General Motors Is Headed For Bankruptcy -- Again

[clevergirl]

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.

MORE POVERTY THAN EVER BEFORE

Many Castro apologists try to justify the poverty in Cuba saying that you can find the same poverty in many other countries. But what these people do not say is that those other countries didn't have

to suffer a revolution that caused tens of thousands of deaths, millions of refugees, the loss of all liberties, and that supposedly was needed in order to improve the life of ALL citizens.

After more than 47 years, there is much more poverty in Cuba than ever before.

Except for Castro and his gang who are the new millionaires, the 11 million Cubans have to suffer the exploitation of the omnipotent state, rationed food, lack of housing and the indignity of being second class citizens in their own country.

It is the worse form of capitalism, the capitalism of the state.

But incredibly enough, there are some Latin American countries that want to copy this failed and obsolete system and there are even some moronic Americans who claim that we should imitate some of the things that Castro has done!


Poverty in Cuba

 

[tinydancer]

So selling 7000 cars is rocking? Give me a break. I could sell that in hamster food in two weeks.

Libs think this is great.

General Motors is pinning some of its hopes for the future on its gas-electric hybrid the Chevy Volt. After a slow start last year, Volt sales are beginning to pick up. According to Edmunds.com, Volt sales so far this year are almost level with all of last year's sales. GM has sold about 7,000 of the hybrids.

http://www.usmessageboard.com/politics/241071-general-motors-is-headed-for-bankruptcy-again-6.html

 

[C_Clayton_Jones]

General Motors Is Headed For Bankruptcy -- Again

Or so most conservatives hope – many on the right are reprehensible, of course, in their desire to see fellow American continue to suffer for some perceived political gain.

 

[bigrebnc1775]

General Motors Is Headed For Bankruptcy -- Again

Or so most conservatives hope – many on the right are reprehensible, of course, in their desire to see fellow American continue to suffer for some perceived political gain.

Got too save those union pension plans and make it sound like we're saving American jobs.
On an even worse note obama allowed GM to take the money and build a plant in Mexico and send jobs to China.

 

[The Professor]

Obama put the taxpayers on the hook to reward his friends in the United Auto Workers' Union. In the process of rewarding his political friends, he hurt a lot of other people involved with GM. Here is part of an article written by Michelle Malkin:

“Bondholders standing up for their property and contractual rights got shortchanged and demonized personally by the President. Dealers and suppliers faced closures based on political connections and lobbying clout rather than neutral efficiency evaluations. As I first reported in September 2010, in the rush to nationalize the auto industry and avoid contested court termination proceedings, the White House auto team schemed with big labor bosses to preserve UAW members' costly pension funds by shafting their non-union counterparts

“These forgotten nonunion pensioners (who worked for the Delphi/GM auto parts company) lost all of their health and life insurance benefits. Hailing from the economically devastated Rust Belt — northeast Ohio, Michigan and neighboring states — the Delphi workers had devoted decades of their lives as secretaries, technicians, engineers and sales employees. Some have watched up to 70 percent of their pensions vanish. They’ve banded together to seek justice in court and on Capitol Hill under the banner of the Delphi Salaried Retiree Association.”

The rest of this article can be read at the following link:

Michelle Malkin » The Autoworkers Obama Left Behind

In another article on the subject, Michelle Malkin described the personal hardships faced by the 20,000 non-union GM/Delphi workers. Here are a few examples of what these workers had to say:

“I’m one of the Delphi Salaried Retirees that lost the health care, life insurance and 67 percent of the pension I was promised in retirement after working hard for 40 years,” Charles Stone of Michigan e-mailed. “Words cannot describe the frustration and let down these events have thrust on my family’s lives, and to have GM’s rescue all sugar-coated in the current political environment is like putting lipstick on a pig. … We will continue to fight to right this grievous wrong.”

Tom Rose of Ohio added: “I am one of the 20,000 salaried retirees that lost all of my health care and — in my case — a 40 percent pension cut. So I am now paying increased health care costs with fewer pension dollars and contributing what is left to our lawsuit to correct this injustice. Meanwhile, the politically connected union has their full pension and 90-plus percent of their health care. You have hit upon the key question: How can our own federal government pick winners and losers amongst its own citizens?”

Michelle Malkin » Meet the real workers Obama screwed over

When Obama suggested that he bail out other industries the way he did at GM, I laughed out loud. Obama is strictly looney tunes and if he does for the rest of U.S. industries what he did for GM, we're all in big trouble.

