GM gets another 7.5 billion today

[Gainster]

Fall of '06, they sold their controlling interest.

Now controlled by Cerebrus, which is under the same umbrella as Citigroup.
Now there's a real shocker....

The Obama camp seems to believe that the Chrysler bankruptcy is a template for what it wants to achieve at GM, but that's a critical mistake. Chrysler was a shell of a company, having been stripped of engineering and design talent by Daimler (DAI) and then mismanaged by private equity owner Cerberus Capital Management. The arrangement is to give the United Auto Workers 55% of Chrysler's shares and to give management control to Italy's Fiat (FIA.MI) group. This may work in political terms, but it's not a real-world business arrangement. The supposedly rescued Chrysler is, in fact, a house of cards that almost certainly will come tumbling down.

Is Cerberus the United Arab Emirates financial arm?

 

[Beels]

The Obama camp seems to believe that the Chrysler bankruptcy is a template for what it wants to achieve at GM, but that's a critical mistake. Chrysler was a shell of a company, having been stripped of engineering and design talent by Daimler (DAI) and then mismanaged by private equity owner Cerberus Capital Management. The arrangement is to give the United Auto Workers 55% of Chrysler's shares and to give management control to Italy's Fiat (FIA.MI) group. This may work in political terms, but it's not a real-world business arrangement. The supposedly rescued Chrysler is, in fact, a house of cards that almost certainly will come tumbling down.

Is Cerberus the United Arab Emirates financial arm?

Not sure, but I'm sure they've got money tangled in there somewhere. All I can tell by their website is they're based out of New York.

 

[U81I812]

Here's my prediction:

After all these billions in loans that won't be paid back Chrysler will still go Chapter 7.

Loss to Taxpayers:
1) X Billions on Loans lost.
2) X Billions in warrenty claims - Oboma will pay for all warrenty work for the
company that's out of biz.
3) X Billions to fully fund the UAW's lifetime healthcare account.
4) X Billions to fully fund the UAW's pension fund.

Ain't this just great, waste billions of our money on some auto company that's famous for producing POS vehicles. Then to add insult to injury we will have to pay for their life time medical and pension.

I DON'T GET LIFE TIME MEDICAL AND A PENSION yet I have to pay for someone else's.