GM will always be dead

Discussion in 'Current Events' started by Liberty, Nov 17, 2010.

  1. Liberty
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    Liberty Silver Member

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    So, all over th evening news: "YAY GM IS BACK! And is going to go public @ $33/share and the government will drop ownership from 65% to 26%! The bailout worked! Yay!"

    No.

    If the free market system was allowed to function GM would have went bankrupt and a new, innovative company would take it's place in the vacuum , and thus I say again: INNOVATE the market in GM's wake. But nope...stuck with mediocrity yet again.

    And yes, if you buy a "Volt" you are an idiot.

    Thanks, Big Brother!
     
  2. Revere
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    Revere BANNED

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    Who else gets a $45B tax cut on the eve of an IPO?
     
  3. Big Fitz
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    Big Fitz User Quit *****

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    Comes down to this. I was a proud GM owner (Pontiac, Saturn). Now I won't ever buy a GM vehicle again. Not my duty to keep that shit company afloat after making so many bad decisions.
     
  4. Liberty
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    Liberty Silver Member

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    I drive a 2003 Blazer LS I bought from a Denver city auction that I love but I too will not buy GM again. Hopefully by the time I need a new vehicle (not anytime particularly soon) I can afford a Ford Raptor :)
     
  5. asterism
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    asterism Congress != Progress

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    I still love the talking points about "the debt is being repaid and the government is making money off the stock." Any debt that was repaid was because first the loan, then the bailout (gift), then the capital investment with a quick "fuck off" to the existing equity holders and debtors. So the success? The government is losing money in the IPO. The stock has to almost double for the government to break even.

    But the unions got some free stock, so it's all apparently worth it.
     

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