General Motors bailout total about $15 billion

[expat_panama]

The Treasury Department on Monday announced that the government has sold its remaining shares of General Motors (GM) and that losses from the 2009 auto industry bailout total about $15 billion.

U.S. Sells Last of GM Shares | Fox Business

This --along with Iran's nukes, Bengazi, fast'n'furious, Philadelphia vote-threats, ACA, and 10 million jobless is how we 'fundamentally change America. Are everyone's incomes equal yet?

 

[expat_panama]

This may be why the left considers buying stocks to be very risky.

 

[iamwhatiseem]

Meanwhile the General Motors board of directors, each making $millions in stock valuation and compensation since the bailout - want to thank you for your donation.
They appreciate it.

 

[mudwhistle]

Just another union bailout.

 

[expat_panama]

Just another union bailout.

No way around it no matter what the extreme left tries to say. Stock holders lost everything. GM's management was gutted. Unions got everything.

 

[iamwhatiseem]

Just another union bailout.

No way around it no matter what the extreme left tries to say. Stock holders lost everything. GM's management was gutted. Unions got everything.

The management was indeed gutted, but they have done quite well since. Thus why I posted the little pic above.
In reality - What soooo many people don't know is that GM has filed bankruptcy thru subsidiaries literally dozens of times.

 

[expat_panama]

...management was indeed gutted, but they have done quite well since...

Right, they did better elsewhere without the GM unions and the feds. Those that took over GM presided over shutting down factories and promoting the Chevy Volt.

Layoffs in management may have worked well for management but it doesn't seem to have worked so well for GM...

 

[Rshermr]

...management was indeed gutted, but they have done quite well since...

Right, they did better elsewhere without the GM unions and the feds. Those that took over GM presided over shutting down factories and promoting the Chevy Volt.

Layoffs in management may have worked well for management but it doesn't seem to have worked so well for GM...

Yup. Should have let them go out of business. So say the cons. And the republican governors and senators and house reps with foreign car manufacturers in their states. Because the final cost of bailing out gm and chrysler (not just gm) will be about $11.3B (Not $15B). The cost for GM alone was about $10B. You get to make that $10B moved up to $15B ONLY by reading a bat shit crazy con site like Fox Business. Where you get to read what you want to believe, but not the truth.
http://money.cnn.com/2013/12/09/news/companies/gm-bailout-stock-sale/

As the federal government gets ready to sell the last of its shares in General Motors Co., a research institute has calculated the final bill on the auto industry bailout and says that taxpayers were net winners.

But the think tank said those funds “saved or avoided the loss of $105.3 billion in transfer payments and the loss of personal and social insurance tax collections -- or 768% of the net investment.”
PHOTOS: Ford debuts 2015 Mustang
Additionally, the center said the bailouts and financial restructurings saved about 2.6 million jobs in the U.S. economy in 2009 and $284.4 billion in personal income over 2009 and 2010.
GM, Chrysler federal bailouts were net economic gain, report argues - latimes.com

You see, this thread is a perfect example of the following study, proven by Expat who spends his time in bat shit crazy con web sites like fox business. Jessus, that is stupid. See the following:
Study: Watching Fox News Actually Makes You Stupid | Jillian Rayfield | Politics News | Rolling Stone

So here we have about as STUPID a set of statements by a group of cons as it is possible to find. All suggesting that giving up the majority of our auto industry, over 2.5 million jobs, and hundreds of billions in dollars lost in personal wealth and tax receipts, is all completely worth it to not have to pay $13.7B in gov funds to save the industry.

Really, me poor ignorant con tools. It is obvious that you are either brain dead, or perhaps more likely, simply wanted to see the economy explode. As did your con leaders, who are attached to the other end of the leash leading to your nose rings. And that you love conservative web sites that are simply attack vehicles with NO interest in truth. You see, fox has already admitted that fox news is not news at all, but rather simply entertainment for knuckle draggers. But then, they do say what you want to believe. Sad, really sad.

