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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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  • aneed2know Theresa 2012/05/08 07:36:59
    aneed2know
    liar
  • Boomer aneed2know 2012/05/08 12:47:18
    Boomer
    +2
    You are the liar, read it and weep libby:
    General Motors Co. (GM), the world’s biggest automaker, is poised to receive approval to build a 7 billion yuan ($1.1 billion) factory in China, according to a provincial government statement.

    The plant, operated by GM’s passenger-car venture with SAIC Motor Corp. (600104), will have annual production capacity of 300,000 vehicles and be located in the central city of Wuhan, the Hubei Environmental Protection Bureau said on its website. Shanghai GM is satisfied with its current capacity arrangements and has yet to make a decision on building a new factory in Wuhan, said Jerry Ma, a Shanghai-based spokesman.

    The factory would increase GM’s passenger-vehicle capacity by about 15 percent in China.

    Feb. 10 (Bloomberg) -- Ivo Naumann, Shanghai-based managing director at consulting company AlixPartners, talks about the global auto industry. He speaks with John Dawson on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
    .
    The statement comes less than two months after China’s government moved to end a seven-year policy of encouraging foreign companies to invest in the nation’s carmaking industry. The factory would increase GM’s passenger-vehicle capacity, estimated at 2 million units last year by research firm IHS Automotive, by a...













    You are the liar, read it and weep libby:
    General Motors Co. (GM), the world’s biggest automaker, is poised to receive approval to build a 7 billion yuan ($1.1 billion) factory in China, according to a provincial government statement.

    The plant, operated by GM’s passenger-car venture with SAIC Motor Corp. (600104), will have annual production capacity of 300,000 vehicles and be located in the central city of Wuhan, the Hubei Environmental Protection Bureau said on its website. Shanghai GM is satisfied with its current capacity arrangements and has yet to make a decision on building a new factory in Wuhan, said Jerry Ma, a Shanghai-based spokesman.

    The factory would increase GM’s passenger-vehicle capacity by about 15 percent in China.

    Feb. 10 (Bloomberg) -- Ivo Naumann, Shanghai-based managing director at consulting company AlixPartners, talks about the global auto industry. He speaks with John Dawson on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
    .
    The statement comes less than two months after China’s government moved to end a seven-year policy of encouraging foreign companies to invest in the nation’s carmaking industry. The factory would increase GM’s passenger-vehicle capacity, estimated at 2 million units last year by research firm IHS Automotive, by about 15 percent, easing the strain on existing plants that are producing cars in excess of their normal output.

    “GM has been running with tight capacity and the expansion will make the company even more competitive,” said Cao He, an analyst with China Minzu Securities Co. in Beijing. “To have a foothold in central China will also bring GM closer to its clients there and lower logistic costs.”

    GM makes vehicles in the eastern province of Shandong, the southern province of Guangxi, the northeastern city of Shenyang and the eastern city of Shanghai.

    Biggest Vehicle Maker

    The move may also help widen GM’s lead as the biggest foreign automaker in the world’s biggest vehicle market. Its deliveries to Chinese dealers rose 8.3 percent to 2.55 million vehicles in 2011, outpacing the 5.2 percent growth in the nation’s passenger-car industry. Still growth slowed from 2010, when GM sales jumped 29 percent.

    GM is counting on China and the U.S. to drive earnings growth this year as it faces mounting competition from Japanese carmakers led by Toyota Motor Corp. (7203), who are boosting production after restoring production disrupted by natural disaster last year.

    In Europe, the financial crisis is raising the pressure for the Detroit-based carmaker to turn around its unprofitable Opel unit. Chief Executive Officer Dan Akerson has lost more than $2.34 billion on GM’s European operations since pushing to call off the sale of the Opel brand in late 2009.

    For the Shanghai GM passenger-car venture, which is expanding capacity in two existing plants in the cities of Shenyang and Yantai, the new factory will provide enough capacity for the company to meet its target of selling 1.3 million vehicles in China this year, Ma said. Shanghai GM sold 1.2 million vehicles last year, it said Jan. 9.
    (more)
  • aneed2know Boomer 2012/05/09 04:21:57
    aneed2know
    Again none of the money went China all was used in the US, you are talking about the joint venture that GM has with a joint ventures in China, which aren't wholly owned subsidiaries.

