More Videos
- Will Super Bowl Ad Buzz Generate Sales Buzz?
- Boeing Inspects 787 Dreamliner for Possible Repairs
- Will Toyota Rebound to #1 in 2012?
- What Fueled Record January Auto Sales?
- The Three Year ‘Pinch’ Is Helping New Car Sales
- Ford Earnings Disappoint, Causing New Concerns and Questions for Investors
- Are Ford's Best Days Behind Them?
- General Motors Struggles to Break Out From Uncle Sam's Shadow
- Will Tesla Crack the Range Anxiety Problem?
- Feds Send Message Clearing Chevy's Volt
MOST SHARED
- Yum Brands Profit Rises as China Keeps Growing
- Saudi Arabia Will Not Let Oil Go Above $100: Prince
- After US Oil Snub, Canada Focuses on China
- Gold Steady; Watches Greece Development
- US Crude Prices Rise on Europe Cold Snap
- Japan Reveals Stealth Yen Intervention, Ready to Do More
- Two Firms Flourish in Frenzied MF Global Aftermath
- Rein: When Chinese Tourists Are Not Welcome
- GM Net Income of $10 Billion Isn't 'Crazy': Steven Rattner
- What Plays Tim Seymour Is Watching In Russia
- GM Net Income of $10 Billion Isn't 'Crazy': Steven Rattner
- After The Super Bowl: Who’s Buying?
- S&P 500 Earnings: Industrials Lead
- Will Super Bowl Ad Buzz Generate Sales Buzz?
- 5 Stocks That Pay You Twice as Much as Treasurys
- Running Robo-Settlement Numbers
- ‘Goodnight iPad’ — A Bedtime Story for Adults
- 4 Reasons Why Google Should Buy Twitter
- Zynga Set to Ride on Facebook's Coattails: Analyst
- China Growth Could Halve If Europe Crisis Worsens: IMF
- Traders Watch Bernanke for Any Shift After Jobs Report
- Japan Chooses Stealth Intervention to Curb Yen Rise
- Why Oil Prices Aren't Rising Despite Sanctions on Iran
- Investors Wary of Stocks Are Flocking to Junk Bonds
- After US Oil Snub, Canada Focuses on China
- Saudi Arabia Will Not Let Oil Go Above $100: Prince
- Investors Jump Back Into ETFs to Join in Stock Rally
- His and Her Valentine Gifts
RSS FEED
Behind The Wheel
Text Size 
GM's Wagoner: He'll Get What He Needs From Washington
 |
AP Rick Wagoner |
] and Chrysler. No CEO likes to ask for Federal aid. But this is not the big pressure cooker facing Wagoner. Let me spare you from wondering if Wagoner will get the $5—$10 billion in federal loans he is seeking. He'll get it. And while lawmakers will publicly proclaim everything must be done to limit the loss of jobs caused by a merger, they know thousands will lose their jobs and there's not much that can be done.
Washington doesn't have much of a choice but to give GM the money. If it doesn't, there is a very real possibility Chrysler and GM slide toward bankruptcy. That ultimately would be even worse than spending $5-10 billion now and hoping GM can Save some of Chrysler's 44,000 workers. It's the only play Washington has.
So in many ways, Wagoner's personal push for loans is not a tough sell. He'll get the money and once he does, then the real pressure starts. Then he and his top lieutenants will have to move quickly to integrate Chrysler.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes
