Thread: Chevy Volt

Originally Posted by Bluesguy

The boy industrialist once again shows his incompetence.

hey now, be nice.

Bush on auto bailouts: 'I'd do it again'



It has become one of the rare things that binds the two men, the controversial automotive bailout that was begun by former President George W. Bush and completed by his successor, President Barack Obama. The latter defended his actions during the recent state-of-the-union address, during which he declared “The U.S. auto industry is back.” His predecessor used a meeting of the nation’s auto dealers to defend his own actions, insisting he had no other choice but to completely sink the American economy. “I’d do it again,” proclaimed Bush, speaking to the annual convention of the National Automobile Dealers Association.

The bailout, which ultimately totaled $85 billion, was originally begun during the waning days of the Bush administration. With a specific rescue effort rejected by Congress, the former Commander-in-Chief decided to tap into a separate, $700 billion fund Capitol Hill did approve for the bailout of Wall Street and the banking industry. “Sometimes circumstances get in the way of philosophy,” said the ex-president, during his speech in Las Vegas, referring to his normal stand in favor of free trade. “If you make a bad decision, you ought to pay,” he said, referring to the collapse of both General Motors and Chrysler. But Bush also noted that coming on top of the failure of Lehman Brothers, the meltdown of the banking industry and the collapse of the housing market, a painful shift in policy was needed.

“I didn’t want there to be 21 percent unemployment,” he stressed, echoing forecasts at the time that the loss of GM, Ford and the automotive lenders also covered by the bailout could lead to the loss of 1 million jobs. The former president has kept a low-key profile since leaving office in January 2009 – though he did call the bailout “the only option” in his 2010 book, “Decision Points” — leaving his successor to field much of the criticism. In that book, the 43rd President argued that, “The immediate bankruptcy of (Chrysler and GM) could cost more than a million jobs, decrease tax revenues by $150 billion and set back America’s Gross Domestic Product by hundreds of billions of dollars.”

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Originally Posted by justoneman

Is it my imagination or am I lately hearing and seeing a lot of Chevy volt commercials? When it was being introduced they did not advertise it so very much but now... It looks like GM is doubling down on it Good idea for GM?

I think the Volt is going to struggle, considering Nissan's launch of the Leaf, which has no combustion engine, and is 100% electric. Poor decision by GM.

Originally Posted by justoneman

Among the recipients of the grant money are General Motors, receiving almost $250 million; Ford, which will get about $100 million; and Chrysler, which was awarded $70 million. Of the $2.4 billion, about $1.5 billion will go toward batteries with another $500 million for other parts. Around $400 million will be spent on plug-in hybrid and all-electric cars, training technicians, and other associated expenses.

The single largest grant — $299.2 million — went to Johnson Controls for production of lithium-ion battery packs. The second biggest winner was A123 Systems, raking in $249 million for battery projects. Other recipients include subsidiaries of foreign companies and a dozen universities and colleges, to, among other things, “increase consumer awareness.”

Stimulus Grants for Batteries and Green Cars

The analysis say each Volt sold cost the taxpayers over $250,000.

the chevy volt is the old GM

The Volt is the future. It's like when the internal combustion was first used in an automobile or when jet engines were first used in airplanes. It has a long way to go but they had to start somewhere. It doesn't matter what it costs now, for the investment will save mankind trillions in the future. The problem is rightwingers are so short sighted.

Originally Posted by Tedminator

hey now, be nice.

Bridge loans were one thing and no I didn't support Bush doing that. Buying a 50% share of the company and telling the bond holders and creditors to take a hike is another.

Originally Posted by Tedminator

hey now, be nice.

Bush on auto bailouts: 'I'd do it again'



It has become one of the rare things that binds the two men, the controversial automotive bailout that was begun by former President George W. Bush and completed by his successor, President Barack Obama. The latter defended his actions during the recent state-of-the-union address, during which he declared “The U.S. auto industry is back.” His predecessor used a meeting of the nation’s auto dealers to defend his own actions, insisting he had no other choice but to completely sink the American economy. “I’d do it again,” proclaimed Bush, speaking to the annual convention of the National Automobile Dealers Association.

The bailout, which ultimately totaled $85 billion, was originally begun during the waning days of the Bush administration. With a specific rescue effort rejected by Congress, the former Commander-in-Chief decided to tap into a separate, $700 billion fund Capitol Hill did approve for the bailout of Wall Street and the banking industry. “Sometimes circumstances get in the way of philosophy,” said the ex-president, during his speech in Las Vegas, referring to his normal stand in favor of free trade. “If you make a bad decision, you ought to pay,” he said, referring to the collapse of both General Motors and Chrysler. But Bush also noted that coming on top of the failure of Lehman Brothers, the meltdown of the banking industry and the collapse of the housing market, a painful shift in policy was needed.

“I didn’t want there to be 21 percent unemployment,” he stressed, echoing forecasts at the time that the loss of GM, Ford and the automotive lenders also covered by the bailout could lead to the loss of 1 million jobs. The former president has kept a low-key profile since leaving office in January 2009 – though he did call the bailout “the only option” in his 2010 book, “Decision Points” — leaving his successor to field much of the criticism. In that book, the 43rd President argued that, “The immediate bankruptcy of (Chrysler and GM) could cost more than a million jobs, decrease tax revenues by $150 billion and set back America’s Gross Domestic Product by hundreds of billions of dollars.”

more..

Yep Bush was doing a dumb thing to have given a loan of 85 billion to bail out the automakers. No doubt about it. I hated it then and I hate it now. That was money thrown away.

Originally Posted by justoneman

Yep Bush was doing a dumb thing to have given a loan of 85 billion to bail out the automakers. No doubt about it. I hated it then and I hate it now. That was money thrown away.

No, it wasn't thrown away. It was an investment. The 4 trillion spent on the wars was thrown away.