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60 days... tick tick tick.
Author: Raine    Date: 04/02/2009 12:26:27

Regarding the presidents request that GM get its act together in 60 days, I am left wondering, how can they do it? Why have they not been doing it and what was the hold-up? Did they not see the movie "Who Killed the Electric Car"? Did they not see Toyota and Honda's sales on hybrids going thru the roof? Did they not hear Americans' calls for more efficient vehicles? Did they not hear the warning about global climate change and overuse of fossil fuels?

How can they turn it all around in 60 days? Maybe this is how:
General Motors Corp (GM.N) has asked for $2.6 billion of low interest government loans to support the development of three new hybrid vehicles, according to a business plan update released on Wednesday.

GM's loan request, which would help develop two spin-offs from its all-electric Chevrolet Volt, raises to $10.3 billion the aid it is seeking under a U.S. Energy Department program designed to support development of fuel-efficient vehicles.

The request for low-interest taxpayer backed loans was made on Monday to the U.S. Treasury Department, GM said. It was the automaker's third request for loans under the program.

It was also the first time GM has confirmed that it intended to move ahead with production of variants of the Volt, a battery-powered car that will carry a small, 1.4-liter engine as a generator designed to kick in after 40 miles. (64 km)
It's a good move in the right direction, and exactly the kind of thing the Administration and most Americans are looking for.

It begs the question: Why so long? Long-time listeners of progressive radio - especially the Stephanie Miller Show - recall Momma doing ads for this elusive "Chevy Volt" We saw ads for it on TV; why isn't it in production yet? If we can put a man on the moon in less than a decade, why can't our American automakers get these cars on the road now? I tire of hearing the excuses about the cost, etc. The technology is there and so is the demand. There are plenty of incentives in the stimulus planned passed by Congress to start getting older, less efficient cars off the road and replace them with hybrids.

People will not buy American autos as they are now, for a few reasons. One is they simply cannot afford to. Between credit availability disappearing and the unstable job market they simply would rather wait until these new efficient vehicles are available - I know we are. I would much rather buy a car like the Volt than a regular gas engine, especially if it means taking on another 60 month loan. Why should we spend money on something we don't want? Why should ANYONE? Once again, I ask: Why aren't American Car makers listening to the demands of the market?

It seems the problem with GM and many other car companies is that they relied too much on the oil industry to tell them what to do and what to produce. Americans - being the free market sorts that they are - chose not to purchase what was being offered. Instead of listening to the public, GM kept throwing good money after bad. I am of the opinion that if American taxpayers are going to bail this company out, they need to produce products that we want. I don't know about you, but I want green efficient cars that help Americans break the habit of fossil fuel usage, AND

I want them made buy UNION WORKERS.

So I hope that we give them this loan, and I hope they've learned a lesson. The market will only correct itself if you listen to the market and not Exxonmobileshell Oil. Get moving GM; if we can get Neil Armstrong on the moon, you can get the Chevy Volt out on the streets a lot sooner than next year. I know you can. You have 2 months to prove you can.

:peace: and
Raine

 

89 comments (Latest Comment: 04/03/2009 02:55:18 by trojanrabbit)
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