GM headed for bankruptcy - again

[ms maggie]

How much Tax money did Bain use?

Debt interest per day .....

"Each day our nation pays communist China (and we own bunches to Japan too) $73.9 million in interest on our debt, money that is allowing them to aggressively modernize their military and increase their global influence," Forbes said in an April 14 press release.

http://www.politifact.com/virginia/s...illion-day-de/

and that was at 14 trillion...... now headed toward 16 trillion.....

You asked me if I bought stock with money I didn't have. Bain and I are both persons, right? Let's keep our comparisons straight. And did Bain use Tax payers money? Is that a serious question? You understand how these guys work, right? That the principals (like Romney) set it up as a pass thru that paid no taxes so they could declare their income as capital gains--how much you think that cost the taxpayers? Not to mention the jobs they shipped overseas. There are many ways the taxpayers get screwed my friend.

[Eastsider]

What is truly sad is that GM took American taxpayers dollars from the TARP program while opening up new GM plants around the world hiring thousands of non American workers.

[Creekman]

That did not answer my question.

And you didn't answer mine!

[songfourone]

http://www.gm.com/content/gmcom/home...investors.html



Chevrolet just set it's all time mid years sales record, from their own website.

[slapshot]

What is truly sad is that GM took American taxpayers dollars from the TARP program while opening up new GM plants around the world hiring thousands of non American workers.

You are aware that GM is a US company that COMPETES in a GLOBAL economy? In fact, GM's current problem is not in the US, but in it's European market. As with any global company, you can not easily disassociate one market from another. They can all impact each other.

My wife and I just bought a new car that we both assumed was made in Japan. Turns out, it was made in Canada. Everything is connected.

GM's successes, or failures, over seas impacts it's profitability, and ultimately, it's employment posture here in the US. If taking TARP money allowed GM to compete more effectively both in this country (against foreign manufacturers, etc) , and over seas, then I'm OK with that. That said, I do expect them to pay back the money....it wasn't a gift, but a loan....and as such, I don't get all giddy with joy (as some of you do), when they have a bad quarter. I wish them success so that they can pay back the loan.

[Retired Ramp Guy]

You asked me if I bought stock with money I didn't have. Bain and I are both persons, right? Let's keep our comparisons straight. And did Bain use Tax payers money? Is that a serious question? You understand how these guys work, right? That the principals (like Romney) set it up as a pass thru that paid no taxes so they could declare their income as capital gains--how much you think that cost the taxpayers? Not to mention the jobs they shipped overseas. There are many ways the taxpayers get screwed my friend.

No I didn't, I asked ---- "Would you borrow money from a bank to buy stock? "

So show how much tax money went to Bain, but we do know that the GM stock is way under water and the likely hood that it will see 53/share is seriously doubtful. The great thing is at least the government didn't jump into the Facebook IPO.

Answer you own question. How many dealership were closed by the government. Where was your concern for all the jobs that were lost!

"http://www.huffingtonpost.com/2009/05/15/gm-dealerships-closing-se_n_204031.html"

And yes my friend the TAX payer will also get screwed, but when the government does it with an "in your face" program it is even worse! Can you say friends of Solyndra

[Eastside Terp]

of course they will face bankruptcy again in the future ......

nothing was really done to change any of the fundamental problems ......

we just subsidized part of the cost of every car they make with tax dollars, ignored those cost and proclaimed a profit ......

what a deal, I would love to be able to do business that way ....

[ms maggie]

No I didn't, I asked ---- "Would you borrow money from a bank to buy stock? "

So show how much tax money went to Bain, but we do know that the GM stock is way under water and the likely hood that it will see 53/share is seriously doubtful. The great thing is at least the government didn't jump into the Facebook IPO.

Answer you own question. How many dealership were closed by the government. Where was your concern for all the jobs that were lost!

"http://www.huffingtonpost.com/2009/05/15/gm-dealerships-closing-se_n_204031.html"

And yes my friend the TAX payer will also get screwed, but when the government does it with an "in your face" program it is even worse! Can you say friends of Solyndra

Would you have preferred they kept open the dealerships that were a drag on profits? Do you want yr money back or not? I don't want to see any jobs lost but you have to take the best deal, the one that saves the MOST, not ALL jobs.

