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BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY
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Kat Mama
User ID: 502623
11/20/2008 12:45 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
They can only stay in biz if YOU BUY their crap. Quoting: Anonymous Coward 487325
Well, we literally can no longer afford to buy their crap. Looks like they're doomed in the end - as are we. |
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Anonymous Coward
User ID: 376196
11/20/2008 12:47 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
the entire system is head together with toothpicks and silly-putty Quoting: Anonymous Coward 447567
You mean mighty putty?
https://www.mightyputty.com/spark/index.php?videoID=putty& amp;bufferTime=10 |
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Anonymous Coward
User ID: 445549
11/20/2008 12:47 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
rally is saying something. |
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Anonymous Coward
User ID: 342843
11/20/2008 12:48 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
U.S. Stocks Gain on Prospects of Car-Industry Rescue; GM Jumps
By Eric Martin
Nov. 20 (Bloomberg) -- U.S. stocks gained, rebounding from an 11-year low, on prospects that lawmakers will reach a bipartisan agreement to rescue the auto industry.
General Motors Corp. rallied 15 percent, reversing a 39 percent slide that sent the largest U.S. carmaker to its lowest price since 1938, after an aide to Democratic Senator Carl Levin said an agreement has been reached. Ford Motor Co. jumped 29 percent for its steepest advance since at least 1980.
The S&P 500 rose 2.02 points, or 0.3 percent, to 808.6 at 12:40 p.m. in New York, after earlier tumbling as much as 3.7 percent. The Dow Jones Industrial Average added 67.46 points, or 0.8 percent, to 8064.74.
Stocks climbed after the S&P 500 dropped to 776.76, matching the lowest close during the bear market that followed the dot-com bubble. The benchmark index for American equities lost 43 percent this year, with the earlier decline leaving it poised for its worst year ever.
The earlier retreat came after jobless claims jumped to the highest level since 1992 and costs for protection against corporate defaults surged to a record on concern one of the nation's three automakers would be forced into bankruptcy. |
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FinalCountdown
User ID: 515105
11/20/2008 12:49 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Don't be too excited about their little rally...It did this yesterday too....and it's lunchtime...
Did ya'll notice that they scheduled their press briefing for the last hour of trading? haha tryin to save the day |
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Anonymous Coward
User ID: 342843
11/20/2008 12:50 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Looks like we're going to have another one of those 400-500 point rally days. |
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Godot
User ID: 535097
11/20/2008 12:50 PM
 | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
rally is saying something. Quoting: Anonymous Coward 445549
Rally? LOL... alrighty then.
Call me when the DOW hits 13,000.
Yes it's safe, it's very safe, it's so safe you wouldn't believe it. |
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Anonymous Coward
User ID: 342843
11/20/2008 12:50 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
+160 |
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Anonymous Coward
User ID: 490844
11/20/2008 12:52 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
rally is saying something.
Rally? LOL... alrighty then.
Call me when the DOW hits 13,000. Quoting: Godot
13,000....lol.
the DJIA is indeed rallying..probably push to 9000-9500 tops.
then down again to retest. |
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Anonymous Coward
User ID: 434204
11/20/2008 12:52 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
This ain't no free market.
This isn't America.
This is the United States of Bush Enterprises.
this has nothing to do with Bush.
dope. Quoting: Anonymous Coward 490844
You're right. More like Cheney. |
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JohnnyCarcinogen 
User ID: 541702
11/20/2008 12:53 PM
 | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Auto Bailout Compromise Reached by Key Senators
Key senators reached a compromise on a $25 billion bailout of the three big US auto makers, the Detroit Free Press reported.
Details were not immediately available, the paper said..
A draft of the compromise being worked on by Michigan Sen. Carl Levin and Sen. Christopher Bond, R-Mo., would use the $25 billion set aside by Congress in September for retooling auto plants over the next several years and lend it to auto makers immediately, the paper said..
Automakers would face strict conditions on using the money, similar to what financial firms faced under their bailout, and as they repaid the loans, the money would go back into the retooling fund, the paper said.
