GM Bailout Looking like a win for Obama

[The T]

Like the buggy whip industry? Or the USPS?

Or any others? Sometimes you gotta let go. Nature abhores a vacuum...and things right themselves. WHY prolong failure? Especially at Taxpayer expense?

It was payback...pure and simple. Nothing will convince me otherwise. So you Statists just cease with the crap...

Dead on Revere.

Since we don't have the Jetcar yet..and most of the world still gets in autos to get from point a to point b..it would have been a really lousy idea to let this company fail.

And Statist? Please..Ayn Rand was a lousy writer.

And this has to do with the price of Tea in Zimbabwe...How?

 

[Flopper]

Government Motors Now 50% Less Governmenty Hot Air

President Obama described this as, “our disciplined commitment to exit this investment while protecting the American taxpayer,” which sounds great on the surface. But even under the most optimistic of circumstances, former head of the U.S. Automotive Task Force Steve Rattner said the government,”may lose $5 billion to $7 billion on its rescue of t he auto industry.”

And what will be required to achieve these modest losses? First of all, the government is contractually barred from selling any more stock for the next six months. And when they do, they’d better hope that G.M’s fortunes have shown an astounding turnaround.



That may prove to be quite a feat, particularly given the performance of their cousins at Ford, whose stock has struggled to get back to $16 per share without being burdened with the Government Motors moniker. And, of course, all of this fails to take into account the fact that people without jobs don’t tend to rush out and buy new cars.

It’s good to see the government slowly extricating itself from this situation, but the pie in the sky projections being rattled off by the Obama administration this week will likely strike many as a lot more vapor and a lot less Viper.

All of the above ignoring the question of weather jumping in to save the highest paid unskilled workers in the world was even legal in the first place... for Bush (or Obama).

Illegal Lending Practices - Reason Magazine

Not to mention that GM could have been on it's slow journey into two or three smaller companies building good cars that people actually want to buy rather than fixing the giant monster that we will just have to bail out again in a decade or two... or sooner.

What a waste!

And not for nothing but Obama did not create the mess in any way shape or form. (he just poured our future into making sure we have the same mess for a long long time to come)

A resurgent market for trucks saved GM's bacon, not Obama. All Obama gave them is an electric car nobody wants to buy and debt they can never pay back to American taxpayers.

Chevy Vote picked as Green Car of Year. GM is taking orders and it appears that the car that nobody wanted is in more demand than GM anticipated.

 

[loosecannon]

Chevy Vote picked as Green Car of Year. GM is taking orders and it appears that the car that nobody wanted is in more demand than GM anticipated.

That is "VOLT" not "vote" and GM is still shipping it's entire manufacturing capacity to China.

And Green car of the year hardly means it isn't an Edsel.

We will see how actual sales pan out.

Meanwhile the bail out of GM is a colossal failure.

 

[The T]

Chevy Vote picked as Green Car of Year. GM is taking orders and it appears that the car that nobody wanted is in more demand than GM anticipated.

That is "VOLT" not "vote" and GM is still shipping it's entire manufacturing capacity to China.

And Green car of the year hardly means it isn't an Edsel.

We will see how actual sales pan out.

Meanwhile the bail out of GM is a colossal failure.

Just as Onama's PORKULUS was and is.

 

[The T]

The 'VOLT' is a piece of shit car...built on a false premise. It is still powered by FOSSIL FUEL.

 

[NYcarbineer]

The rightwing herd decided on the day the GM 'bailout' happened that it would be labeled, by the right,

a failure. Nothing as insignificant as reality, or the truth, was ever going to alter that story.

 

[Stephanie]

Evidently...he does

Because he ordered them to push an electric car with a range of 30 miles?

Or because he gave them sweetheart tax breaks ($45b) to inflate their stock price?

Which one highlights Obama's prowess as an auto company executive?

No

Because he got them to pare down unprofitable companies, required workers and retirees to accept pay and benefit cuts, because he required executives to accept lower pay and because he stopped a panic that would have led to the collapse of the American auto industry

wow, all hail the Obama our mighty dictator.

 

[The T]

The 'VOLT' is a piece of shit car...built on a false premise. It is still powered by FOSSIL FUEL.

*Again*

 

[NYcarbineer]

Here's something Sean Hannity said about this in 2009:

HANNITY: I have only bought American cars in my life, and GM is a sponsor and has been through a couple of years on my radio show. They made the turnaround in my eyes many years ago, and one of the problems is that I think government has played a role up until this point in terms of dictating what kind of cars we can buy.

Bad energy policy. We're not energy independent. I think number one, CAFE standards, mileage standards, safety standards. They've already had an impact on the economy. What are they going to do now? They're going to let the environmentalists design the cars?

Is that funny? Yes. Why is it funny? Because at the very time Hannity said all that, all that trashing he does of car economy and environmentalism, etc.,

he was not just hawking GM on his radio show, he was SPECIFICALLY hawking the VOLT, and touting everything about it he is trashing in the quote above.

And, good for him, he got paid handsomely in both cases.

