By on January 2, 2009

“GM has received the first tranche of $4B from the Federal Government and we look forward to working with the government on all elements of the loan agreement and our viability plan. We appreciate the Administration extending a financial bridge to GM at this critical time for the U.S. auto industry.

“GM remains committed to providing great cars, trucks and crossovers, as well as leading technologies, to our customers. We are committed to successfully executing the plan we submitted on December 2 and remain confident in the future of General Motors.”

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11 Comments on “Bailout Watch 318: “GM Statement on Receiving the First Tranche of the Federal Bridge Loan”...”


  • avatar
    LALoser

    I truly hope GM and Ford turn it around. Chrysler may be too small and weak….although Jeep would survive somewhere. All of the anti-“bailout” and anti-American product rant has actually turned me more pro American…me thinks thou protests too much…. But the anti-“bailout” and anti-American side seems to have no problem with a Communist Chinese buy-out of an American company…hmmm. The Chinese government owns 50% of everythng and uses that money to fund the world’s fastest growing military. Could it be, we in America are funding the ordinance that will be used against us in future?

  • avatar

    Weren’t they supposed to come up with a NEW plan? Just sayin’,

  • avatar
    LALoser

    You are correct RF, a management change is needed at all 3. They must be mindful of the course they take… Well-built cars that offer value is the most important, from hot niche to family haulers. All 3 must avoid the static of “car of the day”; hybrids are good…to a point, as are fully-electric…BUT, in the same dimension, everyone knows petrol pricing is a land mine. They do not have easy choices on a uncharted course. Encouragement from the American public would help…not unlike the Koreans, Japanese, and Chinese give their industries.

  • avatar
    mikey

    A new plan? Big business, small business, governments, homeowners
    everybody HAD a plan.

    Was there something about best laid plans of men and rodents?

  • avatar
    LALoser

    Mikey has the zinger of the day….true dat.

  • avatar
    Srynerson

    Weren’t they supposed to come up with a NEW plan?

    I’m picturing Rick Wagoner in clown make-up and a nurse’s uniform saying, “Do I really look like a guy with a plan?”

  • avatar
    eh_political

    On a side note, the Chrysler blog is up to 119; they still haven’t removed the preponderance of negative comments. Some people are going to come back from vacation and find themselves fired.

    Any bets? Will they spike the comments, or the entire page. If I were the employee responsible for monitoring, I would make sure the media was aware of this, in an effort to protect my job.

    http://blog.chryslerllc.com/blog.do?id=564&p=entry

  • avatar

    Mikey, the answer to your question is that the best laid plan was from Ford.

    GM and Chrysler had a plan (vague, no goals, no commitments, all of which is here in the DW series) that addressed none of their problems, and they deserve our money for it?

    They don’t need a new plan, they need a plan with ACCOUNTABILITY.

  • avatar
    folkdancer

    “GM has received the first tranche of $4B from the Federal Government”

    A while back TTAC listed in one of the news stories the true gifts we have been giving and will be giving to the auto and auto finance companies.

    Would you please run that list again?

    I want to copy the list and forward it to my acquaintances who are not car people and think we are saving something or other by handing out those gifts and also have no idea how many gifts we are handing out.

    Thank you,

  • avatar
    ExtraO

    Humpty-Dumpty sat on a wall…

  • avatar
    BMW325I

    Of the 3, Ford is actually trying. Although they are using a great amount of Mazda and Volvo parts.


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