GM Workers To Receive Profit-Sharing Bonus with our money

[Claudette]

No. Better if it went back to the taxpayers who footed their bills. The UAW can fuck off for all I care.

I wonder if any of the bond and shareholders who got hosed during the Obama takeover of GM and Chrysler will get any of their money back???

Equity holders got screwed? Whatever does that mean? Since when did equity holders have an expectation to be made whole?

I'm sure the equity holders had no expectation of being screwed out of investments by the Govt. interferring with a private company either.

It seems to me I also read somewhere that GM took other TARP money to pay back part of the loan.

If true then We the taxpayer got payed back with money that was borrowed from we the taxpayer.

 

[8537]

No. Better if it went back to the taxpayers who footed their bills. The UAW can fuck off for all I care.

I wonder if any of the bond and shareholders who got hosed during the Obama takeover of GM and Chrysler will get any of their money back???

Equity holders got screwed? Whatever does that mean? Since when did equity holders have an expectation to be made whole?

I'm sure the equity holders had no expectation of being screwed out of investments by the Govt. interferring with a private company either.

The company declared bankruptcy, and were declaring bankruptcy regardless of any involvement (or lack thereof) by government. The government didn't "screw them out of investments". They screwed themselves by risking capital in a failing company.

The equity holders gambled and lost. It happens. Go tell Vegas to pay back those poor old people who lost money playing blackjack.

 

[editec]

GM Workers To Receive Profit-Sharing Bonus with our money

You got something against profit?

WHAT ARE YOU SOME KIND OF COMMIE?

 

[noose4]

Great news for the American working class, great to see the auto companies rebound so well.

 

[Claudette]

Equity holders got screwed? Whatever does that mean? Since when did equity holders have an expectation to be made whole?

I'm sure the equity holders had no expectation of being screwed out of investments by the Govt. interferring with a private company either.

The company declared bankruptcy, and were declaring bankruptcy regardless of any involvement (or lack thereof) by government. The government didn't "screw them out of investments". They screwed themselves by risking capital in a failing company.

The equity holders gambled and lost. It happens. Go tell Vegas to pay back those poor old people who lost money playing blackjack.

As I recall there was a big dustup because had gotten the bailout money to avoid bankruptcy and then they had declared bankruptcy anyway.

A lot of the talk was that they should have declared bankruptcy to begin with. They could have restructured and not needed bailout at all.

I wonder how many of those shareholders had retirment money invested with GM. I'm sure they appreciate your well wishs.

 

[Claudette]

Great news for the American working class, great to see the auto companies rebound so well.

Yeah. Way great for the UAW.

Not so great for the taxpayers footing the bills. Wonder if we taxpayers will get a bonus there skippy.

 

[noose4]

Great news for the American working class, great to see the auto companies rebound so well.

Yeah. Way great for the UAW.

Not so great for the taxpayers footing the bills. Wonder if we taxpayers will get a bonus there skippy.

The AIG execs did a lot better than these auto workers but conservative types were fine with that.

 

[Claudette]

Great news for the American working class, great to see the auto companies rebound so well.

Yeah. Way great for the UAW.

Not so great for the taxpayers footing the bills. Wonder if we taxpayers will get a bonus there skippy.

The AIG execs did a lot better than these auto workers but conservative types were fine with that.

Well. Your raising hell about AIG.

Since both companies took bailout money you should be having a heartattack over GM just like the one your having over AIG.

No difference in my book. Taxpayer dollars either way.

 

[Mr Natural]

Much better if it went to the executives, right?

You can be sure that the execs got their piece of the action and then some.

 

[noose4]

Yeah. Way great for the UAW.

Not so great for the taxpayers footing the bills. Wonder if we taxpayers will get a bonus there skippy.

The AIG execs did a lot better than these auto workers but conservative types were fine with that.

Well. Your raising hell about AIG.

Since both companies took bailout money you should be having a heartattack over GM just like the one your having over AIG.

No difference in my book. Taxpayer dollars either way.