The stunning reversal came after a plan to give $25 billion from the Wall Street bailout fund stalled in Congress and appeared dead for the year.
The stakes are high. The Detroit automakers employ nearly a quarter-million workers, and more than 730,000 other workers produce materials and parts that go into cars. About 1 million more people work in dealerships nationwide.
If just one of the automakers declared bankruptcy, some estimates put U.S. job losses next year as high as 2.5 million.
The leaders of General Motors, Ford Motor and Chrysler painted a grim picture of their financial position during two days of congressional hearings, warning that the collapse of the auto industry could lead to the loss of 3 million jobs.
Detroit's automakers, hurt by a sharp drop in sales and a nearly frozen credit market, burned through nearly $18 billion in cash reserves during the last quarter, and GM and Chrysler both said they could collapse in weeks.
"I don't believe we have the luxury of a lot of time," GM CEO Rick Wagoner told a House hearing.
Alan Mulally, the CEO of Ford, said the company had sufficient cash reserves to make it through 2009. But United Auto Workers union president Ron Gettelfinger said a bankruptcy could spawn others.
Automakers ran into more resistance from House lawmakers, who chastised the executives for fighting tougher fuel-efficiency standards in the past and questioned their use of private jets while at the same time seeking government handouts.
"My fear is that you're going to take this money and continue the same stupid decisions you've made for 25 years," said Rep. Michael Capuano, D-Mass.
Gettelfinger says the Bush administration and Congress need to come to an agreement on aid for the domestic auto industry because "inaction is simply not an option."
At a news conference in Detroit, Gettelfinger acknowledged there is disagreement about how aid should be given, but "both the Bush administration and congressional leaders agree that immediate assistance is needed, and the cost of not acting would be devastating."
Gettelfinger says without help, one or more of the Detroit Three automakers could collapse by the end of this year, and "the costs that would come from this are just too great."
[link to www.cnbc.com]
Sign the petition to make Texas an open carry state [link to www.petitiononline.com] |
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Anonymous Coward
User ID: 255704
11/20/2008 12:53 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
If they can bailout the billionaire scam artists at Goldman Sachs etc, maybe they can spare a few bucks for an industry that actually produces something real.
A GM- Chrysler collapse would have triggered a real economic depression. This might stave ugly scenario off. |
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Anonymous Coward
User ID: 508527
11/20/2008 12:53 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
they're just delaying the inevitable. |
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Anonymous Coward
User ID: 516570
11/20/2008 12:54 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Main Street is to big to fail ....
Yet these fools have done nothing to help me or you
Since this Nation is that of a service industry and we are nothing but a consumer nation now , The focus should be on the people whom would spend the money.
Without us this will be an Epic Fail |
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Anonymous Coward
User ID: 523343
11/20/2008 12:55 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
I can see a loan to the auto makers but where is the controls? Where are the assurances that the money won't go to Mexico or China or wherever?
Whenever I go for a loan I have to practically sign away rights to my first born for the privilege and the lender has strict control over what I do with the funds.
I don't buy "domestic" cars since they started making them in Mexico. |
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Anonymous Coward
User ID: 434204
11/20/2008 12:55 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
A GM- Chrysler collapse would have triggered a real economic depression. This might stave ugly scenario off. Quoting: Anonymous Coward 255704
Unlikely. More like just delay the inevitable depression. |
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Anonymous Coward
User ID: 555123
11/20/2008 12:56 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
bailout, bailout, bailout, bailout
bailout, bailout, bailout, bailout
bailout, bailout, bailout, bailout
bailout, bailout, bailout, bailout
Bail EVERYBODY out.
Go, capitalism, go!
