Posted on 01/02/2009 2:29:14 PM PST by Rufus2007
GMAC may be in financial trouble, but that isnt stopping the auto lender-turned-bank holding company from maintaining its corporate sponsorships.
In October, GMAC changed its legal status so that it would be eligible for TARP funds passed by Congress. Late last month, GMAC was approved to receive a $5 billion lifeline from the U.S. government. However, the company is still maintaining its sponsorship of a collegiate bowl game set for Jan. 6 in Mobile, Ala.
Theres about 34 bowl games, 30 of which are sponsored in one way or the other, Fox Business Networks Jenna Lee said Jan. 2 on the Fox News Channels Happening Now. The lower-level, the mid-level games pull in about six figures to have your name attached to one of the games thats the estimate. And the big games, lets say the Rose Bowl for example, or the Sugar Bowl, or the Orange Bowl those figures go upwards of $5 to $6 million for some sort of sponsorship.
...more (w/video)...
(Excerpt) Read more at businessandmedia.org ...
They're all crooks and the government We (or somebody) elected is complicit.
Most people won't even know this because they don't watch FOX or lurk on FR.
Good Luck tonite. This is one hell of a test for UTAH!
For me it was a new 40cal handgun. :^)
I realize it has nothing to do with this thread but I imagine you’ve got some kind of a party set up.
Thanks, I really appreciate it.
Unfortunately, I have to work tonight so I’m going to be here with FOX on one of my monitors—a bunch of my friends in SLC are in the Big Easy as we type however. I’ll have burned an ulcer or two through my stomach if this one is still competitive in the 2nd half. :)
Exactly, they have withdrawn from future games. In fact, corporate sponsors are dropping like flies. Nascar is in trouble also.
It’s a big game but you guys didn’t go undefeated for no reason.
That this snotty report is from a website called businessandmedia.org is quite revealing, too.
Evidently, the editors of the website have no clue as to how businesses use media to promote their product.
Advertising pays the media's freight but reporters are so dumb as to bite the hand that feeds them.
GM pays substantially more than that annually when you consider all of the payroll, income, and business taxes for itself and its employees.
“The contract to do this was probably done and paid for a year agao”
Not to mention what the penalties for withdrawing the sponsorships would have been.
Exactly...kind of like how the gubmint treats us taxpayers too, ba$turds
If GMAC paid $500k for 8 years of sponsorship, that would be a no brainer.
Unfortunately, this article is so poorly written you can not ascertain the facts.
Then you are either a non-resident alien, or your AGI was above $87,000 or you are lying. For those that paid taxes, this is not welfare, this is a net reduction in tax rates.
I suppose any cut in taxes - or any mid-year correction in deductions, such as with vehicle mileage - is a welfare check in your eyes? Do you just give your entire check to the Government?
If you paid more than 12k, why did you not get the rebate? If you made too much, I understand your gripe. But your thinking is wrong.
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Sucks to be you, I guess... You need a new CPA if you couldn’t get your tax rebate, since it only went to those who made less than $87,000 AGI and paid more than $600 in Federal income tax.
Or you’re just upset that you’re in a higher tax bracket? Progressive tax rates suck, but with the $87,000 AGI cap all this is, is an adjustment to that progressive rate.
I paid far more in Federal taxes than $600; I got some of that back. Maybe you need to learn more about how to structure your income so you can benefit from the lowest possible tax rate. See Judge Learned Hand for some choice quotes about the duty of citizens to do just this.
I’ll jinx you now. Congratulations! (Your team has changed the landscape of the BCS)
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