GM Bailout Looking like a win for Obama

Flopper

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Mar 23, 2010
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Much sooner than expect GM successfully floated it's initial public stock offering. The planned offering price of $29 a share was raised to $33 due to public demand. The stock closed up on it's first day of trading.

"American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing," Obama said, speaking of the government's $50 billion taxpayer-backed rescue of the venerable automaker. This public offering should reduce government ownership of GM stock by nearly a half. Full payoff is expected to come in about 5 yrs.

Since the bailout GM has racked up 3 billion in profits. GM states that they have significantly reduced their production cost increasing the profit margin.

The Center for Automotive Research estimated that aid to GM and Chrysler saved more than 1.1 million jobs in 2009 and 314,000 jobs this year.

I suspect that the GM bailout will not be a campaign issue in the upcoming presidential election.

Obama: GM stock sale a success for his policy - Yahoo! News
GM stock price up 3.6 percent on first day: five questions about the IPO - CSMonitor.com
 
Yeah it was a good thing Obama did it. Too bad probably 5-10% of those employees are a part of the Tea party and against their own jobs.
 
Much sooner than expect GM successfully floated it's initial public stock offering. The planned offering price of $29 a share was raised to $33 due to public demand. The stock closed up on it's first day of trading.

"American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing," Obama said, speaking of the government's $50 billion taxpayer-backed rescue of the venerable automaker. This public offering should reduce government ownership of GM stock by nearly a half. Full payoff is expected to come in about 5 yrs.

Since the bailout GM has racked up 3 billion in profits. GM states that they have significantly reduced their production cost increasing the profit margin.

The Center for Automotive Research estimated that aid to GM and Chrysler saved more than 1.1 million jobs in 2009 and 314,000 jobs this year.

I suspect that the GM bailout will not be a campaign issue in the upcoming presidential election.

Obama: GM stock sale a success for his policy - Yahoo! News
GM stock price up 3.6 percent on first day: five questions about the IPO - CSMonitor.com

are you nuts? GM is selling most of the IPO to foreigners and the tax payers are losing $11/share!

WE ARE SENDING GM TO CHINA!

You call this a WIN for OBAMA?
 
Yeah it was a good thing Obama did it. Too bad probably 5-10% of those employees are a part of the Tea party and against their own jobs.

Obama didn't bail out GM....

That was all Dubya.

No it was all Obama. Even Congress refused to send GM a life line. Bush was long gone when they asked for help. They didn't get that until they filed for bankruptcy.
 
Yeah it was a good thing Obama did it. Too bad probably 5-10% of those employees are a part of the Tea party and against their own jobs.

Obama didn't bail out GM....

That was all Dubya.

No it was all Obama. Even Congress refused to send GM a life line. Bush was long gone when they asked for help. They didn't get that until they filed for bankruptcy.

you're a moron or a liar....

bush bailed out gm and chrysler
 
One difference between Obama and Bush

Bush just handed them money while Obama demanded they change the way they do business and give the taxpayers stock in return. The rightwing screamed they would be asking for more money in six months, GM would fail anyway.....we would never see a cent of our money

Major win for Obama...Saved tens of thousands of jobs, saved the auto industry in the US and we are gradually getting our money back
 
One difference between Obama and Bush

Bush just handed them money while Obama demanded they change the way they do business and give the taxpayers stock in return. The rightwing screamed they would be asking for more money in six months, GM would fail anyway.....we would never see a cent of our money

Major win for Obama...Saved tens of thousands of jobs, saved the auto industry in the US and we are gradually getting our money back

lmao....no win for bush, its all obama

what a fucking hack
 
Obama didn't bail out GM....

That was all Dubya.

No it was all Obama. Even Congress refused to send GM a life line. Bush was long gone when they asked for help. They didn't get that until they filed for bankruptcy.

you're a moron or a liar....

bush bailed out gm and chrysler

No he didn't! The economy didn't even crash until 3 weeks before the election and it was 18 months later that GM was in congress asking for help.

Bush offered to lend GM money in the last month of his presidency but he handed it off to Obama because he was outta time!
 
One difference between Obama and Bush

Bush just handed them money while Obama demanded they change the way they do business and give the taxpayers stock in return. The rightwing screamed they would be asking for more money in six months, GM would fail anyway.....we would never see a cent of our money

Major win for Obama...Saved tens of thousands of jobs, saved the auto industry in the US and we are gradually getting our money back

Obama knows how to run an auto company?

Bankruptcy is reorganization, not end of operations.
 
One difference between Obama and Bush

Bush just handed them money while Obama demanded they change the way they do business and give the taxpayers stock in return. The rightwing screamed they would be asking for more money in six months, GM would fail anyway.....we would never see a cent of our money

Major win for Obama...Saved tens of thousands of jobs, saved the auto industry in the US and we are gradually getting our money back

It didn't save the auto industry in the US. GM announced during it's appeal to Congress that it would be offshoring much of it's manufacturing to China. And GM has only proceeded along that path.

We saved GM so that GM could move to China.
 
No it was all Obama. Even Congress refused to send GM a life line. Bush was long gone when they asked for help. They didn't get that until they filed for bankruptcy.

you're a moron or a liar....

bush bailed out gm and chrysler

No he didn't! The economy didn't even crash until 3 weeks before the election and it was 18 months later that GM was in congress asking for help.

Bush offered to lend GM money in the last month of his presidency but he handed it off to Obama because he was outta time!

bullshit....he agreed to a nearlyh 20 billion dollar bailout in december 08

where do you get your facts, 1-800-eat shit?
 
why are you not saying it is a win for bush as well....?
Before Bush left office, $13 billion from the financial bailout was used to keep GM and Chrysler afloat until the issue could be resolved. The actually bailout that kept GM going was done by the Obama administration.
 
why are you not saying it is a win for bush as well....?
Before Bush left office, $13 billion from the financial bailout was used to keep GM and Chrysler afloat until the issue could be resolved. The actually bailout that kept GM going was done by the Obama administration.

They were both wrong to interfere with a market solution, that is reorganization under Chapter 11.
 

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