The lesson is: "If you steal US$ 10, jail. If you steal US 10 million, bailout" |
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Anonymous Coward
User ID: 555140
11/20/2008 12:56 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
what about bailout for the people you fucking retarded assholes governing the countries. you fucking inbreed retards!! |
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Anonymous Coward
User ID: 445549
11/20/2008 12:56 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
This will help the market more then the 700b bank featherbedding. |
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Anonymous Coward
User ID: 418693
11/20/2008 12:57 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Yeah!!! Sounds like the money they might give them is from funds that we're already set aside for them to come up with greener technology. |
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Anonymous Coward
User ID: 532556
11/20/2008 12:59 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
If they can bailout the billionaire scam artists at Goldman Sachs etc, maybe they can spare a few bucks for an industry that actually produces something real.
A GM- Chrysler collapse would have triggered a real economic depression. This might stave ugly scenario off. Quoting: Anonymous Coward 255704
and that is the problem right there, that mentality. The bailout should have never passed, period. But now that it did, that is what people will refer to all the time. "If we did this, then we can do this" and on and on and on. Let one thing slide, and it snwballs into more and more and more. Less earned income we keep, less liberties, etc. This is how it works until we stop letting them get away with it. Any money pumped into the auto industry will just delay the inevitable, but now the citizens are more on the hook than before. |
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Godot
User ID: 535097
11/20/2008 12:59 PM
| | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
So there was no advanced approval of yesterdays new loan request. There is an attempt to rewrite the set-aside.
I see... so this headline should read "Carl Levin and Wagoner sling BS while trying to keep thier jobs"... and nothing more.
Yes it's safe, it's very safe, it's so safe you wouldn't believe it. |
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Anonymous Coward
User ID: 555123
11/20/2008 12:59 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
This is the same government that has the nerve to condemn piracy in Somalia. Obama will be the same. As would be McCain. Stop trusting those bozos, will you? |
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Anonymous Coward
User ID: 240809
11/20/2008 1:05 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
I guess it's fuck the green technology, lets reward the global corporations for bad business practices!
Cars are not selling now, how is bailing the big three going to change the slump in auto sales?
Are they going to pay the workers to stand around and do nothing until sales pick up? No.
The layoffs will stillcome and the money will be used to finance over seas production plants.
Thanks again American Taxpayer! You stupid fucker.... |
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Anonymous Coward
User ID: 342843
11/20/2008 1:06 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Dow +24 |
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Anonymous Coward
User ID: 418693
11/20/2008 1:07 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Dow +186
They likey!! |
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Anonymous Coward
User ID: 532556
11/20/2008 1:09 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
I just love how they call it a "Bipartisan" group of senators. Bipartisan means we will be getting fucked on both ends at the same time. The U.S. taxpayer gets put on a rotisserie. |
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Anonymous Coward
User ID: 342843
11/20/2008 1:13 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Dow +186
They likey!! Quoting: Anonymous Coward 418693
Um. No. That faded.
Now it's just Dow +5. |
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Anonymous Coward
User ID: 342843
11/20/2008 1:14 PM | | Re: BREAKING: AGREEMENT REACHED TO BAILOUT AUTO INDUSTRY | Quote |
Ha! It's just three Senators and "hope"...
WASHINGTON, Nov 20 (Reuters) - Three U.S. senators were still working on a bipartisan bill to assist the automotive industry and hoped to reach a deal, a Democratic Senate aide told Reuters on Thursday.
"They're working on a bipartisan bill and hoping to reach an agreement soon," the aide said.
But chances of passing legislation were slipping away quickly, said other aides. |
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Sireen-reborn
User ID: 547681
11/20/2008 1:14 PM
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THIS is a good thing!
A draft of the compromise being worked on by Michigan Sen. Carl Levin and Sen. Christopher Bond, R-Mo., would use the $25 billion set aside by Congress in September for retooling auto plants over the next several years and lend it to auto makers immediately, the Detroit Free Press said.
CNBC.com
Big 3 Bailout---------------------------------------------------------- ----------------------
Because they are stipulating exactly where that money should go....and that is to retool the plants for new products thus providing numerous jobs for many of us! They can't run off with the money on 20,000 dollar private plane trips and dole out huge bonus's with it!
anything after 'but' is bullshit!
[link to www.myspace.com] |
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