Dow index no longer over 9000;GM shares at 58-year low;WSJ:recession's here

[HappySqurriel]

FishyJoe said:

MrBubbles said:

FishyJoe said:
I wouldn't touch GM with a ten foot pole. The Volt is over 3 years away and they still don't have the battery worked out yet. Nobody is going to buy their cars in the next year or two. They are up to their ears in debt. How do you think they are going to pay bills if they can't get any more loans and nobody is buying their product???

 

i thought the USGov was going to give the vehicle manufacturers a $25b "loan" ?

 

GM lost $38 billion in 2007. They lost $15 billion in the last quarter alone.

I could be wrong but I suspect that a lot of (bad) things will be done by the government after the election in an effort to "Bail Out" the American automobile manufacturers; what I would expect is some funding for unfunded liabilities that these companies hold (Healthcare, Pensions), funding to free up financing for new cars, and "investment" into green cars. All in all, I wouldn't be (that) surprised  to see the US government give these companies $250+ Billion ...