 
HelloDollyLlama said:
The NAM is an advocacy group.

In other words, they lie.

Nice try!
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Who is the NAM and what lie are "they" telling here? Did Obama not make this statement today? There is no "try" here, this is what he said. Do you care to discuss Obama's plan or are you just trolling, again?
 
It's really funny when you think about it. Obama is guaranteeing auto warranties with our own money.

What's even funnier, is GM telling folks they'll cover their car payments if they lose their jobs.

So they're borrowing my wallet, taking the money out, then giving me a portion of it back to make a payment to them.

I'll be back to discuss this further, I need to go make my neighbors mortgage payment real quick...
 
No one else is appalled by Obama's latest spending fiasco?
 
Who the **** does Obama think he is?
 
P/N said:
Well, from this point forward, I will refer to him as President Goodwrench.
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Shouldn't that be President Monkeywrench?
 
Pitwolfy said:
It is NOT the place of government to save businesses from going under. Not when the government is writing checks WITH OTHER PEOPLES MONEY, ie YOURS, MINE! Now, the messiah wants to guarantee warranties with, guess what, OTHER PEOPLES MONEY !! When will it end?


Anyone?


:eek:
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Well, next they're going to subsidize the products those companies sell, because people won't be buying them, and I mean more than just subsidizing the warranty. Expect "tax credits" for wasting your money on a GM, for example.
 
obvious Child said:
If the goal is to keep GM and Chrysler alive, there really isn't another option. Solving the credit markets is likely going to take at least another six months to likely a year if not more. Neither firm will survive that long. Therefore, a structured bankruptcy is really the only path they have. But to alleviate the problem of warranties from a chapter 11 firm, this plan does seem like the only path available.

If you don't like that plan, you're for chapter 7 of both firms.
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So what of the millions of existing warranty holders? If propping up the auto industry is so bloody important, why not stand behind those warranties as well?

As it stands, if those outstanding warranties are not to be honored, then every GM car owner who needs warranty-able work will be forced to pay out of pocket; that's a magnificent incentive for that car owner's next vehicle (which will obviously be purchased sooner than otherwise anticipated) to be anything but one coming out of Detroit.

This isn't a bailout, it's a torpedo.

Why is the current occupant of the Oval Office so hostile to American companies? Why is he so determined to destroy them?
 
Yesterday while discussing this, I was under the misguided impression that pre-existing warranties would be honored. That was the only reason I could even support the plan. Now that I know it doesn't, I am adamantly opposed to it. If people don't have confidence in GM, it's GM's own fault. Let 'em fail. If people buy a GM now, they are asking for issues in the future and deserve to have to deal with those issues.
 
GottaHurt said:
Careful, you might be branded a racist with a comment like that. ;)
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I sincerely apologize to any who take offense at my remarks. I have nothing but the highest regard for monkeys. I certainly did not intend to impugn the great character and traditions of monkeys, nor was it my intent to imply that monkeys are Democrats.

(Just don't ask me to say that to PETA....I'll never keep a straight face! :lol:)
 
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