GM is doing AWESOME

[Meister]

When was the last time the government was privy to shareholder stock of a private company?

 

[buckeye45_73]

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.

If it was such a success, why do they need the subprime loans?

Ding ding!!!!!!!! We have a winner!!!!!!

 

[The T]

GM Ramps Up Risky Subprime Auto Loans To Drive Sales; Taxpayers Still Own 26.5% - Investors.com


SUBPRIME loans......didnt we already go through this

4 words: Fannie Mae / Freddie Mac.

 

[Sinjorri]

it boggles my mind how hypocritical the left is, they want to u to use the small farms and the little businesses but blow gaskets because the little guy had a chance to go big with the fall of GM? What, so because Obama blew it, yet again, now the left is for big business? Which why does it go people.

In a capitalistic environment the big dog doesnt last long, so when they fall (GM) thats when little companies get to make their moves and swallow up pieces and people and product and help with innovation, research and anything else. This would have been a banner day for small businesses. Nope, the hypocritical left jumped in *something Obama knew nothing about* and more taxpayer money down the big ol black hole. Thanx again OBama.

 

[there4eyeM]

G.M. should have been nationalized and used as in WWII to construct what we need and not outdated machines that are merely to make even more money for the obscenely overly rich oil companies.

 

[rightwinger]

it boggles my mind how hypocritical the left is, they want to u to use the small farms and the little businesses but blow gaskets because the little guy had a chance to go big with the fall of GM? What, so because Obama blew it, yet again, now the left is for big business? Which why does it go people.

In a capitalistic environment the big dog doesnt last long, so when they fall (GM) thats when little companies get to make their moves and swallow up pieces and people and product and help with innovation, research and anything else. This would have been a banner day for small businesses. Nope, the hypocritical left jumped in *something Obama knew nothing about* and more taxpayer money down the big ol black hole. Thanx again OBama.

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

 

[Nemo]

Are you referring to the Ally Financial bankruptcy?

 

[Papageorgio]

Ignorant.

Obama violated American bankruptcy laws by willfully denying secured bond holders first payment, in favor of unsecured political supporters.

Yep, my biggest contention with the government in this case. I'm not sure how violating the law is a good thing. When the secured bond holders bought the bonds, they had an expectation that laws would be followed in the event of a bankruptcy, instead the government said...screw you.

Political favors for supporters of your party is wrong and cost honest people money.

 

[Sinjorri]

it boggles my mind how hypocritical the left is, they want to u to use the small farms and the little businesses but blow gaskets because the little guy had a chance to go big with the fall of GM? What, so because Obama blew it, yet again, now the left is for big business? Which why does it go people.

In a capitalistic environment the big dog doesnt last long, so when they fall (GM) thats when little companies get to make their moves and swallow up pieces and people and product and help with innovation, research and anything else. This would have been a banner day for small businesses. Nope, the hypocritical left jumped in *something Obama knew nothing about* and more taxpayer money down the big ol black hole. Thanx again OBama.

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

delorean was a fault of his own, and u are making that prediction much like obama when the left proclaims he saved us from the worst depression eva" Give it a break the little guy is always ready to pounce, its hypcritcal but its done because its obama. we all know the tripe play the left engages in.

 

[Sinjorri]

Ignorant.

Obama violated American bankruptcy laws by willfully denying secured bond holders first payment, in favor of unsecured political supporters.

Yep, my biggest contention with the government in this case. I'm not sure how violating the law is a good thing. When the secured bond holders bought the bonds, they had an expectation that laws would be followed in the event of a bankruptcy, instead the government said...screw you.

Political favors for supporters of your party is wrong and cost honest people money.

obama love him some middle class people. it wasnt just the rich he screwed.

 

[Listening]

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.

BFD.

Liquidate the S.O.B.

I know three people wiped out in the recession (one of whom was clearly the victim of a premature bank takeover....he needed no additional cash....he just needed to be left alone...the fed took over.....called his loan....and screwed him). Who helped them ?

BTW: If the price tag gets low enough...someone buys it all or in pieces.

That is the way the market works.

We will never know....it was never allowed to work.

Instead, Obama now has thousands of union votes complements of the U.S. taxpayer.

 

[rightwinger]

it boggles my mind how hypocritical the left is, they want to u to use the small farms and the little businesses but blow gaskets because the little guy had a chance to go big with the fall of GM? What, so because Obama blew it, yet again, now the left is for big business? Which why does it go people.

