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Sure Chris, you just keep believing in that "hope and change".....
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.....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.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!!
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
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
First, a clarification. There was no "bailout." President Obama's team refused their bailout request and forced then into Chapter 11 bankruptcy. This allowed for the reorganization and continued operation of those companies, but shareholders lost everything. Bondholders also lost most of their investment. Union retirees were forced to give up their guaranteed benefits and take stock that would be worthless if the companies didn't succeed. Executives were fired. TARP funding was required because private capital markets were frozen at the time, but to call this a bailout, like the banks received, is simply not accurate.
It was claimed by conservatives that "Obama Motors" was a sinister attempt to socialize the American automotive industry. What actually happened: now that they have returned to profitability, a significant share of the government's stock in GM has been sold to the public, making them a minority owner, and the Treasury Department is eager to sell the rest on a timetable that maximizes profits to the taxpayer.
It was claimed that the bailout was unfair to the other car companies who didn't get government help. What actually happened: Ford, Toyota and Honda all begged the Obama administration to save GM and Chrysler. Failure would have caused the automotive supplier industry in America to collapse, and the other car companies - with America's economy - would have been sucked into the vortex.
Conservatives can argue the rescue of GM and Chrysler was an ideological mistake until the cows come home. Be my guest. But one thing you can't deny. It worked.
GM asked researchers at the Bezalel Academy of Art and Design in Israel to devise ways to help backseat passengers, particularly children, enjoy travel more with interactive display windows. Since it has no immediate plans to put such windows on its vehicles, GM gave the researchers free reign to create applications without regard for a transition to mass production.
The results included Otto, an animated character who can be projected over passing scenery and who responds to car performance, weather and landscape. Another application enhances an existing pastime, finger drawing on window steam. Yet another lets passengers stream and share music and messages with passengers in other cars.
If such interactive windows were to be put into production they likely would use electronically charged "smart glass" technology, which is capable of variable states of translucence and transparency and can reflect projected images, GM said.
While smart glass is increasingly used in architectural and display applications, it is rarely seen in cars, except in movies such as Mission Impossible: Ghost Protocol.. You may think that some fairly recent technologies have already enabled you to keep traveling kids occupied, but GM is way past that. It contends that "DVD players and Game Boys are so five years ago."
Source
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.
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
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.
The "VOLT" is the modern-day Edsel.
Obama took OUR money (well, those of us who pay taxes) and invested it in that?
GM should have been left to fail/go bankrupt.
I didn't see Honda or Toyota whining for a handout.
Another good Obama decision that saved thousands of jobs. Bush bailed out the white collars. Obama saved the blue collars...
The company that produces the "best" car at the "best" price will sell the most. Being the biggest seller of a product is an indication that you are producing the best version of that product for the value.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.
It also occurs to me that 'biggest' is not necessarily 'best'. Personally, I'd prefer we produce the 'best' cars in the world and not worry about the 'biggest' thing... but that is the rational view. I really should try to think less and see if that helps me to understand the drooling hordes in the ObamaNation.
The company that produces the "best" car at the "best" price will sell the most. Being the biggest seller of a product is an indication that you are producing the best version of that product for the value.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.
It also occurs to me that 'biggest' is not necessarily 'best'. Personally, I'd prefer we produce the 'best' cars in the world and not worry about the 'biggest' thing... but that is the rational view. I really should try to think less and see if that helps me to understand the drooling hordes in the ObamaNation.
There's a reason the Iphone is both the best-selling of its kind and considered the best.
Saving GM is going to be another feather in President Obama's cap on the campaign trail...especially when we play clips of Romney calling to let it go bankrupt.
Saving GM is going to be another feather in President Obama's cap on the campaign trail...especially when we play clips of Romney calling to let it go bankrupt.
How so? Is Obama going to take credit for what GW started?
Fact
The sales figures are for the whole year, not the month of December. After being in bankruptcy reorganization just a year+ prior, GM sold more cars than any other manufacturer in the world last year. It's a remarkable turn around for one of America's most iconic and important brands....so of course Republicans must dismiss it.The company that produces the "best" car at the "best" price will sell the most. Being the biggest seller of a product is an indication that you are producing the best version of that product for the value.It also occurs to me that 'biggest' is not necessarily 'best'. Personally, I'd prefer we produce the 'best' cars in the world and not worry about the 'biggest' thing... but that is the rational view. I really should try to think less and see if that helps me to understand the drooling hordes in the ObamaNation.
There's a reason the Iphone is both the best-selling of its kind and considered the best.
All through December these vehicles were half price with bad credit and zero down very real. Please explain how a boost in sales under those conditions make those the best cars.
The company that produces the "best" car at the "best" price will sell the most. Being the biggest seller of a product is an indication that you are producing the best version of that product for the value.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.
It also occurs to me that 'biggest' is not necessarily 'best'. Personally, I'd prefer we produce the 'best' cars in the world and not worry about the 'biggest' thing... but that is the rational view. I really should try to think less and see if that helps me to understand the drooling hordes in the ObamaNation.
There's a reason the Iphone is both the best-selling of its kind and considered the best.
The sales figures are for the whole year, not the month of December. After being in bankruptcy reorganization just a year+ prior, GM sold more cars than any other manufacturer in the world last year. It's a remarkable turn around for one of America's most iconic and important brands....so of course Republicans must dismiss it.The company that produces the "best" car at the "best" price will sell the most. Being the biggest seller of a product is an indication that you are producing the best version of that product for the value.
There's a reason the Iphone is both the best-selling of its kind and considered the best.
All through December these vehicles were half price with bad credit and zero down very real. Please explain how a boost in sales under those conditions make those the best cars.
