Clock ticking at GMAC

[NOBama]

GM says it will do what it needs to support its financing affiliate as a deadline for a big capital raise looms.

GMAC to become a Bank Holding Co - Maybe.

Now, I wonder if GMAC will lend any of their TARP money to GM if this happens?

After all, GM still owns 49% of GMAC.

 

[Neubarth]

I strongly suspect that a GMAC bankruptcy would take GM down regardless of the Bush Cash Give-away.

 

[JimH52]

GM does not own GMAC. Cerberus Capital does.

Cerberus - Selected Equity Investments

 

[Neubarth]

GM does not own GMAC. Cerberus Capital does.

Cerberus - Selected Equity Investments

GM owns 49% of GMAC. Don't mislead people.

 

[JimH52]

So who owns 51%? Cerberus, right? Is that controlling interest?

But you are right. If GM can get their sticky fingers on some of the cash, they will use it.

 

[Neubarth]

So who owns 51%? Cerberus, right? Is that controlling interest?

But you are right. If GM can get their sticky fingers on some of the cash, they will use it.

It doesn't work that way, there podner.

 

[NOBama]

So who owns 51%? Cerberus, right? Is that controlling interest?

But you are right. If GM can get their sticky fingers on some of the cash, they will use it.

If/when GMAC becomes a bank holding company. Cerberus and GM will be happy campers. GMAC can lend GM money that came to them from the heavens and 3 companies would enjoy the profit if GM survives to pay it back. If they don't, who cares, it was free TARP money to begin with.

It's a circle jerk, IMO.

 

[Neubarth]

If/when GMAC becomes a bank holding company. Cerberus and GM will be happy campers. GMAC can lend GM money that came to them from the heavens and 3 companies would enjoy the profit if GM survives to pay it back. If they don't, who cares, it was free TARP money to begin with.

It's a circle jerk, IMO.

Ahhh!, but the TARP money is not free! I know you know that, and I know that, but does everybody understand that we the taxpayers have to pay it back?

Right now, the Bush Administration is grasping at straws while hanging on the edge of the cliff, and slowly slipping and losing ground and looks to be about to fall and fall and fall and fall......

 

[JimH52]

Ahhh!, but the TARP money is not free! I know you know that, and I know that, but does everybody understand that we the taxpayers have to pay it back?

Right now, the Bush Administration is grasping at straws while hanging on the edge of the cliff, and slowly slipping and losing ground and looks to be about to fall and fall and fall and fall......

and we or my great grand kids will take a screwing...

 

[Neubarth]

Toyota reported Wednesday that global vehicles sales plunged 21.8 percent in November-- its biggest drop in eight years.

Folks, this is serious. It looks like the whole world is screwed. When Japanese car sales plunge that much in just one month we are going to be in trouble for a lot longer than most of us thought when this mess got started.

 

[NOBama]

Ah, but, the Japanese are rolling out an electric car next year that can go 60 miles before needing a charge, and the price... $22,000.

I already told wifie she's getting one when they're available.

GM is screwed with the Volt if the Japs pull this off. The Volt only goes 40 miles before needing a charge and it will cost $44,000.

 

[JimH52]

Ah, but, the Japanese are rolling out an electric car next year that can go 60 miles before needing a charge, and the price... $22,000.

I already told wifie she's getting one when they're available.

GM is screwed with the Volt if the Japs pull this off. The Volt only goes 40 miles before needing a charge and it will cost $44,000.

True, if GM thinks the Volt at that price is going to save their company, they are dearly wrong. I heard $35-45,000.

 

[JimH52]

Fed grants GMAC ability to seek bailout funds - Yahoo! News

Done

 

[JimH52]

GMAC quiet on bailout hurdle after deadline passes: Financial News - Yahoo! Finance