More economic Good News.........GM sales up 17%

[rightwinger]

GM sales up 17% on demand for new models, fleet sales - USATODAY.com

DETROIT (AP) — Strong demand for new models and higher fleet sales lifted General Motors sales 17% in May.
The improvement, over a dismal May of last year as GM was headed into bankruptcy protection, was a sign that automakers are benefiting from a weak but improving economy. Some consumers even shrugged off an 8% decline in the stock market to buy more cars and trucks.

GM was the first automaker to report U.S. sales Wednesday, and the whole industry is expected to show a double-digit increase over last May, when Chrysler was in bankruptcy protection and GM was nearing it.

 

[rightwinger]

DETROIT (AP) — Ford Motor (F) says its May sales in the United States rose 22% from a year earlier, boosted by strong demand for the F-Series pickup and new Ford Mustang.

Ford says this is the sixth straight month that sales have increased more than 20% over the previous year, when the industry was in a severe downturn.

Sales of Ford's Lincoln, Mercury and Volvo brands fell. Ford has sold Volvo, but the sale won't be complete until later this year.

The Ford brand saw sales climb 28%.

 

[Rustbelt]

Too bad neither company is making the bulk of their cars here in the USA

 

[rightwinger]

Ford to kill Mercury brand

Report: Ford will announce today it is killing Mercury - Drive On: A conversation about the cars and trucks we drive - USATODAY.com

 

[Zoom-boing]

Ford to kill Mercury brand

Report: Ford will announce today it is killing Mercury - Drive On: A conversation about the cars and trucks we drive - USATODAY.com

Well thank God. I drove a Mercury Grand Marquis for seven years. Worst. Car. Ever. The Mercury Mystique came in second.

Does the gov still own 60% of GM?

 

[rightwinger]

Does the gov still own 60% of GM?

I think they do. Looks like they (we) are going to make some profit. They will not dump it all at once, but will slowly sell it back

 

[Modbert]

Great news to say the least.

 

[Zander]

GM borrowed $50 billion. It was structured into 3 separate areas:
1) $30 billion in stock
2) $13 billion in an escrow acct for operating capital (payable at 7% when tapped)
3) $7 billion as a "loan" at 7% ( a very favorable rate considering their bonds were JUNK at that point)
With me so far??

They never used the money (and therefore did not pay the 7% interest on) the operating capital. It was just there, in case they needed it. Therefore the total credit extended to GM was $50 Billlion, but the total tapped was $37 billion. So, 3 months ago GM owed the US taxpayers $37 billion. Still with me?

A few weeks ago GM announced that they had "PAID BACK THE LOAN!!!"

Great!! Then tell me, how much does GM owe the US Taxpayers now? Remember, they started with $37 Billion.

They still owe us $37 billion - they didn't pay back a cent. The borrowed it from the "operating capital fund". It was all just nice little game of Political Kabuki Theater for Dummies!!

Government Motors - run by politicians, now acting like politicians.

PS - GM recently applied for another $10 billion loan - to "upgrade" their plants. Of course these loans will be made at a lower rate of 5% (versus the 7% they now carry).

 

[uscitizen]

Where are automakers and their sales compared to say 2005 sales?
Have they gotten back up to ground zero yet?

 

[The Rabbi]

A lot of GM's sales were to gov't.
Does anyone know if they actually made money selling these cars? Among GMs mission statements I have yet to hear "being profitable". Of course without have to make interest payments to bondholders their bottom line should look good for a while. But they never fixed the main problem: high unit labor costs.

 

[uscitizen]

A lot of GM's sales were to gov't.
Does anyone know if they actually made money selling these cars? Among GMs mission statements I have yet to hear "being profitable". Of course without have to make interest payments to bondholders their bottom line should look good for a while. But they never fixed the main problem: high unit labor costs.

Yep, Until we can get our labor costs down to Mexico's.....

 

[mascale]

Anyone starts with final two year efforts of the Great Black Hole in the universe of United States Presidential Administrations--with Federal Reserve cuts, tax rebates, and TARP--and mainly the rich got the money. Everything tanked, as though nothing was there(?).

Effectively, the banks even went out of business. Still, within 18 months, the big ones had repaid TARP at 8.5% APR. The anti-socialists fail to look at data affecting policy, with therefore no clue about the full extent of the U. S. credit market.

It was therefore thought that the rich were somehow suffering. To prove the point, GOP crossed-over into the Democratic Primaries and helped get. . . .well. . . .to show just exactly what they were having to put up with.

As if in pay-back, The Ivy-League version of a "shovel-ready" stimulus, was a bail-out for the upper-paid bureaucrats, teachers, and professors: Which pretty much includes anyone above the famous civil service grade, "Ticket Bitch!" Federal Contractors already familiar with FedBizzOpps were included. "Others" were not included. And the "Ticket Bitch" was actually a source of revenue, and only barely included.

Nothing much happened.

Then came the full-effect of actual work to even make things, actual money to even buy things, and some vague recognition that the socialist republics had been doing this better all along.

