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Old 11-10-2008, 03:39 PM   #6 (permalink)
PAULSTS1
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Re: Democrats press for car industry rescue

Ford made some moves and sold off assets to by them another year. While the stock price sucks, they have a 10 Billion credit line that is still available. GM is in critical condition, they have at the rate of cash burn until maybe mid January then it's quitting time! If the Federal Reserve give them $25 Billion, by summer's end, they will be broke again, this time no money for a bailout, and they will default. This is the worst senario of all, the company will have Crashed and Burned. Also, no matter what is done, the employees won't be saved, the company has too many of them, there will be a massive firing. Also all this trouble has already caused a fear of purchasing a GM product, this will not end until the Company is on permanent solid operation (2011-2014).
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