Money Beat

Maybe they can ask the Fed to print a few more billions out of thin air (like they've been doing all along).
Too bad when the schools need more money to educate our children they can't just print it out of thin air like they did for the Wall Street honchos. Next time the government tells you there is no money to do this or that, remember there is no amount too big for Wall Street...
Government by the people for the people? You must be joking dude!

Here we go again. Another layer in an ever expanding "house of cards" of our financial condition. The employees should plan on and expect to never receive the money they give back to GM to finance buying GM. Only a fool would think this is a good deal in todays precarious environment.

I'm not sure the UAW has the money but if they do, that might actually be a good idea. It would certainly mean GM car building would stay in the US.

In the alternative, they could ask the Obama campaign for a loan. :)

I can see it now. Another major company with it's hand out asking for more of our money. If autos weren't so overpriced maybe we'd be more likely to buy them, and if the quality of GM and Chrysler compared to Toyota, Nissan, Mazda, we'd be more likely to buy from them. They are poorly made and engineered. I had a mercury that I bought new, and after only 38,000 miles, it was falling apart, but my camry bought new, I had 280,000 miles before I sold it and it still ran great. No comparison in the quality.

It is really simple, we are losing so many jobs overseas and we as American's refuse to stop the bleeding. When I drive down the street about every third car is American made. The Japanese and Korean's have us duped into believing that their cars are superior to ours. That simply is not true. If you are truly worried about the economy BUY AMERICAN!!! They are beating us at our own game. Their cars are now made here with prfits going back there. In the late seventies Reagan slapped tariffs on Jap bikes over 700cc's, we can't do something like that now because their plants are here. So keep buying foreign cars and when you lose your job, don't blame GM or Chrysler.

GM wouldn't need a bail out if they had just made FUEL EFFICEIENT VEHICLES!!! HELLO!!!!!!!!!!!!!!!!!!!!!!!!!

I love GM and I hope they make it through the rough!

McCain needs to answer on the story below! Why in the world would he select someone so dangerous to run with him!

Breaking News: The Terrorist Group AKA Alaska Independent party Calling on Russia to help secede from the Union

Extremists Mark Chryson and Steve Stoll former leaders of the Alaska Terrorist group AKA Independence Party and friends of Sarah Palin are calling on Russia to help them gain independence from the United States.

Watch video of Sarah palin addressing The Alaska Terrorist Group also known as The Independence party. They are calling for a civil war against the mainland.

www.chilitoz.com

I think GM also should focus on the affordable mini electric vehicles like Germany, Japan to attract investors. It seems the electric vehicles are going to be mainstream. Over time they can be upgraded to both cheap and spacious ones like laptop.

Just take it out of the $700 B check we wrote our uncle....

Sorry folks but the Unions golden age of the 70's is long dead. The reason the American cars are a distant last in quality and cost the same in many cases as imports is simple. The unions did this to themselves by forcing companies to pay the un-educated $30/hr, plus benefits, plus pension, to do simple work. People need to start being paid what they're worth not what the union says they're entitled to or use more automation. Unskilled labour is a dead trade which has moved off-shore and it's long over due. The big three need to go bankrupt and be reborn from the ashes with intelligent and reliable designs without the union BS.

okay, "mom", a mercury is not a GM product, its manufactored by Ford, as is Mazada. GM produces the following: GMC, Chevy, Hummer, Saturn, and Caddies (there are more, I'm sure, I just can't name off the top of my head).

Yes they are asking for a handout, but unlike wallstreet, it isn't there fault that the economy tanked. We need the aut- industry. They supply alot of jobs here to Americans and if the gov't doesn't help, bankrupcy and/or the lose of these jobs will not help our current economic situation.

If you think the unions distroyed the big three, wait until Obama gets in. He has promised the unions to support thier bill. "The Employee's Free Choice Act" This will strip away the secret ballot so unions can strong arm there way into companys. That is wyh Wal-mart told thier employees that if Obama gets elected there would be major job cuts.

