Home› A Moving Train

Bail out pay back from GM ?

Godfather.Godfather. Posts: 12,504
edited November 2010 in A Moving Train
http://money.cnn.com/2010/11/18/news/co ... htm?hpt=T2


Godfather.
Post edited by Unknown User on

Comments

  • blackredyellowblackredyellow Posts: 5,889
    I guess we'll have to wait to see how we fare after the remaining 33% stake in the company is sold, but it seems like things are heading in the right direction.
    My whole life
    was like a picture
    of a sunny day
    “We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
    ― Abraham Lincoln
  • Godfather.Godfather. Posts: 12,504
    I didn't think anybody had any intentions of paying back on bail outs I thought the tax payers would be doing that.

    Godfather.
  • OutOfBreathOutOfBreath Posts: 1,804
    Well, aren't the bailouts basically the government buying up a large portion of the firms, which can be sold on the upturn again for covering the cost and maybe a little profit?

    Peace
    Dan
    "YOU [humans] NEED TO BELIEVE IN THINGS THAT AREN'T TRUE. HOW ELSE CAN THEY BECOME?" - Death

    "Every judgment teeters on the brink of error. To claim absolute knowledge is to become monstrous. Knowledge is an unending adventure at the edge of uncertainty." - Frank Herbert, Dune, 1965
  • Godfather.Godfather. Posts: 12,504
    OutOfBreath wrote:
    Well, aren't the bailouts basically the government buying up a large portion of the firms, which can be sold on the upturn again for covering the cost and maybe a little profit?

    Peace
    Dan

    this whole thiong is a eye opener for me.

    Godfather.
  • Boxes&BooksBoxes&Books USA Posts: 2,672
    Godfather. wrote:
    OutOfBreath wrote:
    Well, aren't the bailouts basically the government buying up a large portion of the firms, which can be sold on the upturn again for covering the cost and maybe a little profit?

    Peace
    Dan

    this whole thiong is a eye opener for me.

    Godfather.


    Yeah - Obama's plan to take over the US auto industry and watch it all be destroyed didn't turn out that way, huh?

    :oops:


    you see godfather- obama isn't as bad as you think he is...... Next step is to find out that he really isn't a terrorist..... one step at a time... you'll get there.
  • Godfather.Godfather. Posts: 12,504
    tonifig8 wrote:
    Godfather. wrote:
    OutOfBreath wrote:
    Well, aren't the bailouts basically the government buying up a large portion of the firms, which can be sold on the upturn again for covering the cost and maybe a little profit?

    Peace
    Dan

    this whole thiong is a eye opener for me.

    Godfather.


    Yeah - Obama's plan to take over the US auto industry and watch it all be destroyed didn't turn out that way, huh?

    :oops:


    you see godfather- obama isn't as bad as you think he is...... Next step is to find out that he really isn't a terrorist..... one step at a time... you'll get there.

    I don't believe I said any of those things about him....not that I remember.

    Godfather.
  • CommyCommy Posts: 4,984
    GM should be owned by the american people. we bought it.



    and it should have been used to build public high speed transit for this country, something the US is terrible at providing. go to any other industrialized country in the world and they have some sort of high speed transit. GM workers, already skilled, could have been used to produce this service.



    the government stepped in to save the wealthy, forgetting or ignoring that they could have made this a better country to live in.



    another glaring example of who the state servess.
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    why doesn't gm just build things like hummers and tanks and combat vehicles in addition to autos? gm went belly up because people could not afford to buy their cars. god knows that our government can never have enough tanks and hummers and will always be able to pay for them somehow, meanwhile 2 million people will lose their unemployment benefits in 12 days...
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • Bronx BombersBronx Bombers Posts: 2,208
    gimmesometruth27 wrote:
    why doesn't gm just build things like hummers and tanks and combat vehicles in addition to autos? gm went belly up because people could not afford to buy their cars. god knows that our government can never have enough tanks and hummers and will always be able to pay for them somehow, meanwhile 2 million people will lose their unemployment benefits in 12 days...

