GM, Chrysler, still on life support

[30ashopper]

Make no mistake, these companies are still on life support. The CBO expects that the lion's share of the government's losses on TARP will come, not from anything the Bush administration did, but from the Obama administration's decision to bail out the automakers and to a lesser extent, its bailout of homeowners. It seems that a big chunk of our cost may come from picking up the gold plated pensions . . . "Cadillac Plans", if you will . . . of the automakers. And lest you think I'm picking on unions over management, it was management that used the UAW as a prop to extract these gargantuan sums from the pockets of innocent taxpayers.

I feel like we ought to get a little something back, here. At the very least, they could offer everyone in America that OnStar service that sounds so great in the commercials.

GM: More Troubles Coming Down the Road - Business - The Atlantic

We haven't finished bailing these companies yet apparently, and for that, we can thank the current administration.

 

[Matt J]

I'm glad I drive a Ford.

 

[Douglas the Intrepid]

GM ready to repay govt loan, sees chance of profit

Repaying $6.7 billion in government loans has been a top priority for CEO Ed Whitacre. The government's autos task force set a repayment deadline of 2015 as a condition of giving GM the loans last year. As of the end of March, GM has paid back $2.4 billion and Liddell said GM plans to pay the rest by June at the latest.



GM ready to repay govt loan, sees chance of profit - Yahoo! News