GM; Ford; Chrysler: Can You Spare $ 40 Billion For These Bums?
GM reported a Q2 loss of $15.5 billion Friday, a week after Ford posted a $8.7-billion loss.
Chrysler, meanwhile, failed to renew all of its $30 billion in short-term debt, coming up $6 billion short after a month of negotiation with banks.
Standard & Poor's lowered the credit ratings of all three automakers last week to well below junk status.
Today, the CEO's of Detroit's three automakers are panhandling Congress to...
make as much as $35 billion to $40 billion in low-cost loans available during the next two to three years to assure that the companies survive.
The Nattering One muses... Where were their heads?
Over the last several years, Wagoner, Mulally, Nardelli et al. have yet to retool and build a new generation of fuel-efficient vehicles for North America.
Yet, for years all three have offered fuel efficient vehicles in Europe and Asia. Adding insult to injury...
In 2006, all three ceased production of dual fuel CNG compressed natural gas vehicles in favor of costly and inefficient hybrid solutions.
Now they collectively panhandle for a low interest handout to "remain competitive".
Nature should be allowed to take its course and these dinosaurs who have their collective heads buried in the sand, should go the way of the dodo... extinct.
Chrysler, meanwhile, failed to renew all of its $30 billion in short-term debt, coming up $6 billion short after a month of negotiation with banks.
Standard & Poor's lowered the credit ratings of all three automakers last week to well below junk status.
Today, the CEO's of Detroit's three automakers are panhandling Congress to...
make as much as $35 billion to $40 billion in low-cost loans available during the next two to three years to assure that the companies survive.
The Nattering One muses... Where were their heads?
Over the last several years, Wagoner, Mulally, Nardelli et al. have yet to retool and build a new generation of fuel-efficient vehicles for North America.
Yet, for years all three have offered fuel efficient vehicles in Europe and Asia. Adding insult to injury...
In 2006, all three ceased production of dual fuel CNG compressed natural gas vehicles in favor of costly and inefficient hybrid solutions.
Now they collectively panhandle for a low interest handout to "remain competitive".
Nature should be allowed to take its course and these dinosaurs who have their collective heads buried in the sand, should go the way of the dodo... extinct.
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