U.S. Set to Sell Last of Its GM Stake

[usmcstinger]

In the final tally, the deal will have cost taxpayers about $10.4 billion, based on the company's current $38.12 share price. The U.S. so far has recouped $38.4 billion of the $50 billion initially invested and the coming sales would raise another $1.2 billion at the current share price.
U.S. Set to Sell Last of Its GM Stake

It appears that GM doesn't have to pay back the rest that they owe.

 

[Zoom-boing]

50K of that $10.4B was my dad's. Gone, gone, gone.

 

[Spiderman]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

 

[depotoo]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

hell, it's better to get something rather than nothing back.

 

[rightwinger]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

Bush gave GM loans without requiring stock

 

[Spiderman]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

Bush gave GM loans without requiring stock

And are the loans being paid back with interest?

 

[BullKurtz]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

 

[jknowgood]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

hell, it's better to get something rather than nothing back.

Go get your welfare check and be happy. Another obama failure.

 

[depotoo]

Only the idiots in the government would buy stock and think it's a good thing to sell it at a loss.

hell, it's better to get something rather than nothing back.

Go get your welfare check and be happy. Another obama failure.

uhmmmm, I am stating that I would rather they sell it now than lose everything we foolishly invested and received stock for...

I'm on the right.

 

[bitterlyclingin]

Just a reminder of one of the first acts of lawlessness this now legendarily lawless president engaged in after taking office. Also one part of the reason why the economy still remains moribund. Capital is the fuel that drives Capitalism. Obama stripped whatever Capital that could be conserved from the GM and Chrysler bankruptcies and turned it over to the UAW. Instead of the Capital's then being used to build new plants, buy new equipment , develope new product, or hire new workers, that Capital was used to purchase more Viagra for the unions members, its final product ending up as mere stains on the union members bedsheets.

Inside the Mayor of NYC's office during one of the final scenes of the movie "Ghost Busters" "Think of all the voters!"

As Venezuela goes, so goes America under Comrade Barack. How will Comrade barack solve the nation's upcoming toilet paper shortage?

 

[jknowgood]

hell, it's better to get something rather than nothing back.

Go get your welfare check and be happy. Another obama failure.

uhmmmm, I am stating that I would rather they sell it now than lose everything we foolishly invested and received stock for...

I'm on the right.

If it was such a great investment why not wait till the stock goes up and cash out when you don't lose any money?

 

[boedicca]

In the final tally, the deal will have cost taxpayers about $10.4 billion, based on the company's current $38.12 share price. The U.S. so far has recouped $38.4 billion of the $50 billion initially invested and the coming sales would raise another $1.2 billion at the current share price.
U.S. Set to Sell Last of Its GM Stake

It appears that GM doesn't have to pay back the rest that they owe.

It's worse than that. GM filed for bankruptcy, which should have voided the Net Operating Losses they carried on their balance sheet (and used to reduce their income taxes). The Obama Administration allowed them to keep the NOLs, and they are now paying far less income taxes than they should owe.

HopenChange!

 

[boedicca]

Go get your welfare check and be happy. Another obama failure.

uhmmmm, I am stating that I would rather they sell it now than lose everything we foolishly invested and received stock for...

I'm on the right.

If it was such a great investment why not wait till the stock goes up and cash out when you don't lose any money?

Well duh. Bankster Obama Supporters are going to buy the GM stock on the cheap and then make the profits.

 

[Redfish]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

Totally wrong. The GM and Chrysler bailouts were to save the UAW and pay them back for helping elect obama.

If the car companies had gone through a structured bankruptcy, those huge inefficient companies would have been broken up into smaller more cost effective companies.

The problem was that each of those new companies would have had a union representation vote----the UAW could not take the chance that it might lose thousands of paying members so they begged obama to do the bailout and save their asses.

and we the taxpayers are paying for it--------this is corruption and bribery of the worst kind.

 

[depotoo]

Go get your welfare check and be happy. Another obama failure.

uhmmmm, I am stating that I would rather they sell it now than lose everything we foolishly invested and received stock for...

I'm on the right.

If it was such a great investment why not wait till the stock goes up and cash out when you don't lose any money?

You really want us to wait until they end up bankrupt again and we then lose even more on it? My whole point is it wasn't a great investment. And this administrations control over it, is only hampering it even more, if that is even possible.

The Government's Bailout Of General Motors Is Strangling GM - Forbes

 

[Moonglow]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

Most civilians do not understand why auto companies are helped so much by the govt. You are the first to note that these places during war would produce tanks, armored personnel carriers, etc.
pos rep 4 u.

 

[BullKurtz]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

Totally wrong. The GM and Chrysler bailouts were to save the UAW and pay them back for helping elect obama.

If the car companies had gone through a structured bankruptcy, those huge inefficient companies would have been broken up into smaller more cost effective companies.

The problem was that each of those new companies would have had a union representation vote----the UAW could not take the chance that it might lose thousands of paying members so they begged obama to do the bailout and save their asses.

and we the taxpayers are paying for it--------this is corruption and bribery of the worst kind.

Bullshit. I'm from Detroit, spent a summer on the line at Saginaw Steering Gear....you don't get any of this, especially the economy of scale. And you might want to remember the jap plants built in the South were financed by TAXPAYER DOLLARS and if the UAW had gone under, those workers would be on minimum wage. Today we have a million tax paying Americans employed and spending their wages with other American workers instead of new rice-burner skyscrapers thanks to the auto bailout. Your bitching is old and proved worthless.

 

[Moonglow]

When Reagan deregulated the oil industry my Papa lost every cent on Philips Petroleum.

 

[Claudette]

The bailout was all about their mismanaged pension funds.

They went bankrupt even after that loan something that should have happened without taxpayer dollars being spent.

They saved the pension funds but if any taxpayer thinks GM is going to payback that money, they can think again.

Another screwing for the taxpayer by the guy who brought you Solyndra.

 

[BullKurtz]

GM is again building world-class cars and trucks and we maintained our ability to mass-produce tanks and trucks for the next world war. Sam would have paid more than the stock price loss in unemployment benefits. I'm sorry about the old GM stockholders but c'mon.....years of red ink should have been enough warning to get out. I despise Obama but he gets a bushel of arugula for guiding GM and Chrysler out of the woods......if they'd failed, Ford would have too and then we'd have been at the mercy of the japs and koreans for our transportation.....that couldn't happen.

Most civilians do not understand why auto companies are helped so much by the govt. You are the first to note that these places during war would produce tanks, armored personnel carriers, etc.
pos rep 4 u.

Detroit was called "The Arsenal For Democracy" during the war by turning the auto plants into production of tanks, half-tracks, trucks, and weaponry. This generation grew up believing the Madison Ave hype of the superiority of jap crap furthered by the feminists demanding "reliable transportation" so they wouldn't end up on the side of the road going to the job they took from a man trying to feed his family. Consumer Reports led the charge fueled by millions of phony subscriptions from the Japanese government, which incidentally funds all the R&D for the major jap auto builders. That amounts to a lot more than Sam traded to keep the Big Three solvent. Shitty looking formless little piles of tin riveted together, with bad paint and runaway throttle-advance software. Those bitching the loudest are those who drive jap crap knowing they've cost an American a job. And before they squeal they are "made in America", they are ASSEMBLED in the southern states. The money in the auto business is who builds the engines and drive-trains, not who rivets the body to the chassis.