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Sales numbers may make GM's bad week even worse (but Obama "saved" GM. /sarc.)
nbc ^ | 7/31/2012 | Paul A. Eisenstein

Posted on 08/01/2012 3:23:49 AM PDT by tobyhill

GM's horrible week may get more horrible.

The week began badly for the world's No. 1 automaker with the unexplained ouster of its global marketing chief. Barring a late July surge, GM is expected to report July sales numbers on Wednesday that lag behind its chief rivals. And on Thursday it will announce what is widely forecast to be dismal profit numbers for the second quarter -- largely reflecting the maker’s ongoing problems in the free-falling European car market.

Complicating matters, GM’s recent problems have been magnified by its unintended and unwanted role in the 2012 presidential campaign. Though it was the former Republican President George W. Bush who launched the bailout of the struggling maker -- and rival Chrysler -- in late 2008, it was his successor, President Barack Obama, who took that effort to the next, far more costly level. To critics, “Government Motors” is a symbol of the administration’s perceived failures.

(Excerpt) Read more at bottomline.nbcnews.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 08/01/2012 3:24:02 AM PDT by tobyhill
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To: tobyhill
GM needs to file a Chapter 11 bankruptcy and re-organize. This includes new contract negotiations and possibly a break up into separate parts.

Obama and his magic fairies need to keep their hands off and let established law and market forces work.

2 posted on 08/01/2012 3:34:36 AM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: tobyhill

With the Plummeting stock Price How Many Billions are the Tax Payers in the Hole Now?


3 posted on 08/01/2012 3:38:40 AM PDT by ballplayer
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To: tobyhill

With the Plummeting stock Price How Many Billions are the Tax Payers in the Hole Now?


4 posted on 08/01/2012 3:38:52 AM PDT by ballplayer
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To: ballplayer
with sub-prime loans in reality is a house of cards to get past the election

I am sure they can't sell a Bond after Obama shafted the last Bondholders.

If someone can breath I am sure GMAC will fiance you on a new car or truck

5 posted on 08/01/2012 3:44:00 AM PDT by scooby321 (AMS)
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To: tobyhill

Last week I heard some GM commercial boasting about having their best year ever. GM has learned to tell whoppers just like their boss Barry.


6 posted on 08/01/2012 3:44:00 AM PDT by caver (Obama: Home of the Whopper)
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To: tobyhill
“Government Motors” is a symbol of the administration’s perceived failures.

GM is a symbol of the massive corruption and crony capitalism that may destroy America as a free country, and for that reason many patriotic Americans are boycotting that entity forever. I hope GM dies a well-deserved death soon as the natural consequence of their "bankruptcy" violating common law, bankruptcy law, contract law, and human decency. That company is dead to me, and I am glad so much of their product line is such crap that few people want to buy from them.

7 posted on 08/01/2012 3:49:26 AM PDT by Pollster1 (Freedom is never more than one generation away from extinction. - Ronald Reagan)
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To: Pollster1

Lie down with dogs, etc....


8 posted on 08/01/2012 3:55:53 AM PDT by thulldud (Is it "alter or abolish" time yet?)
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To: ballplayer

Finally an “ I built that” credit deserved.


9 posted on 08/01/2012 3:58:10 AM PDT by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: caver

“As GM goes, so goes the Nation”. Now that is encouraging! ;-)


10 posted on 08/01/2012 4:02:14 AM PDT by Average Al (Forbidden fruit leads to many jams.)
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To: scooby321

Shafted is a polite word for stole from the GM Bond Holders. Obama is a common thief and should be strung up by his ears

He and the Democrat party are a criminal enterprise.


11 posted on 08/01/2012 4:02:37 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: Jimmy Valentine
Obama and his magic fairies need to keep their hands off and let established law and market forces work.

If they had done so four years ago, would they not be well along the road to recovery today?

I used to think GM's biggest problem was having a work force adding to under 100,000 trying to suppoert a retired force approaching 1,000,000. The rounding may be off, but the ratios tell a story. Has any of this changed after the bail out?

12 posted on 08/01/2012 4:07:18 AM PDT by stevem
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To: tobyhill

Just another Chinese company folding up.

http://www.youtube.com/watch?v=Lvl5Gan69Wo


13 posted on 08/01/2012 4:07:54 AM PDT by Venturer
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To: Pollster1

“Government Motors” is a symbol of the administration’s perceived failures.