In a capitalistic environment the big dog doesnt last long, so when they fall (GM) thats when little companies get to make their moves and swallow up pieces and people and product and help with innovation, research and anything else. This would have been a banner day for small businesses. Nope, the hypocritical left jumped in *something Obama knew nothing about* and more taxpayer money down the big ol black hole. Thanx again OBama.

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

delorean was a fault of his own, and u are making that prediction much like obama when the left proclaims he saved us from the worst depression eva" Give it a break the little guy is always ready to pounce, its hypcritcal but its done because its obama. we all know the tripe play the left engages in.

There are no little guy auto makers. The little guys are the ones who provide components to GM and Chrysler. They benefitted from the bailouts as much as GM.

 

[Listening]

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

No way to prove that statement.

The demand for cars just does not go away because some bloated overunionized company can't compete.

 

[Sinjorri]

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

delorean was a fault of his own, and u are making that prediction much like obama when the left proclaims he saved us from the worst depression eva" Give it a break the little guy is always ready to pounce, its hypcritcal but its done because its obama. we all know the tripe play the left engages in.

There are no little guy auto makers. The little guys are the ones who provide components to GM and Chrysler. They benefitted from the bailouts as much as GM.

i dont care if ford bought it up, it would need people and more litlte businesses. Hell even if a foriegn car company came over and said america we want to try it out over here, we'll buy up parts and another guy will buy off parts and we'll do something unique, i dont care as long as it was bought up and someone else got a shot. the american way.

 

[Listening]

GM is alive. Bin Laden is dead.

Our 'Conservatives' are unhappy with both outcomes.

Baloney. We are happy Bin Laden is dead, we just don't alocate as much credit to the no-brainer decision that Obama made. The CIA did the painstaking work and planning, Obama happened to be in the White House.

As far as GM, I don't think any American is sad they are alive.
The difference is most conservatives would have nolt given them a bailout.
GM was in the shape they were due mainly to poor quality that over time drove more and more of it's customer base to other car manufacturers.
Most conservatives view the bailouts as rewarding poor business decisions.

Not only that, but we continue to show our willingness to rescue bad behavior on the part of business.

Government sponsored loans are just an invitation for banks and mortgage cos. to make loans they would never make. They don't exercise the same care because they have no skin in the game....and in fact they get paid to make the loans....soooooooooo

 

[The T]

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

No way to prove that statement.

The demand for cars just does not go away because some bloated overunionized company can't compete.

And one that should have filed for bankruptcy.

 

[Sinjorri]

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

No way to prove that statement.

The demand for cars just does not go away because some bloated overunionized company can't compete.

And one that should have filed for bankruptcy.

and should have been out of the game, did it happen, no. Ford is like the A student in this ordeal, the A student does well, preps, sacrifices, and what happens, reconginiztion goes more to the stupid kids who get second or third tries and everything else the teacher can toss their way. Pissed me off to see that in school and pisses me off Obama did that to Ford. Way to work hard americans, heres some government hand outs.

 

[Mac1958]

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

Unfortunately no, not when politics enter into it. Obama's standard apologists will defend everything, including the fucking over of GM bondholders, no matter what, forever, period. And of course, if situations were reversed, Republicans would do precisely the same thing.....

.

 

[The T]

No way to prove that statement.

The demand for cars just does not go away because some bloated overunionized company can't compete.

And one that should have filed for bankruptcy.

and should have been out of the game, did it happen, no. Ford is like the A student in this ordeal, the A student does well, preps, sacrifices, and what happens, reconginiztion goes more to the stupid kids who get second or third tries and everything else the teacher can toss their way. Pissed me off to see that in school and pisses me off Obama did that to Ford. Way to work hard americans, heres some government hand outs.

I have never bought the 'too big to fail' argument. And that was the whole premise. Why have bankruptcy laws if you're not going to follow them?

 

[Papageorgio]

it boggles my mind how hypocritical the left is, they want to u to use the small farms and the little businesses but blow gaskets because the little guy had a chance to go big with the fall of GM? What, so because Obama blew it, yet again, now the left is for big business? Which why does it go people.

In a capitalistic environment the big dog doesnt last long, so when they fall (GM) thats when little companies get to make their moves and swallow up pieces and people and product and help with innovation, research and anything else. This would have been a banner day for small businesses. Nope, the hypocritical left jumped in *something Obama knew nothing about* and more taxpayer money down the big ol black hole. Thanx again OBama.

When was the last time a little guy auto maker succeeded? Ask DeLorean. If GM and Chrysler folded, they would have been lost forever

Maybe, maybe not. Other companies would have filled the void, GM could have sold off parts of the company. Chrysler was eventually bought by Fiat