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
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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?
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?
Top Opinion
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Keeping It Real 2012/05/07 17:44:54Good job Obama, you got one right!
+18The 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!
The plants here in the south are managing just fine without them, and everyone i ask at the factories i have worked for says the same thing, the unions and their ilk can take a hike.
Only lazy morons need unions.
Tell that to the overworked air traffic controllers Reagan fired.
http://en.wikipedia.org/wiki/...
Where are you finding your info they were overworked?
Were you there?
Mcdonalds employees fry your food for you day in and day out, my sister works 14 hour shifts 4 days a week with one 4 hour day after that, does she need high pay for it?
No she makes 10 dollars an hour, mcdonalds guys get minimum wage, do they need a union? Does everybody on planet earth need a union to "represent" them?
Congress used to support the people that elected them, now they don't, got to corrupt, but i guess unions are exempt from this?
Grow up kid, You don't DESERVE 18 an hour pushing a milk crate for 8 hours a day, you don't even DESERVE a job. You are owed nothing in life except what you earn, But your not going to earn half as much as you want doing the work honestly.
The unions are a pyramid scheme, deny it all you want, but there is no way to get around that fact.
Also, ATC's were government employees then, as such they were hired under a contract, they SIGNED on a sheet of paper they would work in these harsh and stressful conditions for this pay with these benefits. But boohoooo, Its harder than i thought and even though i'm getting overtime I don't think i make enough or get enough time offff.....So I'm gonna be a little cry baby...
Where are you finding your info they were overworked?
Were you there?
Mcdonalds employees fry your food for you day in and day out, my sister works 14 hour shifts 4 days a week with one 4 hour day after that, does she need high pay for it?
No she makes 10 dollars an hour, mcdonalds guys get minimum wage, do they need a union? Does everybody on planet earth need a union to "represent" them?
Congress used to support the people that elected them, now they don't, got to corrupt, but i guess unions are exempt from this?
Grow up kid, You don't DESERVE 18 an hour pushing a milk crate for 8 hours a day, you don't even DESERVE a job. You are owed nothing in life except what you earn, But your not going to earn half as much as you want doing the work honestly.
The unions are a pyramid scheme, deny it all you want, but there is no way to get around that fact.
Also, ATC's were government employees then, as such they were hired under a contract, they SIGNED on a sheet of paper they would work in these harsh and stressful conditions for this pay with these benefits. But boohoooo, Its harder than i thought and even though i'm getting overtime I don't think i make enough or get enough time offff.....So I'm gonna be a little cry baby and not work.
They were ORDERED as FEDERAL EMPLOYEES, by the COMMANDER IN CHIEF to get back to work, they didn't, they got fired for not doing their jobs, happens all the time you know, people not doing their jobs. When people don't do their jobs the company loses money and people are put in danger because someones being a child.
It was pretty much the same complaints at Chrysler when i worked there....Just people who never learned to grow up and get to it. I was raised on a farm for most of my childhood, I learned early you get what you earn, I also learned to never sell yourself short.
90% of unions are a joke and shouldn't even exist, some others....such as the miners unions, are good things. But the UAW stopped working for its people back in the 90's.
People these days just don't have a work ethic thats worth a damn, and this is all it really boils down to.
Such is the way of a democrat, no ray of sunshine glimmers from eyes covered in their own colon.
Okay.
I generalized nothing btw, i stated a fact, big difference you know.
;)
How much of that has been paid to the treasury? Nothing.
So, a company that owns the treasury about $50B makes $1.7B in the first three months of 2012 and pays $0 to the treasury even though it should have paid 35% of that not to mention repayment of the taxpayer loan.
Let me explain it to you.
If Obama had not bailed out GM, the earnings of GM would have been the same or greater today. The only difference would that you and me (the tax filer, I can’t say taxpayer since I do not know if you do pay any taxes) would owned less to Chinese.
The problem is that this company does not pay required 35% of their earnings to the treasury. A little something that is required from other companies like GM, except GE.
So Ford do have to pay taxes on the earnings but not GM.
GM got the money because they could, why wouldn't they? The loans have been paid back with interest, half the stock the government held has been bought back after the IPO, and the GM board is in charge. The remaining stock will be bought back over time as profits permit.
GM's market problems were not caused by the union, but as it happens, the union in the long run will be less of a problem as a result of this reorganization.
sell American cars. The administration did not specify the money shouldbe spent
on American cars; so much of that cash for clunkers bought foreign made cars.