 

[The T]

Here's something Sean Hannity said about this in 2009:

HANNITY: I have only bought American cars in my life, and GM is a sponsor and has been through a couple of years on my radio show. They made the turnaround in my eyes many years ago, and one of the problems is that I think government has played a role up until this point in terms of dictating what kind of cars we can buy.

Bad energy policy. We're not energy independent. I think number one, CAFE standards, mileage standards, safety standards. They've already had an impact on the economy. What are they going to do now? They're going to let the environmentalists design the cars?

Is that funny? Yes. Why is it funny? Because at the very time Hannity said all that, all that trashing he does of car economy and environmentalism, etc.,

he was not just hawking GM on his radio show, he was SPECIFICALLY hawking the VOLT, and touting everything about it he is trashing in the quote above.

And, good for him, he got paid handsomely in both cases.

And so what? WHO Gives a shit of Hannity in this discussion other than you in an attempt to obfuscate carbonated?

That's right...NO ONE.

 

[Stephanie]

anyone else notice how thread this is titled?

It's a win for the Obama, NOT IT'S A WIN FOR THE AMERCIAN PEOPLE.

 

[mdn2000]

Its pretty sick reading the first two pages of this thread, perfect bickering, just as the government needs you to do, bicker, fight, hate one another, the politicians and media have created the perfect conditions to retain power and change the United States of America into a nice Marxist country.

Marxism, thats all it is, right under your nose, and the first two pages of this thread is a great example of what the people were doing while they lost their country, lost the lives of the future.

 

[hipeter924]

Its pretty sick reading the first two pages of this thread, perfect bickering, just as the government needs you to do, bicker, fight, hate one another, the politicians and media have created the perfect conditions to retain power and change the United States of America into a nice Marxist country.

Marxism, thats all it is, right under your nose, and the first two pages of this thread is a great example of what the people were doing while they lost their country, lost the lives of the future.

True Communists (not fake communists) wouldn't support the Democrats* or Republicans, as both parties are supported by corporations and the upper classes, whereas the Communist party is a workers movement, with the final goal of eliminating the upper class and creating a single class society with no government whatsoever. That never happened of course, much due to Lenin dying before he could really put the plan into action, Stalin put Trotsky to death along with his other political rivals, thus eliminating any hope of a democratic worker controlled communism desired by Lenin. During the break up of the soviet union, they tried to make it democratic but this simply resulted in corrupt self-serving politicians like Yeltsin taking over the country. So my view of cold war communism is good riddance, but despite it's faults I still favor communism over socialism as I never was one for half measures, you might as well go all the way.

*In fact Obama is hated equally by Communists as by the right (Obama is the image of liberal capitalism imposing American imperialism on the world), but CBS, MSNBC, BBC, CNN and much of the mainstream media don't want you to know that, watch Russia Today and you can find plenty of Communists hating on Obama.

 

[mdn2000]

Its pretty sick reading the first two pages of this thread, perfect bickering, just as the government needs you to do, bicker, fight, hate one another, the politicians and media have created the perfect conditions to retain power and change the United States of America into a nice Marxist country.

Marxism, thats all it is, right under your nose, and the first two pages of this thread is a great example of what the people were doing while they lost their country, lost the lives of the future.

True Communists (not fake communists) wouldn't support the Democrats* or Republicans, as both parties are supported by corporations and the upper classes, whereas the Communist party is a workers movement, with the final goal of eliminating the upper class and creating a single class society with no government whatsoever. That never happened of course, much due to Lenin dying before he could really put the plan into action, Stalin put Trotsky to death along with his other political rivals, thus eliminating any hope of a democratic worker controlled communism desired by Lenin. During the break up of the soviet union, they tried to make it democratic but this simply resulted in corrupt self-serving politicians like Yeltsin taking over the country. So my view of cold war communism is good riddance, but despite it's faults I still favor communism over socialism as I never was one for half measures, you might as well go all the way.

*In fact Obama is hated equally by Communists as by the right (Obama is the image of liberal capitalism imposing American imperialism on the world), but CBS, MSNBC, BBC, CNN and much of the mainstream media don't want you to know that, watch Russia Today and you can find plenty of Communists hating on Obama.

Yet a Democrat can be a Marxist, as a Republican can be a Marxist.

 

[hipeter924]

Its pretty sick reading the first two pages of this thread, perfect bickering, just as the government needs you to do, bicker, fight, hate one another, the politicians and media have created the perfect conditions to retain power and change the United States of America into a nice Marxist country.

Marxism, thats all it is, right under your nose, and the first two pages of this thread is a great example of what the people were doing while they lost their country, lost the lives of the future.

True Communists (not fake communists) wouldn't support the Democrats* or Republicans, as both parties are supported by corporations and the upper classes, whereas the Communist party is a workers movement, with the final goal of eliminating the upper class and creating a single class society with no government whatsoever. That never happened of course, much due to Lenin dying before he could really put the plan into action, Stalin put Trotsky to death along with his other political rivals, thus eliminating any hope of a democratic worker controlled communism desired by Lenin. During the break up of the soviet union, they tried to make it democratic but this simply resulted in corrupt self-serving politicians like Yeltsin taking over the country. So my view of cold war communism is good riddance, but despite it's faults I still favor communism over socialism as I never was one for half measures, you might as well go all the way.

