GM is doing AWESOME

Discussion in 'Politics' started by buckeye45_73, Jul 28, 2012.

  1. buckeye45_73
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    buckeye45_73 Lakhota's my *****

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  2. WillowTree
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    WillowTree Diamond Member

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    shouldn't they wait til after NOV?
     
  3. Mac1958
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    Mac1958 Platinum Member

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    .

    Gotta wonder what all those fucked-over former bondholders think of stuff like this.

    .
     
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  4. tinydancer
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    tinydancer Diamond Member

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    They're buying Fords. Man I'd be pissed. We have an awesome stick on the ice financial chick up here Diane Francis who was trying desperately to explain the insanity of the Obama takeovers of these car companies.

    And that people to this day don't realize he pulled a Chavez. That's sad. That's pitiful that not only people don't understand what happened or grasp a fathom of what happened but then they turn around and applaud it.
     
  5. Jackson
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    Jackson Gold Member Supporting Member

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    We'll never see the money back from the Great Mistake.
     
  6. Nemo
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    Nemo VIP Member

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    It wasn’t a government takeover; it was a bankruptcy reorganization. The General Motors (GM) Chapter 11 case was filed at the height of the economic recession; and there were no banks or other commercial lenders that could provide the DIP (Debtor in Possession) financing necessary to continue business operations during the reorganization proceedings; and without the government assistance (and that of Canada as well) GM would have been DOA (dead on arrival) on the first day, forcing the liquidation of the company, and loss of thousands of jobs as happened in the Circuit City bankruptcy that cost over 35,000 jobs. The liquidation of GM would in turn precipitate the failure of hundreds of related industry manufacturers and suppliers resulting in a flood of business bankruptcy cases across the country, and loss of millions of jobs. And, as it turned out, the reorganization was a success; witness the profitability of the company today.
     
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  7. PredFan
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    PredFan Gold Member

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    Doesn't GM still owe us taxpayers 47 billion?
     
  8. SniperFire
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    SniperFire Senior Member

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    If I gave you 50 billion of taxpayer funding, even you could make GM work. For a while.
     
  9. Truthseeker420
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    Truthseeker420 Gold Member

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    [​IMG]

    [​IMG]
     
  10. Papageorgio
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    Papageorgio The Ultimate Winner

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    Jumping into sub prime loans isn't a way to make this work, after our last lesson, I would think everyone would be outraged.
     

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