GM and Chrysler want government handouts

http://www.reuters.com/article/newsOne/idUSN2735477920081028
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General Motors Corp and Cerberus Capital Management have asked the U.S. government for roughly $10 billion in an unprecedented rescue package to support a merger between GM and Chrysler LLC, two sources with direct knowledge of the talks said on Monday.
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Note that is $10 billion on top of what they are already scheduled to get. All of the automakers are supposed to share in a $25 billion handout to help them convert to high efficiency vehicles.

I don't like this, but it might be necessary. The economic carnage from letting those two companies fail is not something the US economy could take right now.

Jay

Post #298,494 by jay 10/28/08 11:03:50 AM Reply	GM and Chrysler want government handouts http://www.reuters.com/article/newsOne/idUSN2735477920081028 ---- General Motors Corp and Cerberus Capital Management have asked the U.S. government for roughly $10 billion in an unprecedented rescue package to support a merger between GM and Chrysler LLC, two sources with direct knowledge of the talks said on Monday. ---- Note that is $10 billion on top of what they are already scheduled to get. All of the automakers are supposed to share in a $25 billion handout to help them convert to high efficiency vehicles. I don't like this, but it might be necessary. The economic carnage from letting those two companies fail is not something the US economy could take right now. Jay
Post #298,536 by mhuber 10/29/08 8:53:39 AM Reply	Where do I go to ask? Massage therapists are in trouble. I've had $300/month worth of regular clients suspend treatment specifically because their retirement accounts are in trouble. I now do not have enough regulars to pay my rent. I'm surviving on one-shot appointments. I'm sure this is hitting tech people too.
Post #298,540 by boxley 10/29/08 9:51:52 AM Reply	yup, holding off on chiro visits if lemmy and god had a wrestling match who would win?

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