GM Inside News Forum - View Single Post - GM extends holiday shutdown, may cut production

jlt0x · 11-23-2008, 10:36 PM

Smart, simple move that could save a few hundred thousand dollars.

At a time when the govt is "vetting" the consequences of giving Citibank MORE of the $700b bailout funds after already having giving the financial firm $25b is comedy...eh-hem...at least not for possible layoffs.

?Aren't the US Big-3 only asking for $25b in loans all together? Not $25b each? And they have financial ties to dozens of countries and their bankruptcy would effect 3+ million in the US alone...not counting the financial ramifications in their foreign divisions.

Helping the Big-3 should've been a "no-brainer"; do it! The US automakers have confidence in definite profits within 18 months b/c they've been planning to transfer a huge chunk of their legacy costs to new organization created to handle the retirement & pension funds. They'll be able to ink b/t $5-10b in profits immediately and use that money for development and research.

11-23-2008, 10:36 PM	#21 (permalink)
jlt0x 3.0 Liter SIDI V6 Join Date: Mar 2003 Posts: 677	Re: GM extends holiday shutdown, may cut production Smart, simple move that could save a few hundred thousand dollars. At a time when the govt is "vetting" the consequences of giving Citibank MORE of the $700b bailout funds after already having giving the financial firm $25b is comedy...eh-hem...at least not for possible layoffs. ?Aren't the US Big-3 only asking for $25b in loans all together? Not $25b each? And they have financial ties to dozens of countries and their bankruptcy would effect 3+ million in the US alone...not counting the financial ramifications in their foreign divisions. Helping the Big-3 should've been a "no-brainer"; do it! The US automakers have confidence in definite profits within 18 months b/c they've been planning to transfer a huge chunk of their legacy costs to new organization created to handle the retirement & pension funds. They'll be able to ink b/t $5-10b in profits immediately and use that money for development and research.