GM is again the world's largest automaker

[Care4all]

fire sales are the every day norm in Retail, now a days....so it is nothing new, but part of the the business strategy.....tough times, tough measures

 

[StevenC]

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

You going to thank Bush as well? After all he started the bailout.

Bush announces $17.4 billion auto bailout

Bush announces $17.4 billion auto bailout - David Rogers and Mike Allen - POLITICO.com

Personally I think they should've been left alone. They would've still recovered but it wouldn't have cost us any money. And we wouldn't be subsidizing an overpriced electric car.

 

[KissMy]

We are forced to buy from GM. If we don't, then we have to pay them for the car anyhow. Who wants to pay for the same car twice?

 

[Seawytch]

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 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.

Yes fire sales usually do well.

Really? How often do "fire sales" result in a company going to number one in the industry?

 

[DaGoose]

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.

Really? I happen to think that American workers are the best in the world and make the best product.

I would never even think of owning a foreign labeled car or truck. My current crop is two Buick LeSabres (2001&2005), 1999 Chevy S-10 Blazer with 160,000 miles, a 2005 GMC Sierra 2500 diesel truck with 145,000 miles and a 2000 Harley Davidson Heritage Springer motorcycle.

Both of my Buicks have around 120,000 miles on them and, as you can see none of my vehicles have less than 100,000 miles except for my Harley. And EVERY vehicle has been relatively trouble free.

So to hell with foreign labeled cars and trucks. It used to be considered anti-American to buy those vehicles.

 

[ClosedCaption]

Obama Derangement Sydrome says that this is bad

 

[merrill]

It was important to save the jobs BUT NOT the CEO,BOD's and other upper level management positions.

USA car companies spent too much money buying into foreign auto makers instead of putting GM money into building quality fuel efficient merchandise.

Instead of building quality cars that would sell themselves they spent tons on advertising which simply does not necessarily tell the truth.

What good is a vehicle with a lifetime warranty that is in the shop frequently using a lifetime warranty? Versus a vehicle with a 60,000 mile warranty that rarely needs to be in the shop?

 

[8537]

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.

There's a reason the Iphone is both the best-selling of its kind and considered the best.

That is unbridled horseshit.

Lol! Yes, in your universe people don't evaulate the costs and benefits or purchase on value. They simply buy the best.

My gawd that's ignorant.

And, anyone who buys an I-phone is a twit. It is considered the 'best' only by morons who fall for the marketing hype of Apple (who are a company with a very hinky safety record and.... they outsource to countries with crap human rights records) Supporting Apple is trendy.... unless you actually care about working conditions, human rights, etc. Typical leftist hypocrisy.

What in the heck are you talking about? Billions in sales and the largest single share of the smartphone market disagree. But hey, you go....

 

[Mr. Shaman]

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.

.....Especially when you don't have to provide any data to support your allegation (aka The Teabagger Syndrome).​

 

[ClosedCaption]

Obama Deragement syndrome says that GM cars should be perfect and run to 500,000 miles. If it doesnt its a huge fail

 

[Mr. Shaman]

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

This, and many OTHERS.....at.....

.....CHANGE!!!!!

 

[editec]

Oh all you lovers of capitalism just crack me up.

The USA paid far more that the capitalization of GM to save it.

Yet not one of the BUSINESS SMART guys seem to understand that or care.

You partisans are so full of shit.

The people of the USA ought to by now own GM, and most of the too big to fail banks. AFter all, we more than paid for them!

But not a single DEM or REP partisan on this board seems to understand that.

You're so busy pitching partisan fast balls for you teams?

That you don't honestly give a damn about the nation itself. And almost NONE of you really seems to understand what CAPITALISM really is, either.

If you did you'd be joining me in asking why the US taxpayers don't already own these companies we more than paid for.

And that ignorance and misplaced POLITICAL TEAM SPIRIT, chums, is why this nation is going DOWN.

 

[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..... Read the CBO report for yourself. The taxpayers got SCREWED.

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

And here are some more facts.......

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, Chrysler bailouts a success

I have at least 48 billion reasons why it was a failure....nice try though!

 

[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.

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.

Really? I happen to think that American workers are the best in the world and make the best product.

