Posted on 08/01/2012 3:23:49 AM PDT by tobyhill
GM's horrible week may get more horrible.
The week began badly for the world's No. 1 automaker with the unexplained ouster of its global marketing chief. Barring a late July surge, GM is expected to report July sales numbers on Wednesday that lag behind its chief rivals. And on Thursday it will announce what is widely forecast to be dismal profit numbers for the second quarter -- largely reflecting the maker’s ongoing problems in the free-falling European car market.
Complicating matters, GM’s recent problems have been magnified by its unintended and unwanted role in the 2012 presidential campaign. Though it was the former Republican President George W. Bush who launched the bailout of the struggling maker -- and rival Chrysler -- in late 2008, it was his successor, President Barack Obama, who took that effort to the next, far more costly level. To critics, “Government Motors” is a symbol of the administration’s perceived failures.
(Excerpt) Read more at bottomline.nbcnews.com ...
Obama and his magic fairies need to keep their hands off and let established law and market forces work.
With the Plummeting stock Price How Many Billions are the Tax Payers in the Hole Now?
With the Plummeting stock Price How Many Billions are the Tax Payers in the Hole Now?
I am sure they can't sell a Bond after Obama shafted the last Bondholders.
If someone can breath I am sure GMAC will fiance you on a new car or truck
Last week I heard some GM commercial boasting about having their best year ever. GM has learned to tell whoppers just like their boss Barry.
GM is a symbol of the massive corruption and crony capitalism that may destroy America as a free country, and for that reason many patriotic Americans are boycotting that entity forever. I hope GM dies a well-deserved death soon as the natural consequence of their "bankruptcy" violating common law, bankruptcy law, contract law, and human decency. That company is dead to me, and I am glad so much of their product line is such crap that few people want to buy from them.
Lie down with dogs, etc....
Finally an “ I built that” credit deserved.
“As GM goes, so goes the Nation”. Now that is encouraging! ;-)
Shafted is a polite word for stole from the GM Bond Holders. Obama is a common thief and should be strung up by his ears
He and the Democrat party are a criminal enterprise.
If they had done so four years ago, would they not be well along the road to recovery today?
I used to think GM's biggest problem was having a work force adding to under 100,000 trying to suppoert a retired force approaching 1,000,000. The rounding may be off, but the ratios tell a story. Has any of this changed after the bail out?
“Government Motors” is a symbol of the administration’s perceived failures.
Pathethic how the corrupt media bends over backwards to diminish monumental failures in order to make Sparky the Wonder Prez seem a “perceived” success.
To all the Freepers who keep saying GM is doing well. They are phony numbers. GM is tanking.
Obama did not think Chrysler was worth saving, so he bailed out the UAW and basically gave the company to Fiat.
Chrysler got private financing to pay off the gov’t loans (that had interest rates over 20% that most politicians would call abusive).
Now, the company is profitable, has two full years of increasing sales and is working to get out from the UAW VEBA.
But...... is not Fiat having trouble with new bonds in Italy?
see this one too.
GM is in real trouble.
One of my wife’s uncles owned some GM stock. After their most recent BR a stock broker called him and asked if he would like to buy some more after they re-organized. He told the guy he had some stock he would like to sell to him.
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