GM highest profits EVER

[Cuyo]

thats alot of jobs and taxes paid.

Im glad we didnt listen to the idiots that wanted it to die

When is GM going to repay the $30 billion it owes the federal govt? Also, when are the bond holders and stock holders going to get the money Obama robbed them of?

They don't owe the government money. The government holds an ownership stake which is currently undervalued, but by definition there is no debt for them to "repay."

 

[starcraftzzz]

Corporate Welfare is wrong. Period, end of story.

Saving/creating 1.5million jobs isn't wrong

 

[Misty]

GM is exempt from corporate taxes for the next 10-20 years. No wonder they can show a profit.

"It (GM) won't have to pay $45.4 billion in taxes on future profits.

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. In GM's case, the losses stem from years prior to when GM entered bankruptcy."

GM Could Be Free of Taxes for Years - WSJ.com

 

[Misty]

GM employs 82000 people in the USA compared to 92000 in 2008.

 

[bripat9643]

thats alot of jobs and taxes paid.

Im glad we didnt listen to the idiots that wanted it to die

When is GM going to repay the $30 billion it owes the federal govt? Also, when are the bond holders and stock holders going to get the money Obama robbed them of?

Its already repaid over half of the money. You'd know that if your head wasn't lodged all the way up your ass

Wrong, asshole. The government still owns $30 billion worth of GM stock. This was, in effect, I pure gift to GM. The federal government will never be able to sell that stock.

 

[sealybobo]

Thanks to George Bush.

From wiki;

"In December 2008, U.S. President George W. Bush agreed to a $17.4 billion bailout for General Motors and Chrysler. The financing came from the $700 billion fund known as the TARP.[4] General Motors emerged from a Chapter 11 reorganization in 2009, with an initial public offering that was one of the world`s top 5 largest IPOs to date."

Very true.

It was at the point that Bush became a kensyen, remember hearing "Were all Kensyans now"?


It was the right thing to do.

Obama followed through with the plan and now the right LIES about it daily

The right didn't want the government to get involved. Or at least that is the position that they felt was best politically. Bush proved that any of them would have bailed out the bankers. No matter how liberal or conservative the president, the bankers were going to get theirs.

But I do believe the GOP when they say they wanted the American auto companies to fail because they hate their unions. They make too much money and if they break the unions, they know that will hurt democrats.

Mitt Romney and I'm sure Rick Santorum too wanted GM to go bankrupt. That's because they don't like American wages. We all make too much. Middle class Americans that don't know the importance of unions need to wake up. As they go, so do we.

Same reason they are going after government union workers. Teaches, police, firefighters all make too much but CEO's should make 500x that of the average worker? They don't see what's wrong with that?

Middle class Republicans must not realize this is or will eventually hurt them too. But it already has and still they defend the GOP for whatever reasons. God, gays and guns usually. Or they have been brainwashed to think liberals are bad. Meanwhile, every benefit the have at work is something that a union faught for and won first. The companies didn't want to pay for any of that shit. Not sick days, vacation days, healthcare, nothing. But because union workers were getting those things, so were we.

Unions made up 35% of the workforce, today 12%. They say we don't need unions or that unions are bad. No coincidence that as unions numbers declined, so did our wages. Factor inflation in and we haven't got a raise in 20 years. But the rich have never been richer.

Republicans don't care about facts. A highly paid middle class fixes an economy, not trickle down. The gab between the rich and poor is too wide. Republicans don't like to talk about this. Their policies work for them but are catastrophic for the American middle class.

 

[sealybobo]

Didn't the Government recommend a change at the top? Keep such a large manufacturer is nothing but good for the long term, considering the consequenses of our foriegn interventions.

Latest GM Management Shakeup Means the Company is No Longer Bob Lutz Inc. - CBS News

Keeping those gold plate union contracts was not a good thing, especially for the long term.

Righties hate it when middle class Americans make a good living. Attacking police, teachers and auto workers for "making too much" but then the CEO should get a $20 million dollar raise? This is why unions are important. In a union, profits get spread fairly. Instead of a $20 million dollar bonus the CEO only gets $10 million. Cry me a river that you have to share the profits with the workers.

Notice non union companies haven't given us a raise in 20 years. Based on inflation, we make the same as we did in the 70's. But the rich have never been richer. So why are the rich crying exactly?

