GM to go bankrupt again ?

Discussion in 'Economy' started by Nova78, Aug 9, 2012.

  1. Nova78
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    Nova78 Silver Member

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    GM will go bankrupt again!

    President Obama saved GM. At least that's what we've been hearing over and over again. But have you ever asked yourself if it's actually true? By the month of June GM reported a 16% spike in sales. That's a fact! You might say GM is back on track, but if you take a closer look you will find out that it's a whole different story. Obama wants you to believe that GM gained the ability to turn around the company on $50 billion in taxpayer dollars. What the government doesn't want you to know is that GM never received $50 billion dollars, because $30 billion went to the UAW for stuff like: 7 weeks paid vacation each year, $74 an hour in salary and benefits and Health Care covering things like: lasik eye surgery, drug coverageĀ…). So the President tells us that GM was able to do what they needed for just $20 billion dollars.

    Do the math, GM will go bankrupt again. At least if Obama gets 4 more years in office. Remember " When I have more flexibility!" ( hot mic situation with Dmitry MedvedevDmitry Medvedev in Seoul on March 26th).

    $Obama-Volt1-522x350.jpg

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  2. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    Sales are down more than 40% this year because the govt already bought all their new fleet of GM cars last year which helped it look like the bailout was a success.

    Now that the govt buying cars is done you can see that the initial problem was never fixed, the problem of compensation rates being too high for the company to compete when compared to other companies in the auto industry.

    From the LA Times, a notoriously liberally slanted outlet. General Motors' profit falls 41%, hurt by Europe's economic woes - Los Angeles Times They spin it as being because europe's economy is stinking but the truth is the govt refurbished their fleet of vehicles in 2010/2011 and are no longer doing so.

    As you can see the govt helped prop up GM with more than 100 million in purchases (Ford got more but ford never took a bailout and isn't being trumpeted as a stimulus success) U.S. government buys 17,205 new cars for $287 million, Ford represents
     
  3. Nova78
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    Nova78 Silver Member

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    Another Obama failure,throwing your future away one day at a time
     

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