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General Motors Is Headed For Bankruptcy -- Again
Forbes ^
| 08/16/2012
| Louis Woodhill
Posted on 08/16/2012 7:28:35 AM PDT by SeekAndFind
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To: SeekAndFind
Obumo may be a dope touting his saviourship of GM BUT
both Rinos and Dems went along with the initial paniced stupidity.
Therefore, this particular foulup isn’t going to get much exposure. It is, however, an excellent example of elite,
ill-informed, top-down gov’t management. Obumo’s solution to GM’s “problem” was politically inspired - not the way successful businesses operate.
21
posted on
08/16/2012 8:33:12 AM PDT
by
bossmechanic
(If all else fails, hit it with a hammer)
To: SeekAndFind
I have driven Chevy Suburbans since they were a 3 door crew truck and had not yet been named Suburbans. I traded my last one for a Chevy Tahoe when the first one came out. I had a ‘05 Tahoe when I heard the Obama administration announce that we would all have to drive SmartCars or some such little car. I went that day and traded my ‘05 for a ‘09 Tahoe. I have never been sorry and I am taking really good care of it so it will last me till I am too old to drive, whenever that happens!
22
posted on
08/16/2012 8:36:41 AM PDT
by
Ditter
To: SeekAndFind
Calling Captain Obvious
23
posted on
08/16/2012 8:44:51 AM PDT
by
ChildOfThe60s
(If you can remember the 60s....you weren't really there)
To: SeekAndFind
Wait one darn minute. A year ago GM had an advertisement saying they paid off all the Government Loans.
If you can’t believe Commercials, what can you believe?
24
posted on
08/16/2012 8:59:04 AM PDT
by
Kickass Conservative
(Republicans Hope people are Smart, but Democrats Know people are Stupid.)
To: SeekAndFind
I have a 2001 GMC Sierra C2500 Crew Cab Pickup.
Bought it new in OCT 2001 after the SEP 11 attacks.
I’m through with GM completely, mostly due to the bailouts, but also because this current truck isn’t near as well made as the 89 Super Cab that preceded it.
Its Ford or Foreign from now on.
25
posted on
08/16/2012 8:59:04 AM PDT
by
OriginalChristian
(The end of America, as founded, began when the first Career Politician was elected...)
To: BillyBonebrake
You are right on the money. I travel pretty much every week and about half the time my rental car is a Chevy. Truthfully they’re nice enough cars. They can be competitive car vs car.
The problem is not the product; the problem is what ‘they’ have done to the GM BRAND.
To your point about the “newly minted anything-but-GM crowd” too many in the market would buy anything BUT a GM, and the Progressives all want to drive their foreign marques. Who’s left? A much smaller available market.
GM and the gummint have ruined the stature of the GM brand. THAT is a HUGE loss in value/goodwill. The stock NEEDS to be lower.
26
posted on
08/16/2012 9:01:12 AM PDT
by
Blueflag
(Res ipsa loquitur: non vehere est inermus)
To: SeekAndFind
Just in time for the RNC Convention and the preezy debates...
27
posted on
08/16/2012 9:25:03 AM PDT
by
Hotlanta Mike
(Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
To: Kickass Conservative
If you cant believe Commercials, what can you believe? How right you are, my friend, how right you are.
28
posted on
08/16/2012 9:26:03 AM PDT
by
Dahoser
(Separation of church and state? No, we need separation of media and state.)
To: SeekAndFind; stephenjohnbanker; DoughtyOne; Gilbo_3; NFHale; Impy; LMAO; dools0007world; dforest; ..
RE :”
President Obama is proud of his bailout of General Motors. Thats good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.
Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion. “
More taxpayer $$$$ money down a rathole ping!
Any chance that Romney/Ryan will make this an issue?
29
posted on
08/16/2012 9:45:17 AM PDT
by
sickoflibs
(Romney is still a liberal. Just watch him. (Obama-ney Care ))
To: sickoflibs
well good. I am fed up with them. Unions fail companies all the time. why do you think our auto parts come from other countries.UNIONS. Obama is a UNION prez. That makes him a fail to start with. Union member better realize evenually Unions will cause their jobs to end.
30
posted on
08/16/2012 10:51:57 AM PDT
by
dalebert
To: SeekAndFind
but the stock closed at only $20.21/share on Tuesday. Flashback:
Romney: U.S. should sell GM stake
Mitt Romney says yes. And he wants President Obama to do it now...
...GM shares currently sit at $25.40, far below the $51 per share price necessary for taxpayers to break even...
To: SeekAndFind
The administration is trying to pretend that GM was “rescued” and they have criticized Romney for saying that they should have been allowed to go into bankruptcy. Despite the attempts to hide the fact, they did indeed go into bankruptcy but it was a politically driven process with little attention given to the structural problems which caused the initial failure. A traditional bankruptcy as advocated by Romney would have had a good chance of saving GM as a viable company. It is quite likely that GM will have to go through a legitimate bankruptcy but will never recover what was lost through the bastardized process forced on them by Oboma.
32
posted on
08/16/2012 11:22:24 AM PDT
by
etcb
To: sickoflibs; All
A picture that is worth a thousand teleprompted words...WHAT an effin'
LOSER!
33
posted on
08/16/2012 11:39:19 AM PDT
by
mkjessup
(Jimmy Carter is the Skidmark in the panties of American history, 0bama is the yellow stain in front!)
To: sickoflibs
“Any chance that Romney/Ryan will make this an issue?”
Well, it sure won’t stop Obamy from lying and telling us what a success he made of GM, will it?
34
posted on
08/16/2012 11:54:53 AM PDT
by
AuntB
(Illegal immigration is simply more "share the wealth" socialism and a CRIME not a race!)
To: AuntB
RE
Any chance that Romney/Ryan will make this an issue?
.....
Well, it sure wont stop Obamy from lying and telling us what a success he made of GM, will it?” It would be nice to have a party that actually believes that this is wrong.
35
posted on
08/16/2012 12:27:52 PM PDT
by
sickoflibs
(Romney is still a liberal. Just watch him. (Obama-ney Care ))
To: sickoflibs; SeekAndFind; stephenjohnbanker; DoughtyOne; Gilbo_3; NFHale; Impy; LMAO; ...
” More taxpayer $$$$ money down a rathole ping! (GM)
Any chance that Romney/Ryan will make this an issue? “
Too early to tell.
36
posted on
08/16/2012 12:47:04 PM PDT
by
stephenjohnbanker
(God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
To: cripplecreek; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...
37
posted on
08/16/2012 3:55:46 PM PDT
by
SunkenCiv
(https://secure.freerepublic.com/donate/)
To: Springman; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; madison10; ...
Sometimes bankruptcy needs to happen. We tied it the marxist way and it failed. Now lets try it the free market way.
38
posted on
08/16/2012 4:01:21 PM PDT
by
cripplecreek
(What does it profit a man if he gains the whole world but loses his soul?)
To: SeekAndFind
Maybe they’d get somewhere if they weren’t forced to sell Volts and other such nonsense. No one, or very few people, can afford those designer cars that the gov’t is forcing on the corporations and customers.
39
posted on
08/16/2012 4:25:21 PM PDT
by
madison10
(You can ignore reality, but you canÂ’t ignore the consequences of ignoring reality)
To: stephenjohnbanker
I suspect there would be a bailout under Romney/Ryan BUT it would come with a condition that they restructure, sell assets, cut the dead wood etc.
40
posted on
08/16/2012 4:30:20 PM PDT
by
cripplecreek
(What does it profit a man if he gains the whole world but loses his soul?)
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