Stunning Reversal. GM Reclaims Title as #1 Carmaker (Ron Paul, suspect, Canada)
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may I have my share of the stock purchased with my tax dollars?
I'd also like all the money back I have paid in taxes, but I understand that it doesn't work that way. Sometimes, when you pay too much, you get some back in form of tax-return, but other than that, it is pretty much gone.
Okay! the report did say that normally, foreign sales don't generate as much revenue as sales in the US, but then I didn't find it breaking-down for us what parts of the world these supposed huge sales came from.
Did I miss it? Or, do I have to take that comment to mean they were implying that foreign sales are what account for this huge increase?
I think so, and I think it is hilarious. We have the first Communist president that threw huge money at GM, and it's such a funny coinkydink that GM now stands for "Government Motors."
I want to know how much of this supposed, huge increase in sales is thanks to Communist Countries buying autos from their new comrade, BO.
I wonder if Time will mention this in their little article............
"Treasury spent $49.5 billion to help see the automaker through its 2009 bankruptcy reorganization, leaving the U.S. with 61% of the company. Even after taking into account Treasury's proceeds from GM's record IPO and federal loans that the company has repaid, taxpayers are still out about $25.5 billion.
That means the stock would have to more than double from today's price, to about $51 per share, for taxpayers to break even.
At the time of the IPO, many people expected Treasury would try to sell its remaining stake by the end of 2011, if for no other reason than to close the books on the deal before the president's re-election effort got underway."
Or the fact that thousands were left without jobs and bond holders money stolen basically. Nah that won't fit the narrative. Or that the union was handed a 20% stake in the company or the fact that if they would have went through bankruptcy they would be where they are now most likely but the taxpayers wouldn't be left holding the bag.
“General Motors Co.’s initial public offering showed that while U.S. President Barack Obama’s administration may lose billions on the auto-industry bailout, the national budget and economy might be better off for it.
The U.S. sold almost half of its stake in the nation’s largest automaker for $33 a share — about $10 less than it needs to break even. The remaining shares will need to sell for about $20 higher to make up the difference.
...
That may go down as a bargain. The U.S. would have lost $28.6 billion in spending on social services and missing tax revenue if not for the bailout of GM, its former lending arm and Chrysler Group LLC, according to a study released Nov. 17 by the Center for Automotive Research in Ann Arbor, Michigan.
“GM ends up an economic contributor to the U.S. economy,” said Barry Ritholtz, author of “Bailout Nation” and chief executive officer of New York investment research firm FusionIQ. “It’s manufacturing products, it’s creating jobs, it’s buying wholesale parts, it’s doing what an industrial company is supposed to do.”
You lose reputation when you refer to bond holder loses as "theft." They would have lost their money anyway had GM disappeared. In bankruptcy, stockholders and bondholders lose their equity. That's capitalism.
Look at the date of your article compared to mine and explain to me how we're still holding that stock at $21 dollars a share and still out 25 billion????
Okay! the report did say that normally, foreign sales don't generate as much revenue as sales in the US, but then I didn't find it breaking-down for us what parts of the world these supposed huge sales came from.
Did I miss it? Or, do I have to take that comment to mean they were implying that foreign sales are what account for this huge increase?
I think so, and I think it is hilarious. We have the first Communist president that threw huge money at GM, and it's such a funny coinkydink that GM now stands for "Government Motors."
I want to know how much of this supposed, huge increase in sales is thanks to Communist Countries buying autos from their new comrade, BO.
Well, I'm not a fan (all 3 of my GM vehilces were lemons), but it's good to see that GM is off of life support.
By and large, all modern cars are built equally well. While I sympathize for your plight, there's no statistics out there that show that your 'lemons' were anything but a fluke.
The reason they appear so healthy, is BECAUSE they are on life support.
Without it, they'd be dead by now... and deservedly so. And their union buddies who caused most of the problems would be dead along with them... which would actually SOLVE the problem.
Hand me a few $bil and I could build a lot of ****ty cars and sell them cheap while paying off huge, undeserved union contracts too.
I always get a kick out of you neocons who are always "on" Does your ideology every actually allow you the luxury of thinking?
So you blame the union people on the collapse of GM? Was it the union people who made the decisions that led to the #1 carmaker in the world (of course you wouldn't give the union credit for helping them get to that point) collapsing? Was it the union people who made the decision to focus on power and size in vehicles in the late 90's while Toyota was developing hybrid technology?
So you give all those white collar NON UNION lemmings a free pass just because they went to college and sit in a burlap covered box all day typing on a computer for a living?
The union made many concessions over the years for GM. They had nothing to do with the boneheaded decisions that led to the demise but their tax dollars sure as hell helped to rescue the company.
Quit listening to Rush Limbaugh and think for yourself for a change.
Bottom Line - GM reclaims global sales crown (http://bottomline.msnbc.msn.com/_news/2012/01/19/10192000-gm-reclaims-global-sales-crown - broken link)
Less than three years after emerging from bankruptcy General Motors is positioned to once again be the world’s number one automaker, with sales for 2011 totaling 9.03 million. Its largest brand Chevrolet, meanwhile, reported an all-time record of 4.76 million sales to close out its 100th anniversary.
Good for GM!
Quote:
Originally Posted by redford dude
Count me in as a Detroiter who thanks God every day for the bailouts that saved a region already on its knees from certain extinction. Many of you will be surprised that most of us are very greatfull that this help was given.
It may not have lived up to utopian free market ideals but overall I believe it was definitely in this countrys best interest to save the domestic auto industry. If you think the economy is on shaky ground right now I can assure you that it would be in much worse condition if the government had failed to assist one of its most important industries in the same manner that all other countries do.
Same here. I'm not usually a fan of corporate bailouts, but we in Michigan were already on our knees by 2008. Of course GM and the UAW brought this on themselves to a degree. But if GM went under it would have sent our state into a black hole. And it's not just that, but people that I know would be caught up in it--my friends, their parents and my neighbors. So I grudgingly agreed with it, which is why I'm so glad it paid off.
Random story. I had a far right wing friend at the time that told me that he'd gladly see GM go under and all of those people laid off it it ruined the UAW. He said that he'd rather buy a car from Japan just so he would have to give a dime to a UAW worker. Pretty rotten thing to say, if you ask me.
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