GM Plan Calls for $30 Billion; 47,000 Job Cuts

General Motors Corp.'s restructuring proposal says the company may need up to $30 billion in government loans as it implements a survival plan that includes cutting 47,000 jobs and closing five more U.S. factories.(Feb. 17)

Category:

News & Politics

Tags:

• autos
• bailout
• gm
• plan
• $30
• billion;
• 47
• 000
• cuts

[Dejayfever1]

Bankruptcy is your only resort buddy...stop mooching off of us!!! It isn't fair, and it isn't right. I feel bad for the 50,000 people, but if we choose to live in a capitalistic world then this is what happens. Take it or leave. We can't have our cake and eat it too.

[WKaliber1]

they will anyway, cause they're cheaper and better

[MrSharky97]

DAMMIT DEY DERK ER JERBZ !!!!!!!!!

[infinitycj]

Why is GM getting a bailout while the other 6.5 million Americans that lost their jobs were left out in the cold?

What has GM or the labor union done for our elected officials to get this favor?

[TheJTeam2009]

Thanks for being negative...lol

Not a fan of drugs...lol.. And all i'm saying is when people come together we can accomplish a lot as a whole. Lot more than one person on their own. Look at all the people that have lost their job in one factory...If those people came together and said "hey, lets do something" then maybe they can create their own jobs...could be forming a new small business or helping each other out with small businesses or anything. Happened in my town when factory closed.

[TheJTeam2009]

Here's a question... what are we to do if we keep losing large amounts of jobs like this? What are people to do?

Lots are getting on government assistance programs to help out financially during these times... But where does that money come from? deductions off our paychecks..which we're losing fast.. Will there be enough money to keep it all going?

Here's a thought.. What if all the people losing jobs came together and helped each other out, came together and made something happen together??

[JohnR22926]

myko: I guess I missed your point because you didn't state it clearly. I even re-read your initial post to see if you were saying it sarcastically...if you were, it didn't come through at all. Try again.

But, I agree completely that the big guys shouldn't get a bailout while the little guys foot the bill. GM/Chrysler should go into a modified bankruptcy, void their unaffordable union contracts, fire management, and come out smaller, but more viable companies.

[MykolWam]

You completely missed the point. Congratulations on the epic fail. Let me spell it out for you. If the little man doesn't get bailed out when he runs into problems, why should the big companies? Nobody should be getting a free ride. They made their mistakes and they can pay the price. The world will go on without General Motors.

[srxshadow]

General Motors please FAIL already. You make products that suck. This money will not help you make cars that people will want. You should have learned this a long time ago.

[JohnR22926]

myko: Hey! Good idea! While they're at it, they can give me a new home on the lake, free university for my kids (including graduate school), and maybe a check for $1 million (you know, for sundry items).

Ever consider how it gets paid for? No, I'm sure you haven't. In your world there's an infinite amount of wealth that infinitely renews itself and it's as simple as govt gathering it all in and giving it to YOU.