GM Dumps $400 Million To Bail Out Peugeot

[TruthSeeker56]

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

 

[Oddball]

Great...$40 million to prop up the most xenophobic economy in Europe..That outghtta turn out well.

 

[Warrior102]

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

 

[iamwhatiseem]

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

 

[francoHFW]

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

Is this the dumb azz dittohead thread? You betcha....

 

[Warrior102]

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

Is this the dumb azz dittohead thread? You betcha....

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

 

[Oddball]

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

Is this the dumb azz dittohead thread? You betcha....

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

 

[francoHFW]

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!

 

[Oddball]

I mean like forcing their populace to drive around in crappy and unreliable Pugeots and Citroëns, 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.

 

[francoHFW]

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

 

[Claudette]

Perhaps the folks running Obama Motors are dumber than dirt.

 

[Oddball]

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

Their cars are overpriced and unreliable crap....Even the French know it.

 

[Paulie]

I hate big corporations, they're evil and they only care about their own interests.

Well, except GM of course. My president supported them so they're pretty awesome.

 

[Warrior102]

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

That's because it's a French car, assbreath. How many Chang'An Motors dealerships near your trailer court, asswipe?

 

[TruthSeeker56]

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

Peugeot's newest advertising campaign involves a FREE "Ameri-French Survival Kit" with every purchase of a new GM-Peugeot:

1. Hand-sewn French white flag

2. Copy of Obama's book "The Audacity Of Hope"

3. One World War 2 French rifle, never used, dropped once, firing pin removed

4. Lifesize cardboard cutout of Barack Obama

5. A "I Just Bought A New GM-Peugeot and All I Got Was This Crappy United Auto Worker's Union" T-Shirt

The American taxpayers take it up the wazoo AGAIN!

 

[paulitician]

Why should they care? They're playing with the house's money. Just another stupid Big Government debacle. To Hell with Corporate Welfare.

 

[Mr. Shaman]

I mean like forcing their populace to drive around in crappy and unreliable Pugeots and Citroëns, 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.

.....Except the....

.....ENTIRE EUROPEAN MARKET!!!!

Yeah.....that's ANOTHER RECORD-BREAKING EFFORT by the Obama Admin....shortly after puttin' a LOT of Americans back-to-WORK!!!!

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