scarier yet, this country stays alive moral-wise on small businesses opening up, and i don't think anyone in their right mind would open a retail business for awhile, and even walmart's not doing great and to boot, keeping other businesss discouraged, so if this happens, and all these big businesses go down, what then? with nobody able to find places to work and sell products, and nobody affording to buy, and not pay taxes that will enevitably go up, with washington having no concern, what so ever it seems, and tent cities on the rise, how can this be turned around? someone told me the forclosure rate is out of control, so, are we all gonna be renters?

I'd like to know which small businesses would prosper by bailing out GM? Would the little hardware store on the corner benefit or would the large chain that extended GM credit benefit.

Just because you make a good burger?,,,,,,

Doesnt make you a good business man.
Obviously...

just a taste of what's coming......

California Fails To Pass New Foreclosure Law
Posted on February 11th, 2008 by saman
The Democrat Senate Leader of California Mr Don Perata was the sponsor for a bill aimed at reducing the numbers of vacant houses resulting from foreclosure. This bill was narrowly defeated but has raised heated debate on both sides of politics.

California foreclosure rate is among the top five in the country, and the actual number of foreclosures is the largest in the country. The high foreclosure rate has led to many houses being abandoned and sitting vacant for extended periods of time which in turn attracts squatters and vandals and reduces the property values of the surrounding properties.

Mr Perata is quoted as saying “The purpose of this bill is very simple: To keep people in their homes. It’s not unheard of to see three to four houses going to seed in a neighbourhood, which affects everyone else.”

The bill if passed would have seen lenders being fined $1000 a day if they did not maintain the vacant properties and would have required them to give at least four month’s notice to borrowers before increasing mortgage payments by ten percent or more.

The bill which was submitted as urgency legislation would have needed a two thirds majority to pass. The bill failed to reach this majority and narrowly failed with a vote of 26 for and 14 against.

Republican opponents of the bill stated that it may actually worsen the current housing market situation by scaring lenders away from California. Other Republican opposition stated that the Legislators should focus on predatory lenders who enticed buyers to take out loans that they could not reasonably be expected to afford and also on those borrowers who fraudulenty lied about their incomes in order to qualify for and obtain larger loans than they were reasonably entitled to.

Mr Perata did agree that these forms of fraudulent activity and unrealistic financial planning did play a role in the foreclosure rates, but he went on to argue that consumers affected by the subprime mortgage market melt down need protection from factors such as the constantly rising interest on adjustable rate loans and from balloon payments.

Democrat Senator Mike Machado from Sacramento Valley which has been severely affected by these problems plans to rework the bill and reintroduce it. He hopes to be able to remove the legal hurdles the bill created for the banks. Even if these measures appease the objections from the other side of the political spectrum and the reintroduced bill passes with the cooperation of the Assembly the bill would not reach the Governor before fall.

Last week parallel legislation was introduced into the state Assembly, this legislation if passed would mandate that potential borrowers are able to afford the mortgage, along with property taxes and insurance.

I think it was cancelled driven!

Oh, the burger joint deal is still a couple months away.
I'm a General Contractor.
Must be a better business man than GM. My profits are up, I have no creditors, my bills are paid in a timely fashion and I'm not begging for a Gov handout.

Let GM fail or offer them to China at a discounted rate.

Buy another brand.

[Who said anything about 100%??

Now, you are assuming. Or are you making accusations?
Everything I do is above board and yes, taxes are paid. I don't have that hanging over my head like those in Obama's Staff.
But, this is about GM, their greed and mismanagement.

I say, let 'em fall.
Everybody bail out from GM while you can.
Let the CEO's eat the lemon.

Have a good day!

GM moved their engine plant to Mexico but buys four cylinder engines from Korea and Japan. Their small car line is made in Canada and Japan or Korea and now China. They outsource just as much if not more!

a bit too much personal info posted here
yikes

I know aye.
That was a sweet ride.

GM recalling 1.5M vehicles over potential fires
AP

WASHINGTON – General Motors Corp. is recalling 1.5 million vehicles because of potential engine fires.

GM says there have been no reports of any fires or injuries.

Some of the recalled vehicles are no longer in production. The recall includes the 1998-1999 Oldsmobile Intrigue, the 1997-2003 Pontiac Grand Prix, 1997-2003 Buick Regal, and the 1998-2003 Chevrolet Lumina, Monte Carlo and Impala.

It involves vehicles with a 3.8-liter V6 engine. The government says drops of oil could fall into the exhaust system and cause a fire in the engine.

GM spokesman Kerry Christopher says it was a precautionary measure for consumers.

I saw a Toyota on fire along the Interstate the other day though!