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11-16-2009, 04:18 PM
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GM update -- not so bad news
Well now GM is officially a govt agency. I've come to this conclusion because.
1) they lost less than they expected (deficit not as big as thought) 2) they are paying back loan w govt borrowed cash (deficit spending) 3) they will produce a product no one wants (electric cars)to be sold w help of govt mandates yep tha govt takeover and restructuring is a complete success. they are the mirror image of their creators - govt http://finance.yahoo.com/news/GM-rep...&asset=&ccode= The company also said it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It plans to repay the debt over the next eight quarters, but could pay it back as early as next year. But the money will come from funds loaned by the government. 
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11-16-2009, 04:20 PM
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Thank you President Obama for saving jobs.
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11-16-2009, 04:22 PM
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at what cost?
Ford is posting profits. Without bailouts
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11-16-2009, 04:24 PM
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11-16-2009, 05:03 PM
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less than bailout did
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11-16-2009, 05:23 PM
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11-16-2009, 08:57 PM
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Should have let GM go to the wayside, absorbed by auto makers that can make a profit and produce a good product.
Unions and their lobbyists will cost the taxpayers far more than unemployment for 6 months....or even 2 years for that matter. Obama I believe is still down about 6 million jobs since he took office. Not enough bailout money for that and not enough if you took all of Bill Gates and Buffet's money or all the billoniares in America for that matter. "Socialism is great until you run out of other people's money...."
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11-16-2009, 11:43 PM
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didn't bush bail out gm/?
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11-17-2009, 12:48 AM
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Thought that was how it was supposed ta work in a free society ---- sorry I forgot - we aint got one of those.
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11-17-2009, 06:52 AM
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They are paying back the 10 billion the new company borrowed.
What about the other 58 billion the old company borrowed? Oh, yea! I forgot we got the shaft instead! This way I can help support the retirement of people that make 2-4 times more than me with much, much better benny's! I so happy they are comfortable. Maybe I will celebrate by donating another $100 in their name so they get that tax break on me too! Oh, yea, I forgot my family would starve cause I don’t get paid nearly that much.
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11-17-2009, 06:57 AM
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