05-19-2009, 03:47 PM
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Banned
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Join Date: Nov 2003
Location: Middle Of Nowhere,
USA
Cobra Make, Engine: ERA 428 FE 4-speed CR "TL" heavy spline
Posts: 3,907
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Gm bankruptcy plan calls for quick sale to gov't
GM BANKRUPTCY PLAN CALLS FOR QUICK SALE TO GOV'T
http://www.reuters.com/article/merge...43363120090519
"In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans that the U.S. has already provided to GM," the source said.
Forgive $15.4 billion? Seems like a piss poor deal to me, as a taxpayer. Basically, why did we give GM funds during the last few months and end up having to forgive $15.4 billion of that loan. Yes, now the government owns the company, but "The government's plans include giving stakes in the new company to GM's union and bondholders, although the ownership structure of the company is still being negotiated, said the source who is familiar with the company's plans."
So, the the UAW will run Government Motors? Will anyone here buy what they will come up with?
This really stinks. |
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