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How long can GM survive under Obama's thumb?

Georgia50 2012/09/23 21:15:54
I thought Gov. Granholm said Obama saved GM and all kinds of jobs? Doesn't look too rosy to me! Looks like you libs need to get your ass down to the showroom floor and put your money where Obama's mouth is!

Only one GM model seeing double-digit growth over last year...

obomotors

No one wants to drive a loser car assembled by losers and bailed out by a loser. It's just that simple.
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  • Red Branch 2012/09/23 22:33:44
    Red Branch
    +2
    GM will probably survive longer than Obama's presidency.
  • Georgia50 Red Branch 2012/09/23 23:10:36
    Georgia50
    +1
    May we all outlive the Obama national nightmare!
  • Red Branch Georgia50 2012/09/24 03:16:41
    Red Branch
    +1
    I hope so.
  • Georgia50 2012/09/23 22:14:48
    Georgia50
    +1
    Liberals are excited to be passengers on the Good Ship Obama. So it cannot occur to them that this hater of all things American, all things capitalist, and all things Western would count it a great honor to be the undoing of General Motors. Obama wants this feather in his cap, and he knows if Romney gets in, and if he cannot destroy GM by January, Romney will set in motion the rehabilitation of GM along market principles--thus ensuring its survival for another generation.

    The GM bailout was a temporary anesthetic. As the numbers above indicate, and as GM officials are aware, the government connection is now a costly burden to GM. But the Obama administration will not let GM buy its own stock back--at any price. Obama has GM by the jugular and he's not letting go.

    Hope all you dumbass UAW clowns are happy. For now.
  • Don 2012/09/23 22:13:05
    Don
    +1
    Not long when they are giving more than 10K away on every Volt Empty Suit makes them sell.
  • Al B Thayer 2012/09/23 21:59:04
    Al B Thayer
    +2
    GM is still owned by Government. They hold 20 some percent of their stock and it's in the tank and showing no signs of recovering. Little Timmy set up a Line of credit they use that never gets figured into the pay back but clearly should. GM is in deep do do.

    They lose over $40,000 on every Volt they sell. Plus we the people have to pay the buyer a $7000 rebate. How does this make business sense?

    GM didn't get saved, they didn't pay back their loan and they are going down big time. Something that government involvement only made worse and delayed what was inevitable.
  • T. Bejma Al B Th... 2012/09/24 15:37:58
    T. Bejma
    "going down big time"

    So, explain to me why GM stock is up about 30% YTD and Ford is down about 4%?
    http://seekingalpha.com/artic...

    "lose over $40,000 on every Volt"

    This has been proven incorrect several times...
    http://www.forbes.com/sites/b...

    GM did pay back the loan...

    "GM: repaid $23.1 billion of the $49.5 billion it got from the U.S. Treasury, including all of its outstanding loans. But Treasury still owns 500 million shares, or 32%, of GM stock."
    http://www.forbes.com/sites/j...

    I work at GM (and my opinion is my own) and can tell you that we are doing very well in North America and it shows in Michigan. Our unemployment that used to be one of the worst in the country is now one of the best and our housing market is starting to come back. In addition we have been getting great reviews on our new vehicles and have the redesigned trucks coming out next year.

    Stop with the doom and gloom...
  • Al B Th... T. Bejma 2012/09/25 02:13:05
    Al B Thayer
    I hope the best for you.
  • Georgia50 T. Bejma 2012/09/26 22:42:38 (edited)
    Georgia50
    1. 30% higher than the toilet is not saying much. Check the GM stock from 1/1/11 forward. Market cap cut in half.

    2. Depends on whether one wants current production to bear all the Volt's development cost, which is not the usual calculation. Still, no one ever expects the Volt to turn a profit, including Lutz. Btw, still waiting on GM to provide the USUAL CALCULATION.

    3. Even if GM repays all federally backed loans with interest, Obama will absolutely not release its stranglehold vis-a-vis government ownership of GM stock.

    I fear you are drinking UAW koolaid. For what it's worth, I hope you're right for your sake.
  • Dale 2012/09/23 21:31:16
    Dale
    +2
    GM now wants G(overnment) M(otors) to sell all of the shares they own soonist, no matter how much of a loss to the Government. Managment of GM is now starting to feel the hard heel of G(overnment) M(otors) and it is not feeling to good. But Government will not as long as the vote of the "Workers"(Now that word in this context certainly sounds right out of the old Soviet Union.) are available to push for the continuation of rule of the current regime.
  • Georgia50 Dale 2012/09/23 21:35:58
    Georgia50
    +2
    Yep...NOW GM wants out, and the Obama regime refuses to let GM buy its stock back. GM would have been into and out of bankruptcy court by now...with a whole new UAW deal more favorable to today's market conditions.

