Ford Europe chief asks EU for a 40 billion euro loan

[freegeeks]

linky

They are also looking on this side of the ocean for money

interesting bit

In Germany, executives from GM's Opel unit asked Chancellor Angela Merkel to provide loan guarantees of over one billion euros to keep it afloat if its parent company goes bankrupt. Merkel said Berlin would decide by Christmas.

What would happen to Opel and other European assets of the big 3 when they go bust?
I bet that the French and German car makers are ready to buy the pieces that are interesting.

 

[EXman]

shocking these peeps have no shame.

 

[StageLeft]

Please, they need it. Please give it to them, ok? There's no more money over here.

 

[SP33Demon]

Reminds me of this panhandler who wasn't getting anything on Rt. 1. So he switched to Washington Blvd and got more so he's there every day now.

 

[StageLeft]

Originally posted by: SP33Demon
Reminds me of this panhandler who wasn't getting anything on Rt. 1. So he switched to Washington Blvd and got more so he's there every day now.

Reminds me of the panhandler I heard about who drives a cadillac to "work" and changes into bum's clothes in Boston and begs and makes sometimes 100k/year.

 

[freegeeks]

Originally posted by: Skoorb
Please, they need it. Please give it to them, ok? There's no more money over here.

newsflash, there is also no more money over here

 

[wwswimming]

unemployment insurance for 1 million people at the rate of $2000 a month,
for 6 months = $12 billion.

it's cheaper to give GM etc. the $25 billion they asked for, than to pay the
unemployment benefits which the government of Michigan is on the hook
for, since the workers have paid UI.

it's also an issue that affects most Americans. a decimated Michigan will
have to ask the federal government for $$, and California could use some
of that (monopoly) money.

 

[dullard]

Originally posted by: wwswimming
unemployment insurance for 1 million people at the rate of $2000 a month,
for 6 months = $12 billion.

it's cheaper to give GM etc. the $25 billion they asked for, than to pay the
unemployment benefits which the government of Michigan is on the hook
for, since the workers have paid UI.

it's also an issue that affects most Americans. a decimated Michigan will
have to ask the federal government for $$, and California could use some
of that (monopoly) money.

Or, we can give them $25 B and they STILL go bankrupt next summer - thus we spend $25B + $12B = $37B. I'd rather pay the $12B.

 

[SagaLore]

German executives need their Christmas bonuses and raises too.

 

[Strk]

It would suck to lose Opel, seeing as how quite a few of GM's refreshes were just rebadged Opels.

 

[freegeeks]

Originally posted by: Strk
It would suck to lose Opel, seeing as how quite a few of GM's refreshes were just rebadged Opels.

I don't think that the German govt. will let Opel go broke

 

[Strk]

Originally posted by: freegeeks

Originally posted by: Strk
It would suck to lose Opel, seeing as how quite a few of GM's refreshes were just rebadged Opels.

I don't think that the German govt. will let Opel go broke

I doubt they would. I'd say just look how much they went out of their way to protect VW from another German company.