Did Obama Save GM?

Discussion in 'Economy' started by Dante, Aug 12, 2010.

  1. Dante
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    Dante On leave Supporting Member

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    Did Obama Save GM?
    GM Profit Rises to $1.54 Billion on Auto Sales Gains

    GM Profit Rises to $1.54 Billion on Auto Sales Gains - BusinessWeek

    For the longest time we have been subjected to wild rants about Obama 'taking over' GM. Socialism on the march!

    Now it looks like GM is on the road to becoming a profitable private entity again -- thanks to Obama.

    Does Obama get credit?

    ---

    “Last year GM was shutting down plants when they filed” Chapter 11, said Wall, who is based in Grand Rapids, Michigan. “This summer, most of its U.S. plants were running full out.”


    btw, is the above quote an example of the new generation of editors being dumbed down? who is 'Wall'?
     
    Last edited: Aug 12, 2010
  2. hjmick
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    hjmick Gold Member

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    Did GM need saving?

    Ford seems to be doing just fine, even better than GM, and they didn't take a dime...

    How's Chrysler doing? Didn't they take government money? Why does no one ever mention Chrysler?
     
  3. Dante
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    Dante On leave Supporting Member

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    Allow me to answer in this way:

    1) Did GM need saving?

    Not all questions are valid when put into a broader context like, what was being said a year ago about the future of GM and the American Automotive Industry.


    2) Ford seems to be doing just fine, even better than GM, and they didn't take a dime...

    Did Ford need assistance? Where they in trouble -- in danger of going out of business?

    3) How's Chrysler doing? Didn't they take government money?

    Is Chrysler doing badly? Obama threw them a lifeline. Were they in such bad shape the money didn't help? Did the titans of industry run Chrysler into the ground?

    ---

    Then there is this nugget of wingnuttery:

    ?) Why does no one ever mention Chrysler?
    :rofl:
    No one ever mentions Chrysler? What's the matter, is FOX News boycotting Chrysler?
     
    Last edited: Aug 12, 2010
  4. haileydavey
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    haileydavey BANNED

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    Sure he can have the credit. What is going to happen with the over $900,000,000 which is the government's share? Also how much was the amount the of the bail out? Has the government broken even yet? How much of the debt was forgiven? (When you file for bankruptcy you usually do not have to pay everyone back the full amout.) Are we as a country going to benefit from this? How much of the profit was from cash for clunkers? If we take away those numbers does it still look good? There are a lot of numbers missing here.
     
  5. 007
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    007 Charter Member Supporting Member

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    obama shouldn't get credit for shit. 60% of GM, Government Motors is still owned by the government, which bailed them out with TAX PAYERS MONEY. They should have been left alone to fail. They should have gone through with the bankruptcy, reorganized, broke the death grip the unions had on them, and reemerged as a new, stream lined, better organized, leaner, meaner company with NO DEBT TO ANYONE.

    Fuck obama, and all these moronic bail outs.
     
  6. GWV5903
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    GWV5903 Gold Member

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    Couldn't of said it better!!!! :clap2: :clap2: :clap2:
     
  7. hjmick
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    hjmick Gold Member

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    I'm not sure why you would consider me a "wingnut" for asking a question but okay...

    You know, some times businesses fail. Sometimes they don't. Sometimes they fail and then come back. But, in my opinion, it is not the responsibility of the government to bail them out, no matter what their size. I was opposed the auto bailouts now, I was opposed to the Chrysler bailout of 1980, and I was opposed to the Bush bank bailout.

    Oh, and I don't watch Fox News, well, except for Red Eye.
     
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  8. haileydavey
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    haileydavey BANNED

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    Did you leave out the Airline bailout on purpose? I was against that myself but you may not have been. I agree with the rest of your statement though except I do not watch Red Eye.
     
  9. Dante
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    Dante On leave Supporting Member

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    hmmm, so has GM been socialized or saved or both? Has the American Automotive Industry as a whole benefited? You know -- all those smaller companies that live off of and depend for their very existence on, companies like GM?
     
  10. Dante
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    Dante On leave Supporting Member

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    please take you meds
    :eusa_hand:
     

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