I am not the one having a heart attack I am the one pointing out that cons have no problem with executives getting lucrative bonuses while having a problem with working stiffs getting a little profit sharing.

 

[Claudette]

Workers or execs.

We taxpayers got hosed either way.

I have no good feelings for either group.

 

[rightwinger]

The AIG execs did a lot better than these auto workers but conservative types were fine with that.

Well. Your raising hell about AIG.

Since both companies took bailout money you should be having a heartattack over GM just like the one your having over AIG.

No difference in my book. Taxpayer dollars either way.

I am not the one having a heart attack I am the one pointing out that cons have no problem with executives getting lucrative bonuses while having a problem with working stiffs getting a little profit sharing.

The workers agreed to major concessions in wages and benefits as a condition of the bailout. Now that the companies are showing a major profit, they are getting some of it back.
Taxpayers are still getting paid back sooner than the agreement calls for

 

[CrusaderFrank]

Will they use the bonus money to rebuild Detroit?

Nah.

 

[Soggy in NOLA]

Will they use the bonus money to rebuild Detroit?

Nah.

It's the least they could do given destruction they've heaped on the town.

 

[Harry Dresden]

dummies are so dumb, the lefties come up with two options, either pay it to the workers or to the CEO.. never once thought about We the People.

but wait a minute Willow...are not those workers part of the "people"?......it was their tax dollars too...was it not?......

 

[WillowTree]

dummies are so dumb, the lefties come up with two options, either pay it to the workers or to the CEO.. never once thought about We the People.

but wait a minute Willow...are not those workers part of the "people"?......it was their tax dollars too...was it not?......

read the constitution Harry, when taxes are collected and spent they should be dispursed evenly, so even if they are taxpayers too, they were the beneficiaries of the "bailout" they should not receive a bonus until "we get our money back" once our money is paid back and they have an excess then they may have a bonus, but no bonus for them until we the other taxpayers are paid back. see, evenly dispersed. that's the name of the game.

 

[Harry Dresden]

dummies are so dumb, the lefties come up with two options, either pay it to the workers or to the CEO.. never once thought about We the People.

but wait a minute Willow...are not those workers part of the "people"?......it was their tax dollars too...was it not?......

read the constitution Harry, when taxes are collected and spent they should be dispursed evenly, so even if they are taxpayers too, they were the beneficiaries of the "bailout" they should not receive a bonus until "we get our money back" once our money is paid back and they have an excess then they may have a bonus, but no bonus for them until we the other taxpayers are paid back. see, evenly dispersed. that's the name of the game.

ok....but here at least some of the people are getting this instead of the CEO'S or the govt....and if its going to be like that,no matter what we may think or want.....well i would rather see someone get it who may actually work.....then some assholes who dont....

 

[gekaap]

Am I the only one who noticed that NOWHERE does the story actually mention anything about GM still owing money to the US government? I believe that all the bailout money has been repaid, at a profit no less due to interest. It's the main reason I eventually softened by view of the whole bailout ordeal.

 

[8537]

Am I the only one who noticed that NOWHERE does the story actually mention anything about GM still owing money to the US government? I believe that all the bailout money has been repaid, at a profit no less due to interest. It's the main reason I eventually softened by view of the whole bailout ordeal.

GM has repaid the debt, but the government still has a large equity stake it is selling off over time (at a profit so far, fwiw)

 

[Jroc]

Much better if it went to the executives, right?

why is he not whining about how much JP Chase executives and such are getting?

as of july, 2010....

The companies have paid $18.3 billion back to the government in interest, debt and dividends. This has largely been a result of improving vehicles sales.

Auto industry may pay back more taxpayer money than expected - CarFinance.com

and how many rightwingnut threads whined that the government wanted to keep banking executives from taking unlimited bonuses?

what retards.

I'm glad you speak for all conservatives we wanted none of that no bail outs the federal government can't be picking and choosing which companies they like and which they don't it called the free market. It's worked pretty well for us wouldn't you say? No Cronyism