GMC Acadia Forum banner
1 - 11 of 11 Posts

·
Registered
Joined
·
113 Posts
Discussion Starter · #1 ·
It appears this was sent out to anybody who registered to get GM Supplier pricing. Interesting take from the manufactures.


Because our futures are linked, I want you to know that General Motors is doing everything possible to deal with the impact the financial crisis is having on the domestic auto industry. Yet despite our successful efforts to restructure, reduce costs and enhance liquidity, we are facing an uphill battle with the current administration and Congress in securing a bridge loan.

That's why we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

• One in 10 American jobs depends on U.S. automakers
• Nearly 3 million jobs are at immediate risk
• U.S. personal income could be reduced by $150 billion
• The tax revenue lost over 3 years would be more than $156 billion

Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking you to support this vital effort by contacting your representatives.

Please take a few minutes to call your representatives by dialing 1-866-471-5332. Just state your name and address, and your message will reach your legislators. You can review a script that will help you state your support at www.gmfactsandfiction.com. Under the "Mobilize Now" section, click on "I'm a Supplier." If you would rather e-mail your representatives, use the link "I'm a Concerned American."

Please share this information with friends and family using the link on the site.

Thank you for helping keep our economy viable.

Sincerely,


Troy Clarke



General Motors Corporation
100 Renaissance Center
482-A00-MAR
Detroit, MI 48265
 

·
Premium Member
Joined
·
3,374 Posts
Seems like some circular logic in here somewhere...

The 700B bailout was to help with credit...

GM & other builders need credit- "only" 25B...

Why can't they get credit through private sources, who could use a portion of the 700B to fund this?

I know I must be missing something here.
 

·
Registered
Joined
·
43 Posts
It comes down to credit, i.e. GM, Ford, and Chrysler's credit rating...which is deep in junk territory. No traditional institution would extend credit, even with funds from the 700B, to these three without hefty collateral. Collateral that all three are running very short on. With a direct government loan, there will be riders (conditions), of course, but not much in the way of collateral. Fed may do what they did for AIG, assume equity positions in the three in exchange for the credit line, oust the existing management team and bring in new ones.
 

·
Registered
Joined
·
54 Posts
Mr. Warren -

As a US taxpayer and before I decide to bark up my congresspersons way please provide your detailed plan as to how this money will be used. I know most executives (auto industry or otherwise) and/or politicians think american taxpayers are idiots, but I will not support something I would not require of myself when providing a loan to someone.

I look forward to seeing your detailed plan.

Thank You,

One of many people...
 

·
Registered
Joined
·
152 Posts
alvam said:
Mr. Warren -

As a US taxpayer and before I decide to bark up my congresspersons way please provide your detailed plan as to how this money will be used. I know most executives (auto industry or otherwise) and/or politicians think american taxpayers are idiots, but I will not support something I would not require of myself when providing a loan to someone.

I look forward to seeing your detailed plan.

Thank You,

One of many people...
:ditto:

Couldn't have said this any better. :cheers:
 

·
Registered
Joined
·
1,929 Posts
I wonder where Mike Moore is and his plan?? Thank you "Alvam," I follow you. First, as a taxpayer, I would demand these auto execs be demoted to working the assembly line @ $15.00/hr rather than jail. Second, a new outside replacement team be hired to direct the operations of these firms with no contracts or bonuses. Tax payer team would evaluate performance of these people if bail out money were provided, also. It is rather sad we have Execs running these companies with only their interests. Wagner has no bankruptcy plan as he stated yesterday. What another Jerk expecting hand out with no forward planning since early this year. DaaaaH!
 

·
Registered
Joined
·
113 Posts
Discussion Starter · #10 ·
Alvan/Glass ½ full - What I don’t understand is why you rip into me for posting something that appears to be a blanket email sent to people who registered to get the Supplier Discount. All I did was pass on information that I thought others on this forum might be interested in reading. I never once said this was of my opinion and no I am not going to provide you “my detailed plan”. Makes me wonder why I even post on this site if this is the way members treat other members for posting a generic email from GMC.
 

·
Premium Member
Joined
·
2,875 Posts
Swarren7 said:
Alvan/Glass ½ full - What I don’t understand is why you rip into me for posting something that appears to be a blanket email sent to people who registered to get the Supplier Discount. All I did was pass on information that I thought others on this forum might be interested in reading. I never once said this was of my opinion and no I am not going to provide you “my detailed plan”. Makes me wonder why I even post on this site if this is the way members treat other members for posting a generic email from GMC.
Swarren I agree with you, when I saw the replies from Glass and Alvam I was surprised. I am hoping and thinking that it was a misunderstanding on their part. We can only wait till they read this and hopefully apologize. I understood your intent.
 
1 - 11 of 11 Posts
Top