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General Motors Ranked 5th on Forbes 500... Thank you Obama, or we should have let them go under?

Met 2012/05/07 17:13:46
Good job Obama, you got one right!
We should have let these Americans lose their jobs, then blamed Obama. (cuz you know that's what would have happened)
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I'm not a big fan of GM. I hate Chevy, and can't stand Cadillacs, but their turnaround has been nothing short of Miraculous, given how close they were to going under just 3 years ago.

After Obama Approved a capitalist loan to bail out the troubled American Auto Manufacturer, GM is not only repaying the loan with interest, but kicking ass as a corporation again, getting honored by making the 5 spot on the Forbes 500.

Thank you Obama, or just jobs we should have let go?
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  • Keeping It Real 2012/05/07 17:44:54
    Good job Obama, you got one right!
    Keeping It Real
    +18
    The president got more then one right and if it wasn't for his leadership our economy would have fallen off the cliff to say the least! obama 2012 in glitter

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  • apacheh... Met 2012/05/08 21:16:55
    apachehellfire65
    they were not on top of anything. they had more then one chance to end it before it happened.his whole stance for the eight years as potus. is what made them think they could attack us in the first place.do you think they would have dared to try something like 9/11 during the Reagan years?as far as your Intel they got that from the ISRAELIES! clinton's CIA and military cutbacks had blinded us in the Intel field overseas.
  • susan 2012/05/08 13:59:37 (edited)
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    susan
    +4
    Actually, most of the GM workers would not have lost their jobs. The massive company, including many divisions under that label that were not manufacturing vehicles- including its financial services division -- would have been broken up into smaller, more efficient companies under the terms of bankruptcy reorganization.

    The very generous but underfunded GM pension funds were the cause of GM's downfall, not its business model. We the taxpayer are now funding those pensions at the expense of the pension funds of the rest of us across the country.
  • Met susan 2012/05/08 14:27:10
    Met
    +1
    So stunning success is bad, because mediocre failure was an option?

    Lmao.
  • susan Met 2012/05/08 20:03:14
    susan
    +1
    There is no stunning success. Instead, we now have a taxpayer-owned Government Motors, subsidized and protected by the might of the federal government. How many more industries will be "nationalized" in the race to pay for Obama's follies and the rush to national bankruptcy?
  • Racefish 2012/05/08 13:55:24
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    Racefish
    +1
    On the negative side, they still haven't paid back everything the administration gove them, whereas Chrysler has.
  • Met Racefish 2012/05/08 14:28:04
  • Racefish Met 2012/05/09 19:22:14
    Racefish
    I thought that was a turtle on his head. But then what does that have to do with this thread????
  • Mike 2012/05/08 13:52:03
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    Mike
    +7
    GM employs over 200,000 people which 68,000 are American - roughly 30% - Great job Obama 70% of GM employe's live in other countries
    Obama also gave GM 12 Billion for their broke pension plan, since when does the tax payer bail out pension plans ? While our seniors barely survive on SS cuts
    Where are all these jobs you promised Barry
  • Met Mike 2012/05/08 14:28:37
    Met
    +1
    SS cuts your republicans are pushing?

    Nice.
  • Mike Met 2012/05/08 14:33:47
    Mike
    Yeah sure Okay - aren't we in the no spin zone. Mt mother received a correspondence in the mail from SS, and its quite the opposite
  • Flowers Mike 2012/05/08 14:33:02
    Flowers
    +2
    i agree. Why couldn't the big bosses take THEIR pension plans and fund their OWN COMPANIES PENSIONS with that instead of demanding the government do it instead? because they are greedy, and irresponsible and didn't want to give up what they put aside for themselves. It's "their" company, they should have been responsible for fixing the pension issues. but, business rules our government and they obviously made it work for them. Seniors and the rest of the country continues to suffer.
  • Seonag 2012/05/08 13:43:41
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    Seonag
    +6
    Actually, I'll thank Obama when GM pays all the money back it owes! GM wouldn't have gone under anyway. They'd have reorganized the the Unions would have ended up with less control than they have.
  • Met Seonag 2012/05/08 14:29:41
  • Cognito22 2012/05/08 13:20:17 (edited)
    Good job Obama, you got one right!
    Cognito22
    +3
    http://www.forbes.com/2010/04...

