GM plans $3 billion investment in South Korea after Trump took credit for GM moving jobs back to US

[AntonToo]

Well there is this for starters:
Auto bailout saved 1.5 million U.S. jobs -study

Now you tell us how 3 trillion in additional deficit spending by Dotard in his first year will do anything but put us in further peril.

And as everyone knows that story and those like it is a farce.
It disregards so many things it is nothing less than ridiculous. That number pretends that every job would have been lost. Which is not true. It also pretends that GM would have outright closed...not true. It ignores the existence of bankruptcy. Which, admittedly would have been catastrophic for vendors...probably the only piece the article gets right.
It also doesn't go into detail about how much the taxpayers OVERPAID General Motors. We gave them at least double what they needed to survive. They have invested over $5 BILLION of the TARP money building manufacturing plants overseas. Let me say that again, the American taxpayers in the name of saving American manufacturing jobs - has FINANCED GM's investment in off shoring jobs. That is a fact and is inarguable. And GM is going to continue to use that money to fund oversea ventures.

Bla La .. we got our bailout money back in spades

Bullshit you don't what you're talking about, tax payers suffered a net loss of $10.4 billion on the equity positions that secured the auto bailouts.

GM bailout invested $50.9 billion net loss $11.4 billion
GMAC bailout invested $17.2 billion net gain $2.4 billion
Chrysler bailout invested $12.5 net loss $1.3 billion

Total invested $80.7 billion total taxpayer loss $10.2 billion (12.9%)

...and that doesn't include the bond holders that the Federal Government fucked over so they could pay off the UAW (who played a large role in bringing GM and Chrysler to their knees) or the fact that they engineered a deal for Chrysler to effectively bail out Fiat by pressuring Chrysler into a shitty deal instead of working with Nardelli and his management team to execute the turn around plan they had developed.

The dumbasses in the Obama Administration apparently were trying to compete with Bernie Madoff for the heavyweight championship belt of losing other peoples money.

Taxpayers lost $9.26 billion on the U.S. government's automotive industry rescue program, according to a final tally released by U.S. Treasury

The government lost money, but far less than initially expected when the program was launched in 2009. What's more, the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

Final tally: Taxpayers auto bailout loss $9.3B



You think 9.3B is a lot of money to possibly save American auto-industry in the middle of Great Recession?

How about comparing that to a TRILLION in 10 year corporate tax-cuts?

I'll help you visualize this

9.3B vs 1,000B

 

[iamwhatiseem]

...... the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

That is highly arguable...many of the reports on the doomsday catastrophe in the "what if..." scenarios completely ignore reality. Such as, vendor collapse. It assumes that if GM collapsed all of their vendors would have no one to sell their stuff to...hello??....so every person who bought GM's in the past were going to start walking everywhere? No. They will buy something else, and that something else is made up of the same steel/rubber/plastic etc. as GM's. Also it assumes both companies would have ceased to exist. There is no evidence of that.
As well as it doesn't at all discuss how much the taxpayers OVERPAID. They didn't need half what they took.
Indeed, GM has taken over $5 BILLION of TARP funds and directly paid for manufacturing plants overseas.

 

[AntonToo]

...... the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

That is highly arguable...

Maybe but no doubt bailout helped our economy when it needed it most.

If these companies went under the damage would be huge.

 

[Thinker101]

Well there is this for starters:
Auto bailout saved 1.5 million U.S. jobs -study

Now you tell us how 3 trillion in additional deficit spending by Dotard in his first year will do anything but put us in further peril.

And as everyone knows that story and those like it is a farce.
It disregards so many things it is nothing less than ridiculous. That number pretends that every job would have been lost. Which is not true. It also pretends that GM would have outright closed...not true. It ignores the existence of bankruptcy. Which, admittedly would have been catastrophic for vendors...probably the only piece the article gets right.
It also doesn't go into detail about how much the taxpayers OVERPAID General Motors. We gave them at least double what they needed to survive. They have invested over $5 BILLION of the TARP money building manufacturing plants overseas. Let me say that again, the American taxpayers in the name of saving American manufacturing jobs - has FINANCED GM's investment in off shoring jobs. That is a fact and is inarguable. And GM is going to continue to use that money to fund oversea ventures.

Bla La .. we got our bailout money back in spades

Bullshit you don't what you're talking about, tax payers suffered a net loss of $10.4 billion on the equity positions that secured the auto bailouts.

