Friends,
The political theatre provided by Rick “The Rick” Wagoner of GM, Bob “Orange Apron” Nardelli of Chrysler, and Alan “Why Am I Here?” Mullaly of Ford at this hour seems to have secured their respective companies loan guarantees from the government.
Not TARP money, because the current president doesn’t like that. The money is coming from the fund already set up to help the manufacturers build green cars that run on mermaid spit.
Chrysler, in particular, dodged a bullet with this one. Most of the congresscritters gave Nardelli the what-for about his Cerberus overlords’ unwillingness to pony up more of their money to keep the Dodge Boys afloat. They have a point, but a little loan now should keep them going long enough to file for bankruptcy in February. Hooray?
Oy!
-bob