I would never even think of owning a foreign labeled car or truck. My current crop is two Buick LeSabres (2001&2005), 1999 Chevy S-10 Blazer with 160,000 miles, a 2005 GMC Sierra 2500 diesel truck with 145,000 miles and a 2000 Harley Davidson Heritage Springer motorcycle.

Both of my Buicks have around 120,000 miles on them and, as you can see none of my vehicles have less than 100,000 miles except for my Harley. And EVERY vehicle has been relatively trouble free.

So to hell with foreign labeled cars and trucks. It used to be considered anti-American to buy those vehicles.

So do I. But most of GM's cars are not made by AMERICANS. You need to read something other than the Daily Kooks every day....

 

[JimH52]

Another good Obama decision that saved thousands of jobs. Bush bailed out the white collars. Obama saved the blue collars...

Bullshit. Obama payed back his Union buddies at taxpayer expense.

Catch a clue idiot.

You got nothing! Bush paid off his wall street chums. The Republican mantra of less regulations came home to roost. Bush's policies left the Country on the brink of ruin. Wage TWO WARS while giving huge tax cuts to the wealthy of society. How did that work out for the economy?

 

[DaGoose]

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.

Really? I happen to think that American workers are the best in the world and make the best product.

I would never even think of owning a foreign labeled car or truck. My current crop is two Buick LeSabres (2001&2005), 1999 Chevy S-10 Blazer with 160,000 miles, a 2005 GMC Sierra 2500 diesel truck with 145,000 miles and a 2000 Harley Davidson Heritage Springer motorcycle.

Both of my Buicks have around 120,000 miles on them and, as you can see none of my vehicles have less than 100,000 miles except for my Harley. And EVERY vehicle has been relatively trouble free.

So to hell with foreign labeled cars and trucks. It used to be considered anti-American to buy those vehicles.

So do I. But most of GM's cars are not made by AMERICANS. You need to read something other than the Daily Kooks every day....

Mine are so fuck off.

You also have to consider where the corporate profits are going.

 

[Zander]

Really? I happen to think that American workers are the best in the world and make the best product.

I would never even think of owning a foreign labeled car or truck. My current crop is two Buick LeSabres (2001&2005), 1999 Chevy S-10 Blazer with 160,000 miles, a 2005 GMC Sierra 2500 diesel truck with 145,000 miles and a 2000 Harley Davidson Heritage Springer motorcycle.

Both of my Buicks have around 120,000 miles on them and, as you can see none of my vehicles have less than 100,000 miles except for my Harley. And EVERY vehicle has been relatively trouble free.

So to hell with foreign labeled cars and trucks. It used to be considered anti-American to buy those vehicles.

So do I. But most of GM's cars are not made by AMERICANS. You need to read something other than the Daily Kooks every day....

Mine are so fuck off.

You also have to consider where the corporate profits are going.

Actually, yours aren't either. The S-10 is assembled in Brazil, The Sierra is assembled in Canada, Venezuala, or Mexico. You got one correct !! The LaSabres are assembled in Hamtramack Michigan!! Woohoo!!


Thanks again for playing!!

 

[Truthseeker420]

 

[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

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

The government agreed to accept 500 million shares of GM stock in exchange for most of the debt. The remainder of the debt, $6.7 billion was paid off in April 2010.

The 34 billion dollar loss assumes that the Treasury's equity holdings in GM are worthless, which is ridiculous. Today GM stock is about $25/sh. Breakeven for the government is $53/sh. If the government liquidated it's 500 million shares, the lost would be about 14 billion. If the market price for GM continues to rise the government may breakeven or even show a profit.

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

 

[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.....

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

The government agreed to accept 500 million shares of GM stock in exchange for most of the debt. The remainder of the debt, $6.7 billion was paid off in April 2010.

The 34 billion dollar loss assumes that the Treasury's equity holdings in GM are worthless, which is ridiculous. Today GM stock is about $25/sh. Breakeven for the government is $53/sh. If the government liquidated it's 500 million shares, the lost would be about 14 billion. If the market price for GM continues to rise the government may breakeven or even show a profit.

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

You're wrong. The TARP money was a separate program. The Treasury has already written off the loss.