Are you Mitt Romney rich? Great, then vote for him. If you are not, you are a traitor to your class.

Divide and conquer. First the unions make too much, then teachers and police and firefighters and all government workers. Eventually, even you make too much.

Or are you above this? If so, great, vote for Romney. But its a greedy mentality. Mitt pays 12% and I pay 35%? That's insanity and greed.

Do you think when you eliminated 10 million jobs that all these people flooding the job market wouldn't bring wages down? But you righties seem to suggest that you understand economics.

 

[Cuyo]

GM is exempt from corporate taxes for the next 10-20 years. No wonder they can show a profit.

"It (GM) won't have to pay $45.4 billion in taxes on future profits.

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. In GM's case, the losses stem from years prior to when GM entered bankruptcy."

GM Could Be Free of Taxes for Years - WSJ.com

Corporate taxes, or lack thereof, also do not impact 'Profit.'

 

[Jroc]

GM is exempt from corporate taxes for the next 10-20 years. No wonder they can show a profit.

"It (GM) won't have to pay $45.4 billion in taxes on future profits.

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. In GM's case, the losses stem from years prior to when GM entered bankruptcy."

GM Could Be Free of Taxes for Years - WSJ.com

Where's the liberal outrage? No taxes? I guess you've got to be in the union to get any sympathy from the libs...

GM plans to freeze salaried workers' pensions


DETROIT - General Motors Co. (GM) plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort to hold down expenses, officials announced Wednesday.


The Detroit-based automaker said roughly 19,000 salaried workers hired before 2001 will move from a traditional pension with guaranteed payments to a 401(k)-type plan with contributions based on salary and bonuses. Employees hired after 2001, which represent about 30 percent of the company's salaried workforce, already are in that defined contribution plan.

The changes take effect Oct. 1, and workers will keep all pension benefits they have already accrued, officials said.

GM also said it would offer bonuses to all 26,000 salaried employees and release the amounts when it announces quarterly and full-year earnings Thursday. The company is expected to post a 2011 net profit of around $8 billion -- the best in its 103-year history.

GM vice president of global human resources Cindy Brinkley said the changes are geared toward increasing profitability and reducing risk.

GM plans to freeze salaried workers' pensions - CBS News

 

[Skull Pilot]

GM records its highest profit ever: $7.6 billion - Washington Times

Good then they can pay back the taxpayers and tell Bam Bam that they don't need to bribe people with tax credits to buy their cars.

 

[Cuyo]

GM is exempt from corporate taxes for the next 10-20 years. No wonder they can show a profit.

"It (GM) won't have to pay $45.4 billion in taxes on future profits.

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. In GM's case, the losses stem from years prior to when GM entered bankruptcy."

GM Could Be Free of Taxes for Years - WSJ.com

Where's the liberal outrage? No taxes? I guess you've got to be in the union to get any sympathy from the libs...

GM plans to freeze salaried workers' pensions


DETROIT - General Motors Co. (GM) plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort to hold down expenses, officials announced Wednesday.


The Detroit-based automaker said roughly 19,000 salaried workers hired before 2001 will move from a traditional pension with guaranteed payments to a 401(k)-type plan with contributions based on salary and bonuses. Employees hired after 2001, which represent about 30 percent of the company's salaried workforce, already are in that defined contribution plan.

The changes take effect Oct. 1, and workers will keep all pension benefits they have already accrued, officials said.

GM also said it would offer bonuses to all 26,000 salaried employees and release the amounts when it announces quarterly and full-year earnings Thursday. The company is expected to post a 2011 net profit of around $8 billion -- the best in its 103-year history.

GM vice president of global human resources Cindy Brinkley said the changes are geared toward increasing profitability and reducing risk.

GM plans to freeze salaried workers' pensions - CBS News

It's a non-sequitur, and your contemporary is a simpleton.

 

[Cuyo]

GM records its highest profit ever: $7.6 billion - Washington Times

Good then they can pay back the taxpayers and tell Bam Bam that they don't need to bribe people with tax credits to buy their cars.

Are you paying attention? There's nothing to 'pay back.'

 

[Liberty]

Socialized risk and esoteric gain?

 

[Skull Pilot]

GM records its highest profit ever: $7.6 billion - Washington Times

Good then they can pay back the taxpayers and tell Bam Bam that they don't need to bribe people with tax credits to buy their cars.