    But wait! Even that's not the full story given that GM, which has not yet broken even, much less turned a profit, can't pay even this puny amount from its own earnings.

    So how is it paying it?

    As it turns out, the Obama administration put $13.4 billion of the aid money as "working capital" in an escrow account when the company was in bankruptcy. The company is using this escrow money--government money--to pay back the government loan.

    GM claims that the fact that it is even using the escrow money to pay back the loan instead of using it all to shore itself up shows that it is on the road to recovery. That actually would be a positive development--although hardly one worth hyping in ads and columns--if it were not for a further plot twist.
  • Met Cognito22 2012/05/08 14:29:16
  • Cognito22 Met 2012/05/08 15:40:25
    Cognito22
    +1
    Just the facts, ma'am. Just the facts.
  • Jimbo 2012/05/08 13:03:04
    Good job Obama, you got one right!
    Jimbo
    +2
    Far more than one. Nearly everything in fact.

    http://pleasecutthecrap.typep...
  • Wahvlvke 2012/05/08 12:57:10
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    Wahvlvke
    +3
    General Motors is a lot more than cars. The question is whether GM's problems were throughout or solely in the car business and is this "miraculous" recovery in the car division or elsewhere.
  • ray 2012/05/08 12:53:02
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    ray
    +9
    The premise here is false , Gm intended to reorganize ( bankruptcy) and arrange a payments to creditors.

    Instead the company was Seized by the government , stolen from the owners and given as a bribe for political support . Then Given Billions dollars to build $300,000 thousand dollar cars to sell for $50,000 with a $75000 dollar check to any who would buy them.
    Still couldn't sell the junk. Profits can be made moving the company out of the country.
    GM then uses those billions of dollars to outsource the factory to Mexico.
    2011
    GM To Build Engines In Mexico
    http://www.manufacturing.net/...
    2011
    GM plant in Mexico will build Sonics starting in mid-2012
    http://www.soldiersofsolidari...
    2010
    After Receiving Bailout, GM May Move Volt Production to China
    http://www.theblaze.com/stori...

    So if you willing to steal factories for free, then pump tens of billions into a company and lose half of it , Have the company PAY NO TAXES ( News for GM pays no taxes https://www.google.com/search... ) , while the CEO's pay themselves millions of dollars and bonuses ( GM Bonuses Paid To White-collar, Blue-collar Workers Top $500 Million http://www.huffingtonpost.com... ) then you too have a chance be a top rated company as long as you have the right political coinage.
    The premise here is false , Gm intended to reorganize ( bankruptcy) and arrange a payments to creditors.

    Instead the company was Seized by the government , stolen from the owners and given as a bribe for political support . Then Given Billions dollars to build $300,000 thousand dollar cars to sell for $50,000 with a $75000 dollar check to any who would buy them.
    Still couldn't sell the junk. Profits can be made moving the company out of the country.
    GM then uses those billions of dollars to outsource the factory to Mexico.
    2011
    GM To Build Engines In Mexico
    http://www.manufacturing.net/...
    2011
    GM plant in Mexico will build Sonics starting in mid-2012
    http://www.soldiersofsolidari...
    2010
    After Receiving Bailout, GM May Move Volt Production to China
    http://www.theblaze.com/stori...

