• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Mullooly Asset Management

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

  • Our Fees
  • About us
  • Schedule a Meeting

General Motors : A Private Company Receiving Government Money?

September 27, 2008 by Thomas Mullooly

Lost in the bailout mess comes this bit of interesting news for the automakers.

The Wall Street bailout has taken most of the headlines, so you may have missed this: a bill set to be passed by Congress includes $25 billion in loans for General Motors, Ford and Chrysler, as well as several of their suppliers.  And keep in mind, these are loans — loans that will be repaid.  But this is money that is available now at low interest rates, and they’ll have five years before they need to start repaying.

This is a pretty interesting development.  Chrysler was taken private last year (by Cerberus Capital Management), so this essentially becomes government loans to a private company.  And, because Chrysler is now privately held, they no longer report sales figures or earnings.  But it’s estimated that Chrysler is taking a bigger hit than Ford and General Motors.  These companies are so far behind the curve, it’s hard to see how they will catch up.  General Motors CEO Rick Wagoner believes the automakers should be able to put its portion of the loan package toward new technology.

One area that may holds significant promise are the extended-range electric vehicles (you know, electric cars).  These are cars that are produced with lithium ion automotive battery packs.  And when it comes to recharging the battery, it will be designed to use a common household plug.  The first car engineered in this fashion is the Chevy Volt, which will likely be available starting in 2010.

Never miss a post...and we deliver!

newsletter mailman

Get our updates delivered right to your inbox. Sign up today!

Success! Now go and check your email to confirm your subscription.

There was an error submitting your subscription. Please try again.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

Filed Under: Asset Management, Stock Market Comments

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

Footer

2052 NJ-35, Suite #203
Wall Township, NJ 07719
Phone: (732) 223-9000
Fax: (732) 223-9600
Email: support@mullooly.net

  • Privacy Policy
  • Disclosures and Legal Disclaimers

Useful Links

  • Contact Us
  • Client Login
  • Pay Bill Online
  • About us
  • Our Fees
Text Example

The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Resource Center

  • Videos
  • Podcasts
  • Blog

Copyright © 2021 · Design by :- Eliza Jack