car maker loans

[bradfordsvettes]

what is your opinion of the loans to the car makers and the call back of the loans if they do not change their ways

[ken mohr]

Originally Posted by bradfordsvettes

what is your opinion of the loans to the car makers and the call back of the loans if they do not change their ways

I agree but hope the government doesn't try to run the company.

[ChuckG]

An elephant is a mouse built to government specs.

We seem to elect those too dumb to hire.

[ken mohr]

Hope they don't do this.

By FRANK BASS and RITA BEAMISH - Associated Press Writers

Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.

The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found.

That amount, spread among the 600 highest paid bank executives, would cover the bailout money given to 53 of the banks that have shared the $188 billion that Washington has doled out in rescue packages so far.

Some banks trimmed their executive compensation in the face of faltering performance that foreshadowed the current economic crisis, but they still granted multimillion-dollar packages. Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.

Such bonuses amount to a bribe for executives "to get them to do the jobs for which they are well paid in the first place," said Rep. Barney Frank, the Massachusetts Democrat who chairs the House Financial Services committee.

"Most of us sign on to do jobs, and we do them best we can," said Frank. "We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!"

[JBsZ06]

I believe the enviromental shift in credit markets are what hurt US auto manufacturers..

I believe GM will take this opportunity to accelerate their plans to reinvent themselves..
IE> pontiac will become 1 or 2 models ..(to kill off independant single brand Pontiac dealers.

Sell off or close Hummer, saab, Saturn....

Get better deal from the UAW and suppliers..

Close 1800 dealers throughout the country...

Thats what they wanted to do to become more profitable and have the remaining dealers profitable. I just hope everyone here is safe and I do feel bad for those that get hurt from GM's changes...

YET...as a loyal GM customer I feel these changes are still better than GM going away completely...(chapter 11 or chapter 7)

[aquaholic]

it is never a good thing to reward failure.

[JBsZ06]

I don't believe the failure was GM's fault but rather the credit crisis grabbed everyone by surprise.

The bridge loan at 5% is not a gift.

[ken mohr]

Originally Posted by aquaholic

it is never a good thing to reward failure.

I could be a trillionaire

[ken mohr]

Originally Posted by JBsZ06

I don't believe the failure was GM's fault but rather the credit crisis grabbed everyone by surprise.

The bridge loan at 5% is not a gift.

It is there fault for not being prepared.

Example- Toyota - Honda - Kia - and so on.

[JBsZ06]

Originally Posted by ken mohr

It is there fault for not being prepared.

Example- Toyota - Honda - Kia - and so on.

Are you kidding me? The japanese government has been supporting their automobile industry like a well oiled machine whereas here in america our congress has been ripping their automobile new @ssholes..

Hondas already crying for its goverment to intervene with the present currency rates..

IF our country wasn't so quick to bash its manufacturing base it might not be a public passtime that rivals pro sports..

Much less support them?

JMO