Are you paying attention? There's nothing to 'pay back.'

So you're saying the government owns no more GM stock that was purchased with taxpayer dollars?

http://www.local10.com/news/money/Still-fighting-over-GM-s-bailout/-/1717308/8794282/-/ai9892z/-/

And, particularly in the case of GM, it seems unlikely the taxpayer will be made whole anytime soon. Treasury holds 500 million shares of GM stock, those represent about one third of the company and if sold at today's prices, they would be worth about $13 billion.

The stock would need to roughly double in price for taxpayers to break even. Analysts predict a much more modest rise in the stock price in 2012.

Seems to me that GM owes us a shit load of dough.

 

[Cuyo]

Good then they can pay back the taxpayers and tell Bam Bam that they don't need to bribe people with tax credits to buy their cars.

Are you paying attention? There's nothing to 'pay back.'

So you're saying the government owns no more GM stock that was purchased with taxpayer dollars?

I'm saying they own undervalued stock, but there is no "debt" to "pay back."

However, if they continue to do as well as they are now, the stock will likely rebound. So from your vantage point, the best way to "Pay back" is to continue doing well.

 

[asaratis]

Why do you Lefties constantly feel a need for our approval for your Obama Fluffing?

They are scared shitless that the voting public has rightfully determined that he has done very little that is good for this country and very much that is bad for us.

They need to fluff his ass up to make him appear to be worth more than two dead flies.

 

[Jroc]

GM is exempt from corporate taxes for the next 10-20 years. No wonder they can show a profit.

"It (GM) won't have to pay $45.4 billion in taxes on future profits.

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. In GM's case, the losses stem from years prior to when GM entered bankruptcy."

GM Could Be Free of Taxes for Years - WSJ.com

Where's the liberal outrage? No taxes? I guess you've got to be in the union to get any sympathy from the libs...

GM plans to freeze salaried workers' pensions


DETROIT - General Motors Co. (GM) plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort to hold down expenses, officials announced Wednesday.


The Detroit-based automaker said roughly 19,000 salaried workers hired before 2001 will move from a traditional pension with guaranteed payments to a 401(k)-type plan with contributions based on salary and bonuses. Employees hired after 2001, which represent about 30 percent of the company's salaried workforce, already are in that defined contribution plan.

The changes take effect Oct. 1, and workers will keep all pension benefits they have already accrued, officials said.

GM also said it would offer bonuses to all 26,000 salaried employees and release the amounts when it announces quarterly and full-year earnings Thursday. The company is expected to post a 2011 net profit of around $8 billion -- the best in its 103-year history.

GM vice president of global human resources Cindy Brinkley said the changes are geared toward increasing profitability and reducing risk.

GM plans to freeze salaried workers' pensions - CBS News

It's a non-sequitur, and your contemporary is a simpleton.

Translated only UAW Jobs and pensions are important to the libs and GM still owes tax payers 20 billion dollars

 

[Skull Pilot]

Are you paying attention? There's nothing to 'pay back.'

So you're saying the government owns no more GM stock that was purchased with taxpayer dollars?

I'm saying they own undervalued stock, but there is no "debt" to "pay back."

However, if they continue to do as well as they are now, the stock will likely rebound. So from your vantage point, the best way to "Pay back" is to continue doing well.

They owe the taxpayer the money used to buy the stock.

Sorry but the US government should not be making investment decisions with our money. You can see how badly they did with GM as the stock is worth less than half what it was bought for.

 

[Cuyo]

It's a non-sequitur, and your contemporary is a simpleton.

Translated only UAW Jobs and pensions are important to the libs and GM still owes tax payers 20 billion dollars

What am I going to sit here and argue with you? Try to reason with someone who refuses reason?

There's no debate here. You're wrong, end of story.

 

[Cuyo]

So you're saying the government owns no more GM stock that was purchased with taxpayer dollars?

I'm saying they own undervalued stock, but there is no "debt" to "pay back."

However, if they continue to do as well as they are now, the stock will likely rebound. So from your vantage point, the best way to "Pay back" is to continue doing well.

They owe the taxpayer the money used to buy the stock.

They don't 'owe' the taxpayer, they 'are' the taxpayer. And no, they don't owe anything. They own undervalued stock, that's all.

When Icahn bought Yahoo and it tanked, did Yahoo 'owe' Icahn money?