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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (305758)	5/19/2009 9:20:40 AM
From: LindyBill	Read Replies (1) \| Respond to of 793707

This cannot end well. They are going to make cars no one wants The only way that the Auto Industry can do this is the make the econobox end of the business overseas in the cheapest labor market they can find.

To: Bearcatbob who wrote (305758)	5/19/2009 2:30:12 PM
From: Nadine Carroll	2 Recommendations Read Replies (1) \| Respond to of 793707

I have always thought rising prices would drive higher fuel economy car purchases. I guess I was wrong. We never have had sustained higher prices. I saw one car guy (forget his name) explain that you really needed gas to go up to five dollars and stay there for several years, because the new car cycle needs time to react. People don't buy a new car every month or every year. Even last summer's four dollars seems to be a tipping point, but it didn't last. Don't worry, Obama will introduce a gas tax. Just a question of when.

To: Bearcatbob who wrote (305758)	5/19/2009 7:58:00 PM
From: greenspirit	5 Recommendations Read Replies (1) \| Respond to of 793707

The sad truth is; 1. CAFE standards endanger human lives. 2. CAFE standards fail to reduce consumption. 3. CAFE standards do not improve the environment. They do make the far left and those ignorant of history feel better though. Look for gas taxes to be raised significantly, emulating the Brits and Italian levels. That's what the hard left really wants to do, but are too politically concerned about the backlash to do it now. Jimmy Carter on Steroids, emulating all the same failed ideals and failed ideological policy prescriptions. All we need is another large scale Iranian hostage event and a Sinfuel tax on oil company profits. Better still, Jimmy Carter on Steroids means Obama and the hard left will attempt to nationalize the oil companies. Those who voted for Obama are really going to regret the decision. I blame the wishy-washy undecided who want the government to take care of everything. Socialist utopia indeed! The statists are in full control. You have to laugh at the irony of the rest of America following California off the financial cliff, Arnold (Mr. HUMMER) leading the CAFE charge, and Obama (never worked in the private sector) running so many large companies.

To: Bearcatbob who wrote (305758)	5/19/2009 10:10:54 PM
From: KLP	1 Recommendation Read Replies (1) \| Respond to of 793707

I NEVER thought we'd see a headline like this:CORRECTED - UPDATE 1-GM bankruptcy plan eyes quick sale to gov't Tue May 19, 2009 2:02pm EDT reuters.com (Removes third paragraph with reference to not making any other payment) By Chelsea Emery and Tom Hals NEW YORK, May 19 (Reuters) - General Motors Corp's (GM.N: Quote, Profile, Research, Stock Buzz) plan for a bankruptcy filing involves a quick sale of the company's healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday. The source, who would not be named because he was not cleared to speak with the media, did not specify a purchase price. The new company is expected to honor the claims of secured lenders, possibly in full, according to the source. The remaining assets of GM would stay in bankruptcy protection to satisfy other outstanding claims. GM has about $6 billion in secured debt, including a secured revolving credit and bank debt. 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. 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. The government has given GM until June 1 to restructure its operations to lower its debt burden and employee costs. If those talks failed, the company has said it would follow rival Chrysler LLC into bankruptcy. Setting up a new company to buy the healthy assets is aimed at reassuring consumers who might not be willing to make a major purchase from a bankrupt company, fearing it would not honor warranties or provide service. The board of the new company would be established with the tacit approval of the government. Fritz Henderson, who took the helm of GM earlier this year after the government pushed out Rick Wagoner, would likely head the new company, the source said. GM could not be immediately reached for comment. GM shares were up about 9 percent at $1.29. (Editing by Gerald E. McCormick)