GM Dumps $400 Million To Bail Out Peugeot

Discussion in 'Politics' started by TruthSeeker56, Mar 9, 2012.

  1. TruthSeeker56
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    TruthSeeker56 Silver Member

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    Attention U.S. taxpayers: You now own a piece of a French car company that is drowning in red ink.

    That's right. In a move little noticed outside of the business pages, General Motors last week bought more than $400 million in shares of PSA Peugeot Citroen - a 7 percent stake in the company.

    Because U.S. taxpayers still own roughly one-quarter of GM, they now own a piece of Peugeot.

    Peugeot can undoubtedly use the cash. Last year, Peugeot's auto making division lost $123 million. And on March 1 - just a day after the deal with GM was announced - Moody's downgraded Peugeot's credit rating to junk status with a negative outlook, citing "severe deterioration" of its finances.

    In other words, General Motors essentially just dumped more than $400 million of taxpayer assets on junk bonds.

    An American Auto Bailout - For France? - Yahoo! News
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    Great...$40 million to prop up the most xenophobic economy in Europe..That outghtta turn out well. :rolleyes:
     
  3. Warrior102
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    Warrior102 Gold Member

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    Peugeot - what a piece of shit. My friend used to have one - every time he turned the key, the fucking thing surrendered.
     
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  4. iamwhatiseem
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    iamwhatiseem Gold Member

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    What are the chances there is more than the eye can see here?
    A little "encouragement" from some certain elected officials maybe?
     
  5. francoHFW
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    francoHFW Platinum Member

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    What the hell is a xenophobic economy LOL? And Peugeots have changed in 30 years...

    Is this the dumb azz dittohead thread? You betcha....
     
  6. Warrior102
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    Warrior102 Gold Member

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    They've changed how?
    I don't see too many around.
    Thankfully they're keeping that trash in France - where you belong, KKKomrade
     
  7. Oddball
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    Oddball BANNED Supporting Member

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    You obviously know nothing about how restrictive France's economy is, know-nothing dimwit.
     
  8. francoHFW
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    francoHFW Platinum Member

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    They like protecting their small farmers and having some good food, corporate tool. You believe a lot of xenophobic Pubcrappe. And they're right a hell of a lot more than incompetent bought off Pubs and the dupes...Ever been there, shyttehead? LOL!
     
  9. Oddball
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    Oddball BANNED Supporting Member

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    I mean like forcing their populace to drive around in crappy and unreliable Pugeots and Citro├źns, which aren't even engineered/built well enough to justify building factories for them into America, like Honda, Subaru, BMW and MB have.

    Now our tax dollars are getting pissed away on more crap that nobody wants.
     
    Last edited: Mar 9, 2012
  10. francoHFW
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    francoHFW Platinum Member

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    Their cars are great if they have good sales and service, which they never had here. Perhaps GM wants some different mileage technology.
     

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