Pricewheels.com

  • Home
  • | Contact Us |
  • New Cars
  • Used Cars
  • Auto Loans
  • What Car Can I Afford
  • Car News

GM Bankruptcy Will Cost U.S. Government at Least $50 Billion

Research
  • See pricing and all the information you need to pick the right new car.

  • New Cars

  • Used car technical specifications, gas mileage, safety ratings, reviews and more.

  • Used Cars
Extended Warranty
  • Don't get caught off guard by expensive repair bills. Protect yourself today.

  • Get Extended Warranty on Your Vehicle
Get Auto Loan Rates
State:
Zip:
Loan Type:
Loan Amount:

Get New Car Quote
Make:
Model:

Find Car Parts
Year:
Make:
Model:

May 27th, 2009 by Ross Edwards

The U.S. Government will likely own as much as 70 percent of GM when the company emerges from its impending bankruptcy, but will also likely need to pay more than $50 billion to keep the company alive, experts say.

GM’s bondholders sealed the company’s fate today by rejecting an offer to exchange $27 million in unsecured debt for a 10% stake in a restructured GM.  Without the bondholder debt exchange, GM will be forced to declare Chapter 11 Bankruptcy.

According to The New York Times, the U.S. Treasury Department will need to spend at least $50 billion dollars to get GM through bankruptcy.  The actual cost could be tens of billions more than that though, according to Edmunds Inside Line.

With $20 billion already spent on GM and nothing to show for it, does it really make sense to drop another $50+ billion on the company?

Today a coworker of mine posed the question: “what’s that system that’s the opposite of ours? Where the government owns everything?”


Posted in Automotive | No Comments

Comments are closed.


EXTENDED WARRANTY QUOTE

Protect your vehicle with an extended warranty! Get a fast free quote on affordable extended warranties for used and new cars here!

Get an Extended Warranty !

CHECK INSURANCE RATES

Don't forget to factor insurance costs into your research. Get accurate insurance rate information on any vehicle and shop for the best deal.

See How Much You Can Save!

AUTO LOAN QUOTE

Get real price quotes from local dealerships. Don't buy a car without checking the price first! Pit dealers against each other to get the best deal possible!

Explore Your Financing Options!


{*
  • Auto Loan Center
  • Free Auto Loan Quote
  • Auto Loan Calculator
  • Car Loan Rates
  • Auto Rebates & Incentives
  • Auto Loan News
  • Brake Pad Center
  • Buy Brake Pads
  • Types of Brake Pads
  • Brake Shoes
  • Changing Your Brake Pads
  • Air Shock Center
  • Air Shocks
  • Air Bags
  • Load Levelers
  • Air Conversion Kits
  • Air Springs
  • Shock Center
  • Shocks
  • Air Bags
  • Load Levelers
  • Air Conversion Kits
  • Air Springs
*}

New Cars | Finance | Privacy Policy | News Letter | Unsubscribe | About Us | Dealer Program | Affilliate Program | Site Map | Jobs | Do Not Sell My Personal Information

© Copyright 2002 - {$smarty.now|date_format:"%Y"}. PriceWheels, LLC. All rights reserved.

{literal} {/literal}