The Auto Game, Continued

An out-of-state friend received a letter from GM,asking her to write to her members of Congress in support of the $25-Billion taxpayer loan...here's the text: 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. car makers. 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

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I guess GM is pretty confident that its customers will support it, though then again, what do they have to lose? Here's a suggestion that just might make their plea more believable. Have Mr. Clark and all of the thousand or so employees with the highest salaries put up their homes as collateral toward the loan. If it doesn't get paid back, we get the property. Sure it won't equal $25 Billion (I hope) but it would make a statement.