GM BEGGING Countries for an AUTO BAILOUT! ONE TRILLION DOLLARS

ONE TRILLION equals a full kilometer (.06 of a mile) of a sandy beach 4" thick... GRAINS OF SAND!


1-POLAND-Officials in Poland also are bracing for huge job losses, maybe as many as 10,000 in their auto sector.

2-BELGIUM-GM is also having informal discussions with the Belgian government in Brussels about receiving financial assistance for keeping GM facilities in that country open.

3-SPAIN-GM is also having informal discussions with the Belgian government in Brussels about receiving financial assistance for keeping GM facilities in that country open.

4-GREAT BRITAIN-British Member of Parliament Andrew Miller said there had been contact between GM and the UK government

5-SWEDEN-GM has made contact with the government in Sweden, the home country of GM's Saab brand.

6-GERMANY-Germany is home to GM's biggest European brand, Opel. Discussions and meetings there between the government, suppliers and GM management have been fast and furious

7-HUNGARY-Renault has pulled its company-owned dealer network out of Hungary and plans to do the same in the Netherlands by year-end.

8- Czechoslovakia-Thousands of supplier jobs could be cut in central Europe as the global slowdown in auto production hits the region.

9. FRANCE-Home to Renault/Nissan, the company already has closed about 60 dealerships since 2007 as part of leader Carlos Ghosn's austerity program.

10. CHINA- carmakers are asking for government assistance, but they don't want cash to bail them out; what they seek are new rules

11.JAPAN- is officially in a recession and most all Japanese carmakers have slowed production of most models

TEN REASONS WHY THE BAILOUT IS A BAD IDEA
FULL ARTICLE HERE

Europe Car Sales in Steep Decline!

General Motors saw a sharp drop in sales in Europe
New car sales in Europe fell by 14.5% in October, the sixth monthly fall in a row, said the European carmakers' association, the Acea.
Car sales in Ireland and Spain were the worst-affected, plummeting 54.6% and 40% respectively, in October.
Even in the new EU member states, once a source of growth, overall sales fell 3.3%, despite a 12.3% rise in Poland.
With demand falling fast, manufacturers are temporarily halting production at some plants to cut their costs.
Brake on sales
In western Europe, the number of cars sold totalled 1,034,955, 15.5% lower than the same month last year.

Remember the YUGO car? They are now closing!

Desperate TIMES! Buy one Dodge Ram the other FREE!

University Dodge in Miami (888) 746-2445. ( Someone call to see if this is true) has taken a page out of the Payless Shoes playbook and is offering Buy One Get One on all new Dodge Rams in stock. The dealership in Miami is offering the major incentive in an effort to clear out the existing stock on slow moving pickup trucks.
This isn't the first time a car dealership has offered a BOGO deal on cars. An KIA dealership is almost always running a deal for a free sedan with the purchase of a minivan, but it is the first time I have seen such a deal on a Dodge Ram or for that matter any car manufactured by a Big Three American carmaker. Who knows, maybe a BOGO Bailout is just what they need to bring in some quick cash before they close!


Comments: You will most likely see dealerships do this on a daily basis. Only problem, used car dealerships will have to LOWER their prices, to reduce inventory. Buyers will come to grips that these dealers will be going bankrupt. Will they bite? This may create a glut of cars in the beginning. Once these dealers go into bankruptcy you'll find dealers stuck with cars coming out of their ying yang, just to compete!

United Auto Workers union president STATES LIQUIDATION for GM FORD AND CHRYSLER!

WASHINGTON (AP) - Democratic leaders in Congress decided Thursday to delay a vote to bail out automakers until December, according to officials, and will first demand the Big 3 companies show how the funds would transform their beleaguered industry.

An announcement was expected later in the day, these officials said. They spoke on condition of anonymity, saying they were not authorized to pre-empt a form announcement.
The big auto companies—General Motors Corp., Ford Motor Co. and Chrysler LLC—have been seeking government loans totaling $25 billion to stay in business until spring. Critics want to make sure the companies will use the money to transform their industry into one that is more competitive.
Until Democratic leaders reached their agreement, the bailout had appeared headed for defeat in Congress, with the fate of hundreds of thousands of workers and Detroit's once-venerable car companies in the balance.