So First Quarter GDP was lampooned for the creation of inventory. Then in Quarter Two people appear to have actually gone out with the liberal stimulus money and bought things. The Socialists tanked their Euro, exports could start to expand to bail Greece, et. al. The really big socialists were slowing the rate of growth in their economy, essentially curtailing their newly rich. Their own have-nots were starting to feel like Bill Clinton, except that it really is their pain that they are feeling. Bill Clinton had been famous for never having to inhale. In fact, he had to express that he could really "feel" everyone else's pain. . . .just somehow, instead.

The Obama Administration countered with the nomination of an Ivy League Law School Presiding Dean to the Supreme Court. This was from that school where they seem to know that the poor and despised have their civil rights to their pittance, just like the rich have their rights to their largesse.

This nomination was to be billed as, "It's A Wonderful LIfe," just like in some versions of the WWII kinder, gentler nations.

Then the oil spill provided the new civil liberties of the Southern States to oil at the tanker-loads, all over the place. The response of the Obama Administration. . . .was considered legal. . . .and proper. The affected beaches would be allowed to keep what they had!

That aside, there would still be cars in the plenty to keep it all drilling along.

"Crow, James Crow: Shaken, Not Stirred!"
(And so with the Great Black Hole in the universe of U. S. Presidential Administrations now safetly behind us, and the Clintons easily revered as the Relatively Pain-Free Old Days: Then finally there arrives the first African American President in U. S. History after all, at 20% Afrikaner, and 80% not too up on things!)

 

[rightwinger]

GM borrowed $50 billion. It was structured into 3 separate areas:
1) $30 billion in stock
2) $13 billion in an escrow acct for operating capital (payable at 7% when tapped)
3) $7 billion as a "loan" at 7% ( a very favorable rate considering their bonds were JUNK at that point)
With me so far??

They never used the money (and therefore did not pay the 7% interest on) the operating capital. It was just there, in case they needed it. Therefore the total credit extended to GM was $50 Billlion, but the total tapped was $37 billion. So, 3 months ago GM owed the US taxpayers $37 billion. Still with me?

A few weeks ago GM announced that they had "PAID BACK THE LOAN!!!"

Great!! Then tell me, how much does GM owe the US Taxpayers now? Remember, they started with $37 Billion.

They still owe us $37 billion - they didn't pay back a cent. The borrowed it from the "operating capital fund". It was all just nice little game of Political Kabuki Theater for Dummies!!

Government Motors - run by politicians, now acting like politicians.

PS - GM recently applied for another $10 billion loan - to "upgrade" their plants. Of course these loans will be made at a lower rate of 5% (versus the 7% they now carry).

So, it looks like things are working out for the US taxpayers. GM was saved, they are now trimmed down and showing a profit. $30 billion in GM stock which was rock bottom when we bought it, will now show a hefty profit.

Win for GM....Win for the taxpayers

 

[Zander]

GM borrowed $50 billion. It was structured into 3 separate areas:
1) $30 billion in stock
2) $13 billion in an escrow acct for operating capital (payable at 7% when tapped)
3) $7 billion as a "loan" at 7% ( a very favorable rate considering their bonds were JUNK at that point)
With me so far??

They never used the money (and therefore did not pay the 7% interest on) the operating capital. It was just there, in case they needed it. Therefore the total credit extended to GM was $50 Billlion, but the total tapped was $37 billion. So, 3 months ago GM owed the US taxpayers $37 billion. Still with me?

A few weeks ago GM announced that they had "PAID BACK THE LOAN!!!"

Great!! Then tell me, how much does GM owe the US Taxpayers now? Remember, they started with $37 Billion.

They still owe us $37 billion - they didn't pay back a cent. The borrowed it from the "operating capital fund". It was all just nice little game of Political Kabuki Theater for Dummies!!

Government Motors - run by politicians, now acting like politicians.

PS - GM recently applied for another $10 billion loan - to "upgrade" their plants. Of course these loans will be made at a lower rate of 5% (versus the 7% they now carry).

So, it looks like things are working out for the US taxpayers. GM was saved, they are now trimmed down and showing a profit. $30 billion in GM stock which was rock bottom when we bought it, will now show a hefty profit.

Win for GM....Win for the taxpayers

Must be "New math" you are using. The US taxpayers have not been paid a red cent and GM is still not profitable. How can you stretch that to a win/win? GM won, we are owed $37 billion and counting......

PS- my disdain of the GM and Chrylser bailouts is non-partisan - I would love to see GM and Chrysler make it, but they wont. They have shitty products. Between GM and Chrysler you have 16 of the 20 worst cars according to Consumers reports...... The marketplace rejected them a long time ago, they will do it again.

 

[The Rabbi]

GM borrowed $50 billion. It was structured into 3 separate areas:
1) $30 billion in stock
2) $13 billion in an escrow acct for operating capital (payable at 7% when tapped)
3) $7 billion as a "loan" at 7% ( a very favorable rate considering their bonds were JUNK at that point)
With me so far??