Pathethic how the corrupt media bends over backwards to diminish monumental failures in order to make Sparky the Wonder Prez seem a “perceived” success.


14 posted on 08/01/2012 4:08:05 AM PDT by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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To: tobyhill

To all the Freepers who keep saying GM is doing well. They are phony numbers. GM is tanking.


15 posted on 08/01/2012 4:12:09 AM PDT by bmwcyle (Corollary - Electing the same person over and over and expecting a different outcome is insanity)
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To: tobyhill

Obama did not think Chrysler was worth saving, so he bailed out the UAW and basically gave the company to Fiat.

Chrysler got private financing to pay off the gov’t loans (that had interest rates over 20% that most politicians would call abusive).

Now, the company is profitable, has two full years of increasing sales and is working to get out from the UAW VEBA.


16 posted on 08/01/2012 4:12:39 AM PDT by Erik Latranyi (When religions have to beg the gov't for a waiver, we are already under socialism.)
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To: Erik Latranyi

But...... is not Fiat having trouble with new bonds in Italy?


17 posted on 08/01/2012 4:16:03 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: tobyhill
And no mention of General Motors signs $750 million Manchester United deal after marketing chief ouster
"On Monday, GM, the biggest United States (US) automaker, announced its Chevrolet brand would sponsor the hugely popular
club's shirts for the next seven years. The deal is worth US$60 million (S$75 million) to US$70 million a year and
includes a US$100 million activation fee that brings the total value to as much as US$600 million, said a person with
knowledge of the contract who asked not to be identified."


That starts to add up to real money after a while.
18 posted on 08/01/2012 4:18:17 AM PDT by Tainan (Cogito, ergo conservatus sum)
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To: nascarnation

see this one too.

GM is in real trouble.


19 posted on 08/01/2012 4:32:29 AM PDT by Ouderkirk (Democrats...the party of Slavery, Segregation, Sodomy, and Sedition)
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To: tobyhill

One of my wife’s uncles owned some GM stock. After their most recent BR a stock broker called him and asked if he would like to buy some more after they re-organized. He told the guy he had some stock he would like to sell to him.


20 posted on 08/01/2012 4:45:39 AM PDT by smaug6 (We can't afford to be innocent!! Stand up and face the enemy.)
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To: bert
But...... is not Fiat having trouble with new bonds in Italy?

They are having troubles getting concessions from the unions at their European plants.....many of which are openly communist supporters.

Plus, the European auto market is tanking fast.

But this plays right into the deal Marchionne negotiated with Obama to purchase the VEBA shares......as long as Fiat remains in the toilet, he can buy out the VEBA at bargain prices.

Another example of where a capitalist outmaneuvers a gov't hack.

21 posted on 08/01/2012 4:47:53 AM PDT by Erik Latranyi (When religions have to beg the gov't for a waiver, we are already under socialism.)
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To: ballplayer

“With the Plummeting stock Price How Many Billions are the Tax Payers in the Hole Now?”

16.5 Billion $ is the answer. Gov. owns 500 million shares with the break even point of $53 a share. It is currently at $19.71 a share..... nice investment Bambi!


22 posted on 08/01/2012 4:48:42 AM PDT by DAC21
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To: tobyhill
Complicating matters, GM’s recent problems have been magnified by its unintended and unwanted role in the 2012 presidential campaign

Beware Mulattoes bearing gifts!
23 posted on 08/01/2012 5:24:06 AM PDT by 762X51
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To: Pollster1

My car is 12 years old, so I’m shopping.... But wouldn’t even think of turning into the GM sales lot. I wonder if there are a lot more like me?


24 posted on 08/01/2012 5:26:14 AM PDT by ThePatriotsFlag
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To: tobyhill

huh...NPR this morning said GM sales SOARED on the strength of Malibu and the VOLT.

I almost wrecked the car,,,,But i do want what they are smokin....


25 posted on 08/01/2012 5:26:51 AM PDT by Adder (Da bro has GOT to go!)
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To: bert

The guy who built our retirement house in the Ozarks had most of his savings in GM bonds. He said he’ll probably have to keep working till he’s 80...


