I thought GM had paid us back Libs, another Obama lie?

[BlindBoo]

No another SOS talking point. The loan was paid back. The stock the Gov. owns, if sold off right now would still result in a huge loss. If I remember correctly the price of the stock need to be around 50 buck per share to break even. Today it's trading around 31.

 

[Robert]

wait- you're telling me they repaid the loan out of the lowest-interest bearing account they have access to? Saved less restricted funds for other activities?

shocking, I tell ya! Shocking!

What the **** do you think the point of that claim is?

Wow its that hard to understand is it? They used Tarp funds to Repay a small potion of the loan and then claimed they paid back the entire thing....... Ya I know its hard for you to wrap that little noggin around just doing my bit to help ya.

Apparently it IS that hard to understand because you don't get it. They used an escrow account to pay back the 5+/-B tarp loan. Why would they use profits or anything else when they can use an extremely low interest escrow while using five straight quarterly profits to expand operations?

Wow not exactly a rocket scientist are you nobody cares which funds they used but people did get a little touchy with them saying they had paid back the loans when in fact they hadn't. Was it really that hard for you?

 

[8537]

They didn't survive without handouts.

If GM collapsed, Ford would have gone too.

Yeah, less competition would have destroyed them...


ROFL

The utter bullshit your fascists peddle is hilarious in the over-the-top absurdity.

It's not the lack of competition that would have hurt Ford.

It was the lack of supply chain that a collapse of GM would have created.

The utter bullshit you minsinformed simpletons peddle is hilarious.

 

[Robert]

No another SOS talking point. The loan was paid back. The stock the Gov. owns, if sold off right now would still result in a huge loss. If I remember correctly the price of the stock need to be around 50 buck per share to break even. Today it's trading around 31.

So GM still owes the US tax payer until that stock can be sold...... That's all that needs to be said

 

[CandySlice]

Nope.

100% unmitigated success.

The United States was on the verge of losing it's auto manufacturing base.

So Ford and all the rest Survived how without the handout's?

They didn't survive without handouts.

If GM collapsed, Ford would have gone too.

It's amazing how little some people know how these things work.

Good for me..by the way..I invested in Ford and made a killing..

Amazing ideed. I also have F as well as GM stock. Not too shabby. Also got into BP when they were on the ropes. Good investment, that.

 

[Uncensored2008]

So a better outcome would have been having the auto industry collapse and having former tax payers on un-employment lines?

GM was not a solvent business and continues in insolvent business practices. A market depends on poor performers being weeded out just as much as upon solid performers thriving. In order to promote the UAW, trillions were looted from taxpayers. The result is a fascist conglomerate of the federal government (true fascism, for the democrats in the audience) and General Motors.

The best outcome for the economy would have been to let the taxpayers keep their money and GM to live within the realities of their business practices. Instead, trillions were added to the national debt, further undercutting the value of the American dollar on the world market whilst promoting inefficient and unsustainable business practices.

GM got a break with the Japan Earthquake, their competitors are severely damaged. This will give them breathing room. But the typical UAW practices will ensure that such respite is short lived.

 

[8537]

Wow not exactly a rocket scientist are you nobody cares which funds they used

Well, everyone...except you. and the people at Reason.

You know where the money in the escrow account held by treasurycame from, right Robert?

Right?

hint: It wasn't part of the TARP fund.

 

[CandySlice]

So a better outcome would have been having the auto industry collapse and having former tax payers on un-employment lines?

GM was not a solvent business and continues in insolvent business practices. A market depends on poor performers being weeded out just as much as upon solid performers thriving. In order to promote the UAW, trillions were looted from taxpayers. The result is a fascist conglomerate of the federal government (true fascism, for the democrats in the audience) and General Motors.

The best outcome for the economy would have been to let the taxpayers keep their money and GM to live within the realities of their business practices. Instead, trillions were added to the national debt, further undercutting the value of the American dollar on the world market whilst promoting inefficient and unsustainable business practices.

GM got a break with the Japan Earthquake, their competitors are severely damaged. This will give them breathing room. But the typical UAW practices will ensure that such respite is short lived.