They never used the money (and therefore did not pay the 7% interest on) the operating capital. It was just there, in case they needed it. Therefore the total credit extended to GM was $50 Billlion, but the total tapped was $37 billion. So, 3 months ago GM owed the US taxpayers $37 billion. Still with me?

A few weeks ago GM announced that they had "PAID BACK THE LOAN!!!"

Great!! Then tell me, how much does GM owe the US Taxpayers now? Remember, they started with $37 Billion.

They still owe us $37 billion - they didn't pay back a cent. The borrowed it from the "operating capital fund". It was all just nice little game of Political Kabuki Theater for Dummies!!

Government Motors - run by politicians, now acting like politicians.

PS - GM recently applied for another $10 billion loan - to "upgrade" their plants. Of course these loans will be made at a lower rate of 5% (versus the 7% they now carry).

So, it looks like things are working out for the US taxpayers. GM was saved, they are now trimmed down and showing a profit. $30 billion in GM stock which was rock bottom when we bought it, will now show a hefty profit.

Win for GM....Win for the taxpayers

So you can thank Pres George W Bush, who pushed this bailout to include the auto makers even after the Democratic Congress rejected it. Right?

 

[rdean]

GM borrowed $50 billion. It was structured into 3 separate areas:
1) $30 billion in stock
2) $13 billion in an escrow acct for operating capital (payable at 7% when tapped)
3) $7 billion as a "loan" at 7% ( a very favorable rate considering their bonds were JUNK at that point)
With me so far??

They never used the money (and therefore did not pay the 7% interest on) the operating capital. It was just there, in case they needed it. Therefore the total credit extended to GM was $50 Billlion, but the total tapped was $37 billion. So, 3 months ago GM owed the US taxpayers $37 billion. Still with me?

A few weeks ago GM announced that they had "PAID BACK THE LOAN!!!"

Great!! Then tell me, how much does GM owe the US Taxpayers now? Remember, they started with $37 Billion.

They still owe us $37 billion - they didn't pay back a cent. The borrowed it from the "operating capital fund". It was all just nice little game of Political Kabuki Theater for Dummies!!

Government Motors - run by politicians, now acting like politicians.

PS - GM recently applied for another $10 billion loan - to "upgrade" their plants. Of course these loans will be made at a lower rate of 5% (versus the 7% they now carry).

So, it looks like things are working out for the US taxpayers. GM was saved, they are now trimmed down and showing a profit. $30 billion in GM stock which was rock bottom when we bought it, will now show a hefty profit.

Win for GM....Win for the taxpayers

So you can thank Pres George W Bush, who pushed this bailout to include the auto makers even after the Democratic Congress rejected it. Right?

Doesn't George get enough Right Wing thanks from the fantastic job he did after Katrina, in Iraq and in Afghanistan? Add the wonderful Republican Drug Bill and the 2.4 trillion dollar tax cuts and you will give him a big head for all his successes.

At least this thread gets traffic. If the news is too positive, right wingers don't want to read about it.

http://www.usmessageboard.com/econo...ecting-a-labor-shortage-soon.html#post2358132

 

[The Rabbi]

So, it looks like things are working out for the US taxpayers. GM was saved, they are now trimmed down and showing a profit. $30 billion in GM stock which was rock bottom when we bought it, will now show a hefty profit.

Win for GM....Win for the taxpayers

So you can thank Pres George W Bush, who pushed this bailout to include the auto makers even after the Democratic Congress rejected it. Right?

Doesn't George get enough Right Wing thanks from the fantastic job he did after Katrina, in Iraq and in Afghanistan? Add the wonderful Republican Drug Bill and the 2.4 trillion dollar tax cuts and you will give him a big head for all his successes.

At least this thread gets traffic. If the news is too positive, right wingers don't want to read about it.

http://www.usmessageboard.com/econo...ecting-a-labor-shortage-soon.html#post2358132

So are you publicly thanking Pres. George W. Bush for extending the bail out to auto makers after the Democratic Congress refused to vote for it?

 

[calvin]

Recession making everything difficult in terms of running business, many big tycoons facing bankruptcy problem. If you are into the same problem immediately consult a bankruptcy lawyer.

Please do not advertise without permission. Thank you. Newby.

 

[midcan5]

Both our GM cars were made here.



Buy American - support all Americans, including yourself.

Sorry, I'm not Japanese, I buy American.

When the Japanese sell American cars, I'll buy theirs.

Our children, our grandchildren, ourselves, require we support each other, buy American.

Didn't know you were Korean!

When the Japanese support my wife, kids, and I, I'll support them, until then I'll buy American.

Please remove American flag from your Japanese car and place a Japanese flag. Thanks.

Quality! our Buick is number one.[/b]

And our latest Buick is perfect and guess who it supports, and guess where it was made, and guess were the profits go and guess.....

Buy American and Thumbs up!

 

[topspin]

I got a Nissan, I think they support a lot of families in Mississsipi. Fuck Detroit