Big Oil!!! Why not ask the big oil companies with their $96billion profit from one quarter to throw $100 at the auto industrie? Oh yeah...they will specify that the money NOT be used for anything except "Interstate Gas Guzzling SUVs and Trucks"!!

i do not know why the media continues to mislead the public. the second paragraph states consumers cannot get car loans. that is so NOT true. as a finance manager i help consumers obtain car loans on a daily basis, good credit or bad credit. guess alice needs to get her facts straight before she misinforms the public again.

Sean is correct; we have been duped into believing that American built cars are inferior. We build as good a car as any country on earth. My parents and yours help to fund the research and developing of the automobile as we know it today. The Japanese said thank you AMERICA for all that hard work we will just steal it and make our cars from all of you R&D. The Japanese are now having the same thing happen to them by Korea. The next in line to steal technology will be the Chinese! GM, Ford and Chrysler gave employees a good deal in the form of good wages and benefits. They now have a generation of retirees that are collecting and the Japanese are yet to reach that situation. Who do you think will pay for the care of all those people that will lose benefits because we buy foreign cars, YOU! If you have a compelling reason for some functionality that cannot be attained in an American car then you should buy American.

you, "an insane voice"... learn the language first, and then go post your aberrations online... get it, Mazada??

I always drove Chryslers and every single one of them the engines blew right after the warranty (36,000 mi was up).
In 2002 I was going to buy another one and my son said just go look at the Hyndais. Well I ended up buying a Sonata still have it((93,000 mi & still under warranty) ,bought a Accent for the kid and my husband bought a Santa Fe. Sorry the cars are great! Can't beat the warranty and next year will be buying a new car and guess what it will not be an over priced, poor warranty Chysler,GMC or Ford. Most foreign cars are made here in US anyways.
So start making cars that are not a piece of junk so I will change my mine and go US next year.

In my life I owned several cars, some Japanese some American. As far as fuel economy and re-sell value I would vote for Japanese. As far as quality the American cars came a long way and they are not so bad anymore but why would you buy a car that after 2 years will lose half of its value unless you plan on driving the same car forever.
As for the Unions ( I'm in the Union myself ), it is true some workers are way overpaid and are not skilled at all and maybe that's what's killing the American Auto Business.

I think neither company should sell to the other one. Why not start to manufacture some cars that will get the public's attention for a change? How about something much smaller than their current offerings with a lot better gas mileage? All it would take would be one "Prius" type to change their direction for the better. Both companies could offer an alternative to the ugly Prius and make a killing. Why is there no talk about such a project in the works? Merger? We don't need a monopoly on the BIG 3 car manufacturers which would be the BIG 2 if a merger took place. I do not support such a venture.

Same place they always do. Closing down place they always do. Sacrificing places in the US for some town that sprung up overnight in an other country for cheep labor. The CEOs like maintaining their "Lifestyle", while the workers have always had judge their necessities and luxuries.

Sure, we are a two car family Camry / Civic. Never been more pleased with
quality and performance. Prior to this owned a variey of American cars, most
of them appealed to the eye. Lesson learned, pocket appeal and durability takes priority.

Unions have priced cars out of sight with all of their "benefit" packages for workers and it goes on and on.
Unfortunatly the quality of workmanship does not keep pace.

I'd be most anxious to buy American if the price were reasonable and quality of workmanship were reliable.and the manufacturers, unions and car dealers did more than stuff their own pockets
at my expense.

Final note .... truck clearance taking place by dealers here in Texas..How is it possible to "save" $10,000 or get $5,000 - $8,000 "cash back" when it's ones own money to start with?

I work for a Chrysler dealer...just a disclaimer.

"One who hate idiots" Yeah, Chrysler did have lots of engine and tranny problems. Right now though they still have the lifetime powertrain warranty on most vehicles.

Now if they'd just build some fuel efficient ones to try and sell....

I don't see what the merger/buy out would gain.

Both companies have too much production capacity. Too many dealerships. To many cross-brand vehicles. Declining marketshare. I really don't see what could be gained by this. *shrug*

I work for a Chrysler dealer...just a disclaimer.

"One who hate idiots" Yeah, Chrysler did have lots of engine and tranny problems. Right now though they still have the lifetime powertrain warranty on most vehicles.

