Mikeoxenormous
Diamond Member
U.S. government says it lost $11.2 billion on GM bailout | Reuters
Why GM CEO Mary Barra killed Chevrolet cars, approved likely plant closuresThe U.S. government lost $11.2 billion on its bailout of General Motors Co (GM.N), more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.
As I have said many times before, when you have vehicles being built by Unions, then you can never have a quality car only a car that satisfies the contract, no more, no less, mediocre. With promises of outrages compensation packages to these lazy slimeball "workers"(as Obama loves to call them) when your profits dont exceed your promises, soon economics 101 catches up to you. I warned people that GM took the bailout because it would of been gone long ago, but instead paid off the union buddies, abandoned the stockholders and any Republican owned dealership. Once again, I have been proven right, GM is a worthless company that still owes US billions of dollars we will never see.She saw what happens when a major, bloated corporation fails to take decisive action, admit its mistakes and pivot toward the future.