Does President Obama get credit for saving GM?

[Procrustes Stretched]

Does President Obama get credit for saving GM?
Here is an old thread OP. Started out fine...

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'?

I don't have the latest stats handy, but the conversation can go forward as is: Did Obama save GM and does he deserve credit, and if not, why not?




note: old links broken or..

anyway: GM Profit Rises to $1.54 Billion, Plans IPO Up to $16 Billion - Bloomberg

 

[The Infidel]

It would be nice if they were actually a success story, but then again, it was destined for failure from the start.

 

[eflatminor]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

 

[Procrustes Stretched]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

The Volt? How is GM doing?

 

[Procrustes Stretched]

It would be nice if they were actually a success story, but then again, it was destined for failure from the start.

Are bailouts or bankruptcy considered failure? Lee Iacocca? Donald Trump?

 

[Procrustes Stretched]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

Did bondholders in general, suffer during the economic crisis of 2007?

 

[Firehorse]

Obama gets credit for GM when he gives Romney credit for Staples and the many company's he 'saved'

 

[eflatminor]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

The Volt? How is GM doing?

I would hope pretty well after getting nearly $50 billion of other people's money. Christ!

The point is, I don't care how they're doing. That's a concern for GM's employees, business partners and stakeholders. They should have faced bankruptcy just like anyone else. It was a gift to unions, a butt fuck for bondholders and taxpayers.

 

[The Infidel]

It would be nice if they were actually a success story, but then again, it was destined for failure from the start.

Are bailouts or bankruptcy considered failure? Lee Iacocca? Donald Trump?

Yes....


But one is the right way, and the other is the wrong way.

We the taxpayers should not be stuck holding the bag on this... the unions should pay for what they did, and GM should pay for getting in bed with them.

Any grade school student could see it is all unsusatinable in the long run.

The union goons are in for the short term.

 

[Procrustes Stretched]

Obama gets credit for GM when he gives Romney credit for Staples and the many company's he 'saved'

I was unaware President Obama ever refused to give Romney credit for Staples or any other Bain success story. Could you please point to a credible and reliable source where you can back up your accusation?

And, are you saying President Obama saved GM, but you refuse to give credit where credit is due because of some petty political argument?

 

[eflatminor]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

Did bondholders in general, suffer during the economic crisis of 2007?

Non Sequitur. What happen to those bondholders had nothing to do with the economic climate at the time. It was a clear violation of contract law.

 

[Procrustes Stretched]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

The Volt? How is GM doing?

I would hope pretty well after getting nearly $50 billion of other people's money. Christ!

The point is, I don't care how they're doing. That's a concern for GM's employees, business partners and stakeholders. They should have faced bankruptcy just like anyone else. It was a gift to unions, a butt fuck for bondholders and taxpayers.

How many corporations in US History have been bailed out with other people's money? Do you consider them all failures, or do you stand up and say GM is an anomaly in American business?

 

[eflatminor]

The Volt? How is GM doing?

I would hope pretty well after getting nearly $50 billion of other people's money. Christ!

The point is, I don't care how they're doing. That's a concern for GM's employees, business partners and stakeholders. They should have faced bankruptcy just like anyone else. It was a gift to unions, a butt fuck for bondholders and taxpayers.

How many corporations in US History have been bailed out with other people's money? Do you consider them all failures, or do you stand up and say GM is an anomaly in American business?

I'm saying NO business should ever be bailed out with taxpayer money.

Is there an enumerated power to bailout union friendly businesses that I missed?

 

[Procrustes Stretched]

It would be nice if they were actually a success story, but then again, it was destined for failure from the start.

Are bailouts or bankruptcy considered failure? Lee Iacocca? Donald Trump?

Yes....

But one is the right way, and the other is the wrong way. We the taxpayers should not be stuck holding the bag on this... the unions should pay for what they did, and GM should pay for getting in bed with them. Any grade school student could see it is all unsusatinable[sic] in the long run.

The union goons are in for the short term.

Challenge: Union goons is a term for Union men who beat up scabs. Name the Union goons you are referring to, please...and how the term applies to the named men.

GM got in bed with the Unions? Where is a credible link for this point?

Are taxpayers holding the bag for things? What if GM folded? What if the suppliers had went out of business? These were the stories back then, if we did nothing. Please, show me where people argued with credibility that allowing GM and others to fail would be good for the tax payers.

Please explain what is the 'right' way and what qualifies as the 'wrong' way and why

 

[The Infidel]

The Volt? How is GM doing?

I would hope pretty well after getting nearly $50 billion of other people's money. Christ!

The point is, I don't care how they're doing. That's a concern for GM's employees, business partners and stakeholders. They should have faced bankruptcy just like anyone else. It was a gift to unions, a butt fuck for bondholders and taxpayers.

How many corporations in US History have been bailed out with other people's money? Do you consider them all failures, or do you stand up and say GM is an anomaly in American business?

As in tax payer dollars?

No....

NEVER!


GM should have done the right thing on their own...just like Staples or any other Bain success story. With private sector money, not tax dollars taken at the point of a gun (I.R.S. will take you straight to jail if ya dont pay too).

 

[Procrustes Stretched]

We should ask the bondholders who took it up the bum that question...or the US taxpayers that still "own" a quarter of the company.

GM should have gone through bankruptcy like any other company that could no longer compete.

But hey, that Volt is sure turn things around...

Did bondholders in general, suffer during the economic crisis of 2007?

Non Sequitur. What happen to those bondholders had nothing to do with the economic climate at the time. It was a clear violation of contract law.

reading lesson definitions: Non sequitur (logic) - Wikipedia, the free encyclopedia

 

[Firehorse]

No, I didn't say GM was saved. I said he could get credit when he gives it.

This is all a mute point after all ... Obama didn't save GM ... Remember, 'if your a success, you didn't do that, someone else did that'

 

[Procrustes Stretched]

I would hope pretty well after getting nearly $50 billion of other people's money. Christ!

The point is, I don't care how they're doing. That's a concern for GM's employees, business partners and stakeholders. They should have faced bankruptcy just like anyone else. It was a gift to unions, a butt fuck for bondholders and taxpayers.

How many corporations in US History have been bailed out with other people's money? Do you consider them all failures, or do you stand up and say GM is an anomaly in American business?

I'm saying NO business should ever be bailed out with taxpayer money.

Is there an enumerated power to bailout union friendly businesses that I missed?

Your opinion(s) is noted and dismissed for a lack of standing.

Edited. As the OP {post #1} states: this very same topic is from another thread where the conversation went south.

 

[WillowTree]

Did he pull the money out of his pockets? No, he did not. He pulled the money out of OUR pockets and gifted the unions with it. I will never own a GM product. EVER.

 

[eflatminor]

What if GM folded?

Bankruptcy protection would have allowed them to restructure. It would have sucked for union members but it would have been legal, moral and not unprecedented for bondholders and taxpayers.

What if the suppliers had went out of business?

No proof that would have been the case.

Please, show me where people argued with credibility that allowing GM and others to fail would be good for the tax payers.

The CATO Institute for starters. You won't find the argument on MSNBC or HuffPo.