Government Motors: As GM Shares Near Record Low, Taxpayer Loss Now $35 Billion...

[SniperFire]

 

[conservationism]

Union "labor".

The rise of this correlated with the decline in quality of US cars.

 

[SniperFire]

Union "labor".

The rise of this correlated with the decline in quality of US cars.

Interesting study.

And of course, the improvement of quality of US cars has improved in coorelation to the lessening of Union labor producing them.

 

[salem.hills]

@ trillion pic

Too funny!!!

 

[GHook93]

I'd short GM but you never know when Obama will decide to throw another $30 Billion of our tax dollar to save the UAW.

70,000 current employees have to pay for 700,000 retirees. There's no way the company makes a profit, its an accounting fiction.

Their pension liability is equal to more than 100% of every cent the company ever made since inception.

Next time, let the fucking company go bankrupt for real

The 10 ton elephant in room to the GM and Chrysler issues were the unsustainable pension plans and healthcare benefits to retirees (heck it's the same issue with the State budget problems - unsustainable pensions and nearly free state worker healthcare)! Why didn't Honda and Toyota have the threat of insolvency with the auto slowdown? Because neither had unsustainable pensions and neither debt with the gangster unions!

 

[Toro]

I'm thinking about buying GM. It's trading at 1x EV to EBITDA and the government will sell their stock, causing a pretty violent rally. However, the economy isn't doing well, and consumer cyclicals get sold in a decelerating economy. OTOH, with the market orgasming over EuroTARP the past few trading sessions, maybe they'll rotate into those stocks.

 

[paulitician]

To Hell with Corporate Welfare.

 

[Listening]

How we doin on those toxic assets we bought from the finiancial institutions?

The ones that should have failed with GM ?

Don't know.