GM - General Motors - "Gubmint Motors" - whatever....is #1 again!
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MaryAnne
Governor
My Son's BIL was there twice and said it was funny to see them behind the wheel of that big car.He towered over most of them,A meal for 10 with drinks was $100.
Corruptbuddha
Governor
Bull and Shit.
A year ago, we looked into General Motors CEO Ed Whitacre's boast that GM has paid back its government loans, in full, and ahead of schedule.
"A lot of Americans didn't agree with giving GM a second chance," Whitacre said in an ad. "Quite frankly, I can respect that. We want to make this a company all Americans can be proud of again. That's why I'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. But there's still more to do. Our goal is to exceed every expectation you've set for us."
But as with Marchionne, Whitacre didn't tell the full story. The Obama administration -- through the Troubled Asset Relief Program (TARP) -- committed approximately $52.4 billion to help right GM.
Only a fraction of that, $6.7 billion, was in the form of loans. Most of the government's GM investment was converted to an ownership stake in the New GM, the company that emerged from bankruptcy: $2.1 billion in preferred stock; and 60.8 percent of the company's common equity. The jury is still out on how much return the government will get on that investment.
Whitacre could accurately claim that GM has retired its $6.7 billion in loans from the U.S. government. But with the government still owning 60 percent of the company and the prospects slim for getting all its money back, we thought that was highly misleading. And so we rated Whitacre's statement Half True.
Care to try again?
A year ago, we looked into General Motors CEO Ed Whitacre's boast that GM has paid back its government loans, in full, and ahead of schedule.
"A lot of Americans didn't agree with giving GM a second chance," Whitacre said in an ad. "Quite frankly, I can respect that. We want to make this a company all Americans can be proud of again. That's why I'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. But there's still more to do. Our goal is to exceed every expectation you've set for us."
But as with Marchionne, Whitacre didn't tell the full story. The Obama administration -- through the Troubled Asset Relief Program (TARP) -- committed approximately $52.4 billion to help right GM.
Only a fraction of that, $6.7 billion, was in the form of loans. Most of the government's GM investment was converted to an ownership stake in the New GM, the company that emerged from bankruptcy: $2.1 billion in preferred stock; and 60.8 percent of the company's common equity. The jury is still out on how much return the government will get on that investment.
Whitacre could accurately claim that GM has retired its $6.7 billion in loans from the U.S. government. But with the government still owning 60 percent of the company and the prospects slim for getting all its money back, we thought that was highly misleading. And so we rated Whitacre's statement Half True.
Care to try again?
TomFitz
Mayor
Well, the jury may still be out on whether the public will get get all of its money back. But prospects look pretty good right now, and in the immediate future.
We could have done what the Repulicans wanted to do, which was nothing.
Then the people would be paying long term unemployment to a million more people at a least. So, where's the ROI on that?
We could have done what the Repulicans wanted to do, which was nothing.
Then the people would be paying long term unemployment to a million more people at a least. So, where's the ROI on that?
Corruptbuddha
Governor
Until they do, I stand by my post.
And now, have you seen the trouble their having with their pension fund?
What now? Another bailout?
When does it end?
And now, have you seen the trouble their having with their pension fund?
What now? Another bailout?
When does it end?
degsme
Council Member
SHHH!!! GM is Socialism run amok by Obama...
OldGaffer
Governor
The social darwinists on the right with their survival of the fittest philosophy dont care about anyone but themselves.
Lapcat
Governor
But then....we're not talking about Chinese imports. Or are you unaware of the actual topic/subject here?
Lapcat
Governor
Lapcat
Governor
That's.....kinda the whole "point" of the debate. GM, bailed out by taxpayers (against their will) and now partnering with the Chinese commies and sending those profits to China, instead of the US (duh).
degsme
Council Member
That GM is being very succesful in improving the economy?? yes it is... and what was it that you wrote about the Obama administration's investment in GM?
degsme
Council Member
Well I guess you did. You did say that you would stay and respect our POTUS right? Just as you do now...
Rudedog
Council Member
social darwinists?
I can imagine early mankind, the republican would say "Why should I fight the sabre tooth tiger? I am the fastest runner. Why risk my life for the SLOW in our clan?"
In the History channel I did see how an ancient body was recovered from a bog in Fl. The Palentologist surmised the young man had Spina Bifida and could not walk so the tribe had to have cared for him for he lived to early adulthood. Even the ancient tribes of AMerica were MORE civilized than modern republicans.
I can imagine early mankind, the republican would say "Why should I fight the sabre tooth tiger? I am the fastest runner. Why risk my life for the SLOW in our clan?"
In the History channel I did see how an ancient body was recovered from a bog in Fl. The Palentologist surmised the young man had Spina Bifida and could not walk so the tribe had to have cared for him for he lived to early adulthood. Even the ancient tribes of AMerica were MORE civilized than modern republicans.
And it only cost the taxpayers $250,000 for each Chevy Volt, not counting the ones that caught on fire.
http://www.godlikeproductions.com/forum1/message1749220/pg1
http://www.godlikeproductions.com/forum1/message1749220/pg1
OldGaffer
Governor
Old news Jack, already been fixed:
GM appears to have satisfied the National Highway Traffic Safety Administration with its response to Chevrolet Volt safety concerns. After GM’s quick reaction and generous offers to Volt owners worried about their cars catching on fire, the NHTSA’s David Strickland told reporters at the 2012 Detroit auto show that automotive safety regulators appreciate GM’s Volt fixes, Bloomberg reports.
After an electrical fire started from a Chevrolet Volt three weeks after it had been crash tested by the NHTSA, GM’s safety structure tweaks include adding a sensor in the battery coolant system reservoir, adding a tamper-resistant bracket to the top of the reservoir to prevent coolant overfill, and protecting the battery pack with a metal brace. The fixes will be offered free to all current Volt owners and take about two hours to install at a dealer.
Read more: http://wot.motortrend.com/gms-chevrolet-volt-safety-fixes-satisfy-nhtsa-156197.html#ixzz1j6Hp9tAW
GM appears to have satisfied the National Highway Traffic Safety Administration with its response to Chevrolet Volt safety concerns. After GM’s quick reaction and generous offers to Volt owners worried about their cars catching on fire, the NHTSA’s David Strickland told reporters at the 2012 Detroit auto show that automotive safety regulators appreciate GM’s Volt fixes, Bloomberg reports.
After an electrical fire started from a Chevrolet Volt three weeks after it had been crash tested by the NHTSA, GM’s safety structure tweaks include adding a sensor in the battery coolant system reservoir, adding a tamper-resistant bracket to the top of the reservoir to prevent coolant overfill, and protecting the battery pack with a metal brace. The fixes will be offered free to all current Volt owners and take about two hours to install at a dealer.
Read more: http://wot.motortrend.com/gms-chevrolet-volt-safety-fixes-satisfy-nhtsa-156197.html#ixzz1j6Hp9tAW
Yuri Zhivago
Mayor
***** !!!!!
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