GM lays it out

[Camino LS6]

You made the right choice when you put your confidence in General Motors, and we appreciate your past support. I want to assure you that we are making our best vehicles ever, and we have exciting plans for the future. But we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The U.S. economy is at a crossroads due to the worldwide credit crisis, and all Americans are feeling the effects of the worst economic downturn in 75 years. Despite our successful efforts to restructure, reduce costs and enhance liquidity, U.S. auto sales rely on access to credit, which is all but frozen through traditional channels.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

• One in 10 American jobs depends on U.S. automakers

• Nearly 3 million jobs are at immediate risk

• U.S. personal income could be reduced by $150 billion

• The tax revenue lost over 3 years would be more than $156 billion

Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking for your support in this vital effort by contacting your state representatives.

Please take a few minutes to go to www.gmfactsandfiction.com, where we have made it easy for you to contact your U.S. senators and representatives. Just click on the "I'm a Concerned American" link under the "Mobilize Now" section, and enter your name and ZIP code to send a personalized e-mail stating your support for the U.S. automotive industry.

Let me assure you that General Motors has made dramatic improvements over the last 10 years. In fact, we are leading the industry with award-winning vehicles like the Chevrolet Malibu, Cadillac CTS, Buick Enclave, Pontiac G8, GMC Acadia, Chevy Tahoe Hybrid, Saturn AURA and more. We offer 18 models with an EPA estimated 30 MPG highway or better — more than Toyota or Honda. GM has 6 hybrids in market and 3 more by mid-2009. GM has closed the quality gap with the imports, and today we are putting our best quality vehicles on the road.

Please share this information with friends and family using the link on the site.

Thank you for helping keep our economy viable.

Sincerely,

Troy Clarke

[Intrepidation]

This is what people keep forgetting...it's a loan not free money. And if we're going to lend our tax dollars out, the auto industry is far more deserving than the scummy banks that helped cause the economic mess.

[Camino LS6]

This is what people keep forgetting...it's a loan not free money. And if we're going to lend our tax dollars out, the auto industry is far more deserving than the scummy banks that helped cause the economic mess.

QFT!

[Camino LS6]

I really can't believe that, as a nation, we can be so stupid as to not see the logic of making these loans right the F now!

[Robert Hall]

Yeah, that's why the constant use of the term 'bailout' is misleading... they aren't grants, but loan guarantees...

[cletus8269]

i was just about to post this cause i got this in my email cause my grandparents bought a g6 this year. this is the stuff that needs to be in auto mags and newspapers not emails to just customers

[GXT]

This is what people keep forgetting...it's a loan not free money. And if we're going to lend our tax dollars out, the auto industry is far more deserving than the scummy banks that helped cause the economic mess.

Is it a loan when you lend money to someone who will never pay it back?

"the $25 billion loan needed to bridge the current crisis"

GM is expected to be out of cash by January without a bailout. GM would probably see about 10 Billion of that 25 Billion. They are burning ~2.5 Billion/month. Therefore this bailout would get them to ~May.

What will have changed by then? Nothing. The economy is still headed down. Will you give them another 25 Billion in May to buy them another 4 months and then do it again? Will you question giving money to someone like Wagoner who has been so wrong in the past and is once again being intentionally misleading by understating the situation?

Think about this, based on GM's market cap THOUSANDS of entities could buy them. But no one is willing to put their own money on it. Not even a rumour. But GM wants the government to put YOUR money on it.

[Camino LS6]

Is it a loan when you lend money to someone who will never pay it back?

"the $25 billion loan needed to bridge the current crisis"

GM is expected to be out of cash by January without a bailout. GM would probably see about 10 Billion of that 25 Billion. They are burning ~2.5 Billion/month. Therefore this bailout would get them to ~May.

What will have changed by then? Nothing. The economy is still headed down. Will you give them another 25 Billion in May to buy them another 4 months and then do it again? Will you question giving money to someone like Wagoner who has been so wrong in the past and is once again being intentionally misleading by understating the situation?

Think about this, based on GM's market cap THOUSANDS of entities could buy them. But no one is willing to put their own money on it. Not even a rumour. But GM wants the government to put YOUR money on it.

Have you even looked at the cost of not doing this?