: Tentative deal reached on Detroit 3 loans

The Tony Show
11-20-08, 03:26 PM
It looks like a tentative deal may have been reached.

Congress won't vote until December, asking GM, Ford and Chrysler to first provide proof of how the loans will turn around their companies and not just delay a Ch.11 filing.

http://news.briefing.com/GeneralContent/Investor/Active/ArticlePopup/ArticlePopup.aspx?ArticleId=NS20081120131229Headli neHits

This is great news for America and the economy. The Government will make money from the loan repayment, while fewer jobs will be lost in a restructuring than would be in a total collapse.

11-20-08, 03:55 PM
Good! As an employee of a dealer that sells Chevrolet, I'm VERY glad to hear this! :highfive: :thumbsup:

The Tony Show
11-20-08, 04:02 PM
We're probably the only ones, Chad. Everyone else is having too much fun Monday morning Quarterbacking a Global company in the other threads.

Lord Cadillac
11-20-08, 04:05 PM
To GM: Do a good job from this point on or good riddance.

11-20-08, 04:12 PM
I hear ya Tony. I'm in an odd position....I work for GM (in a sense) but I'm not a real HUGE supporter of GM, nor do I drive GM, currently. But I would like to see them succeed and build cars that are better than the imports, if for nothing more than a "hey what now?!?!?" factor.

11-20-08, 05:40 PM
To GM: Do a good job from this point on or good riddance. This is GM's last chance...they have no choice but to succeed.

I still think this will do practically no good...the pace that GM spends money, this will only last so long.

I still firmly believe that the arrogant Wagoner has got to go. Same with Nardelli.

11-20-08, 05:44 PM
As a employee at the Cadillac dealer, I am beyond relieved. I just hope GM doesn't screw up like they have so many times before, or we can all kiss them goodbye.

11-20-08, 05:53 PM
As I read this it's a tentative deal, nothing firm yet and still not voted on.

11-20-08, 06:24 PM
Has anyone said what % of gov't money GM will get? Would it be based on market share?

11-20-08, 07:55 PM
The democrats are not going to pass anything unless it is framed in a way that they can later blame the republicans and Pres Bush. The car companies still have to detail where the money will go, and then the congress is going to have to analyze that. It is doubtful that anything is going to happen before they go on Christmas recess . . . ergo, it is unlikely that anything is going to happen before Obama takes office. That which has been going on and continues is merely political posturing, making sure the home folks think that they are doing their jobs. Look at what the democrats have done in the last 2 years with a majority in the house. It will be interesting to see what the car companies deliver next week.

c5 rv
11-20-08, 10:03 PM
"Tentative deal reached on Detroit ... lions"

I misread the title and was ready to celebrate the sale of the Lions.