GM bailout invested $50.9 billion net loss $11.4 billion
GMAC bailout invested $17.2 billion net gain $2.4 billion
Chrysler bailout invested $12.5 net loss $1.3 billion

Total invested $80.7 billion total taxpayer loss $10.2 billion (12.9%)

...and that doesn't include the bond holders that the Federal Government fucked over so they could pay off the UAW (who played a large role in bringing GM and Chrysler to their knees) or the fact that they engineered a deal for Chrysler to effectively bail out Fiat by pressuring Chrysler into a shitty deal instead of working with Nardelli and his management team to execute the turn around plan they had developed.

The dumbasses in the Obama Administration apparently were trying to compete with Bernie Madoff for the heavyweight championship belt of losing other peoples money.

Taxpayers lost $9.26 billion on the U.S. government's automotive industry rescue program, according to a final tally released by U.S. Treasury

The government lost money, but far less than initially expected when the program was launched in 2009. What's more, the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

Final tally: Taxpayers auto bailout loss $9.3B



You think 9.3B is a lot of money to possibly save American auto-industry in the middle of Great Recession?

How about comparing that to a TRILLION in 10 year corporate tax-cuts?

I'll help you visualize this

9.3B vs 1,000B

Prevented Chrysler from going out of business? No dumbass, Chrysler was sold, excuse me, given to Fiat.

 

[AntonToo]

Well there is this for starters:
Auto bailout saved 1.5 million U.S. jobs -study

Now you tell us how 3 trillion in additional deficit spending by Dotard in his first year will do anything but put us in further peril.

And as everyone knows that story and those like it is a farce.
It disregards so many things it is nothing less than ridiculous. That number pretends that every job would have been lost. Which is not true. It also pretends that GM would have outright closed...not true. It ignores the existence of bankruptcy. Which, admittedly would have been catastrophic for vendors...probably the only piece the article gets right.
It also doesn't go into detail about how much the taxpayers OVERPAID General Motors. We gave them at least double what they needed to survive. They have invested over $5 BILLION of the TARP money building manufacturing plants overseas. Let me say that again, the American taxpayers in the name of saving American manufacturing jobs - has FINANCED GM's investment in off shoring jobs. That is a fact and is inarguable. And GM is going to continue to use that money to fund oversea ventures.

Bla La .. we got our bailout money back in spades

Bullshit you don't what you're talking about, tax payers suffered a net loss of $10.4 billion on the equity positions that secured the auto bailouts.

GM bailout invested $50.9 billion net loss $11.4 billion
GMAC bailout invested $17.2 billion net gain $2.4 billion
Chrysler bailout invested $12.5 net loss $1.3 billion

Total invested $80.7 billion total taxpayer loss $10.2 billion (12.9%)

...and that doesn't include the bond holders that the Federal Government fucked over so they could pay off the UAW (who played a large role in bringing GM and Chrysler to their knees) or the fact that they engineered a deal for Chrysler to effectively bail out Fiat by pressuring Chrysler into a shitty deal instead of working with Nardelli and his management team to execute the turn around plan they had developed.

The dumbasses in the Obama Administration apparently were trying to compete with Bernie Madoff for the heavyweight championship belt of losing other peoples money.

Taxpayers lost $9.26 billion on the U.S. government's automotive industry rescue program, according to a final tally released by U.S. Treasury

The government lost money, but far less than initially expected when the program was launched in 2009. What's more, the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

Final tally: Taxpayers auto bailout loss $9.3B



You think 9.3B is a lot of money to possibly save American auto-industry in the middle of Great Recession?

How about comparing that to a TRILLION in 10 year corporate tax-cuts?

I'll help you visualize this

9.3B vs 1,000B

Prevented Chrysler from going out of business? No dumbass, Chrysler was sold, excuse me, given to Fiat.

Can't give away a bankruptcy.

They still are creating american jobs:

Fiat Chrysler to invest $1 billion in Michigan plant, add 2,500 jobs

 

[Admiral Rockwell Tory]

GM has always been a disaster waiting for a place to happen. A barely 20th century company with some roots in the 19th century it is literally the text book example of diseconomies of scale.

I think your centuries are a bit off.

 

[Thinker101]

And as everyone knows that story and those like it is a farce.
It disregards so many things it is nothing less than ridiculous. That number pretends that every job would have been lost. Which is not true. It also pretends that GM would have outright closed...not true. It ignores the existence of bankruptcy. Which, admittedly would have been catastrophic for vendors...probably the only piece the article gets right.
It also doesn't go into detail about how much the taxpayers OVERPAID General Motors. We gave them at least double what they needed to survive. They have invested over $5 BILLION of the TARP money building manufacturing plants overseas. Let me say that again, the American taxpayers in the name of saving American manufacturing jobs - has FINANCED GM's investment in off shoring jobs. That is a fact and is inarguable. And GM is going to continue to use that money to fund oversea ventures.