    So as i said none of the money went to China you freaking liar, stop it because i will tear you a new one, you freaking idiot i can read also.
  • Boomer aneed2know 2012/05/09 12:31:41
    Boomer
    Try to read the whole article moron, if they had the money for this venture why the hell did we the tax payers had to bail them out? Where the f**k do you think they got the money from, god you are dense!!!!!
  • No nons... aneed2know 2012/05/08 15:04:26
    No nonsense NanC...don't BS me!
    +1
    Thank you for your "classy" response. Next time try a little substance please.
  • diane RN No nons... 2012/05/08 04:33:27
    diane RN
    +3
    Yes they do but its being covered up, there is no real evidence that they did. Former shareholders got screwed.
  • Boomer diane RN 2012/05/08 12:47:54
    Boomer
    +1
    See my answer to him above to prove your point.
  • No nons... diane RN 2012/05/08 15:08:03
    No nonsense NanC...don't BS me!
    +3
    Isn't that the 0bama way. GE, for example, whose CEO sits on 0bama's jobs
    committee, sends many of its jobs to China.
  • diane RN No nons... 2012/05/08 19:01:42
    diane RN
    +2
    There's lots of info on this ..... for those who like snopes http://www.snopes.com/politic...
  • No nons... diane RN 2012/05/08 19:47:49
    No nonsense NanC...don't BS me!
    +2
    good one.
  • AL No nons... 2012/05/08 04:38:07
    AL
    +3
    WOW! I guess they forgot all about that one!
  • No nons... AL 2012/05/08 15:10:17
    No nonsense NanC...don't BS me!
    +2
    0bama cleverly lies to make himself look better, but anyone who doesn't want to
    be wooed by 0bama, knows the real truth.
  • AL No nons... 2012/05/08 05:38:33
    AL
    +4
    Oh thats O.K.-they never planed on paying it back anyway!
  • tom C 2012/05/08 02:27:12 (edited)
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    tom  C
    +7
    You must have forgotten part of history.....

    GM did go under...They went through bankruptcy.......and wiped out stockholder value..

    so when you think Obama saved them....think again...they went bankrupt...and they still owe money to the taxpayers...who were given no voice in how tax dollars were used to prop up a PRIVATE company..and how much did it cost us???

    http://money.cnn.com/2009/06/...
  • TheTailor tom C 2012/05/08 04:05:55
    TheTailor
    The loans will be repaid with interest. Stocks are always a risk, it was the bondholders that got screwed in favor of the UAW.
  • diane RN TheTailor 2012/05/08 04:37:43
    diane RN
    +3
    You mean the stockholders, right? They got the shaft.
  • TheTailor diane RN 2012/05/08 05:24:07
    TheTailor
    +2
    No, the bond holders, yet the unions got stock from the government with no investment. Stock is a risk, bonds are secured, except this time.
  • AL TheTailor 2012/05/08 04:39:17
    AL
    +3
    Repaid? LOL! When?
  • TheTailor AL 2012/05/08 05:25:05
    TheTailor
    I guess you didn't hear about GM's IPO, the government now has about a 33% stake, and it lost control.
  • AL TheTailor 2012/05/08 05:32:21 (edited)
    AL
    +1
    (F) that Bull Sh**! All I want to know is- when these damn crooks are going to pay US tax payers back!
  • TheTailor AL 2012/05/08 14:37:33 (edited)
    TheTailor
    They have paid the loans back, with interest. They also bought back half the stock the government owns after their IPO. The government is now a stockholder like any other, they can sell their stock at any time.
  • AL TheTailor 2012/05/09 07:12:42
    AL
    NOT To the tax payers that bailed them out they haven't
  • TheTailor AL 2012/05/09 13:39:59
    TheTailor
    They haven't what?
  • tom C TheTailor 2012/05/08 14:38:38 (edited)
    tom  C
    when they went into bankruptcy the stock went to .40 CENTS.....the stockholders who many were average guys,,autoworkers who had there life savings in the company...lost their retirement nestegg.......so you say oh well???
    And Obama tookk it...wiped it out...and taxpayers are paying the bill...
    great recovery you say..... well when they went to bankruptcy ...they layed off another 20,000 people....and in addition closed 2,000 dealerships...how many jobs is that...???

    If you remember ,Obama fired the CEO Wagner...and the reason ...?? because Wagner didn't want to cut those 20,000 jobs....
    But obama did...yet he talks about all he is doing to save jobs....he is full of crap...
    over and over he has single handedly cut good jobs...
    The OIL industry,offshore drilling,,NASA....and the list goes on..
  • TheTailor tom C 2012/05/08 14:54:22
    TheTailor
    +2
    Yes, I say "Oh well", if you invest in stock you take a RISK. They didn't whine when they got dividends for the entire history of the company, AND they always had the ability to sell. Anyone that places ALL of their retirement in one place deserves to lose, they are stupid. Wagoner was a great CEO, it was a mistake to force him out, and yes, the government knows nothing about running the company, so that complicated matters as they temporarily held the largest block of stock. That isn't the case today however.

