Tag Archives: GM

U.S. Auto industry wants more

According to CNN, GM and Chrysler want $21.6 billion more in loans from the American government. This is juxtaposed with their plans to cut approximately 50,000 jobs worldwide. The logic behind more loans would be that if GM and Chrysler went down the tubes, more than 50,000 jobs would be lost, and the ripples throughout […]

Roundup for Friday 12/19/2008

Bush is going to hook Chrysler and GM up with a $13.4 billion loan. Seems like a reasonable short term deal that will buy time for the incoming administration and Congress to address the issue more comprehensively. Paul Krugman thinks the Madoff scandal is a microcosm of the financial industry as a whole. The essence […]

Senate drops GM & Chrysler bailout bill

(Updated below) From the NY Times: The Senate on Thursday night abandoned efforts to fashion a government rescue of the American automobile industry, as Senate Republicans refused to support a bill endorsed by the White House and Congressional Democrats. This could very likely mean that GM and Chrysler will soon go bankrupt. This will likely […]

A better auto industry bailout

I’ve written a letter to Congress asking them to not bailout the faltering American auto industry. I’ve also written a post explaining you why I think the same industry deserves its date with the dustbin of history. I guess you could consider me an ardent opponent of any bailout of the Big Three. But sometimes […]

Open letter to Congressional Democrats concerning the auto industry

Dear Congressional Democrats, I know you’re planning to bailout the Detroit automakers. Don’t do it. The Big Three deserve to fail. Sincerely, Random Blogger

Things you might not have noticed

The possibility of a $700 billion bailout for Wall Street is looming large over the national conversation, so I’ll forgive you for not noticing these fun nuggets portending America’s doom: Congress is working on passing a $25 billion bailout for Detroit automakers And why $25 billion for companies that have long ago ceased to be […]

US automakers deserve to fail

General Motors, the American car manufacturing giant, recently announced a second quarter loss of $15.5 billion. Sales of cars and light trucks dropped 29% at Chrysler (Dodge), 26% at GM, 15% at Ford. I guess folks aren’t too keen on buying gas guzzling monstrosities when gas prices are rising rapidly. This is bad news for […]