Posted on 04/23/2010 3:14:57 AM PDT by Welshman007
The ads are running at least once per hour on all of the major network, cable, and satellite TV outlets. General Motors claims it has repaid its bailout from the taxpayers in full.
Only one big problem stands in the way of this grand announcement being taken seriously. It is simply not true.
Through a deft sleight of hand technique, the automaker used taxpayer bailout funds it had stored in a separate account to repay its loan from the taxpayers. Simply put, GM used bailout money to pay back bailout money, and then claimed it had 'repaid its loan from the federal government.'
When the ad first began running it was obvious to those who had followed the news concerning GM that something was amiss. General Motors still has not turned a profit. Sales are still in decline compared to other automakers such as Ford, Honda, and even the beleaguered Toyota.
Thus, the ad begged the question, how on earth did GM, which is still reeling from massive losses, repay in full all of its taxpayer funded loans?
(Excerpt) Read more at examiner.com ...
Yup, the tri power 435hp job. Of course it needs 103 octane fuel unfortunately!
That car, dark blue black interior, rag top, with chrome side pipes is my favorite vette. Not sure if the sidepipes were an after market as they were offered only one year I believe as an option.
They still owe 45 Billion.......
my reminder to read all later
Gummint Motors lies????? How can that be???
I have been warning my son that if he continues lying, he might end up as President of the United States of America!
Just another fabrication from the commies.
“You Lie!”
It’s still Government Motors, and I’ll not buy another one.
Except, the very tall, patrician-looking Mr. Ed the Talking CEO doesn't look at all like the common man.....and he's lying through his perfect set of pearly whites.
It used to be that used-car salesmen were lowest on the totem pole of most trusted people. Who'da thunk that one of their bosses from the ranks of the elite, highly-educated, highly-paid nabobs of automotive commerce and industry, would work his way down to the very nadir of trustability....even below the smooth-talking sales promoters in the grubby cubicles of the auto showrooms.
Well, it looks like the aristocratic Mr. Ed the Talking CEO, in an epic faustian deal, sold his soul to Mr. O'Mephistopheles, and his soul and reputation will forever rot in the netherworld along with those of others who fall for the blandishments or blackmail employed by the Satan in the Oval Office.
Mr. Ed, I wouldn't buy a used car from you if it cost me $10, nor will I buy a new one from you either. I would even bring a taster along if I were invited to tea and a slice of devil's food cake at your private estate.
Leni
Mephistophelian bump....shiver....((( )))
This stuff just writes its self.
Apparently they did it by slashing their workforce down to 70,000. Government (US and Canada) still owns almost 70% of the company - as you said, about $45 billion. The Canucks still hold an $8 billion stake...the US share $61 billion. The company is losing money though, $3.4 billion in the last quarter of ‘09. The article I got this from shows that the cult of Obama is putting heavy pressure on the company to produce ‘green’ vehicles. Obviously they don’t intend to be a silent partner. I’m all for increasing fuel efficiency to make us less dependent on foreign oil but I’m uncomfortable with it being accomplished by government takeovers and fiat (unintended pun, but I’ll use it). What will happen to choice and innovation?
http://finance.yahoo.com/news/Gas-in-the-tank-GM-repays-81B-apf-1077915316.html?x=0&.v=33
Leni
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