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Is GM Really Going to Go Bankrupt Again?

Yo'Adrienne..AFCL 2012/08/18 19:50:41
i SAY....."LET THEM GO THIS TIME!!!!! iF THEY CAN'T MAKE IT THEY DON'T DESERVE TO BE IN BUSINESS.!"

Louis Woodhill at Forbes seems to think so:

President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.

He’s right about the president being awfully proud of “rescuing” GM. Remember this from last week?

http://bcove.me/fxnzckl6

Considering that the feds still hold 500 million shares of GM stock, they’d have to find a way to offload them for about $53 apiece to recover the $49.5 billion spent in bailing out the troubled automaker. But if the stock continues to stay where it is, this means that the feds will end up posting a loss of more than $16 billion on bailing out GM.

Because of this dive in stock price, the Treasury Department was forced to revise its projected bailout losses upwards to $25.1 billion from $21.7 billion — an increase of 15 percent.

“It’s doubtful that the Obama administration would attempt to sell off the government’s massive position in GM while the stock price is falling. It would be too embarrassing politically. Accordingly, if GM shares continue to decline, it is likely that Obama would ride the stock down to zero,” Woodhill writes.

“GM is unlikely to hit the wall before the election, but, given current trends, the company could easily do so again before the end of a second Obama term,” he adds.

Read More: http://www.theblaze.com/stories/is-gm-really-going...

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  • ed 2012/08/18 20:46:54
    ed
    +5
    looks like it to me and I also remember when democrats and liberals argued that they had paid the first bailout back and were doing just great .What happened?

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Opinions

  • Tony 2012/08/20 13:30:28
    Tony
    Everything Obama touches dies
  • jubil8 BN-0 PON 2012/08/19 03:49:44
    jubil8 BN-0 PON
    +1
    If GM (and the UAW) can't survive with government support, f*ck 'em.
  • Yo'Adri... jubil8 ... 2012/08/19 18:27:26
    Yo'Adrienne..AFCL
    +1
    ditto!
  • mrk5panzer 2012/08/19 02:07:03
    mrk5panzer
    +1
    Not agian, say it ain't so!
  • Yo'Adri... mrk5panzer 2012/08/19 18:28:23
    Yo'Adrienne..AFCL
    +1
    Ford doing just fine....and they refused to take any bailout money.....maybe people admire that.......despite the government telling us....."YOU NEED US"!
  • Don Leuty 2012/08/19 01:04:58
    Don Leuty
    +2
    Pretty good bet. They traded one bad set of managers for a government certified set of bad managers.
  • Yo'Adri... Don Leuty 2012/08/19 18:29:31
    Yo'Adrienne..AFCL
    +1
    Chances are...you hit that one outta the park!
  • Red 2012/08/19 00:15:58
  • jubil8 ... Red 2012/08/19 03:57:23
    jubil8 BN-0 PON
    It might help if the UAW is forced to file for bankruptcy so there can be oversight. Bailing out GM really meant letting it keep paying UAW contracts. Flip it so the UAW is under the gun. Did you know that in 2009 a Toyota cost less than $30/hour (man hour), and a Chevy cost about $80? And yet Toyota workers live here too and apparently manage. So where is all that money that goes to GM REALLY going? Hmm???

    Of course, GM could also prune its products and try to be more competitive.
  • Red jubil8 ... 2012/08/19 04:06:28
  • jubil8 ... Red 2012/08/19 22:42:16
    jubil8 BN-0 PON
    +1
    Could be. But why should anyone buy a car that costs 2X as much as another and doesn't run as well? GM isn't being competitive.
  • Red jubil8 ... 2012/08/20 01:13:45
  • Don Leuty jubil8 ... 2012/08/20 04:20:14
    Don Leuty
    Delete the Volt and other losers. They have been reducing the parts down to a select few. Go the rest of the way.
  • Yo'Adri... Red 2012/08/19 18:30:33
    Yo'Adrienne..AFCL
    Maybe the UAW could put a moratorium on raises until they see the light at the end of the tunnel!
  • Red Yo'Adri... 2012/08/20 01:15:41
  • Don Leuty Red 2012/08/20 04:17:17
    Don Leuty
    The difference is we will be paying less that we do now. No more subsidies and the other manufacturers will absorb the business, and eventually these semi-skilled employees. It's a little like ripping a bandage off to get the pain behind you.
  • Red Don Leuty 2012/08/20 04:36:59
  • Don Leuty Red 2012/08/20 04:44:12
    Don Leuty
    +1
    Letting GM go will go a long way toward discrediting the unions influence and control. That is the reason 0bama came to the rescue. The UAW was a high-dollar contributor in need of a little government grease.
  • Red Don Leuty 2012/08/20 05:17:35 (edited)
  • Brian 2012/08/18 23:17:07
    Brian
    +3
    I say let 'em go, they sould have been let got the first time, they would not have gone under like they wanted everyone to believe. GM would have done what Ford DID do, sell off assets and down size like thousands of small companies did all over this country.