Now if they'd just build some fuel efficient ones to try and sell....

I don't see what the merger/buy out would gain.

Both companies have too much production capacity. Too many dealerships. To many cross-brand vehicles. Declining marketshare. I really don't see what could be gained by this. *shrug*

I have owned Chevy, Mercurys, and alot of Mopars-I drive a Sebring convertible now with 115,000-it has been wonderful, we also have a Honda Odyessey 112,000-that has been one expense after another, any service costs twice as much as the big three, had a Audi that almost bankrupted me. There are good and bad cars in both. I agree America has to make better gas mileage. I will continue to buy American and I'm also Union-all industries or not benefit from the hard work of Union leaders to make the work place a better place, if you don't believe that-you better re-address your History lessons. If you want to go back to before Unions happened go over seas and work.

I cannot believe the ignorance of some of you people regarding today's auto industry. You all need to take a close look at what the domestic auto manufacturers have done lately.
First, as for quality - take a look at any quality survey from the last 3-4 years. There is very little difference in quality from top to bottom – often a matter of a few problems per 100 vehicles. Overall quality for all makes has improved dramatically from 10 years ago. As for differences between domestics & imports – you cannot categorically say one is better than the other. Here are some FACTS:
2008 JD Powers Initial Quality Study (http://www.jdpower.com/corporate/news/releases/pressrelease.aspx?ID=2008063):
Best Midsize Car – Chevrolet (GM) Malibu (beat Honda Accord, Hyundai Sonata, Mazda 6, Nissan Altima, Toyota Camry, & Volkswagen Passat)
Large Car – Pontiac (GM) Grand Prix (beat Nissan Maxima & Toyota Avalon)
Of course the domestics dominate the Truck/SUV categories as well – I won’t list all those.
Or if you prefer, 2008 JD Powers 3 Year Dependability Study Rankings (http://www.jdpower.com/corporate/news/releases/pressrelease.aspx?ID=2008115):
1 Lexus, 2 Mercury (Ford), 3 Cadillac (GM), 4 Toyota, 5 Acura, 6 Buick (GM)
Or how about
2008 Motor Trend Car of the Year – Cadillac (GM) CTS
2007 North America Car of the Year – Saturn (GM) Aura
2007 North American Truck of the Year – Chevrolet (GM) Silverado
So don’t be spewing the same old misconceptions about quality because the facts don’t support your venom towards the domestic manufacturers.
To “one who hates idiots” – Uhmm, Chrysler has a lifetime powertrain warranty, GM has 100,000 mile powertrain warranty, not sure what Ford’s is. Do you think these automakers would offer these long warranties on their powertrains if they are going to “blow up” after 36,000 miles? Of course not, the quality is there to back up these warranties and vice/versa.
To “fuel saver” – You wonder if anyone has an electric car “in the works”? Where have you been?! GM is developing the electric Volt and will beat Toyota/Honda/etc. to the market with a purely electric (no hybrid) vehicle.
I don’t understand how people can be so bitter towards the domestic auto industry that represents such a huge footprint in the American economy and landscape. This industry cannot be allowed to fail (while at the same time we are bailing out Wall Street/Fannie Mae/Freddie Mac/AIG?). And some of these comments regarding the domestic auto industry are irresponsible and untrue.

Once again I submit think how many out of work people there will be in the USA when the war is over? Not jut soldiers but defense contractors and people who supply just the basic supplies and materials. The USA is headed for depression but we dont realize the war is the only thing keeping the economy afloat at the moment. Neither Obama nor McCain want to end the war they know the backlash it will create.

Think before you post: They may have the warranty now for 100,000 but only because if they did not add it their sales would be even worse. Sorry to say that was not the case when I drove them:
1.LeBarron(engine went twice)
2.Minivan
3.Neon (this engine blew at 20,000 miles and I did get new one paid by them...so then they stopped producing because it was cheaper,good on gas and they didn't make as good of a $margin as big old SUV's at 8 miles a gallon did)At 50,000 miles moon roof engine went,first call was from tech who told me a new motor would cost $50.00. 15 minutes later manager called to say "oh can't just replace engine you need to replace whole moon roof for $800.00"
I told him bulls### you order that part & replace it or I was going to call BBB.
Neless to say engine was replaced for & it worked just find!