 

[The Professor]

GM is not doing well at all, and this is in spite of the Government's own purchase of GM vehicles. The following article explains the secret of Obama's “success” with GM:

Seton Motely
July 10, 2012

We now learn that government purchases of GM vehicles rose a whopping 79% in June.
Meaning Barack Obama is now campaigning on the “success” of - the government buying cars from...the government’s car company. With our money.

That’s like you setting up a lemonade stand for your kids. You buy them the lemons, sugar, cups and pitchers - and then buy most of the lemonade yourself.

Except you are President Obama. Your kids are the United Autoworkers Union. And the lemonade cost $50 billion. At least you get to tax your neighbors for the $50 billion.

Again - in what Bizarro-world is this auto bailout the “success” the Jurassic Press [liberal media] incessantly reports it is?

Media Fail: Government Motors Inflates Sales by Selling to...the Government | NewsBusters.org

Note: explanatory insertion ([liberal media]) is my own.

 

[there4eyeM]

GM committed slow, agonizing suicide by mismanagement. It did fail. The banks committed the same thing (though of course not identical; it's a different industry). What is the difference between collectivizing bank stupidity and collectivizing auto industry stupidity? Why is it OK to preserve bankers' jobs and not 'workers' jobs?
Personally, I think the unions should have demanded better cars, too, so the unions share. Unions, however, are not people and families; they are organizations like banks and government ruled by avaricious little minds. That is the situation we are in. Stupidity reigns, and it isn't an easy ideological doctrine that is going to get us out of it.

 

[Papageorgio]

General Motors Is Headed For Bankruptcy -- Again

Or so most conservatives hope – many on the right are reprehensible, of course, in their desire to see fellow American continue to suffer for some perceived political gain.

Glad to see you support GM, how many shares do you currently have of GM? What new GM vehicles have you purchased since 2009?

 

[editec]

The US taxpayer overpaid to save a lot of truly screwed up companies

AIG being a truly excellent example.

I find it rather odd that people gripe about General Motors, while ignoring AIG.

Why is that, do we suppose?

Innocent ignorance?

Or is their careful parcing out of what and who they hate motivated by something other than true concern for the US taxpayer?

 

[bigrebnc1775]

The US taxpayer overpaid to save a lot of truly screwed up companies

AIG being a truly excellent example.

I find it rather odd that people gripe about General Motors, while ignoring AIG.

Why is that, do we suppose?

Innocent ignorance?

Or is their careful parcing out of what and who they hate motivated by something other than true concern for the US taxpayer?

Chris dodd helped them out by allowing them to keep their bonuses But this thread isn't about AIG it's about GM going bankrupt.

 

[Old Rocks]

Well, the 'Conservatives' are certainly hoping that GM will go bankrupt, and would raise Bin Laden up from the dead, were they able. They really want to demonstrate their love of America.

 

[bigrebnc1775]

Well, the 'Conservatives' are certainly hoping that GM will go bankrupt, and would raise Bin Laden up from the dead, were they able. They really want to demonstrate their love of America.

First let's put this bin ladin bullshit to an end.The master mind of 9/11 was captured while bush was president.

Now I would love too see the unions lose their fat bonus and be like middle class and not part of the 1%ers

 

[daveman]

Obama put the taxpayers on the hook to reward his friends in the United Auto Workers' Union. In the process of rewarding his political friends, he hurt a lot of other people involved with GM. Here is part of an article written by Michelle Malkin:

“Bondholders standing up for their property and contractual rights got shortchanged and demonized personally by the President. Dealers and suppliers faced closures based on political connections and lobbying clout rather than neutral efficiency evaluations. As I first reported in September 2010, in the rush to nationalize the auto industry and avoid contested court termination proceedings, the White House auto team schemed with big labor bosses to preserve UAW members' costly pension funds by shafting their non-union counterparts

“These forgotten nonunion pensioners (who worked for the Delphi/GM auto parts company) lost all of their health and life insurance benefits. Hailing from the economically devastated Rust Belt — northeast Ohio, Michigan and neighboring states — the Delphi workers had devoted decades of their lives as secretaries, technicians, engineers and sales employees. Some have watched up to 70 percent of their pensions vanish. They’ve banded together to seek justice in court and on Capitol Hill under the banner of the Delphi Salaried Retiree Association.”

The rest of this article can be read at the following link:

Michelle Malkin » The Autoworkers Obama Left Behind

In another article on the subject, Michelle Malkin described the personal hardships faced by the 20,000 non-union GM/Delphi workers. Here are a few examples of what these workers had to say:

“I’m one of the Delphi Salaried Retirees that lost the health care, life insurance and 67 percent of the pension I was promised in retirement after working hard for 40 years,” Charles Stone of Michigan e-mailed. “Words cannot describe the frustration and let down these events have thrust on my family’s lives, and to have GM’s rescue all sugar-coated in the current political environment is like putting lipstick on a pig. … We will continue to fight to right this grievous wrong.”