    If GM had done that they would have survived just like Ford, instead they choose to steal from the millions out of work and underemployed Americans all across this country.

    I can't for the life of me understand why anyone would buy a GM product now they kicked us when we were down and now if they go under we will never get the money back that Obama saw fit to blow on them.
  • Red Brian 2012/08/19 04:10:03
  • Brian Red 2012/08/19 07:57:25
    Brian
    +2
    The Left in this country has been following a plan to transistion this country away from free market capitalism for many many decades now. They have become bolder now, the purchase of GM stock with tax payer money and the rape and plunder of the Shareholders at Chrysler along with the new government mandated healthcare is evidence of their power, they will not go away easily. We in this country face some very difficult choices in the very near future.
  • Red Brian 2012/08/19 08:24:13
  • Yo'Adri... Brian 2012/08/19 18:32:26
    Yo'Adrienne..AFCL
    YES...exactly!
  • Yo'Adri... Brian 2012/08/19 18:31:57
    Yo'Adrienne..AFCL
    DITTO! verbatim!
  • ed 2012/08/18 20:46:54
    ed
    +5
    looks like it to me and I also remember when democrats and liberals argued that they had paid the first bailout back and were doing just great .What happened?
  • krayzrick ed 2012/08/18 22:22:23
    krayzrick
    +3
    it's called 'Bulls__t'....
  • Yo'Adri... krayzrick 2012/08/19 18:33:15
    Yo'Adrienne..AFCL
    +1
    bada boom!
  • Red ed 2012/08/19 04:11:49
  • ed Red 2012/08/19 10:49:00
    ed
    there's another post on the bailout of GM ,you need to check out.
  • Yo'Adri... ed 2012/08/19 18:33:02
    Yo'Adrienne..AFCL
    +1
    Who believes anything a democrat would say.??????
  • ed Yo'Adri... 2012/08/20 00:19:07
    ed
    a liberal for one
  • Vision of Verve 2012/08/18 20:42:19
  • krayzrick Vision ... 2012/08/18 22:21:41
    krayzrick
    +3
    since the 'bail out', Chevrolet has been building 70% of their cars outside of America.
  • Yo'Adri... krayzrick 2012/08/18 22:43:10
    Yo'Adrienne..AFCL
    +4
    Our money went a long way....didn't it.......all the way to Europe and Asia!
  • krayzrick Yo'Adri... 2012/08/18 22:44:36
    krayzrick
    +1
    Tell me why heads aren't swinging in Washington..
  • Yo'Adri... krayzrick 2012/08/19 18:35:06
    Yo'Adrienne..AFCL
    +1
    Call me in November.......we'll see who's still got one!
  • Yo'Adri... krayzrick 2012/08/19 18:34:30
    Yo'Adrienne..AFCL
    +1
    and that another thing that is so annoying............Bail them out for WHOM? Another foreign country?and how does that help us.??????
  • les_gvt 2012/08/18 20:17:04
    les_gvt
    +1
    this could be an interesting dilemma for him, because it would not only force him to admit to failure of some sort, but also give an idea on how he really views the unions. After this election, he would not need them any more to get re-elected, so if he is not as close to them as he tries to portray himself, he could leave them out to dry, but on the other hand, the Reugs we will have in Congress will hopefully not buy his crocodile tears either.

    It sounds like this is a lose-lose proposition for him
  • Yo'Adri... les_gvt 2012/08/18 22:44:15
    Yo'Adrienne..AFCL
    +2
    I'll bet you a quarter.............he will NEVER ADMIT FAILURE.....of any kind......Narcissists are like that.! He will blame it on BUSH.......

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2014/12/18 23:51:03

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