 

[boedicca]

As I noted in another thread on this topic:

Taxpayers lost far more thn $10B. As part of the legally fraudulent bankruptcy process, the Federal Government allowed GM to keep a large amount of Net Operating Losses, with which they are avoiding Federal Income Taxes.

In NON-CRONY bankruptcies, such NOL assets are voided as part of the restructuring process.

Hopenchange!

http://www.usmessageboard.com/8275932-post10.html

 

[expat_panama]

...doesn't seem to have worked so well for GM...

Yup. Should have let them go out of business...

Damn right!

We spent $15 Billion of our hard earned money to keep 96,000 GM employees working for four more years making cars like Volts that nobody wants. That comes out to over $150,000 for each worker.

I want my money back.

 

[Mikeoxenormous]

GM Could Be Free of Taxes for Years

The tax benefit stems from so-called tax-loss carry-forwards and other provisions, which allow companies to use losses in prior years and costs related to pensions and other expenses to shield profits from U.S. taxes for up to 20 years.

General Motors raises 2016 guidance, increases buyback by $4 billion

In 2016, GM expects to earn between $5.25 and $5.75 a share.Its guidance for 2016 had previously called for between $5 and $5.50 a share. Meanwhile, the automaker increased its stock buyback program by $4 billion, bringing it to a total of $9 billion.

If Halliburton had a sweetheart deal like this from George Bush, would the libtards be howling in rage? Must be nice to be Government Motors who pays no taxes but can buy back stock at our expense.

 

[KissMy]

Must be nice to be Government Motors who pays no taxes but can buy back stock at our expense. View attachment 59753

Bush bailed out GM, gave no-bid contracts to Halliburton & paid individuals over $40 million each tax free.

You idiots screamed at Obama because the Fed owned GM stock, so they sold it at a $10 billion loss. Had they held it, the Fed would have made money off GM.

 

[Mikeoxenormous]

Must be nice to be Government Motors who pays no taxes but can buy back stock at our expense. View attachment 59753

Bush bailed out GM, gave no-bid contracts to Halliburton & paid individuals over $40 million each tax free.

You idiots screamed at Obama because the Fed owned GM stock, so they sold it at a $10 billion loss. Had they held it, the Fed would have made money off GM.

Can you make profit if you don't pay taxes? Only idiots I know, voted twice for the Dictator thinking that he would make life easier. He did for his liberal elite buddies, like Bill Gates, Warren Buffet and Unions. Do you get to not pay taxes for 20 years? Dumbasses vote Dumbocrat.

 

[KissMy]

CIA contractors were paid $1,800 a day tax free

 

[Mikeoxenormous]

CIA contractors were paid $1,800 a day tax free

If these contractors were overseas performing the water boarding then yes they are paid tax free. GM which is a corporation, shouldn't they pay taxes like other corporations in America? Seems to me, when other companies off shored their profts so they didn't pay taxes, you libs were howling with rage. When Dictators start picking winners and losers, then pretty soon there wont be a choice left. That is always the way communism/fascism/socialism works. Double standards, without those, liberals would have no standards at all.

 

[TNHarley]

Lefties are always bitching about redistribution to the wealthy when this is ALL THIS WAS. We lost BILLIONS of dollars to bail out a company that only employed 70K Americans. That company has more than DOUBLE the employees in OTHER countries
Then you have "too big to fail"
Clinton de-regulated the financial industry. Robert Rubin, his treasury sec fully supported GLBA. Shortly after that corporatist monstrosity was signed, rubin left the administration to join a high ranking position(CFO I THINK) at CITI bank. Then, shortly after the bailout, he quit there with a nice 125 million dollar bonus.
THINK people

 

[baileyn45]

Those that think allowing GM to go bankrupt would have been the end of the US auto industry are wrong. GM has filed and reorganized in the past. Propping up inefficient concerns just prolongs the inevitable. The question now is when do we get to this again?

I heard some one say that "capitalism without bankruptcy is like Catholicism without hell".

