General Motors Is Headed For Bankruptcy -- Again

[tinydancer]

GM stock is up 10% in the last ten days. That's hardly the stock action of a company that's allegedly headed for bankruptcy.

The WHOLE POINT of this thread, is that the GOVERNMENT should NEVER have bailed out a CAR COMPANY!

And don't play STUPID, because we ALL KNOW that the what REALLY happened was the UNIONS got paid off, THEY took all the money, NOT the COMPANY.

That was a band aide fix, and that money will run out and GM will right back where it was when it took the government money to pay off the unions.

THAT is the crux of what is going on with GM, and the American tax payers taking it up the ass to save the unions is because of the SHIT STAIN IN THE WHITE HOUSE.

Now dispute that, but realize first, you'll just be illustrating in no uncertain terms that you are one, a liar, and two, an idiot.

Biggest money laundering scheme I have ever witnessed.

 

[kaz]

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

Liberals just like to hear yourselves talk, don't you?

 

[Shelzin]

Just so this is clear, the reason GM was making the wrong cars was because unions make labor too expensive?

Nope... It's still up to the company to agree/disagree with the company contract. It's the companies fault, not the union.

And the business should have failed like any other business with a bad business model.

 

[there4eyeM]

Yet, the GM executives fully expected a bailout while their failing derrières stayed in place!

Modest proposal: it should have been taken over and turned over to the unions, which would then have been told to do whatever they had to to produce the right products and pay back the loan. If they could make $200 an hour doing it, great! If it were $20, tough.

Now get on with it.

Think they wouldn't succeed? Well, the big brains from the big schools certain did excrementally!

 

[Shelzin]

Yet, the GM executives fully expected a bailout while their failing derrières stayed in place!

Modest proposal: it should have been taken over and turned over to the unions, which would then have been told to do whatever they had to to produce the right products and pay back the loan. If they could make $200 an hour doing it, great! If it were $20, tough.

Now get on with it.

Think they wouldn't succeed? Well, the big brains from the big schools certain did excrementally!

No... They should have been bought, or... If they couldn't sell it then they are out of a job. It's time that unions started actually caring about their jobs, and not just take what they can get someone will bail them out.

 

[there4eyeM]

The post inferred the company was not a gift, but to be paid back.
Anyway, no one thinks this would really get done in the present situation. It is just the image of another way to look at things.
On second thought, though, it could work.

 

[francoHFW]

OP: Whacko RW idiocy. Back to school and change the channel- you're a functional moron.

 

[bigrebnc1775]

OP: Whacko RW idiocy. Back to school and change the channel- you're a functional moron.

Come on Francis will obama waste your money again by bailing out union pensions plans?

 

[daveman]

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

As long as UAW pensions are secure, that's all that matters.


Right, USMB lefties?

 

[daveman]

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.

Will you rightwingers be satisfied when every decent paying job is gone in America?

THEN will you shut the fuck up?

That's the leftist goal: Having everyone dependent on government.

Of course, you idiots have no idea how you're going to pay for it, aside from "Tax the rich!!", which will, of course, fund your Utopia for about ten minutes.

 

[daveman]

Just in case you missed this part from the link

So? That's a month and half of what we spent in Iraq. Go bitch about that times 7 years and then get back to me.

You said

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

Being in the hole for $16.4 billion is not a huge revenue boost, I call it a lose.

Let's examine Carby's moronic claim:

In order for him to claim this is a good thing, we need to show how much money the government received from those saved jobs.

In 2009, the average tax rate was 11.06%. We'll use that figure.

So, how much wages would have to be earned to receive $16.4 billion? With a tax rate of 11.06%, it would be $148 billion. Let's say the average auto worker makes $65/hour, or $135,200 year.

For the government to make money on the GM bailout, there would have to have been more than 1,094,674 employees.

Carby? Are there a million workers at GM?

Take your time. I can tell you haven't given this any thought at all.

 

[Mr.Nick]

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?

It proves the bailout did absolutely nothing and it proves that people cant afford cars which means the stimulus did absolutely nothing...

That is about 1.5 trillion right down the tubes....

It proves that Obama is an incompetent partisan jackass....

Sorry you wont stimulate the economy when you spend 1.5 trillion dollars on 15% of the workforce (public and private sector labor unions)....

 

[buckeye45_73]

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.

Will you rightwingers be satisfied when every decent paying job is gone in America?

THEN will you shut the fuck up?

WTF? I love liberal logic, will you be satisfied when we look like Cuba?

 

[bigrebnc1775]

So? That's a month and half of what we spent in Iraq. Go bitch about that times 7 years and then get back to me.

You said

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

Being in the hole for $16.4 billion is not a huge revenue boost, I call it a lose.

Let's examine Carby's moronic claim:

In order for him to claim this is a good thing, we need to show how much money the government received from those saved jobs.

In 2009, the average tax rate was 11.06%. We'll use that figure.

So, how much wages would have to be earned to receive $16.4 billion? With a tax rate of 11.06%, it would be $148 billion. Let's say the average auto worker makes $65/hour, or $135,200 year.

For the government to make money on the GM bailout, there would have to have been more than 1,094,674 employees.

Carby? Are there a million workers at GM?

Take your time. I can tell you haven't given this any thought at all.

You're wasting your time you will not get an answer. But I will have too say that was a good question.

 

[JWBooth]

 

[Zxereus]

This has got to be devestating to Obama.

Let' em sink or swim, that's what we should have done the first time.

 

[daveman]

You said


Being in the hole for $16.4 billion is not a huge revenue boost, I call it a lose.

Let's examine Carby's moronic claim:

In order for him to claim this is a good thing, we need to show how much money the government received from those saved jobs.

In 2009, the average tax rate was 11.06%. We'll use that figure.

So, how much wages would have to be earned to receive $16.4 billion? With a tax rate of 11.06%, it would be $148 billion. Let's say the average auto worker makes $65/hour, or $135,200 year.

For the government to make money on the GM bailout, there would have to have been more than 1,094,674 employees.

Carby? Are there a million workers at GM?

Take your time. I can tell you haven't given this any thought at all.

You're wasting your time you will not get an answer. But I will have too say that was a good question.

Thanks. No, I won't get an answer from Carby. If he responds at all, it will be with arrogance and condescension and a complete inability to acknowledge his point was ridiculous.

 

[bigrebnc1775]

This has got to be devestating to Obama.

Let' em sink or swim, that's what we should have done the first time.

If they sink we will be in the hole at a loss

 

[Douger]

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

Will you rightwingers be satisfied when every decent paying job is gone in America?

THEN will you shut the fuck up?

WTF? I love liberal logic, will you be satisfied when we look like Cuba?

You mean literate,well educated and universal health care and in a beautiful tropical climate full of people who give a shit about more than money ?
Don't get your hopes up.

 

[bigrebnc1775]

Will you rightwingers be satisfied when every decent paying job is gone in America?

THEN will you shut the fuck up?

WTF? I love liberal logic, will you be satisfied when we look like Cuba?

You mean literate,well educated and universal health care and in a beautiful tropical climate full of people who give a shit about more than money ?
Don't get your hopes up.

According to a slip from Castro Cuba doesn't have national healthcare.