“GM “repaid” its loan with other taxpayer-provided bailout funds”
that says it all, for me. obamanation has them in his vice.
I wouldn’t drive a government motors vehicle if someone gave it to me..
Where is the class action lawsuit (or individual suits) from the creditors and bond holders who were screwed illegally by the Gov’t?? Are they just too rich to care; paid off by TARp funds; threatened by Obama’s Chicago mafia? < crickets >
There’s more math to be figured. The emphasis has been on Miles per Gallon. Calculate what I call “Dollars per MILE”.
Cost, even with taxpayer subsidy, depreciation, repairs, local taxes, gas (still needed), re-charging fees, INSURANCE, battery changes and more. I bet my “Dollar per Mile” cost for my Olds Custom Cruiser will be a whole lot less.
And I can drive from the middle of Mass. to lower Maine to visit the kids in one long trip, no stops. Up and back on one tank of gas.
General Moters seems to think it has sufficient funds to make political contributions, mostly Democrats, according to FoxNews. http://www.foxnews.com/politics/2010/09/23/general-motors-resumes-political-contributions/
Ultimately the price will rise and the shares will be sold to the public. However soon after that happens Wall St. will realize the government won't bail this out again , especially if Husein's numbers keep tanking. Those who got in late (the retail investor) will again be left holding the bag.
The final thing that nobody's mentioning in all the hype is the original bondholder who got $0.25 on the dollar (and was called greedy by Husein) and the owner of the old shares who rode it down hoping it would turn around, they get bupkus. Please feel free to point out where I'm wrong.
My son in law, who is in the finance industry, says that there’s a government fund to help retirees of companies whose own retirement plans failed to deliver. In other words, GM screwed their retirees and our government partially bailing them out. GM is one of the companies whose retirees are tapping into this government fund. Wonder how much that’s costing us?
Still leaves out all the tax payers money that was piss away before the reorganization,
In short, there is no green future based on plug-in cars. Only losses for the indoctrinated suckers who buy them — and for the taxpayers who are fleeced to subsidize such economic folly.
I like it.