Solyndral? Really? How much taxpayer money was blown on Solyndral vs the wasted dollar that Halleburton et all have burnt? No contest. I love the selective outrage.

[grggngll]

of course they will face bankruptcy again in the future ......

nothing was really done to change any of the fundamental problems ......

The fundamental problems were made worse, much worse.

we just subsidized part of the cost of every car they make with tax dollars, ignored those cost and proclaimed a profit ......

what a deal, I would love to be able to do business that way ....

you have to become a significant bundler for the 0 machine, and have a few companies lined up where you can off load the failure to the tax payers, the now famous Solyndra Construction.

[Retired Ramp Guy]

Would you have preferred they kept open the dealerships that were a drag on profits? Do you want yr money back or not? I don't want to see any jobs lost but you have to take the best deal, the one that saves the MOST, not ALL jobs.

Solyndral? Really? How much taxpayer money was blown on Solyndral vs the wasted dollar that Halleburton et all have burnt? No contest. I love the selective outrage.

In what way..... Car companies sell their cars to the dealer (car manufactures did not own any dealerships) for pretty much the same price across the nation (I'm sure that some dealers have secret deals but on the whole it's the same price.)

The dealer then sets the price as to what amount of profit he makes.... It's the car dealer that is the at the end of the profit point

How does having 10 dealerships or 10,000 selling your product drag down the car companies profit?

And you selected outrage because folks don't like the government picking winner and losers in the retail market place is very plain to see.

[soulflower]

Solyndra?

Between Iraq and Afghanistan, Dick Cheney's cronies have stolen about a trillion from taxpayers...

[Retired Ramp Guy]

Solyndra?

Between Iraq and Afghanistan, Dick Cheney's cronies have stolen about a trillion from taxpayers...

yet the government still contracts with them

[soulflower]

The auto industry has gained over 100,000 more jobs under Obama

But since January 2009, when Obama took office, overall there has been an increase in jobs. The number of jobs hit a low point in November 2009, but then it has slowly inched upward so that Obama can point to the auto industry and says there has been a net gain.

In vehicle and vehicle parts manufacturing, the total number of jobs has increased by 73,000. For dealers, the gain has been nearly 30,000. So, all told, that’s more than 100,000 —instead of a decrease of 100,000 as Romney claims.

It is a little more difficult to isolate the automobile-only numbers because the manufacturing number is not seasonally adjusted. So, in that case, we have to use January-to-January figures. But that also shows a total gain of about 50,000 jobs in the auto industry.

http://www.washingtonpost.com/blogs/...YMXU_blog.html

[Retired Ramp Guy]

Solyndral? Really? How much taxpayer money was blown on Solyndral vs the wasted dollar that Halleburton et all have burnt? No contest. I love the selective outrage.

Show me a thread where I EVER defended Haliburton or said that the charges against them were false...

[ms maggie]

In what way..... Car companies sell their cars to the dealer (car manufactures did not own any dealerships) for pretty much the same price across the nation (I'm sure that some dealers have secret deals but on the whole it's the same price.)

The dealer then sets the price as to what amount of profit he makes.... It's the car dealer that is the at the end of the profit point

How does having 10 dealerships or 10,000 selling your product drag down the car companies profit?

And you selected outrage because folks don't like the government picking winner and losers in the retail market place is very plain to see.

The more dealers the more costly the supply chain, the more service/training/sales overhead. Too many dealers in a market promotes price wars which undercuts the brand and makes the dealers less profitable--and less profitable dealers are poor dealers. They have to cut corners to make ends meet and can't spend money supporting their position in the market.

[ms maggie]

Show me a thread where I EVER defended Haliburton or said that the charges against them were false...

Show me where you did! You're so concerned about GM potential cost to us, but there is a clear benefit to saving the auto industry. Sol is chump change compared to H, but the right wing never calls out the H scandal and waste. Selective outrage is faux outrage.

[ivanbalt]

GM uses unions = Conservative outrage

[bmore_ken]

You're so concerned about GM potential cost to us, but there is a clear benefit to saving the auto industry.

Didn't Ford make it without a bailout?

[ivanbalt]

Didn't Ford make it without a bailout?

That's because Ford is the best.

[ms maggie]

Didn't Ford make it without a bailout?

Yes. They had better management. Had GM and Chrysler gone down, Ford would have as well. Their suppliers would have closed down.