Take a drive through Detroit sometime. 23% is promising for G.M. but unemployment is above 10% in Motor City. It's no secret that Obama spent taxpayers money to save union pensions. GM would have done just as well if it went into bankruptcy.
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Question for the right wingnutz.
Is GM sales being up a good thing or not?
Yes. However, GM will be right back where it was before as It hasn't addressed the $100 billion in pension liabilities. Matter of fact, they haven't put a dime into the pension plan in years. But, for now the unions are happy, and that was the goal.
Next time, let em go bankrupt. Then they'll be forced to deal with the 800 pound gorilla in the room.
GM reports solid 23% sales gain in January - Drive On: A conversation about the cars and trucks we drive - USATODAY.com
Once left for dead, the US Auto industry is showing strength once again. TARP bailouts, which were decried as wasting good money after bad are proving to be a wise investment
General Motors saw a 23% sales increase in January compared with the year before as customers returned to new-car showrooms.
Most encouraging was the 36% increase in so-called retail sales, individuals buying new cars, not just big sales to fleet customers such as rental car agencies that are less profitable. Those fleet sales were down 7% compared with the same month a year ago.
The U.S. government plans to sell a significant share of its remaining stake in General Motors Co. this summer despite the disappointing performance of the auto maker's stock, people familiar with the matter said.
A sale within the next several months would almost certainly mean U.S. taxpayers will take a loss on their $50 billion rescue of the Detroit auto maker in 2009.
To break even, the U.S. Treasury would need to sell its remaining stakeabout 500 million sharesat $53 apiece. GM closed off 27 cents a share at $29.97 in 4 p.m. trading Monday on the New York Stock Exchange, hitting a new low since its $33-a-share November initial public offering.
Shares have been hurt by rising fuel prices, industry production disruptions and management turnover. At Monday's price, and taking into account shares sold during the IPO, taxpayers would lose more than $11 billion on the rescue if the government dumped the rest of its stake now.
I'd say that GM is the Poster Child for Government INVESTMENT: A big loser for taxpayers while muchos taxpayer dollaros go to Big Government Cronies.
I'm surprised leftwinger hasn't reported this turn of events...
You are a fool.
Anyone who was going to donate their car tfor that period took the tax credit instead by handing it in for wrecking. That was an entire half year of donations lost by the charities.
But your sorry ass job was saved.....some employee you are....
FREAKING POSTING ON THIS SITE DURING THE WORK DAY
You say I hate the American worker?
Seems you only like what is good for you.
Selfish piece of shit cluelss liberal.
Oooh. I overshot my lunch hour by 10 lousy minutes arguing with stupid, which apparently has no point, I see. My boss takes 2 hour lunches and goes out for a 10 minute smoke break EVERY EFFING HOUR. I don't take any breaks, so I don't feel so bad about it. And he makes much more than I do and I do all the dirty work. My department practically falls apart when I take any time off and I'm made to feel REALLY guilty for taking my two weeks at once, so don't call me a lazy employee, asshole.
So, your moral value is "if I see a supervisor stealing from the company, then I can steal from the company" Is that correct?
I'd say that GM is the Poster Child for Government INVESTMENT: A big loser for taxpayers while muchos taxpayer dollaros go to Big Government Cronies.
0bama has the reverse Midas touch....
It wasn't about bailing out GM... It was about bailing out union pension funds....