Bailout Watch 318: "GM Statement on Receiving the First Tranche of the Federal Bridge Loan"
January 2nd, 2009 6:51 AM Share
“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.”
Published January 2nd, 2009 6:50 AM
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4 of 11 comments
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.
Humpty-Dumpty sat on a wall...
Of the 3, Ford is actually trying. Although they are using a great amount of Mazda and Volvo parts.