GM has asked the U.S. government for an additional $2.6 billion in loans to support the development of new hybrid vehicles.
The loan request would help the development of two spinoffs of the upcoming Chevy Volt. This is the first time that GM has confirmed plans to produce spinoffs of the Volt. In January, GM unveiled the Cadillac Converj concept which was based on the mechanicals of the Volt. GM executives have stated that GM plans on using the Volt system in other models to raise volume and reduce costs.
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Comments (10)
Aren't these idiots out of business yet? Get the $2.6 billion through pay cuts to the UAW workers.
Posted by hoohoo | April 2, 2009 9:39 AM
Posted on April 2, 2009 09:39
JUST LET THEM DIE!!! Yes it will suck to have thousands of people unemployed, but at the rate were going, all of us will have to have 10 kids working full time to pay off the debt Obama is racking up.
Posted by Gary | April 2, 2009 10:26 AM
Posted on April 2, 2009 10:26
GM to the US Government - "Yes, you heard us right... We would like another 2.6 Billion to help support the development of new hybrids"
US Government to GM - "Would you like us to wipe your butt too??"
GM to the US Government - "... . o 0 (yes?)"
US Government to GM - "OK enough of this BS..."
***looking amongst themselves before turning towards former CEO Wagoner**
"Lets take it out of his retirement package"
If only.............. one can always dream. :)
Posted by blubbabutt | April 2, 2009 10:34 AM
Posted on April 2, 2009 10:34
The government better not bail out these fools again. Its impossible for GM to convince the people that their hybrids will be better than Toyota's Prius and Honda's Insight.
To GM: Just Die and stop making excuses to get more bailout money. Your cars are a piece of junk anyways. You think hybrids will save your bad rep?
Posted by Crap | April 2, 2009 12:16 PM
Posted on April 2, 2009 12:16
Little or no logic in the request. The technology has already been developed. The only thing I could think of is tooling for the other (Volt spinoffs) assembly lines, and even then it couldn't possibly be that much.
As much as I would love to endorse this company and its products, they just keep dropping the ball. Sorry, but bankruptcy proceedings are practically imminent.
Posted by Kawi | April 2, 2009 1:54 PM
Posted on April 2, 2009 13:54
So they are phrasing this in an 'environmentally friendly' light (if you actually believe that hybrids are good) and then are just going to spread that money around the rest of the company.
Posted by gm0n3y | April 2, 2009 2:32 PM
Posted on April 2, 2009 14:32
You guys are missing the logic here. Hybrid sales down, way down by 2/3 from a year ago. So all Obama has to do is figure out a way to get gas to $4.00 a gallon. The plan TAX gasoline to finance GM and company. At the same time legalize marijuana so that we're all to stoned to care.
Posted by RX-7 Guy | April 2, 2009 5:00 PM
Posted on April 2, 2009 17:00
Ford god sakes just let this crap hole of a company go bankrupt already. They remind me of a damn person on the street that keeps on asking for handouts because they are too lazy to get a job!
Posted by SteelCity1981 | April 2, 2009 5:50 PM
Posted on April 2, 2009 17:50
Even if they got the money, would anyone buy one of their cars?
I like it Africa, so I doubt we will see the cars in the next couple years.
Posted by Deon | April 2, 2009 11:15 PM
Posted on April 2, 2009 23:15
Can we spare $2.6 billion to save the typewriter companies as well? Think of all the people who'll lose their jobs when these companies stop buying typewriter ribbon.
Posted by cobaltssman | April 3, 2009 12:31 AM
Posted on April 3, 2009 00:31