Tom Rose of Ohio added: “I am one of the 20,000 salaried retirees that lost all of my health care and — in my case — a 40 percent pension cut. So I am now paying increased health care costs with fewer pension dollars and contributing what is left to our lawsuit to correct this injustice. Meanwhile, the politically connected union has their full pension and 90-plus percent of their health care. You have hit upon the key question: How can our own federal government pick winners and losers amongst its own citizens?”

Michelle Malkin » Meet the real workers Obama screwed over

When Obama suggested that he bail out other industries the way he did at GM, I laughed out loud. Obama is strictly looney tunes and if he does for the rest of U.S. industries what he did for GM, we're all in big trouble.

It's not like the left gives a shit about non-union members.

 

[daveman]

General Motors Is Headed For Bankruptcy -- Again

Or so most conservatives hope – many on the right are reprehensible, of course, in their desire to see fellow American continue to suffer for some perceived political gain.

Oh, you mean like how many on the left gleefully stand on the bodies caused by shooting rampages to call for more gun control?

 

[daveman]

General Motors Is Headed For Bankruptcy -- Again

Or so most conservatives hope – many on the right are reprehensible, of course, in their desire to see fellow American continue to suffer for some perceived political gain.

Glad to see you support GM, how many shares do you currently have of GM? What new GM vehicles have you purchased since 2009?

Jonesy is one of those "Do as I say, not as I do" liberals.

 

[P@triot]

No matter how much failure and misery the liberals policy of communism/marxism/socialism creates, they just keep going back to it.

I said it at the time of the GM bailout, and I will say it again:

The economy in general and the auto industry specifically would have been exponentially stronger had Obama kept his fucking nose out of it, as he was required to by law. Had GM gone under, it would not have caused a vacuum. GM owners would not have started walking to work. So when they needed a new automobile, they would have been forced to turn to Ford, or Toyota, or Honda, etc. And that means those companies would have had more demand, which means they would need to increase supply. Which means they would need a lot more workers to produce the increased demand. And who would they hire? Of course they are going to hire the people with EXPERIENCE from GM. Those workers would have gone to work for better companies and would have better futures. Instead, Obama artificially propped up a bad company and that not only added to the debt and the future burden of tax payers, but it also ensured that the failure and burden continues.

The free market flawlessly handles itself and by nature, ensures that companies become stronger and stronger (and by nature, the economy). Conversely, every time the government unconstitutionally sticks its nose into the free market, it ensures failure.

 

[Toro]

I skimmed the article. It's pretty dumb. An article claiming GM is going to go bankrupt but doesn't say anything about its debt obligations nor its cash flow is difficult to take seriously. It's great that the author tells us what the wheelbase is but what are the covenants that will trigger bankruptcy? He may not know the difference between a bond liability and bond glue.

 

[P@triot]

Or so most conservatives hope – many on the right are reprehensible, of course, in their desire to see fellow American continue to suffer for some perceived political gain.

Glad to see you support GM, how many shares do you currently have of GM? What new GM vehicles have you purchased since 2009?

Jonesy is one of those "Do as I say, not as I do" liberals.

Show me a liberal who isn't DM... It's exactly why they say "socialism is for the people, not the socialist". They expect everyone else to share and sacrifice, but they "deserve" to live better. It's the most repulsive form of hypocrisy.

 

[Full-Auto]

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

Just heard a radio spot where the Government motors dealer is selling cars at a loss.....

Didnt all those subprime loans work?

 

[Bfgrn]

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.

Except for the FACT Bush began the auto bailout. And he would do it again...WHY? I will let Bush explain it to you:


Bush Defends Auto Bailouts Amid Growing Political Debate: 'I'd Do It Again'

February 7, 2012 4:36 PM EST

Former U.S. President George W. Bush defended the emergency bailout funds his administration provided to General Motors Co. and Chrysler Group LLC in a speech to car dealers, saying he would "do it again."

(Photo: Reuters)
President George W. Bush defended his administration's
2008 auto bailouts on Monday, saying they were
necessary to prevent a depression.


"I didn't want there to be 21 percent unemployment," Bush said Monday in the closing speech at National Automobile Dealers Association convention in Las Vegas, according to Bloomberg. "I didn't want to gamble. I didn't want history to look back and say, 'Bush could have done something but chose not to do it.' And so I said, 'No depression.'"

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