The Detroit auto makers have a problem. Like BearStearns, MerrillLynch, Lehman Brothers, etc. etc. etc. They need to borrow cash from U.S. government, meaning taxpayers like you and me. And suddenly the U.S. Congress is balking on the 25-billion dollar loans. Course, maybe the Federal Reserve will just crank up another printing press. Not sure Congress could stop that.
There are many reasons for potential buyers to look forward to the Volt. It will be rechargable. It will eventually have a photovoltaic roof to run an air conditioner (while you're shopping in an air conditioned building). For GM's Volt enthusiasts the worst news would be $1.25/gallon gasoline, said one GM spokesman.
"CHEVY VOLT: THE FUTURE IS ELECTRIFYING."
That's the slogan on GM's Volt website. The car is due out in 2010 model year and GM showed off one car recently, saying production is ahead of schedule. Let's hope they have the money to keep the factory going even IF Congress doesn't shell out more of that funny money they seem to be endlessly printing in Washington these days. Or maybe GM can flog itself to a bank and get indirect loans that way?