    I stopped being a Ford fan after the way they treated Firestone, but Ford is looking very good compared to GM and Chrysler.
  • Dale Georgia50 2012/09/23 21:41:50
    Dale
    +1
    I am a fan of Ford if for no other reason then they had enough of their chit together they did not need to be bailed out.
  • T. Bejma Dale 2012/09/24 15:40:55
    T. Bejma
    +1
    Oh, they took the money too...

    http://www.freep.com/article/...

    "Ford Motor owes the government $5.9 billion it borrowed in June 2009, the same month GM filed for bankruptcy."

    "While not characterized as a “bailout” by any means, let’s be honest: Ford’s loan – received at a critical time when other sources of financing weren’t available to automakers or their suppliers – no doubt helped the carmaker survive the industry crisis and contributed to its strong market position today"

    http://www.forbes.com/sites/j...
  • Dale T. Bejma 2012/09/24 16:01:28
    Dale
    +1
    Was not aware. Thanks for the link.
  • Al B Th... T. Bejma 2012/09/25 02:17:13
    Al B Thayer
    Well when My business starts to go down I know I can call on the tax payers to foot the bill for my bail out too. Right?
  • T. Bejma Al B Th... 2012/09/25 02:37:48
    T. Bejma
    Yes, it's called Bankruptcy and in the end we all pay, even if you don't pay taxes.
  • Al B Th... T. Bejma 2012/09/26 01:13:17
    Al B Thayer
    I don't know what warm piss your union boss is feeding you but the GM bail out was nothing like any other Bankruptcy.

    Your stock isn't up 30%. It's propped up, but that's all. Lastly you didn't pay back the loan. Little Timmy set up a line of credit they are using to pay with and if it weren't for mandated fleet sales you wouldn't sell duke.

    I wasn't going to rain on your parade and I wish along with the bail out you could cut yourself some humble pie and stop banging the drum while you got your hand in our pocket.

    Government is never the answer.
  • T. Bejma Al B Th... 2012/09/26 13:39:13
    T. Bejma
    I am not an hourly union worker, I am a salaried Engineer, so your union bashing doesn't work with me.

    Fleet sales are actually down this year, so try again.

    I agree that Government was not a good answer, unfortunately it was the only answer. Instead of living in the past, which you can never change, you should be helping to get "your" money back by supporting GM because that helps you and beating us down hurts "your" investment...
  • Al B Th... T. Bejma 2012/09/27 01:17:51
    Al B Thayer
    I wasn't comparing fleet sales to last years sales. Think of how much lower sales would be if Barry hadn't mandated the sales. More of my money.

    Funny how easy it is for you to call my tax dollars an investment.

    It wasn't the only answer. Just what do you think GM deserved for running the company in the ground and ruining so many peoples lives. You jagoffs still paying those big bonuses?
  • T. Bejma Al B Th... 2012/09/27 13:08:46
    T. Bejma
    What would you call "your" tax dollars? a gift to the government? Because that is about how much control you have over them. Most of the GM bashers talk like the government is your own private stock broker and if they complain enough, the government will say "oh, sorry about that, what would you like us to do with "your" money?" but that will never be the case.

    GM WAS a poorly run company, hence the Bankruptcy, as was Ford, hence their mortgaging of the farm to prevent Bankruptcy, as was Chrysler. I don't know about the others, but GM knew this before Bankruptcy and was working to change it. If the BANKS would not have collapsed, GM would have presented their plan, got some loans and continued on, albeit at much slower pace of improvement. But the BANKS DID collapse and we were not able to get loans and that was NOT our fault. So, did we deserve what we got? Partially, but definitely not completely. Regardless, as much as you don't agree with it, you can't change rewrite history. It is done. Let's move on.

    We do not get big bonuses. In lieu of regular annual wage increases we get annual lump sums and merit increases. Our pensions are gone, we have 1/3 the people so we do 1/3 more work than we did but it is still a VERY GOOD PLACE TO WORK! Our leaders communicate with us, we are empowered to make decisions, our focus is on building and selling the best vehicles in the world and I am encouraged by improvements I see everyday...
  • Georgia50 T. Bejma 2012/09/26 00:08:39
    Georgia50
    Completely different program available to any qualified automaker and/or battery manufacturer...as your own link attests.
  • T. Bejma Georgia50 2012/09/26 13:42:36
    T. Bejma
    +1
    You are correct, it was available to all, but all the other automakers other than Ford, NIssan, Tesla and Fisker refused it.
  • Tee Quake 2012/09/23 21:19:59
    Tee Quake
    +2
    As long as he needs the Unions' vote.
  • Georgia50 Tee Quake 2012/09/23 21:36:55
    Georgia50
    +1
    And as usual, the union has no idea what's good for it. So they ignorantly process themselves (eventually) out of a job.

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