GM is again the world's largest automaker

Discussion in 'Politics' started by Flopper, Jan 19, 2012.

  1. Flopper
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    Flopper Gold Member

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    Obama took a lot of heat for saving GM. Today, I think a lot of Americans are proud that America is once again home of the world's largest automaker. GM is well on it's way to paying back the government. If the recent trend in GM stock holds, the government may actually make a profit.

    Less than two years after emerging from bankruptcy,General Motors Co.has regained the title of the world's largest automaker.

    GM's worldwide sales rose 7.6% to 9 million vehicles in 2011. The Detroit manufacturer last held the top spot in 2007 before it was surpassed byToyota Motor Corp.the next year.

    Chevrolet, GM's flagship brand, set a record by selling nearly 4.8 million vehicles. That was more than what many entire auto companies posted in sales last year, including Nissan and Honda.

    GM has repaid $24.1 billion of the $49.5 billion in federal government aid it received. The repayments include the proceeds from the automaker's public stock offering. The government's holdings in the company's stock are worth about $10 billion based on Thursday's closing share price of $24.82.

    GM is again the world's largest automaker - latimes.com
     
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  2. Luddly Neddite
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    Luddly Neddite Diamond Member

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    Don't look to any Repub/tb/rw to give President Obama his due on this. They wanted our auto industry to fail completely. They wanted those people to be out of work and for the city of Detroit to die. If they can do it, they will drive the auto industry into ruin. If they can't do anything else, they will lie about this. Its the Repub way.

    I say, good work, Mr. President.
     
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  3. Wacky Quacky
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    Wacky Quacky Silver Member

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    Which is weird because the cars they make are pieces of shit. I'm not saying this in any sort political sense, I just think GM makes some of the worst cars out there. They're notorious for break downs at just around 100,000 miles, weird how that happens huh.

    Give me an older Chrysler/Mopar any day. Those things were immortal.
     
  4. pete
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    pete The food stamp president

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    well when you give billions to a company to keep them afloat and they dont pay the loan back and you then give them a contract for x amount of cars at an inflated price ....
    they better be doing good!!
     
  5. Liberty
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    Liberty Silver Member

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    ...government can only destroy...and in this case they destroyed the vacuum of innovation what would have filled the void of GM's failure...and we are stuck with inferior products like the Volt. Thanks, government.
     
  6. Full-Auto
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    Full-Auto Gold Member

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    Half price has been good.
     
  7. Wry Catcher
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    Wry Catcher Platinum Member

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    links
     
  8. Liberty
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    Liberty Silver Member

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  9. merrill
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    merrill VIP Member

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    Frankly I was one to say let the executives go..... fire them. They mismanaged the corporation so why should taxpayers bail them out while at the same time the same mismanagement team stays on and draws obscene salaries?

    The repubs wanted it to go down because Obama was president nothing based on principle.

    Just because GM claims to be the largest doesn't make them the best...

    I like my USA made Toyota 4 cylinder 5 speed trucks and our Toyota RV aka 2001 Sienna.
     
  10. Zander
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    Zander Platinum Member

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    GM has not and never will pay back the loans. Anyone who investigates the real facts will quickly realize that they have not paid back one penny. They used borrowed money to "pay back" borrowed money. It's like using a credit card to pay a credit card. The Obama fluffers will continue to trot out these lies as we get closer to the election.
     

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