GM, Chrysler now say they need billions more


	GM, Chrysler now say they need billions more

BobbyDelray

2-18-2009 7:50 AM

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BobbyDelray says:

What should we do? Bailout? Bankrupt?

1 Comment |

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2-18-2009 9:50 AM

burndata0

Adapt or die! Don't worry, when they go out there will be another better company right on their heels to fill the void.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/66e39ca6-d5c5-4ede-8f2d-8639d53bc46e/AD045BB9-FCAD-4B2C-A015-19323CCFEF51/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more" href="http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more" style="font-size: 11px;">www.freep.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more"><P>General Motors Corp. and Chrysler LLC summoned the prospect Tuesday of their collapse unless they get $7 billion in federal aid within six weeks -- part of a dramatic plea for a total of up to $39 billion to survive the worst economic crisis in the history of Detroit's signature industry.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more"><P>The plan calls for closing five more plants in the United States than previously announced, bringing total plant closures to 14 over the next three years, and eliminating 47,000 jobs worldwide this year and 20,000 in the United States by 2012. Chrysler said it would cut 3,000 jobs and eliminate three models from its lineup.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more"><P>GM "remains convinced bankruptcy would be protracted with a significant possibility that exit would not be achieved," the company said.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more"><P>The UAW said it had not agreed to changes in retiree health-care trust funds at all automakers, but Chrysler said it had reached a tentative pact depending on sacrifices by bondholders.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/AD045BB9-FCAD-4B2C-A015-19323CCFEF51/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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