Big Oil!!! Why not ask the big oil companies with their $96billion profit from one quarter to throw $100 at the auto industrie? Oh yeah...they will specify that the money NOT be used for anything except "Interstate Gas Guzzling SUVs and Trucks"!!

When Detroit builds a 50+ mpg 2-seat tow-motor with plenty of power, that I can back into my minivan, pickup, sedan, off-road, or sports-car module of my choice, and is a plug-in electric featuring regenerative braking and capacitor (Stor Technologies) based energy storage, lock-shift automatic tranny with true neutral gear, has a small supplemental TRUE-rotary (not Wankel) gas engine for long trips and for heat in the winter, THEN I will buy American!
American auto industry needs to leapfrog the competition, not follow them.

didn't the government buy Chrysler once already? No one remembers that ?

Why not buy both GM and Chrysler... a package deal, 2 for 1 sale!

they we can get economical high efficiency cars!

let's write the check!

Why does GM want Chrysler anyway ? Chrysler is just as heavy in SUV-Truck guzzlers as they are. The quality is so-so at best. The labor have the same UAW contracts and high expenses. GM would better survive without them. Trim down to 3 divisons chevy, buick and cadilac. Dump the rest. Chevy could build the electrics and hybrids. Buick the regular cars and Cadilac the pimpmobiles & SUVs.

I owned a GM car in the 70's and it was a piece of junk. But GM cars have improved alot since then. My 2005 Chevy Astro is way more reliable than my BMW ($2000 to fix the ABS brake system?). Times change. I may trade the BMW for a Malibu. Buying American is cool again.

Listen it's real simple americans are idiots that elected bush twice into office so please stop the crying..... as for GM and Chrysler they were hungry for money big profits etc now they are falling so keep buying toyota's and put them lazy union workers out.... they make 32.00 an hour sleeping on the job etc.... so screw them there cars are junk and unions are the real reason for auto's co. going under. so please stop the crying wake up america.

This is not a hard problem-"it used to be" that foreign nations could not buy property in the United States in fear that they could purchase the country even if they could not win it militarily. Guess how much of Hawaii is still American owned. The price of imports had a tariff so that it would cost as much as the American item- the difference was quality/dollar. Now they do not pay the tarrif because they are assembled here. Whether Canadian,Mexican,German,etc,etc, they are imported as parts and the stencils, chromed plastic, details are added so that the unit is assembled (made) in the United States. If you can give me back $5000 for buying it today, WHY can't you reduce the price by $5,000?

I worked at a Toyota dealership in the used car section, and this is where you get to see the cars not just when they're new, but after they've been broken in and abused, and I have to tell you all, the Honda's,Toyota's, Nissan's, Acura's, Lexus' and so on, are just made much better, and more dependable. I can't tell you the number of Toyota's and Honda's that we took in with over 200k,300k,400k & even 500k miles on them, and still running great. Cars, trucks,vans it did not matter. So much so, that they would all be resold within a week of arriving on our lot. We would send them through the shop to correct any issues, and they would not last a week on our lot. This was eye opening to me, because I grew up around Mopar and GM. One of my brothers liked GM, the other Mopar. I took to the Mopar, since dad liked them too, that was until my first car, a Dodge Daytona, had the timing belt break exactly at 60k miles like they said it might. It bent the camshaft, and that was that, it was never the same. I traded it for a Mitsubishi Galant that I drove for seven years and 169k miles, before selling it to a friend. The workmanship inside the cars is better too, just look at the materials used for the interior design, and you tell me which looks and feels of better quality. Furthermore, resale value is much better on foreign cars, all american made cars depreciate by almost half as soon as you drive off the lot, even when new. GMC and Chevy holds on a little better than most, but not as well as Toyota or Honda. The big three still have a ways to go to catch up, although they are getting better. I drive a'99 Mitsubishi Montero Sport now that runs great, with 140k miles, my wife drives an '07 Chevy Tahoe with 38k miles, and we just had to have the transmission rebuilt, so you tell me which is better quality.