General Motors Is Headed For Bankruptcy -- Again

[bigrebnc1775]

Another obama success.

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

General Motors Is Headed For Bankruptcy -- Again - Forbes

 

[naturegirl]

Another obama success.

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

General Motors Is Headed For Bankruptcy -- Again - Forbes

The first of the "government takeover". There will be more, Capitalism is bad.

 

[LogikAndReazon]

Nationalization of key industries, price caps, quotas, staggering not for profit losses and govt oversight is clearly the way to prosperity...............lol

 

[bigrebnc1775]

I thought the American tax payer no longer owned GM what happen, and where's Chris? or ed the liar?

 

[Old Rocks]

Ah yes, GM alive, Bin Laden dead. Both of which the 'Conservatives' hate.

 

[NYcarbineer]

Ford motors stock has fallen by the same proportions.

 

[Jarhead]

Ah yes, GM alive, Bin Laden dead. Both of which the 'Conservatives' hate.

lol...another one who here's the rhetoric and regurgitates it without putting any thought into it.

 

[Jackson]

Ford motors stock has fallen by the same proportions.

But the taxpayers are standing there holding the bag.

 

[Jarhead]

Ford motors stock has fallen by the same proportions.

so? What does that have to do with anything?

Bailing out GM was a temporary fix and cost us billions strictly for political gain of Obama. Only a fool did not know that the US auto industry could not compete with the world industy overall.

 

[Gadawg73]

The retirement health care costs is what single handedly ruined GM.
Companies can not be expected to play blank check Santa 365 days a year and compete in a world economy.

 

[Gadawg73]

Bailing out GM was not by Obama for political gain. The structuring of the debt WAS for political gain.
1st time in history first in line priority creditors got FUCKED by union thugs.
Old ladies, widows and retired folks be damned. The union thugs have to be paid first.
SICK.

 

[LogikAndReazon]

Ah yes, GM alive, Bin Laden dead. Both of which the 'Conservatives' hate.

Thats quite the blue state intellectual slogan.........Impessive indeed, sorta like "hope and change"............... lol

 

[NYcarbineer]

Ford motors stock has fallen by the same proportions.

so? What does that have to do with anything?

Bailing out GM was a temporary fix and cost us billions strictly for political gain of Obama. Only a fool did not know that the US auto industry could not compete with the world industy overall.

It proves that the downturn in auto stocks in the last year and a half is unrelated to the bailout.

Ford didn't get a bailout. Why would need to point these things out to you? Are you that out of it?

 

[Jarhead]

Bailing out GM was not by Obama for political gain. The structuring of the debt WAS for political gain.
1st time in history first in line priority creditors got FUCKED by union thugs.
Old ladies, widows and retired folks be damned. The union thugs have to be paid first.
SICK.

If he werent able to strike a deal that gave the unions the advantage, he never would have struck a deal.

 

[NYcarbineer]

Ford motors stock has fallen by the same proportions.

But the taxpayers are standing there holding the bag.

The taxpayers got a huge revenue boost in the form of the taxes paid by the jobs saved by the bailout.

 

[SniperFire]

Biden’s ‘good friend,’ donor receives $20M federal loan to open foreign luxury car dealership in Ukraine

Biden's 'good friend,' donor receives $20M federal loan | The Daily Caller

 

[bigrebnc1775]

Ford motors stock has fallen by the same proportions.

So the tax payers aren't on the hook for ford and it's move to save union jobs.

 

[Gadawg73]

Bailing out GM was not by Obama for political gain. The structuring of the debt WAS for political gain.
1st time in history first in line priority creditors got FUCKED by union thugs.
Old ladies, widows and retired folks be damned. The union thugs have to be paid first.
SICK.

If he werent able to strike a deal that gave the unions the advantage, he never would have struck a deal.

You mean that if he weren't able to strike a deal to fuck the secured creditors and pay back political favors to the unions the unions would not fill his campaign coffers the next election.
SICK.

 

[Jarhead]

Ford motors stock has fallen by the same proportions.

so? What does that have to do with anything?

Bailing out GM was a temporary fix and cost us billions strictly for political gain of Obama. Only a fool did not know that the US auto industry could not compete with the world industy overall.

It proves that the downturn in auto stocks in the last year and a half is unrelated to the bailout.

Ford didn't get a bailout. Why would need to point these things out to you? Are you that out of it?

I suggest you read enitre posts before responding....and ciriticizing.

Or maybe youy need some lessons in reading comprehension.

Pointing out that Fords numbers are down is irrelevant.

Why?

Becuase my crticism was not the bailout as a bailout. My criticism was that the bailout was a waste of money becuase anyone with a brain was well aware that the US auto induistry can not keep up with the international competition...and its end is inevitble.

You are no fun to debate. You are either way too partisan or a really stupid human being.

In other words...you are a waste of my time.

 

[bigrebnc1775]

Ford motors stock has fallen by the same proportions.

But the taxpayers are standing there holding the bag.

The taxpayers got a huge revenue boost in the form of the taxes paid by the jobs saved by the bailout.

Just in case you missed this part from the link

This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.