General Motors Is Headed For Bankruptcy -- Again

Discussion in 'Politics' started by bigrebnc1775, Aug 17, 2012.

  1. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    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
     
  2. naturegirl
    Offline

    naturegirl Silver Member

    Joined:
    Aug 9, 2011
    Messages:
    4,416
    Thanks Received:
    862
    Trophy Points:
    98
    Location:
    NW Georgia
    Ratings:
    +862
    The first of the "government takeover". There will be more, Capitalism is bad.
     
    • Thank You! Thank You! x 1
  3. LogikAndReazon
    Offline

    LogikAndReazon Gold Member

    Joined:
    Feb 21, 2012
    Messages:
    4,850
    Thanks Received:
    614
    Trophy Points:
    190
    Ratings:
    +1,285
    Nationalization of key industries, price caps, quotas, staggering not for profit losses and govt oversight is clearly the way to prosperity...............lol
     
    • Thank You! Thank You! x 1
  4. bigrebnc1775
    Offline

    bigrebnc1775 Diamond Member

    Joined:
    Jun 12, 2010
    Messages:
    64,004
    Thanks Received:
    3,798
    Trophy Points:
    1,790
    Location:
    Kannapolis, N.C.
    Ratings:
    +4,830
    I thought the American tax payer no longer owned GM what happen, and where's Chris? or ed the liar?
     
  5. Old Rocks
    Online

    Old Rocks Diamond Member

    Joined:
    Oct 31, 2008
    Messages:
    46,560
    Thanks Received:
    5,424
    Trophy Points:
    1,840
    Location:
    Portland, Ore.
    Ratings:
    +10,368
    Ah yes, GM alive, Bin Laden dead. Both of which the 'Conservatives' hate.
     
  6. NYcarbineer
    Offline

    NYcarbineer Diamond Member

    Joined:
    Mar 10, 2009
    Messages:
    96,213
    Thanks Received:
    11,272
    Trophy Points:
    2,060
    Location:
    Finger Lakes, NY
    Ratings:
    +30,300
    Ford motors stock has fallen by the same proportions.
     
    • Thank You! Thank You! x 1
  7. Jarhead
    Offline

    Jarhead Gold Member

    Joined:
    Jan 11, 2010
    Messages:
    20,554
    Thanks Received:
    2,348
    Trophy Points:
    245
    Ratings:
    +3,286
    lol...another one who here's the rhetoric and regurgitates it without putting any thought into it.
     
  8. Jackson
    Offline

    Jackson Gold Member Supporting Member

    Joined:
    Dec 31, 2010
    Messages:
    19,645
    Thanks Received:
    4,875
    Trophy Points:
    290
    Location:
    Nashville
    Ratings:
    +12,685
    But the taxpayers are standing there holding the bag.
     
  9. Jarhead
    Offline

    Jarhead Gold Member

    Joined:
    Jan 11, 2010
    Messages:
    20,554
    Thanks Received:
    2,348
    Trophy Points:
    245
    Ratings:
    +3,286
    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.
     
  10. Gadawg73
    Offline

    Gadawg73 Gold Member

    Joined:
    Feb 22, 2009
    Messages:
    14,426
    Thanks Received:
    1,603
    Trophy Points:
    155
    Location:
    Georgia
    Ratings:
    +1,677
    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.
     

Share This Page