Government to Sell GM Stock at a Big Loss

[Rshermr]

I would say a hell of a bargain.

compared to what?? A normal bankruptcy for GM would have made them leaner and better and gotten rid of the high priced liberal unions. They are losing share here every day and making no money so we really bailed out a company that is making all its profit in China, and, thanks to the most liberal tax rates in the world probably not bring any of the money back here.

Ed, stop trying to think. It must be hurting your head. Badly. And you make no sense at all.

 

[akelch]

I would say a hell of a bargain.

compared to what?? A normal bankruptcy for GM would have made them leaner and better and gotten rid of the high priced liberal unions. They are losing share here every day and making no money so we really bailed out a company that is making all its profit in China, and, thanks to the most liberal tax rates in the world probably not bring any of the money back here.

Ed, stop trying to think. It must be hurting your head. Badly. And you make no sense at all.

If you would like to comment on the topic, please do. Other wise, don't write anything.

 

[Skull Pilot]

One more thing the ******* government can't do very well.

Just add it to the other government "investments" that have cost us billions.

 

[akelch]

One more thing the ******* government can't do very well.

Just add it to the other government "investments" that have cost us billions.

But yet the people want more.....sad.

 

[Stephanie]

Just wait for that good ole ObamaCare..

we tried to warn you..

 

[akelch]

Just wait for that good ole ObamaCare..

we tried to warn you..

I doubt they will make the connection between healthcare being more expensive and longer waits with the pass of Obamacare.

They just ask for more legislation to fix it.

 

[TNHarley]

Its "saving" the auto industry

It will end up increasing our debt and we will be taxed to pay for it.

Wow. 12.75 Billion. About two months in Iraq. I bet you were complaining about that to, eh. So, we shall see. Last guess was $35Bk, so it is going down. So, about $10K per job saved. And they ae all paying taxes. I would say a hell of a bargain.

Good liberal way of looking at things. Hope when they move to Mexico, They will stay be paying American taxes. Good logic, fool

 

[Rshermr]

It will end up increasing our debt and we will be taxed to pay for it.

Wow. 12.75 Billion. About two months in Iraq. I bet you were complaining about that to, eh. So, we shall see. Last guess was $35Bk, so it is going down. So, about $10K per job saved. And they ae all paying taxes. I would say a hell of a bargain.

Good liberal way of looking at things. Hope when they move to Mexico, They will stay be paying American taxes. Good logic, fool

So, Mr. Harley says:

They will stay be paying American taxes. Good logic, fool

So your sentence makes no earthly sense. Maybe you just need to understand the kings english.

So, what are you trying to say. That it would have been better to let the auto industry go away. Just let toyota, honda, vw, and so forth, have it? Yeah, that IS what you believe. But we live in a democratic country. Cons do not get to choose who wins and who looses. And, had you noticed, the people rejected people like you, in this past election. Because they recognized you as a dipshit.

 

[usmcstinger]

Its "saving" the auto industry

It will end up increasing our debt and we will be taxed to pay for it.

Why are you using future tense? We pretty much just gave the fuckers 12+ billion dollars. Enjoy your mexican chevy, fucknuts

It gets better: The Treasury Department said in a statement that it had recovered $11.2 billion of the $12.5 billion it lent to Chrysler and that it would write off the bulk of the balance. The unpaid portion is on the balance sheet of the “old Chrysler” — a collection of unwanted assets being liquidated in bankruptcy.
That, along with the reported claim that Chrysler had repaid in full its obligations to the U.S. Government back in May simply isn’t true:
U.S. Government Sells Chrysler Stake, Losses Higher Than Reported

More Government losses to come.

 

[Quantum Windbag]

The ( US Government )deal negotiated with GM for the 200 million shares will cut the U.S. stake to 19% but raise the price needed to break even on the remaining 300 million government shares to nearly $70.But the likely loss of billions of dollars by the time all government stock is sold off – at the $27.50 share price, the ultimate loss would amount to around $12.75 billion – will continue to fuel debate.
GM buys back stock; taxpayers may lose billions - Business on NBCNews.com

The House of Representatives should hold hearings with The Secretary of the Treasury ( Tim Geithner ) to explain this $12.75 Billion Government Loss. This loss will increase our National Debt and will be payed for by the Citizens of this nation.

I notice you missed the word 'may'.

I guess you think the word may in the headline trumps the word will in the article.

The automaker will pay $27.50 for the shares it will acquire, a 7.9% premium over the $25.49 closing price on December 18, 2012 – but that is also a sharp discount from the $33 price set during GM’s initial public offering in November 2010. And it means taxpayers will lose billions on the sale.

 

[Quantum Windbag]

Why would we sell at a loss? We can just hold the stock until the price increases.

In order to not sell the stocks at a loss we will have to wait until the stock rises to $53.98 a share. We are not waiting to do that because GM needs the shares to raise capital, but don't worry, we aren't selling all of them. By keeping some of the shares we might still get a profit, if the price goes up to about $70 a share.

The only way that will happen is if we go to war with Japan and wipe out Toyota, Honda, and Nissan.

 

[bestlink101]

one word, why??????

 

[Quantum Windbag]

So? Ten years is not a long time to wait for stock to mature.

Here's the deal. GM has higher labor costs than any other automaker, that is the main reason they went bankrupt in the first place. Instead of letting them go through a regular bankruptcy that would have let them deal with the union contracts and renegotiate a better deal, Obama stepped in and made sure the unions got to keep their contracts, and even gave them a share of the company. This made the underlying problem worse, and no one expects GM to make it to the 10 year mark without going through bankruptcy again. That process will immediately wipe all the present stock, leaving anyone who owns it, with nothing, just like it did this time.

 

[Quantum Windbag]

Its "saving" the auto industry

It will end up increasing our debt and we will be taxed to pay for it.

Wow. 12.75 Billion. About two months in Iraq. I bet you were complaining about that to, eh. So, we shall see. Last guess was $35Bk, so it is going down. So, about $10K per job saved. And they ae all paying taxes. I would say a hell of a bargain.

You are the reason we have this problem.

 

[Quantum Windbag]

I had no input on this GM Bailout of Obama's.
No one asked me shit - they just bailed these cocksuckers out.
Ford, Toyota, etc. - didn't ask for shit.
So where's my refund, Obama? My check??

You're moving more of my ******* money around now without asking me, the tens of millions of taxpayers for our opinion?

Your stupid ass should be tried, impeached.

Ford got a few billion.. Maybe 6 or 9? But they actually paid that shit back. **** obama and G.M.

Wow. Combined IQ of you two what, probably 96?

Which is an order of magnitude above yours.

 

[Rshermr]

Ford got a few billion.. Maybe 6 or 9? But they actually paid that shit back. **** obama and G.M.

Wow. Combined IQ of you two what, probably 96?

Which is an order of magnitude above yours.

that is always funny. Watching a really stupid person calling others stupid.

 

[Quantum Windbag]

Wow. Combined IQ of you two what, probably 96?

Which is an order of magnitude above yours.

that is always funny. Watching a really stupid person calling others stupid.

Is that why you do it so much?

 

[Politico]

Why would we sell at a loss? We can just hold the stock until the price increases.

They won't. That's what makes the thread so stupid.

 

[Quantum Windbag]

Why would we sell at a loss? We can just hold the stock until the price increases.

They won't. That's what makes the thread so stupid.

They are.

 

[asterism]

Why would we sell at a loss? We can just hold the stock until the price increases.

To get rid of the bad press. Take the loss now and pivot to it never being about finance, but about "saving the auto industry."