i heard that, they'll "be back" when the stock price rises above the IPO and stays there...
Posted on 09/28/2011 5:10:57 PM PDT by equaviator
Edited on 09/28/2011 6:50:27 PM PDT by Sidebar Moderator. [history]
Have you noticed that one of the Obama administration's most successful programs is also its most "socialist" initiative?
OK, the bailout of General Motors and Chrysler was not socialist in the classic sense: The government was not looking to hold on to the companies over the long run. Their turnaround was accomplished in significant part by tough, capitalist management steps.
(Excerpt) Read more at google.com ...
Anybody have a problem with that?
Yes, at this rate the taxpayers will be payed back in 20 years or so.
thank you. I was confused. Easy to do on some days!!!!
Give me 60 billion, I’ll bank it and show the same profit from interest alone.
GM is far from back if they are waiting for me to buy one of their products cause that ain’t gonna happen!
Ditto. I and won't ever buy a used one pre-Hussein. I travel to El Paso frequently and the last time I was there I happened to pass by Border Patrol head quarters - there where many BP govt vehicles parked idly in the parking lot going to waste doing nothing and they were all GM.
“so that’s what you call it...”
Well, that’s what it looks like. Or is it for mere appearances sake that some of those new cars look and ‘sound’ so good?
i heard that, they'll "be back" when the stock price rises above the IPO and stays there...
The word you're looking for, E.J., is fascism.
The profit stemmed from a rebound in U.S. sales, strong growth in China -- now GM's largest market -- and a much lower cost structure after a 2009 trip through bankruptcy.
This really isn't something they should be bragging about.
Ah so...
Maybe that tsunami was a good thing?
“Now its (union) members can fairly claim a right to some of the benefits.”
Paid for by those who lost money. Now that the new company using the GM name has skimmed the cream they surely should make money.
Dionne blathers on.
Wave the magic wand and dispose of several tens of billions of debt, and they should be quite profitable ... for a little while ... until the UAW robs them (or is that us, the taxpayers) blind again.
GM is owned by the UAW and the federal government. It survives on massive infusions of taxpayer money. It’s really a socialist enterprise. I don’t hold out much hope for it.
It’s totally amazing what supposedly intelligent people will write, when they must know it is total bullshit!
GM is profitable because investors/bondholders/banks took it in the shorts. Any company in the world can look “profitable” when you’re able to split your balance sheet into:
1. Those products that look like they have potential, but only if we transfer so many meaningful assets to support them, or:
2. Those products that under achieve; and I’ll dump all my under-performing assets; all my unsupported debt, under performing bond holders,totally screw all of them, and never-ever have to report their performance ever again.
We’re heros, and now we will share our heroism with the same bunch of lazy union employees so we can crow about our greatness, building only a few of the same crappy products that we built last year!
Lawyer up now, because you’re going to go down once again in a few years, with 1 million unwanted Volts sitting in your parking lots!
It’s benefits for them to extort free money like scumbag cult leaders handing out his hat, but profits when it is us, you see.
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