    Are Obama and his minions (Marxist "progressives") a shipwreck when it comes to any government function? YES.

    VOTE PROGRESSIVES OUT
  • diane RN tom C 2012/05/08 04:36:49
    diane RN
    +3
    I have friends that got screwed royally on that deal.
  • No nons... tom C 2012/05/08 15:20:00
    No nonsense NanC...don't BS me!
    +2
    From your article written June 2, 2009: "In the end, even $19.4 billion in federal help wasn't enough to keep the nation's largest automaker out of bankruptcy. The government will pour another $30 billion into GM to fund operations during its reorganization."

    GM lives on life support from the American taxpayers! As it was, the Union was paid off
    with taxpayer money instead of making the company more competitive.
  • Darnel 2012/05/08 02:23:45
    Good job Obama, you got one right!
    Darnel
    +1
    Well,.. more than a few right actually.
  • wers 2012/05/08 02:12:58
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    wers
    +8
    ANY business which cannot compete in a free enterprise society, should not be bailed out with taxpayer dollars to prevent them from going bankrupt....that is their fault, not any president's....if GM had not been bailed out, they would have reorganized, and HAD to restructure to the point of becoming competative.....LIKE FORD MOTOR Co. did! The reality of it is that if GM had failed, BUSH would have been blamed. Obama used billions of OUR dollars to buy union votes....and, remember the GM ads one year after the bailout, which stated: " GM has paid back ALL of the money borrowed from the US Government, with interest...." ...the interesting part of the ads was the FACT that only 10% of the loan had been paid back, with loan money, and the balance has been at a huge loss to the American taxpayer because of the devalued sale of the GM stock "we" were forced to own....so, let's not be too eager to praise GM, or Obama for saving GM....remember, Ford did it wothout taxpayer money, Chrysler did it with foreign ownership, and who really knows what the bottom line is with GM ????
  • TheTailor wers 2012/05/08 04:57:08
    TheTailor
    +1
    GM wouldn't have failed without government loans, that was just a threat to get the money. GM gets the loans and Obama looks like a hero while paying off the UAW. Why wouldn't GM execs take $60 billion in low interest loans from the government while it restructured? I think the government still has 33.3% ownership after the IPO, that's not controlling interest. The Volt isn't in production any longer, it's being made to order, that doesn't sound like a government decision ;-)

    I don't disagree that they should never have been given the money, but you can't deny they are the best businessmen in the world, they muscled the US government out of $60 billion. Of course it will eventually be repaid, with interest.
  • wers TheTailor 2012/05/09 00:11:34
    wers
    You are right.....GM pulled a number on all of us, Obama bought millions of votes with OUR money, GM didn't have to compete with Ford, and who knows if we willl ever be repaid....we certainly can't believe what the media tells us....thanks. Keep 'em honest.
  • TheTailor wers 2012/05/09 03:47:35
    TheTailor
    Of course GM will repay, with interest, but likely not in a hurry. Then when the bond holders sue, the union will lose the stock they hold in the company. The government had no right to give the UAW any stock.
  • wers TheTailor 2012/05/13 02:03:43
  • TheTailor wers 2012/05/13 03:09:59
    TheTailor
    Ya buddy, you too.
  • jool 2012/05/08 02:10:04
    We should have let these Americans lose their jobs, then blamed Obama. (cuz y...
    jool
    +6
    The choices are ridiculous! The Company should have gone through the channels of bankrupcy. They could have come out better! If you remember, the small GM motor companies all over the country were told they needed to shut the business down. The president shut down, "private business". I was furious. He has no right. They would of came out better going through a normal process. They still owe billions!
  • TheTailor jool 2012/05/08 04:58:18
    TheTailor
    +2
    It did go through bankruptcy, chapter 11.
  • jool TheTailor 2012/05/08 23:58:27
    jool
    You mean you followed the law....It works!!
  • TheTailor jool 2012/05/09 00:00:33
    TheTailor
    Me? I thought we were talking about GM.
  • jool TheTailor 2012/05/09 06:28:17
    jool
    Sorry, read it wrong. Gm,did go bankrupt but they let the government dictate the terms. It wasn't a normal bankruptcy.
  • TheTailor jool 2012/05/09 13:38:17
    TheTailor
    Actually it was Chapter 11, and the government didn't dictate any terms concerning it.

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