Senate Majority Leader Harry Reid, D-Nev., canceled plans for a vote on a bill to carve $25 billion in new loans out of the $700 billion Wall Street rescue fund. The Bush administration and congressional Republicans oppose that plan. They prefer tapping a different source of funds that is earmakred to help the industry manufacture more environmentally friendly products. But using those funds drew opposition from Speaker Nancy Pelosi, D-Calif., as well as environmentalists.

Efforts on a compromise unfolded earlier in the day, and a small group of legislators circulated a proposal to give the industry the funds it needs while guaranteeing that the separate account would not be depleted.
With all sides sensing doom for a Big Three automaker rescue, the finger-pointing proceeded.

White House press secretary Dana Perino on Thursday blamed Reid for not allowing the Republicans' separate auto-aid plan to come up for a vote.

"Unfortunately it looks like Sen. Reid just wants to pick up his ball and go home for the next two weeks—two months—for vacation," she said.

Pressed on what the White House would do if Congress can't agree on a plan to rescue the automakers this week, Perino said she thought lawmakers would return after the Thanksgiving holiday for an emergency legislative session if an auto company was in imminent danger of collapsing.
"I can't imagine a scenario where they wouldn't come back, unless the answer is that they just don't care. And if that's the case, then the American people ought to know that."

Congressional Democrats countered that the Treasury Department already had the power to grant emergency funds to the automakers, but the Bush administration opposed the approach.
The leaders of General Motors Corp., Ford Motor Co. and Chrysler LLC painted a grim picture of their financial position during two days of congressional hearings, warning that the collapse of the auto industry could lead to the loss of 3 million jobs. Detroit's automakers, hurt by a sharp drop in sales and a nearly frozen credit market, burned through nearly $18 billion in cash reserves during the last quarter—about $7 billion at GM, almost $8 billion at Ford and $3 billion at Chrysler. Both GM and Chrysler said they could collapse in weeks.

"I don't believe we have the luxury of a lot of time," GM CEO Rick Wagoner told a House hearing.

Alan Mulally, the CEO of Ford Motor Co., said the company had enough cash reserves to make it through 2009. But United Auto Workers union president Ron Gettelfinger said a bankruptcy could spawn others.

"If there's a Chapter 11 (for) one of the companies, it will drag at least one other with them, if not all of them. And I do not believe Chapter 11 is where it will end. It will go to liquidation," he said ominously.

Automakers ran into more resistance from House lawmakers, who chastised the executives for fighting tougher fuel-efficiency standards in the past and questioned their use of private jets while at the same time seeking government handouts.

"My fear is that you're going to take this money and continue the same stupid decisions you've made for 25 years," said Rep. Michael Capuano, D-Mass.

The stakes are high. The Detroit automakers employ nearly a quarter-million workers, and more than 730,000 other workers produce materials and parts that go into cars. About 1 million more people work in dealerships nationwide. If just one of the automakers declared bankruptcy, some estimates put U.S. job losses next year as high as 2.5 million.

Bailout for GM is COLLAPSING!

WASHINGTON (AP) - Prospects dimmed Monday for enactment of a $25 billion bailout for the faltering auto industry before year's end, as congressional Democrats and the Bush administration seemed headed for a stalemate. Help for Detroit's Big Three, which have been battered by the economic meltdown that has choked their sales and frozen their credit, is falling victim to a partisan fight over where the money should come from.

Senate Democrats said they would press ahead with their plan to carve out a portion of the $700 billion Wall Street bailout to pay for the loans, but aides in both parties and lobbyists tracking the plan acknowledged they did not currently have the votes to do so. The White House and congressional Republicans insist that the automaker bailout money instead come from redirecting a separate $25 billion loan program approved by Congress to help the industry develop more fuel-efficient vehicles. READ ENTIRE ARTICLE HERE

Will a DEPRESSION HIT CANADA TOO?

Well according to Garth Turner the former minister of finance, it does NOT look well.
He claims there will be massive fallout both in the auto industry and housing industry. You basically will not be able to sell your house! CASH WILL BE KING! Read the forcast here:

Garth Turners COMMENTS