26 posted on 08/01/2012 5:38:50 AM PDT by Eric in the Ozarks (I didn't post this. Someone else did.)
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To: tobyhill

GM needs to distance themselves from this bastard. I will NEVER buy a car that has anything to do with them until, they do. Even then, probably a long shot. Ford for me. GM can go bust. Sorry...


27 posted on 08/01/2012 5:42:13 AM PDT by my small voice (A biased media and an uneducated populace is the biggest threat to our nation.)
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To: my small voice

I’m with you. We own one GM vehicle, purchased before the bailout. It is our last GM vehicle. To me GM represents everything that is wrong with unions, crony capitalism, excessive government meddling in business, and just, really really bad business decisions. So unless and until they turn around, no more GMs, ever. Even if they saw the light today, it would take several years for them to get their act together. It would take several more years after that of seeing them stay the course before I’d trust them. So they are probably looking at a ten year window from turnaround to me even considering buying one of their vehicles.


28 posted on 08/01/2012 6:00:27 AM PDT by ThunderSleeps (Stop obama now! Stop the hussein - insane agenda!)
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To: Jimmy Valentine

That is what should have happened a couple years ago instead of a taxpayer bailout of GM’s unions that screwed its secured creditors. Obama kept a company together that didn’t make sense and he also kept their unsustainable cost structure in place. Now, instead of having several smaller parts that are in a position to compete and grow, we have the same monstrosity we had before that eventually will fail again.


29 posted on 08/01/2012 6:15:21 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: tobyhill
"Though it was the former Republican President George W. Bush who launched the bailout of the struggling maker -- and rival Chrysler -- in late 2008, it was his successor, President Barack Obama, who took that effort to the next, far more costly level. "

Is that accurate? Didn't Obama ask Bush to give him a running start on this and approve what he (Obama) wanted and not make him wait until the inaugural? Not that Bush should have acceded, but it was Obama that was pushing this, it was not Bush's idea, IIRC.

30 posted on 08/01/2012 6:19:02 AM PDT by cookcounty (Kagan and Sotomayor side with Joe Wilson: -------Obama DID lie!)
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To: Jimmy Valentine

What, GM losing money? How is this possible? It wasn’t too long ago that they paid all their union members “bonuses” because of their high “profits”. Could those high numbers have been because they sold most of their output to the government?


31 posted on 08/01/2012 6:21:32 AM PDT by anoldafvet
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To: ThePatriotsFlag

My Silverado dually is a 2002, its a gas engine that on a good day gets into double digit numbers, its actually still very reliable but I want to get another with a natural gas conversion or dual fuel kit. The 8.1 Vortec has been discontinued for if anything being “too good” for the working class, actually its still being offered in the heavier chassis line.

Awesome pulling power for a motor that was designed for motorhomes and yachts.

Now is saying it but I wonder if superstition is playing here, who would say they will buy a 2013 model year?

Funny thing is regardless of who GM sleeps with I would actually prefer to skip a 13 model year, no factual basis of course.


32 posted on 08/01/2012 6:27:30 AM PDT by Eye of Unk (Going mobile, posts will be brief. No spellcheck for the grammar nazis.)
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To: cookcounty

I believe Bush wanted to bail out GM.

Obama bailed out the unions.


33 posted on 08/01/2012 6:34:30 AM PDT by EQAndyBuzz (ABO 2012)
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To: Pollster1

GM. Consistently building the third best domestically manufactured light trucks since 1973.

The best car they built (for it’s designated purpose) in the last 50 years was the first line they discontinued, the Pontiac Solstice.

They do build a world class pushrod V8, but these days that’s like building a world class wooden pie safe.

The only bright spots in their entire line are out of the price range for the average consumer, specifically the two performance model Corvettes and that Cadillac CTSV.

GM should have been liquidated in bankruptcy and Penske should have bought the better parts and the rest left to rot.


34 posted on 08/01/2012 7:34:49 AM PDT by noprogs (Borders, Language, Culture....all should be preserved)
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To: ThePatriotsFlag

Please consider buying FORD.


35 posted on 08/01/2012 3:47:02 PM PDT by HANG THE EXPENSE (Life's tough.It's tougher when you're stupid.)
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