Bailout Watch 318: "GM Statement on Receiving the First Tranche of the Federal Bridge Loan"

Robert Farago
by Robert Farago

“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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  • Sajeev Mehta Sajeev Mehta on Jan 02, 2009

    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.

  • Lynn Ellsworth Lynn Ellsworth on Jan 02, 2009
    “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,

  • ExtraO ExtraO on Jan 02, 2009

    Humpty-Dumpty sat on a wall...

  • BMW325I BMW325I on Jan 02, 2009

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