 

[KissMy]

CIA contractors were paid $1,800 a day tax free

If these contractors were overseas performing the water boarding then yes they are paid tax free. GM which is a corporation, shouldn't they pay taxes like other corporations in America? Seems to me, when other companies off shored their profts so they didn't pay taxes, you libs were howling with rage. When Dictators start picking winners and losers, then pretty soon there wont be a choice left. That is always the way communism/fascism/socialism works. Double standards, without those, liberals would have no standards at all.

You are clueless about taxes. There is no double standard, Buffet pays taxes on his take home dividends & earnings. Republicans allow Rich dividend beneficiaries to use "carried interest" & only pay 12% tax & no payroll taxes. Democrats have been trying to fix this for 20 years, but Republicans won't allow it. Working people pay triple the tax rate of the Rich & Republicans keep hiking payroll taxes on workers while cutting them on Rich people. Republicans create inflation to tax working people & make the Rich richer!

You just condoned Bush taking taxes from workers & paying $40 million of it to a person tax free because it was overseas. Talk about double standards you hypocrite.

 

[Mikeoxenormous]

CIA contractors were paid $1,800 a day tax free

If these contractors were overseas performing the water boarding then yes they are paid tax free. GM which is a corporation, shouldn't they pay taxes like other corporations in America? Seems to me, when other companies off shored their profts so they didn't pay taxes, you libs were howling with rage. When Dictators start picking winners and losers, then pretty soon there wont be a choice left. That is always the way communism/fascism/socialism works. Double standards, without those, liberals would have no standards at all.

You are clueless about taxes. There is no double standard, Buffet pays taxes on his take home dividends & earnings. Republicans allow Rich dividend beneficiaries to use "carried interest" & only pay 12% tax & no payroll taxes. Democrats have been trying to fix this for 20 years, but Republicans won't allow it. Working people pay triple the tax rate of the Rich & Republicans keep hiking payroll taxes on workers while cutting them on Rich people. Republicans create inflation to tax working people & make the Rich richer!

You just condoned Bush taking taxes from workers & paying $40 million of it to a person tax free because it was overseas. Talk about double standards you hypocrite.

I am just pointing out how you libtards cry fowl when people don't "PAY THEIR FAIR SHARE" but when liberals get away with it, then you only bash liberal Republicans for doing the same thing. Try looking in the mirror next time you type hypocrite, for you libs are the winners(or whiners) in that category. Dumbasses vote Dumbocrat.

 

[Mikeoxenormous]

CIA contractors were paid $1,800 a day tax free

If these contractors were overseas performing the water boarding then yes they are paid tax free. GM which is a corporation, shouldn't they pay taxes like other corporations in America? Seems to me, when other companies off shored their profts so they didn't pay taxes, you libs were howling with rage. When Dictators start picking winners and losers, then pretty soon there wont be a choice left. That is always the way communism/fascism/socialism works. Double standards, without those, liberals would have no standards at all.

You are clueless about taxes. There is no double standard, Buffet pays taxes on his take home dividends & earnings. Republicans allow Rich dividend beneficiaries to use "carried interest" & only pay 12% tax & no payroll taxes. Democrats have been trying to fix this for 20 years, but Republicans won't allow it. Working people pay triple the tax rate of the Rich & Republicans keep hiking payroll taxes on workers while cutting them on Rich people. Republicans create inflation to tax working people & make the Rich richer!

You just condoned Bush taking taxes from workers & paying $40 million of it to a person tax free because it was overseas. Talk about double standards you hypocrite.

As for clueless about taxes, you goosestepping, koolaid drinking, low information, mindnumbed, useful idiots keep voting for the same people, who turn around and screw you new assholes. John Kerry Saves $500,000 By Docking 76-Foot Luxury Yacht Out Of State

If the "Isabel" were kept at the 2004 Democratic presidential nominee's summer vacation home on Nantucket, or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes.

Do as the liberal says, not as the liberal does. Maybe if you liberals got your heads out of your asses, you might see who the real enemies of America are.