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Posted on Feb 18, 2009
General Chrysler

General Motors’ partner in crime, Chrysler, also wants more federal loans, though its plea for $5 billion makes it more like a junior partner.

General Motors, recipient of the 2009 “Nation’s Most Resistant-to-Change Company That Still Gets Federal Assistance” award, wants more. The auto giant on Wednesday asked for $16.6 billion in loans, on top of the $13.4 already granted. All this amid GM plans to shed 47,000 jobs worldwide.


General Motors Corp. asked the U.S. for as much as $16.6 billion in new loans, more than doubling the aid to date, and said it needs some of the cash next month to survive as it sheds brands and cuts 47,000 more jobs worldwide.

Chrysler LLC, propped up like GM with federal assistance, said it’s seeking $5 billion more from the government and will shed 3,000 more positions.

GM and Chrysler met a deadline [Tuesday] to report progress in revamping operations with $17.4 billion in loans granted so far and got a boost from tentative accords with the United Auto Workers to cut labor costs. Now, they must show the U.S. by March 31 that they can return to profit in order to keep the money.

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By dihey, February 19, 2009 at 4:18 pm Link to this comment

I have written elsewhere on this site that President Obama will at least save the part of the US automobile industry that makes the tanks and other military hardware for him to wage his misbegotten war in Afghanistan/Pakistan and continue the apparently indefinite occupation of Iraq.

The automakers know this and are trying to blackmail the Government into also saving the production of their civilian cars.

Eventually the big three will go into receivership and, wow!, it is suddenly discovered that one or all three must make the tanks and other hardware for Obama’s misbegotten war in Afghanistan/Pakistan and his continuation the apparently indefinite occupation of Iraq.

The workers that make the military hardware will continue to get the old wages or even better ones.

Chances are that you and I will never be informed of the “behind the closed door’s deal” on this matter.

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By Purple Girl, February 19, 2009 at 8:31 am Link to this comment

Lop off the heads of all those CEO’s who ran those Co’s into the ground over the last 3 decades by playing patsy with the Oil inudstry and their Foreign masters. They have not only committed Economic treason by shipping our jobs over seas, (actually Stole the Co OUR Workers built), but committed Environmental Treason by refusing to invest in alternatives since the ‘80’s, when they were handed a prototype for the Electric car. Who didn’t notice that the smaller fuel efficient cars had only one heartbeat of life, before SUV’s were rolled out, yanking our nations life line to Energy independence.Instead they drilled another IV to pump more foreign fossil fuels into our system. OPEC and the Oil corps are the Drug Cartel and the auto industy’s CEO’s have been their Mules. the line worker would have assembled whatever they sent down the line.It has been the Top brass and their ‘engineers’ who have sold out American workers, our eocnomy, Our envirnoment and Our national Security (chickens who came home to Roost on 9/11!). ‘They attacks US because of our Freedoms’?? Then why target the heart of the Financial district, the Pentagon and DC- Miltiary industrial Complex!?! If they’d hated US for Our freedoms- why not the greatest Symbol Our Lady Liberty, or Disneyland, Or the Mall of America…Because thats not who they are pissed at!
Until we bring this Organized Crime syndicate which has committed war crimes, crimes agaisnt Humantiy and Treason to justice, forget about national security, Energy independence, Economic Recovery or Even Constitutionality.
These SOB’s used US as their coffers and as scapegoats so they could committ the most heinous high crimes known to man!
Bin laden suceeded in bring down a few building, killing a few thousand people…These Terrorist have now brought down the Country and are endangering the lives of Millions- I want an Ice Cold dish of Revenge served up to every single one who created this Cluster over the last few decades! Start when Ike Warned US about the MIC and move forward! If they’re already dead, seize the assets their heirs inherited since they are Ill gotten Gains (blood money). I’ve got a pitchfork and a torch ready to storm the Castle and Destroy Frankenstein and his monsters.Let’s start with Cheney- all evidence leads to him (Oil/Finance, Military, Policy)

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By reason, February 18, 2009 at 7:31 pm Link to this comment

Hummmm, maybe we should lend them the money at the same rates of interest that the “Payday Loan” businesses were allow to charge people who had no other means of getting through hard times. OR We can base the loan on them producing and guaranteeing hybrid cars that are affordable and dependable.
Affordable and dependable products made by employees here in the United States….. Isn’t that what Henry Ford based the introduction of the Model “T” on?

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By Potent_Placebo, February 18, 2009 at 6:24 pm Link to this comment
(Unregistered commenter)

So GM plans to drop Saturn and Hummer here in the States.  Why don’t they drop the Chevy branding of their trucks and just sell them as GMCs?  As far as I know they are identical mechanically with the GMC brand perhaps perceived as higher quality.  Eliminating the fascia and badging and other small differences as well as consolidating dealerships should save a few hundred million or so.

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