Does President Obama get credit for saving GM?

[OohPooPahDoo]

GM hasn't been 'saved.'

I bet even OP could make GM run for a while if we gave him 50 billion in taxpayer dollars.

How come its OK for the Olympics to get taxpayer dollars but not GM?

 

[SniperFire]

GM hasn't been 'saved.'

I bet even OP could make GM run for a while if we gave him 50 billion in taxpayer dollars.

How come its OK for the Olympics to get taxpayer dollars but not GM?

You are one ignit mofo.

 

[zeke]

Pisses the righties off that, here in the state of Ohio (swing state) UE numbers are much better and going down and every person in the state that works in or for the automobile industry, at least appreciates that they still have a job.

Kasich has turned Ohio around - just like he said he would.

Kasich admits that not losing the auto jobs in Ohio was a big part of the recovery under way. Seeing as how you know so much about the state I live in, just what is it that you think Kasich has done that turned things around?

Still pisses people like you off that a good portion of auto workers will vote Obama. And in a swing state, that hurts.

 

[zeke]

On a side question. Why is it ok to give farmers welfare for the drought (thereby "bailing" them out) but not ok to do that with an industry? And of course, most farmers here in Ohio are staunch repugs, lining up for their welfare. How hypocitical can you get?

The market is the market. If it don't rain it don't rain. Why should my tax dollars go to farmers who didn't buy crop insurance. Or who did buy crop insurance and still want the Feds to give them money.

Hey Snipper. Is it ok to bail out farmers?

 

[Katzndogz]

Question is does obama get credit for sending GM jobs to china and Mexico?

Finland counts too. And don't forget that "partnership" with Fiat of Italy.

 

[zeke]

Or is it that most farmers vote rethug, thereby making it ok for them to recieve their welfare.

 

[Procrustes Stretched]

Or is it that most farmers vote rethug, thereby making it ok for them to recieve their welfare.

 

[EriktheRed]

Does President Obama get credit for saving GM?

Not from the wingnuts, but I'll bet a lot of voters in MI and OH give him credit.

 

[OODA_Loop]

Farm "welfare" + labor = benefits the common good.

Social welfare = the common good - labor which benefits the individual.

 

[Remodeling Maidiac]

If he gets credit for that then he also gets credit for taking a bad economy and trashing it beyond recognition

 

[EriktheRed]

If he gets credit for that then he also gets credit for taking a bad economy and trashing it beyond recognition

Except he didn't.

 

[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

yep GM is still there....even with all the economic troubles all over the world.

saved: GM, Ford Report Lower July U.S. Vehicle Sales

still here: July sales strong overall, but Ford and GM slide - Bottom Line

yep saved: General Motors Earnings Preview 2Q 2012: Opel Drags Margins, And EPS Down - Autos & Trends

yeah, Obama saved GM: GM posts $1 billion Q1 profit, dragged down by Europe

now it's up to the American Marketeers to do their fucking jobs

 

[Procrustes Stretched]

If he gets credit for that then he also gets credit for taking a bad economy and trashing it beyond recognition

the economy is fine, it's the Housing market that is in the toilet.

American financiers laughed all the way to their bailed out banks

 

[Remodeling Maidiac]

If he gets credit for that then he also gets credit for taking a bad economy and trashing it beyond recognition

the economy is fine, it's the Housing market that is in the toilet.

American financiers laughed all the way to their bailed out banks

If you stopped cooking fries at McDonalds long enough to turn of bsnbc and speak to business owners you would see the stupidity of your position

 

[rdean]

Does President Obama get credit for saving GM?

Not according to Mitt Romney. According to Mitt, he's the one that should get the credit.

 

[Desperado]

Obama will mandate that everyone will own a GM vehicle or they will have to pay a fine.

Of course Obama will not get credit for saving GM, nor does he deserve it.
The Taxpayers are still in the hole for the bailout. GM should have filed bankruptcy and reorganized. Until the taxpayers are off the hook than this is not over.

 

[tjvh]

Does President Obama get credit for saving GM?

Not according to Mitt Romney. According to Mitt, he's the one that should get the credit.

Actually, since 7 out of 10 GM cars are built overseas... It is China who should get most of the credit.

 

[FA_Q2]

On a side question. Why is it ok to give farmers welfare for the drought (thereby "bailing" them out) but not ok to do that with an industry? And of course, most farmers here in Ohio are staunch repugs, lining up for their welfare. How hypocitical can you get?

The market is the market. If it don't rain it don't rain. Why should my tax dollars go to farmers who didn't buy crop insurance. Or who did buy crop insurance and still want the Feds to give them money.

Hey Snipper. Is it ok to bail out farmers?

By your tone, I would guess that you think it is not ok. Somehow you feel different when it comes to the auto industry. Same way that I bet you are against big oil and the asinine amount of government money they receive but somehow have no problem with green energy pet projects.

News flash, none of them are okay. Your damn right that the government should not be giving the farm industry taxpayer dollars, that's not the purpose of the government but then again, I do not have a problem with consistency. You on the other hand....

 

[Procrustes Stretched]

1979 Auto Bailout
Realizing that the company would go out of business if it did not receive a significant amount of money to turn the company around, Iacocca approached the United States Congress in 1979 and asked for a loan guarantee. While some have said that Congress lent Chrysler the money, the government, in fact, only guaranteed the loans. Most observers thought this was an unprecedented move, but Iacocca pointed to the government bailouts of the airline and railroad industries, arguing that more jobs were at stake in Chrysler's possible demise. In the end, though the decision was controversial, Iacocca received the loan guarantee from the government.

Lee Iacocca

What Was The Chrysler Bailout? - Political History: The Chrysler Bail Out

------------------

The Chrysler Bail-Out Bust
By James K.

If it all seems too good to be true, it is because it isn't true. The popular version of the Chrysler bail-out is simply a fairy tale. The bail-out is a bust. Closer scrutiny of it reveals that the "great success" rests on a bedrock of myths and half truths.

The Chrysler Bail-Out Bust
----------------------------------

Romney's grim prognosis, before GM and Chrysler took the aid, is in stark contrast with the turnaround that followed. Last week GM reported a record profit for 2011, two years after the company's near-collapse, and said 47,500 union workers will get $7,000 profit-sharing checks, the most ever.

Despite the bold headline - now making headlines of its own - Romney laid out some nuanced ideas, including substantial federal aid.

He called for the government to guarantee post-bankruptcy financing and to back up warranties so people would not be afraid to buy cars from the fragile companies. And he proposed a fivefold increase in federal research spending on energy.

Politics | FACT CHECK: Artful swerves on the auto bailout | Seattle Times Newspaper
---------------------------

 

[Wiseacre]

I'd feel a whole lot better about it if he hadn't fucked over the bondholders. The way the unions came out of it ahead of the bondholders makes it look suspiciously like favoritism. Was there a better way?