    So if you willing to steal factories for free, then pump tens of billions into a company and lose half of it , Have the company PAY NO TAXES ( News for GM pays no taxes https://www.google.com/search... ) , while the CEO's pay themselves millions of dollars and bonuses ( GM Bonuses Paid To White-collar, Blue-collar Workers Top $500 Million http://www.huffingtonpost.com... ) then you too have a chance be a top rated company as long as you have the right political coinage.
    (more)
  • Jimbo ray 2012/05/08 13:07:35
    Jimbo
    +1
    Nonsense! Without the bridge loan the bankruptcy court would probably have gone Chap. 10 liquidation. The government would get theirs, next in line would be pensioners, shareholders would have gotten zippo. Shareholder today have 10% of a viable corporation. All the spin about bankruptcy court reorganization is just spin when the numbers are crunched. No deal to give the pensioners part of the corporation would have them taking their end in bankruptcy court making liquidation a probability. Part of what they gave up is jobs for a better return on their stockholdings.
  • ray Jimbo 2012/05/08 13:35:02
    ray
    +3
    "Without the bridge loan the bankruptcy court would probably have gone Chap. 10 liquidation"
    What would have happened in court will never be known as the Government Seized the company without the benefit of courts. Never found the section of the constitution that allowed Obama to take companies by force , surely it is legal.
  • Flowers ray 2012/05/08 14:35:21
    Flowers
    +1
    not really shocked at all about all that Ray. Disappointed, but not shocked.
  • dave b 2012/05/08 12:39:44
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    dave b
    +5
    Gotta love the lwnj spin on this question. It never fails to amaze me how they can twist and turn facts in a way that makes Conservatives look bad to the knee jerking ignoramouses out there who are clueless to facts anyway.
    Those are the Obama voters.
  • Met dave b 2012/05/08 14:30:50
    Met
    I notice that while your'e blaming me for knee jerk reactions... that's the only thing you've offered to the conversation...
    notice blaming knee jerk reactions offered conversation
  • dave b Met 2012/05/09 00:25:30
    dave b
    +1
    Were you attempting to make some sort of point?
  • AM 2012/05/08 12:34:09
  • Jimbo AM 2012/05/08 13:10:13
    Jimbo
    +1
    If nothing was offered to the pensioners next in line (after the gov't), by what magic could you convince them to not want their pension amounts in bankruptcy court. By what magic could GM pay it's creditors without a bridge loan. You may now go back down the rabbit hole into conservative Wonderland.
  • AM Jimbo 2012/05/08 14:02:29
  • tom C Jimbo 2012/05/09 03:44:17
    tom  C
    the judge in bankruptcy court deceides who gets paid not the pensioners...
    they have no voice in wether they get the pension amounts..
  • CFlyJuice 2012/05/08 12:09:37 (edited)
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    CFlyJuice
    +8
    Unfortunately the question is a joke.



    MANY people including Romney said to have GM go through "STRUCTURED BANKRUPTCY" and they would have been MUCH better off than they are today:



    GM STILL OWES THE AMERICAN TAX PAYER MORE THAN TWENTY FIVE BILLION DOLLARS!



    YOU CALL THAT A SUCCESS???

    http://news.investors.com/art...


    It was Obama screwing the investors in GM just to pay off the Unions for their donations to his campaigns.... past and for 2012.

    PAY TO PLAY - THE CHICAGO WAY

    pay to play
  • cheshirewayne 2012/05/08 12:08:08
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    cheshirewayne
    +5
    The game is not over yet. They are still living off the grant money that they used to pay off the loan. You need to give them another 5 years to see what the real effect of giving a union run corporation billions of dollars. Once they have to support themselves, the picture will change. Look at Chrysler. Neither is doing as well as Ford.
  • Cliff 2012/05/08 11:04:04
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    Cliff
    +6
    So why don't we spend another trillion to move GM up another notch? Heaven forbid that GM should have gone bankrupt. Just think of all them union donations to Obama that would have been lost.
  • Wahvlvke Cliff 2012/05/08 13:00:10
    Wahvlvke
    +2
    Bingo!
  • aneed2know 2012/05/08 07:29:26
    Good job Obama, you got one right!
    aneed2know
    +3
    Way to go Mr President, Up yours Romeny
  • bienvenu.Mole 2012/05/08 06:56:51
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    bienvenu.Mole
    +3
    I'm not a big fun of gm.
  • mark 2012/05/08 05:46:40
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    mark
    +6
    Actually , neither answer really applies.

    It wasn't the bailout that bothered me.
    It was the fact that on top of the bailout GM was allowed to relieve itself of debts that were owed to other companies. A local sign company that was contracted to provide GM signage lost around 2.1 million dollars that it was owed by GM. As a result the company went out of business and jobs were lost. In fact , many businesses that supported GM closed their doors permanently while GM did not. When GM was bailed out they should have had to pay their business debts , not be relieved of those debts.
  • aneed2know mark 2012/05/08 07:31:31
    aneed2know
    +1
    so what would have happened to those other thousands and thousands of business and the people who worked for them, if GM had gone under? Or is it that this one company is more important?
  • Wahvlvke aneed2know 2012/05/08 13:01:57
    Wahvlvke
    +1
    Still working hard to polish the turd I see.
  • Met Wahvlvke 2012/05/08 14:32:27
    Met
    +1
    I guess if that's all you got..

    guess
  • Wahvlvke Met 2012/05/08 20:47:31
    Wahvlvke
    How true.

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