Well said. I look at the unions the same way I look at the ACLU. It was a good idea at the time but their time has come and gone.

 

[Uncensored2008]

It was the lack of supply chain that a collapse of GM would have created.

Further evidence that leftists have no concept of business.

So in your alleged mind, Ford and GM both go down to "Transmissions R Us" and pick up parts off the shelf to put cars together?

Say Sparky, which of these would have "collapsed" due to GM going into receivership?

List of Ford factories - Wikipedia, the free encyclopedia

Also, do you think their is any chance Toyota, Hyundai or Ford might have actually bought GM? In fact, wasn't the REAL fear that Hyundai was going to buy them and run it as a non-union company?

 

[BlindBoo]

No another SOS talking point. The loan was paid back. The stock the Gov. owns, if sold off right now would still result in a huge loss. If I remember correctly the price of the stock need to be around 50 buck per share to break even. Today it's trading around 31.

So GM still owes the US tax payer until that stock can be sold...... That's all that needs to be said

No. GM owes the tax payers nothing. The US Government bought a large amount of GM stock to infuse capital into the company. The Government can sell it's shares if it wants to, but that would be on the open market not something that GM has to buy?

 

[Leweman]

Why couldnt have the other auto companies take over the marketshare? Or another company bought GM after bankruptcy as opposed to the government doing it?

 

[Cuyo]

GM's Profits are Still a Huge Net Loss For Taxpayers - Megan McArdle - Business - The Atlantic
This is a good story and a very bad event.
The GOP is going to have a field day with this stuff in 2012

This has been covered.

Technically speaking, GM does not owe the government money. They have an ownership stake. Same as if you buy stock in Microsoft, Microsoft does not "Owe you money." It doesn't work that way.

If the government sold today they'd lose in the range of $6-$10B. But the purpose of the rescue was not to turn a profit. It was to save 200-some-odd thousand manufacturing jobs for the U.S. It appears the taxpayer will ultimately make a profit, but that wasn't the motivation.

The move was necessary and successful.

 

[Cuyo]

Why couldnt have the other auto companies take over the marketshare? Or another company bought GM after bankruptcy as opposed to the government doing it?

No private investors had the means nor the inclination to do so.

 

[Cuyo]

No another SOS talking point. The loan was paid back. The stock the Gov. owns, if sold off right now would still result in a huge loss. If I remember correctly the price of the stock need to be around 50 buck per share to break even. Today it's trading around 31.

So GM still owes the US tax payer until that stock can be sold...... That's all that needs to be said

No, they don't, as I've outlined above.

The stock can be sold today. But why would the taxpayer take a loss when they're poised to make a profit?

 

[JRK]

Nope.

100% unmitigated success.

The United States was on the verge of losing it's auto manufacturing base.

What?
how can you say that?
Why are they different than Toyota?
They build there vehicles in the US and get there parts in Japan

 

[JRK]

No another SOS talking point. The loan was paid back. The stock the Gov. owns, if sold off right now would still result in a huge loss. If I remember correctly the price of the stock need to be around 50 buck per share to break even. Today it's trading around 31.

So GM still owes the US tax payer until that stock can be sold...... That's all that needs to be said

No, they don't, as I've outlined above.

The stock can be sold today. But why would the taxpayer take a loss when they're poised to make a profit?

Cuyo
Did you not read the link?
every-one knows its he truth
Why go to that level of denial?

 

[EriktheRed]

GM's Profits are Still a Huge Net Loss For Taxpayers - Megan McArdle - Business - The Atlantic
This is a good story and a very bad event.
The GOP is going to have a field day with this stuff in 2012

Megan McArdle's a crappy source.

 

[Uncensored2008]

No. GM owes the tax payers nothing. The US Government bought a large amount of GM stock to infuse capital into the company.

Ah, not the taxpayer, but our rulers?

We are but assets to be used as Dear Leader sees fit, right?

 

[Meister]

GM paid back the loan. The government still has equity in the company.

^Neither of those is a lie.

Kind of like a pea and shell game, isn't it?

 

[EriktheRed]

The GOP is going to have a field day with this stuff in 2012

They're gonna be too busy defending their anti-Medicare votes to worry about something that's really not a failure.