Bla La .. we got our bailout money back in spades

Bullshit you don't what you're talking about, tax payers suffered a net loss of $10.4 billion on the equity positions that secured the auto bailouts.

GM bailout invested $50.9 billion net loss $11.4 billion
GMAC bailout invested $17.2 billion net gain $2.4 billion
Chrysler bailout invested $12.5 net loss $1.3 billion

Total invested $80.7 billion total taxpayer loss $10.2 billion (12.9%)

...and that doesn't include the bond holders that the Federal Government fucked over so they could pay off the UAW (who played a large role in bringing GM and Chrysler to their knees) or the fact that they engineered a deal for Chrysler to effectively bail out Fiat by pressuring Chrysler into a shitty deal instead of working with Nardelli and his management team to execute the turn around plan they had developed.

The dumbasses in the Obama Administration apparently were trying to compete with Bernie Madoff for the heavyweight championship belt of losing other peoples money.

Taxpayers lost $9.26 billion on the U.S. government's automotive industry rescue program, according to a final tally released by U.S. Treasury

The government lost money, but far less than initially expected when the program was launched in 2009. What's more, the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

Final tally: Taxpayers auto bailout loss $9.3B



You think 9.3B is a lot of money to possibly save American auto-industry in the middle of Great Recession?

How about comparing that to a TRILLION in 10 year corporate tax-cuts?

I'll help you visualize this

9.3B vs 1,000B

Prevented Chrysler from going out of business? No dumbass, Chrysler was sold, excuse me, given to Fiat.

Can't give away a bankruptcy.

They still are creating american jobs:

Fiat Chrysler to invest $1 billion in Michigan plant, add 2,500 jobs

And where do you think any/all profits go?

 

[william the wie]

GM officially launched in 1908 but some of it's parts components were pre-1870 carriage companies.

 

[iamwhatiseem]

They still are creating american jobs:

Fiat Chrysler to invest $1 billion in Michigan plant, add 2,500 jobs

Uh huh.... and where are Jeep Renagade's made now?.... not in Ohio anymore. They moved those to Italy.
Chrysler has plans in place to move more Jeep production to Fiat's Italy plants

 

[Tom Horn]

The cars GM builds in S.Korea will be sold in S.Korea and China and has nothing to do with American jobs. I'd think after years of this being explained to fanatics on either side of the fence that at least that much would get through. It's the cars being built in the Orient and either shipped in here or from a Mehican platform that costs us jobs. Duh.

BTW, GM is once again building world-class cars and trucks making the bailout well worth the cost in what would have been another million Americans out of work and the collapse of our entire car industry INCLUDING Ford.

 

[william the wie]

Yeah we need tariffs.

 

[AntonToo]

Bla La .. we got our bailout money back in spades

Bullshit you don't what you're talking about, tax payers suffered a net loss of $10.4 billion on the equity positions that secured the auto bailouts.

GM bailout invested $50.9 billion net loss $11.4 billion
GMAC bailout invested $17.2 billion net gain $2.4 billion
Chrysler bailout invested $12.5 net loss $1.3 billion

Total invested $80.7 billion total taxpayer loss $10.2 billion (12.9%)

...and that doesn't include the bond holders that the Federal Government fucked over so they could pay off the UAW (who played a large role in bringing GM and Chrysler to their knees) or the fact that they engineered a deal for Chrysler to effectively bail out Fiat by pressuring Chrysler into a shitty deal instead of working with Nardelli and his management team to execute the turn around plan they had developed.

The dumbasses in the Obama Administration apparently were trying to compete with Bernie Madoff for the heavyweight championship belt of losing other peoples money.

Taxpayers lost $9.26 billion on the U.S. government's automotive industry rescue program, according to a final tally released by U.S. Treasury

The government lost money, but far less than initially expected when the program was launched in 2009. What's more, the program prevented GM and Chrysler from going out of business — an event most economists and automotive analysts said would have caused the entire industry to collapse and thrown the Midwest into a deep depression.

Final tally: Taxpayers auto bailout loss $9.3B



You think 9.3B is a lot of money to possibly save American auto-industry in the middle of Great Recession?

How about comparing that to a TRILLION in 10 year corporate tax-cuts?

I'll help you visualize this

9.3B vs 1,000B

Prevented Chrysler from going out of business? No dumbass, Chrysler was sold, excuse me, given to Fiat.

Can't give away a bankruptcy.

They still are creating american jobs:

Fiat Chrysler to invest $1 billion in Michigan plant, add 2,500 jobs

And where do you think any/all profits go?

...where do you think corporate profits go generally?

To SHAREHOLDERS.

25% of publicly traded American corporations are actually owned by foreigners.