Are YOU CRAZY Enough To Let Them? GM Now Wants $5 Billion Of Your Money To Buy Chrysler!

Really? I don't know what's best, but it seems like they aren't so much a victim of the credit crunch, as they are suggesting, but more of a poor business model and some shaky products for entirely too long.

— finishline (View Profile)

Posted on 10/28/2008 9:47:37 AM | reply to this comment | Votes: 1   

Will they promise not to make another request for another century?

— WorldofLuxury (View Profile)

Posted on 10/28/2008 9:47:37 AM | reply to this comment | Votes: 3   

This is getting crazy.. First $25 billion to bail out the industry, and as soon as that was granted they say they need $25 billion MORE.

Now GM wants $5 billion to but out a competitor so they can strip it out.

This is like giving your strung out cousin a loan for $25B for groceries and promise $25B more to help him keep the house. Then 3 days later you run into him at the dog racetrack betting your money and lend him $5B more to start an Amway business!

I bet all of the Detroit Three CEO's make their bonuses this year. If you can't make money or show progress towards making money then there should be no bonuses.

— Agent009 (View Profile)

Posted on 10/28/2008 9:56:29 AM | reply to this comment | Votes: 2   

If the government doesn't give it to GM, they'll just spend it on something as equally stupid so it really doesn't matter.

— sold2early (View Profile)

Posted on 10/28/2008 10:07:08 AM | reply to this comment | Votes: 3   

I'm not defending GM, they have made huge mistakes, and should sleep in the bed they made, but the truth of the matter is that the US government will not allow GM to fail. There are just too many jobs on the line. So what it comes down to is what is the cheapest way that the government can help. Giving GM enough money to acquire Chrysler means that GM will then have access to Chrysler's supposed $15 billion in cash. The new car sales market isn't expected to turn around until 2010. GM's burn rate is something like 1billion per month, so the need the cash to stay afloat in the meantime.

— holmstar (View Profile)

Posted on 10/28/2008 10:33:10 AM | reply to this comment | Votes: 3   

this is freakin retarded. just let all the failure companies burn down and be nothing but history.

— KZ258 (View Profile)

Posted on 10/28/2008 11:14:30 AM | reply to this comment | Votes: 0   

Sure, go ahead take it.

Wait! Just let me make $5B first and then you can take it.

Can I write a post-dated check for that amount? Or will you take a Money Order?

I actually want the govt to loan GM to money to purchase Chrysler just as they loaned those banks & finance companies billions to buy their failing competition. Believe it or not, these merger talks are dragging the US auto market down and most related businesses need some closure so they can begin to make plans for the next corporate move.

— dumpsty (View Profile)

Posted on 10/28/2008 12:58:24 PM | reply to this comment | Votes: 1   

$5b what for? both companys are worth shit!!

— carguy68 (View Profile)

Posted on 10/28/2008 1:32:21 PM | reply to this comment | Votes: -1   

Other Countries help their auto industry and this is nothing new. Japan relieves the burden of billions of $$$ and pays both retirement and medical expenses for their domestic auto industry. Germany gives huge tax breaks worth 100's of million $$$ each year to its domestic auto industry.

Daimler is responsible for Chryslers current state since it never addressed the MPG trend in Chrylers line up and made Chrysler less desireable during these times.

— Porschinator (View Profile)

Posted on 10/28/2008 6:45:17 PM | reply to this comment | Votes: 3   

Would make a great election campaign question.

I'm pretty sure McCain would tell GM to screw themselves if they wanted anything other than a loan.

It'd be interesting to see if Obama would give them this money to support all the union workers and Joe lunchbuckets that he supposedly has so much in common with.

— huu76 (View Profile)

Posted on 10/28/2008 10:47:39 PM | reply to this comment | Votes: 1   

Mr. Rick Wagoner
Chairman & Chief Executive Officer
General Motors Corporation
Detroit, Michigan

Dear Mr. Wagoner,

As a fellow native of Richmond, Virginia, and as an American taxpayer? I think I have the right to ask you one question: ARE YOU NUTS?????

Chrylser's model lineup, sales, profits and balance sheet are in worse shape than GM's, AND THAT'S PUTTING IT MILDLY!!!! What does Chrylser have that is worth $5 billion to ANYONE???

— Audiphile (View Profile)

Posted on 10/28/2008 11:31:37 PM | reply to this comment | Votes: 0   

Bottom line, the government is giving money away to a bunch of white collar failures. At this rate the american government might as well.....uhhh actually forget it....just realize this is the blind helping the blind...LOOOOSERSSS to the domestic automotive corps....LMAO!!!

— BigShow50 (View Profile)

Posted on 10/29/2008 12:36:16 AM | reply to this comment | Votes: 0   

I'm confused. How can a company with 10 to 12 BILLION dollars in CASH be so desperate? Cerberus just needs to give Chrysler more TIME. The all-new RAMS just came out. The all-new 300's and Chargers will be ready in just over a year and a half. And so will the all new line of 'Phoenix' V6 engines. I don't want Chrysler to DIE. And it most likely will if GM gets its hands on it. 'MERGER'. Ya right. Where did I hear that before. I hope the GM/Chrysler deal is blocked somehow and Cerberus accepts Renault-Nissan's offer to buy 20% of Chrysler. The next Sebring being a redesigned Altima sounds great to me. Craig!! :o)

— CanadaCraig (View Profile)

Posted on 10/29/2008 7:32:06 AM | reply to this comment | Votes: 1   

I really don't know what happens with this country, american cars don't start to increase theirs quality at all, all that they do is copy but is not enough. All of this companies are into serious economic problems, Chrysler in particular is a really nightmare, also Mercedes said in public that they know that this fusion was a mistake so they decide to break out. Now they request money to the goverment to scape from this giant crisis that is not correct at the end we have to pay for all of this.
Other things that I can't understand is why goverment now give money to the Banks to help for sure every body, but Banks doen't help people , they still increase interest rate, make more diffucult to obtain loan, and this country work with the credit system and now this system is complete down. The positions of the Banks now is get the money fron the goverment keep it but they don't help people at all.
What we can do where we need to call how what everybody do to help our country.
To give back the prosperity and security.
We need to take action to help our country.

— pepito66 (View Profile)

Posted on 10/29/2008 10:17:04 AM | reply to this comment | Votes: 1