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Yellow | $3.8 billion more for GMAC , how about us !

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R-14Driver

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Treasury to dole out $3.8 billion more for GMAC - Yahoo! Finance
Wednesday December 30, 2009, 4:40 pm

WASHINGTON (Reuters) - The Obama administration said on Wednesday it would provide GMAC Financial Services an additional $3.8 billion of government aid, raising the government's stake in the company to 56 percent from 35 percent.

"These actions offer the best chance for GMAC to complete its overall restructuring plan and return to the private capital markets for its debt financing and capital needs in 2010," the Treasury Department said in a statement.

GMAC had already received $12.5 billion of aid from the U.S. government since December 2008. The latest cash infusion brings total taxpayer aid to $16.3 billion.

All we need is 1.5 Billion ! Can anyone help a Brother out ?
 
dude, yes ur job is valuable and important.....but u cant compare the impact of the car industry that would equate to hundreds of thousands of jobs..they include manufactures throughout the country also...
yrc goes out, they say 30,000 job loss.....the impact otherwise would help out every other trucking company...i will add also these companies would have to hire experienced drivers. and who has more experienced drivers than yrc..

thats the difference
 
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R-14Driver said:
Treasury to dole out $3.8 billion more for GMAC - Yahoo! Finance
Wednesday December 30, 2009, 4:40 pm

WASHINGTON (Reuters) - The Obama administration said on Wednesday it would provide GMAC Financial Services an additional $3.8 billion of government aid, raising the government's stake in the company to 56 percent from 35 percent.

"These actions offer the best chance for GMAC to complete its overall restructuring plan and return to the private capital markets for its debt financing and capital needs in 2010," the Treasury Department said in a statement.

GMAC had already received $12.5 billion of aid from the U.S. government since December 2008. The latest cash infusion brings total taxpayer aid to $16.3 billion.

All we need is 1.5 Billion ! Can anyone help a Brother out ?
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Thats because the Government owns them. Do you really want the Government to dictate everyone's earnings without a choice. Then again Nancy Palossi knows about truck driving better than everyone at YRC. :biglaugh:
 
imovaherenow said:
dude, yes ur job is valuable and important.....but u cant compare the impact of the car industry that would equate to hundreds of thousands of jobs..they include manufactures throughout the country also...
yrc goes out, they say 30,000 job loss.....the impact otherwise would help out every other trucking company...i will add also these companies would have to hire experienced drivers. and who has more experienced drivers than yrc..

thats the difference
Click to expand...

Very good point. The auto industry produces a product that is domestic and markets those cars in other countries, the effect of one shutting down is a great burden for this country.

YRC only offers a service, nothing that is manufactured. YRC is not the only trucking outfit in the US, with that said if YRC goes out of business it will not cripple our economy nor shut down America as there is so many other companies that exists that will service these shippers.

This opinion may sound a little uncaring, though one must look at the bigger picture, not simply why GM got more money and what about us.
 
Good lord it's NOT G.M its GMAC Financial Services!!!
imovaherenow said:
dude, yes ur job is valuable and important.....but u cant compare the impact of the car industry that would equate to hundreds of thousands of jobs..they include manufactures throughout the country also...
yrc goes out, they say 30,000 job loss.....the impact otherwise would help out every other trucking company...i will add also these companies would have to hire experienced drivers. and who has more experienced drivers than yrc..

thats the difference
Click to expand...

Diggin said:
Very good point. The auto industry produces a product that is domestic and markets those cars in other countries, the effect of one shutting down is a great burden for this country.

YRC only offers a service, nothing that is manufactured. YRC is not the only trucking outfit in the US, with that said if YRC goes out of business it will not cripple our economy nor shut down America as there is so many other companies that exists that will service these shippers.

This opinion may sound a little uncaring, though one must look at the bigger picture, not simply why GM got more money and what about us.
Click to expand...
 
$$$$$$$$$$$$

The best part is,that it was in the business section of the papers a few weeks ago,that GM "probably",will not pay back the first 19 billion they were given.Quoted right from a Washington news service.
 
imovaherenow said:
dude, yes ur job is valuable and important.....but u cant compare the impact of the car industry that would equate to hundreds of thousands of jobs..they include manufactures throughout the country also...
yrc goes out, they say 30,000 job loss.....the impact otherwise would help out every other trucking company...i will add also these companies would have to hire experienced drivers. and who has more experienced drivers than yrc..

thats the difference
Click to expand...
GMAC is car insurance and real estate and stuff...not the auto industry.
 
escapemac said:
if this bond deal goes through, what do investment banks know about running a trucking company?
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What do they know about running any business they invest in or bank with? They don't even know how to bank...some of them have shown that they know nothing and have had the first handouts as they stood in D.C. begging...
Of course it was OK for them to fly in from Walstreet with top dollar jets but not OK for General motors to fly in from Detroit.
 
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