*In fact Obama is hated equally by Communists as by the right (Obama is the image of liberal capitalism imposing American imperialism on the world), but CBS, MSNBC, BBC, CNN and much of the mainstream media don't want you to know that, watch Russia Today and you can find plenty of Communists hating on Obama.

Yet a Democrat can be a Marxist, as a Republican can be a Marxist.

Yeah, but quasi and false isn't the same as the real thing, if they were true Marxists they would work for free.

 

[Chris]

Much sooner than expect GM successfully floated it's initial public stock offering. The planned offering price of $29 a share was raised to $33 due to public demand. The stock closed up on it's first day of trading.

"American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing," Obama said, speaking of the government's $50 billion taxpayer-backed rescue of the venerable automaker. This public offering should reduce government ownership of GM stock by nearly a half. Full payoff is expected to come in about 5 yrs.

Since the bailout GM has racked up 3 billion in profits. GM states that they have significantly reduced their production cost increasing the profit margin.

The Center for Automotive Research estimated that aid to GM and Chrysler saved more than 1.1 million jobs in 2009 and 314,000 jobs this year.

I suspect that the GM bailout will not be a campaign issue in the upcoming presidential election.

Obama: GM stock sale a success for his policy - Yahoo! News
GM stock price up 3.6 percent on first day: five questions about the IPO - CSMonitor.com

Just like healthcare and Wall Street reform.....another win for Obama.

Who would have thought that GM could be turned around so quickly?

 

[hipeter924]

Much sooner than expect GM successfully floated it's initial public stock offering. The planned offering price of $29 a share was raised to $33 due to public demand. The stock closed up on it's first day of trading.

"American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing," Obama said, speaking of the government's $50 billion taxpayer-backed rescue of the venerable automaker. This public offering should reduce government ownership of GM stock by nearly a half. Full payoff is expected to come in about 5 yrs.

Since the bailout GM has racked up 3 billion in profits. GM states that they have significantly reduced their production cost increasing the profit margin.

The Center for Automotive Research estimated that aid to GM and Chrysler saved more than 1.1 million jobs in 2009 and 314,000 jobs this year.

I suspect that the GM bailout will not be a campaign issue in the upcoming presidential election.

Obama: GM stock sale a success for his policy - Yahoo! News
GM stock price up 3.6 percent on first day: five questions about the IPO - CSMonitor.com

Just like healthcare and Wall Street reform.....another win for Obama.

Who would have thought that GM could be turned around so quickly?

Just wait till it goes back to its old ways, collapses again and asks for a bailout.

 

[Chris]

Much sooner than expect GM successfully floated it's initial public stock offering. The planned offering price of $29 a share was raised to $33 due to public demand. The stock closed up on it's first day of trading.

"American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing," Obama said, speaking of the government's $50 billion taxpayer-backed rescue of the venerable automaker. This public offering should reduce government ownership of GM stock by nearly a half. Full payoff is expected to come in about 5 yrs.

Since the bailout GM has racked up 3 billion in profits. GM states that they have significantly reduced their production cost increasing the profit margin.

The Center for Automotive Research estimated that aid to GM and Chrysler saved more than 1.1 million jobs in 2009 and 314,000 jobs this year.

I suspect that the GM bailout will not be a campaign issue in the upcoming presidential election.

Obama: GM stock sale a success for his policy - Yahoo! News
GM stock price up 3.6 percent on first day: five questions about the IPO - CSMonitor.com

Just like healthcare and Wall Street reform.....another win for Obama.

Who would have thought that GM could be turned around so quickly?

Just wait till it goes back to its old ways, collapses again and asks for a bailout.

Just wait till a meteor crashes into the earth and destroys all life.

 

[elvis]

Just like healthcare and Wall Street reform.....another win for Obama.

Who would have thought that GM could be turned around so quickly?

Just wait till it goes back to its old ways, collapses again and asks for a bailout.

Just wait till a meteor crashes into the earth and destroys all life.

wait I thought global warming was going to do that.

 

[hortysir]

As the right wing revision of history begins!

A bankruptcy proceeding in Feb 2009 would have led to a destruction of the US Auto Industry. Nobody......Nobody was willing to buy into the US Auto industry. It was offered to Fiat, Toyota, VW...nobody wanted to put up the money

Except the US Govt who saved the US Auto Industry

You give too much credit to GM.
So what if one auto maker goes bankrupt due to their own poor business practices.

GM does not equal the "the US Auto Industry".
You listed other manufacturers like Toyota and Fiat. They may not be US companies but they do contribute to the afore mentioned "US Auto Industry". As does Ford and several others.

When all was said and done the world wouldn't be worse of without a few more Malibus on the roads.
The world wouldn't have imploded without GM. They could have, like dozens of other companies, went through a restructuring bankruptcy and came out ahead without my tax dollars.