house clears $25 billion for automakers

http://www.ft.com/cms/s/0/83bfe68c-8a8f-11dd-a76a-0000779fd18c.html

On the bright side, at least this should fund a lot of much needed EV and battery R&D.

On the bright side, at least this should fund a lot of much needed EV and battery R&D.

That isn't going to go to a companies like Telsa.

On the bright side, at least this should fund a lot of much needed EV and battery R&D.
the big 3 spent plenty of lobby money to purchase congress critters, there is no way they'd let any of that money go to smaller groups like tesla

the big 3 spent plenty of lobby money to purchase congress critters, there is no way they'd let any of that money go to smaller groups like tesla

:( Sad but true

Yay!, more Aveo clones!. One for Caddy another for GMC ooooooo and one for Saturn another for SAAB.....

On the bright side, at least this should fund a lot of much needed EV and battery R&D.

Too bad virtually none of that battery production will be performed in the US. A123 got a $30M grant to build a battery for one of the US DOE-sponsored battery programs, and then turned around and built a $60M battery plant in China. That didn't sit well with me.

well I guess on the bright side its a loan not a bail out, or investment... Hopefully this will do the trick? Ive wondered if one soloution would be working with For the Govt to hire Ford and GM to produce and or develop alternative like the Volt, even covering previous development costs for such projects already completed, or refine fuel efficient vehicles but then slingshot those vehicles removing govt support once out and let them sink or swim on their own in the market.

Too bad virtually none of that battery production will be performed in the US. A123 got a $30M grant to build a battery for one of the US DOE-sponsored battery programs, and then turned around and built a $60M battery plant in China. That didn't sit well with me.

Swell. :rolleyes:

The government should make some stipulation in getting the money that it must be spent within the country, i.e. opening plants here and putting more people back to work.

the big 3 spent plenty of lobby money to purchase congress critters, there is no way they'd let any of that money go to smaller groups like tesla

i really don't think a company planning to sell their electric vehicles at or above 100k is going to need help form the guberment. besides, isn't that what investors are for?

i really don't think a company planning to sell their electric vehicles at or above 100k is going to need help form the guberment. besides, isn't that what investors are for?

Telsa is playing on making a $40,000 dollar 4 door sedan.(plant is being built right now.) Followed by an entry level car.

Senate has also approved, Prez needs to sign.

Senate has also approved, Prez needs to sign.

Well, the good news is that we won't need to fill this forum with bankruptcy news all next year. That event now gets pushed down the road until early next decade.

It'd be interesting to track this money and see how it's actually spent.

It'd be interesting to track this money and see how it's actually spent.

Yup. Maybe I'll write my representatives and ask them to make sure at least $1B of that gets spent on Alpha/6th gen Camaro. ;)

$10-12 billion should get GM through another year as long as they dont put any money into the VEBA fund.

Too bad virtually none of that battery production will be performed in the US. A123 got a $30M grant to build a battery for one of the US DOE-sponsored battery programs, and then turned around and built a $60M battery plant in China. That didn't sit well with me.

I think its interesting that CEOs outsource hard labor (raw material), then the factories, and now their bad decisions are catching up with them we help them.

Too bad virtually none of that battery production will be performed in the US. A123 got a $30M grant to build a battery for one of the US DOE-sponsored battery programs, and then turned around and built a $60M battery plant in China. That didn't sit well with me.

You know Eric, that's the type of stuff that makes me sick.

What makes me even sicker is when someone gets on here and talks about tax cuts creating jobs. If I sound a little harsh tonight, about an hour ago I saw one of those commercials stating that the US has the highest business taxes of any industrialized country and actually advocates people to write their representative.

What is completely repulsive about that commercial is it convienently fails to mention that these countries utilize high personal taxes (far and away higher than we pay here in the USA) to fund the nation. The thing that really blows my mind is that there are more than plenty of people who even now with the economy pretty much in meltdown actually still buy that garbage.

Lately, between the dollar in the toilet, oil companies making mindboggling profits selling less fuel though both oil and fuel is plentiful, the fact that instead of paying our way and be done with it, we'd rather pay China for paying our way and still have to pay them back anyway, people not understanding that if wall street fails, everyone's retirement and even life savings is in jepordy, and the rest of the other garbage that's happened because people are more intrested in the BS conservative & liberal labels, I've been really wondering how long before everything falls in.....

.....that Australian residency visa and that Canadian drive to increase it's population are both looking better everyday. :think:

So, finally the big 3 get some help.

Lot of good it will do them with credit freezing up.

They still won't be able to move product.

And credit is freezing up, my co worker just got denied college loan money for the kids.

They got a loan for the fall (now) and just got nuked on the spring aid.