GM is again the world's largest automaker

[Flopper]

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

 

[Luddly Neddite]

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.

 

[Wacky Quacky]

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.

 

[pete]

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!!

 

[Liberty]

...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.

 

[Full-Auto]

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

Half price has been good.

 

[Wry Catcher]

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!!

links

 

[Liberty]

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!!

links

 

[merrill]

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.

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.

 

[Zander]

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.

 

[whitehall]

Because the freaking cars are made in China.

 

[Flopper]

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.

GM reliability has improved a lot. Consumer Reports who have been one of their biggest critics for years are noting the improvements.

Consumer Reports: GM reliability improved - Business - Autos - msnbc.com

 

[Chris]

 

[Flopper]

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!!

Don't you think your are exaggerating just a wee bit. GM was award 521 million dollars in federal contracts as part of the bailout of which 361 million were by competitive bids. This amounts to .38% of their total revenue. GM normally carries 400 to 900 million in federal contracts.

GM has paid off 50% of the government's investment. They still hold 26 billion in ownership equity worth 10 billion at the current market prices. Aside from fact that the bailout probably saved millions of jobs and saved one of the great American corporations, the government may actually make a profit on the investment. I think history will look back on the GM bailout as excellent investment.

Will Ford Benefit From Federal Contracts Given Government Stakes in GM, Chrysler? - CBS News

 

[Flopper]

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.

Most of the $50 billion G.M. received was converted to an equity stake held by the Treasury Department, so “technically” they have repaid the debt. Although the government could end up writing off 14 billion, this is a lot cheaper than allowing the company to fail and being on the hook for 17 billion in pension liabilities.

Frankly, I think what Republicans hate most about the GM bailout has nothing to do with the money the government spent, but has everything to do with the fact that the government invested in a private enterprise and it's actually doing quite well. That goes against everything a true conservative believes; that is anything the government touches has got turn to shit.

http://www.nytimes.com/2011/06/08/business/08gm.html

 

[Zander]

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!!

Don't you think your are exaggerating just a wee bit. GM was award 521 million dollars in federal contracts as part of the bailout of which 361 million were by competitive bids. This amounts to .38% of their total revenue. GM normally carries 400 to 900 million in federal contracts.

GM has paid off 50% of the government's investment. They still hold 26 billion in ownership equity worth 10 billion at the current market prices. Aside from fact that the bailout probably saved millions of jobs and saved one of the great American corporations, the government may actually make a profit on the investment. I think history will look back on the GM bailout as excellent investment.

Will Ford Benefit From Federal Contracts Given Government Stakes in GM, Chrysler? - CBS News

No, they haven't paid back 50% of the government's "investment". They will never pay back the $34 Billion of $48 Billion they received under the TARP program.....

the nonpartisan Congressional Budget Office has said the Treasury won’t fully recoup that money. The total automaker bailout, including TARP money given to Chrysler, CBO estimates, will cost taxpayers about $34 billion.

sorry, but the facts are the facts..... Read the CBO report for yourself. The taxpayers got SCREWED.

http://cbo.gov/ftpdocs/112xx/doc11227/03-17-TARP.pdf

 

[Chris]

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!!

Don't you think your are exaggerating just a wee bit. GM was award 521 million dollars in federal contracts as part of the bailout of which 361 million were by competitive bids. This amounts to .38% of their total revenue. GM normally carries 400 to 900 million in federal contracts.

GM has paid off 50% of the government's investment. They still hold 26 billion in ownership equity worth 10 billion at the current market prices. Aside from fact that the bailout probably saved millions of jobs and saved one of the great American corporations, the government may actually make a profit on the investment. I think history will look back on the GM bailout as excellent investment.

Will Ford Benefit From Federal Contracts Given Government Stakes in GM, Chrysler? - CBS News

No, they haven't paid back 50% of the government's "investment". They will never pay back the $34 Billion of $48 Billion they received under the TARP program.....sorry, but the facts are the facts.....

http://cbo.gov/ftpdocs/112xx/doc11227/03-17-TARP.pdf

Who cares?

GM was saved and is kicking ass.

It was money well spent.

 

[Zander]

Don't you think your are exaggerating just a wee bit. GM was award 521 million dollars in federal contracts as part of the bailout of which 361 million were by competitive bids. This amounts to .38% of their total revenue. GM normally carries 400 to 900 million in federal contracts.

GM has paid off 50% of the government's investment. They still hold 26 billion in ownership equity worth 10 billion at the current market prices. Aside from fact that the bailout probably saved millions of jobs and saved one of the great American corporations, the government may actually make a profit on the investment. I think history will look back on the GM bailout as excellent investment.

Will Ford Benefit From Federal Contracts Given Government Stakes in GM, Chrysler? - CBS News

No, they haven't paid back 50% of the government's "investment". They will never pay back the $34 Billion of $48 Billion they received under the TARP program.....sorry, but the facts are the facts.....

http://cbo.gov/ftpdocs/112xx/doc11227/03-17-TARP.pdf

Who cares?

GM was saved and is kicking ass.

It was money well spent.

 

[Chris]

No, they haven't paid back 50% of the government's "investment". They will never pay back the $34 Billion of $48 Billion they received under the TARP program.....sorry, but the facts are the facts.....

http://cbo.gov/ftpdocs/112xx/doc11227/03-17-TARP.pdf

Who cares?

GM was saved and is kicking ass.

It was money well spent.

And because Romney was against the GM rescue, Obama is going to win Michigan.

 

[Zander]

Sure Chris, you just keep believing in that "hope and change".....