Is Government Motors headed for bankruptcy?

[Quantum Windbag]

GM is relying on a lot of less than perfect loans to sustain its sales. Am I the only one that remembers what happened the last time the government encouraged people who can't afford something to buy anyway?

President Obama has touted General Motors (GM) as a successful example of his administration's policies. Yet GM's recovery is built, at least in part, on the increasing use of subprime loans. The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy.
Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM's growth .
The automaker is relying increasingly on subprime loans, 10-Q financial reports shows.
Potential borrowers of car loans are rated on FICO scores that range from 300 to 850. Anything under 660 is generally deemed subprime.

GM Ramps Up Risky Subprime Auto Loans To Drive Sales; Taxpayers Still Own 26.5% - Investors.com

 

[AmyNation]

Maybe.

Although i think theyre doing pretty well all things considered.

 

[whitehall]

GM might have survived if it went to bankruptcy and reorganized without intervention from the federal government that mandated the production of stupid products like the Volt that nobody wanted. Today the taxpayers need to recoup their investment of GM stock for around $60 per share but it is around $20 per share. Who do we see about that?

 

[Lakhota]

Is Government Motors headed for bankruptcy?

Yes, and Osama bin Laden is watching TV with me.

 

[Quantum Windbag]

Is Government Motors headed for bankruptcy?

Yes, and Osama bin Laden is watching TV with me.

 

[syrenn]

Until GM ditches the unions.... it will never float.

 

[g5000]

GM is relying on a lot of less than perfect loans to sustain its sales. Am I the only one that remembers what happened the last time the government encouraged people who can't afford something to buy anyway?

President Obama has touted General Motors (GM) as a successful example of his administration's policies. Yet GM's recovery is built, at least in part, on the increasing use of subprime loans. The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy.
Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM's growth .
The automaker is relying increasingly on subprime loans, 10-Q financial reports shows.
Potential borrowers of car loans are rated on FICO scores that range from 300 to 850. Anything under 660 is generally deemed subprime.

GM Ramps Up Risky Subprime Auto Loans To Drive Sales; Taxpayers Still Own 26.5% - Investors.com

That is a very interesting, and surprising, story. Thank you very much for that.


.

 

[percysunshine]

GM is relying on a lot of less than perfect loans to sustain its sales. Am I the only one that remembers what happened the last time the government encouraged people who can't afford something to buy anyway?

But what would happen if GM introduced a new 2013 model car called the 'Quantum' with rear passanger wind bags?

 

[francoHFW]

NOPE.

But many thanks to a-hole Pubs and dupes' destructive obstruction, fear mongering, hate and lies...cheering USA problems...

 

[Quantum Windbag]

GM is relying on a lot of less than perfect loans to sustain its sales. Am I the only one that remembers what happened the last time the government encouraged people who can't afford something to buy anyway?

But what would happen if GM introduced a new 2013 model car called the 'Quantum' with rear passanger wind bags?

It would probably be as big a success as the Volt.

 

[percysunshine]

GM is relying on a lot of less than perfect loans to sustain its sales. Am I the only one that remembers what happened the last time the government encouraged people who can't afford something to buy anyway?

But what would happen if GM introduced a new 2013 model car called the 'Quantum' with rear passanger wind bags?

It would probably be as big a success as the Volt.

Yeah, but you could get royalties. Push their marketing people on this one. They should be ready to grasp at any straw by now.

 

[francoHFW]

These loans are nowhere near as toxic as the ones Pub cronies sold to get the world in this mess. Great job, Pubbies...

 

[francoHFW]

GM is relying on a lot of less than perfect loans to sustain its sales. Am I the only one that remembers what happened the last time the government encouraged people who can't afford something to buy anyway?

But what would happen if GM introduced a new 2013 model car called the 'Quantum' with rear passanger wind bags?

It would probably be as big a success as the Volt.

The Volt is selling great NOW, after quite a few bad months thanks to Pub BS propaganda and stupid hater/dupes...A-holes and chumps...now to get their just reward...shytte.

 

[tinydancer]

Have you seen this article? I think GM truly could be toast.

Auto Bailout Legacy: GM's European Nightmare

Here's just a tidbit.

Beyond the sheer magnitude of the value losses, fixing Europe has become an all-consuming distraction that is draining GM of vital and scarce resources.

This became evident on last quarter's earnings conference call, where CFO Dan Amman ducked and weaved in answering how much of the American taxpayers' money was being lent to Opel to sustain its failing operations.

And as if the misdeeds and mistakes couldn't get worse, GM tied itself up in an equity alliance with the only other automaker in the region in as bad or worse shape than Opel, Peugeot.

GM just made the shocking admission with an SEC filing that it will likely have to write-down the investment as a loss since Peugeot's stock price has also fallen off a cliff with little or no hope of recovery.

http://nlpc.org/stories/2012/08/16/auto-bailout-legacy-gms-european-nightmare

 

[francoHFW]

Good luck with that, hater dupe, and thanks for the DEPRESSION. LOL!

 

[TheGreatGatsby]

Q: Is Government Motors heading for bankruptcy?

A: Depends on who is in the WH in 2013.

 

[Quantum Windbag]

But what would happen if GM introduced a new 2013 model car called the 'Quantum' with rear passanger wind bags?

It would probably be as big a success as the Volt.

The Volt is selling great NOW, after quite a few bad months thanks to Pub BS propaganda and stupid hater/dupes...A-holes and chumps...now to get their just reward...shytte.

It is selling great, mostly because the government, which happens to be majority shareholder in Government Motors, is buying a lot of them as fleet cars.

 

[SniperFire]

I bet even a Marxist toad like Franco could keep GM afloat for a short time if he was given 50 billion in taxpayer money.

 

[there4eyeM]

GM was supposed to make even bigger, heavier, more stupendously Stupid Useless Vehicles?

Of course, continuing consumption for consumption's sake is idiotic (and yet omnipresent!) as an economic and political program. If this type of loan scheme were really for revolutionary personal transportation, perhaps it could be justified.
The Volt is a tiny step in a vaguely correct direction.

 

[editec]

The auto industry has ALWAYS sold cars on credit to SUBPRIME borrowers.

Anybody remember these lyrics from the song "Do you know the way to San Jose" in the MID 60s?

L A is a great big freeway
Put $100 down and buy a car...​