Tag - bailout

GM Contingency Plea: Prelude to a Drinking Game

Story by Adam Barrera

Last week, in front of Congress and C-SPAN, Detroit forgot to bring their collective homework to class. As if a governmental grounding wasn’t enough, socially clairvoyant Saturday Night Live filled in Detroit’s blanks with a parodic infinite timeline of exorbitant quarterly bailouts. Today, the Detroit Three’s real roadmaps robbed the SNL skit of truth. Ford isn’t even asking for cash up front, just access to a loan in case the downturn worsens. Chrysler needs $7 billion by the 31st to stay in business — and isn’t speculating beyond that figure. Unlike SNL’s parody, the General asks for just two tiers of assistance in the most detailed — and realistic — outlook offered by the industry.

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Lord Byron — Shove Your Notes up Your Errata, Mr. Morford

GM Logo

 

Detroit Must Die. That was the title of a column written by Mark Morford of the San Francisco Chronicle’s SFGate (dot com). Those terms should be enough for you to google your way into that abyss of idiocy if your self loathing compels you to do so. Originally, this week’s column was going to be an educational one. I was going to point out the impacts, both far-reaching and highly localized, of a hypothetical Chapter 7 collapse of the country’s largest auto maker. And then I got a link to Mr. Morford’s article. And I was disgusted.

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