Posted on 02/16/2013 7:51:11 AM PST by ExxonPatrolUs
Maybe he figures he will get a cut rate deal from his crony friend Obama from a buyout from the Feds.
GM is destined to fail, though. GM were never required to reorganize their debts and it is pretty much business as usual with the taxpayers picking up the tab both from the stimulus and a waiver on taxes. As soon as the feds cut them loose, they will flounder and fail... again... and be another too big to fail company. Round two?
Maybe Buffett expects the taxpayers to continue to pay the bills at GM. Maybe that is part of the buyout agreement. Or some huge tax kickback.
Remember Buffett is all about everyone else paying their taxes and looking for huge loopholes for himself and his companies.
Spot on!
Me too! We bought the same flag waving buy American bu!!sh!t. Only we we were stuck with the POS car after it went over the 12,000 mile warranty.
They exploited American pride and desire to support Americans first to peddle their expensive POS cars.
Did GM ever pay back the TARP funds???
Warren Buffet - America’s premier crony capitalist.
Buffet is cozy with Obama, so he will be informed ahead of time when the gubbermint intends to pump more money into GM for “green jobs” or something.
He doesn’t need to be savvy market-wise. He just needs that insider information.
Well, they could always picket the streets around the house. Yeah, the Omaha police would finally at some point “spring” into action but that entire section of the Dundee neighborhood could be disrupted for a while. That would bring a lot more attention than just camping on his lawn.
Buying American?
You mean fascist, state-run, union-thug-made American?
There are plenty of “foreign” cars that are made in American factories by American workers and American management with American-made parts.
Love Motley Fool.
How much do they still owe us?
Seems to be a moving target.
Well said.
Buffett is the nations largest welfare queen. He seems to go after only products that the government has a hand in
The herd leader is moving, the herd (money managers) will follow.
Price moves up to where the WON can sell and can say, look the taxpayers made money with GM stock.
He has always been a progressive —he was and is mostly likely now head-over-heels in love with Hitlery. He will back her to the max in 2016.
WB has gotten treacherously realistic in his old age, and how he’s perfectly FINE in becoming a rich extension of the Big Brother.
Armand Hammer was to Lenin what WB is to the US power establishment.
WB is a wise, disgusting insect who is now the ultimate Inside Man.
You know what commies really end up succeeding in? In building FASCISM.
Thus Buffet wins, taxpayers still lose billions.
Global Motors is no more “American” than Mercedes or Toyota. They all have factories all over the world, shareholders from all over the world, and sell all over the world. In fact the article makes it pretty clear the profits Buffet expects to see won’t be coming from the domestic market.
Romney wanted to place GM into bankruptcy and only back the divisions that were competitive.
GM does some things well, like their trucks, which have excellent quality and probably the best styling on the market. They are competitive with the F150 which is the best selling vehicle in the US.
Maybe Buffett expects the taxpayers to continue to pay the bills at GM. Maybe that is part of the buyout agreement. Or some huge tax kickback.
I work at a company that had been recently acquired by Buffett. B-H poured in a lot of money for capital expansion. Also, the management structure has been changed considerably. This is all long term stuff. Anything Buffett acquires is due to perceived long term earning potential. As far as buying up a company looting it and breaking it up - that doesn’t seem to be his style.
The fact is GM's never fully repaid the TAXPAYERS of this country for the loans BAILOUTS that were given to Unions when GM's rightful debtholders were F***ED by the Obama Administration.
GM's also facing bankruptcy AGAIN because they've never addressed the core issue of their debt problem: PENSION OBLIGATIONS.
I suspect Buffet knows that GM's going to have to file for bankruptcy protection, get ANOTHER TAXPAYER BAILOUT at which point the Unions will finally have to take their pension haircut, which will then mean that the only one's who'll benefit from another TAXPAYER BAILOUT will be Friends of Barry.
Anyone wanna bet me?
You've gotta be kidding. GM makes the UGLIEST TRUCKS on the market, period. That Silverado is nothing but a box on wheels. No "styling" to it whatsoever.
I'll take a Ford F150/F250 over any truck GM produces in a heartbeat. Hell, I'll take a Dodge RAM or a Toyota Tundra over any truck GM produces too.
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