General Motor Bankruptcy Looms

The filing also disclosed that GM will not repay the loans it has already received from the government or much of the additional federal aid it will get as part of the bankruptcy.

The government has already given GM $19.4 billion to fund operations and cover losses this year, and total help is expected to exceed $50 billion.

GM will pay back $8 billion of that sum. The government will also receive $2.5 billion in preferred shares of GM that pay a dividend and are more similar to a loan than stock.

from Major GM bondholders OK revised debt-equity deal, CNNMoney.com, May 28, 2009

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So that means we the taxpayers paid $40 billion dollars for GM to survive 6 more months. Okay, so WHERE DID THAT MONEY GO? After all, GM is still going bankrupt. The company did not avoid that inevitable outcome.

The Latest Unemployment Figures

It's sad to see two of the states I have lived in make it to this list. Unlike the other states listed here, California has a very diversified job base. It makes me wonder if California's woes are cause by the political structure rather than by natural resources or the decline of specialized industries.

You'll Never see 15 Minutes

You cruel, cruel programmers. The new Survival Mode on Left 4 Dead is intended to force a team to work together before they are munched by the zombie horde. Shown below is a picture from the developers indicating why a team will never live to see 15 minutes.

We have already seen 2 tanks existing simultaneously on the map, and we've only made it to ~6 min on a good night of gaming. By the 15 minute mark, there will be a new tank every 5 seconds or less.

That's just mean.


Here's the blog.

You Shoulda Let them go Bankrupt

CNN Money reports that Chrysler will NOT be repaying any of the $7.5 billion that the company received. So the U.S. government gave the company $7.5 billion from January until now, and it only kept the company alive for 5 months.

Do I hear protests? I feel like I'm getting robbed.

The link to the article.

How a House is like a Wedding

Stumped? I have found that there are no upper bounds of desire for either the home buying experience or the wedding. There's always more things you can wish for and to add.