    GM didn't go bankrupt because their cars were too expensive, they went bankrupt because they gave in too much to the unions over the years and had a huge amount of retirees. Pensions and health care benefits destroyed the company, they were spending almost 10 billion dollars a year alone on health care costs. It got to a point that they lost money on every car they sold. This is the same thing thats going to happen to the states, overinflated pensions of teachers, cops etc.
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    Bronx Bombers wrote:
    gimmesometruth27 wrote:
    why doesn't gm just build things like hummers and tanks and combat vehicles in addition to autos? gm went belly up because people could not afford to buy their cars. god knows that our government can never have enough tanks and hummers and will always be able to pay for them somehow, meanwhile 2 million people will lose their unemployment benefits in 12 days...

    GM didn't go bankrupt because their cars were too expensive, they went bankrupt because they gave in too much to the unions over the years and had a huge amount of retirees. Pensions and health care benefits destroyed the company, they were spending almost 10 billion dollars a year alone on health care costs. It got to a point that they lost money on every car they sold. This is the same thing thats going to happen to the states, overinflated pensions of teachers, cops etc.
    well those reasons you stated and the economy where nobody could even get a car loan also contributed. i bought my acura in january 2009 and i had money to put down and i did not get a great interest rate and i have great credit. people could not get loans and most people could not pay cash, so they were going to go under anyway if they could not move their products from the showroom floor.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • Boxes&BooksBoxes&Books USA Posts: 2,672
    Bronx Bombers wrote:
    gimmesometruth27 wrote:
    why doesn't gm just build things like hummers and tanks and combat vehicles in addition to autos? gm went belly up because people could not afford to buy their cars. god knows that our government can never have enough tanks and hummers and will always be able to pay for them somehow, meanwhile 2 million people will lose their unemployment benefits in 12 days...

    GM didn't go bankrupt because their cars were too expensive, they went bankrupt because they gave in too much to the unions over the years and had a huge amount of retirees. Pensions and health care benefits destroyed the company, they were spending almost 10 billion dollars a year alone on health care costs. It got to a point that they lost money on every car they sold. This is the same thing thats going to happen to the states, overinflated pensions of teachers, cops etc.


    Dude- no one was buying GM cars because they flat out sucked! Do you ever hear people talking about American cars lasting 300,000 miles? Here in CA people buy Toyota.... as a matter of fact we have the larges toyota dealer ship in the US, I think the average sales man sells about 30-40 new cars a month! No Joke- and there are over 25 sales men selling New cars- They also have a used car department that sells double that!

    GM's sales were crappy because those cars were not that stylish, they weren't all that good on Gas, and American cars had a bad reputation. Not everyone can afford to buy there better quality/manly cars-
  • unsungunsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    tonifig8 wrote:
    Bronx Bombers wrote:
    gimmesometruth27 wrote:
    why doesn't gm just build things like hummers and tanks and combat vehicles in addition to autos? gm went belly up because people could not afford to buy their cars. god knows that our government can never have enough tanks and hummers and will always be able to pay for them somehow, meanwhile 2 million people will lose their unemployment benefits in 12 days...

    GM didn't go bankrupt because their cars were too expensive, they went bankrupt because they gave in too much to the unions over the years and had a huge amount of retirees. Pensions and health care benefits destroyed the company, they were spending almost 10 billion dollars a year alone on health care costs. It got to a point that they lost money on every car they sold. This is the same thing thats going to happen to the states, overinflated pensions of teachers, cops etc.


    Dude- no one was buying GM cars because they flat out sucked! Do you ever hear people talking about American cars lasting 300,000 miles? Here in CA people buy Toyota.... as a matter of fact we have the larges toyota dealer ship in the US, I think the average sales man sells about 30-40 new cars a month! No Joke- and there are over 25 sales men selling New cars- They also have a used car department that sells double that!

    GM's sales were crappy because those cars were not that stylish, they weren't all that good on Gas, and American cars had a bad reputation. Not everyone can afford to buy there better quality/manly cars-


    It is all of the above.

    Companies need to get away from pensions and move towards 401k's.

    Chicago is in a huge pension crunch for the police, the administrators gambled with the money on risky stocks. Now the pensions are underfunded, but they are guaranteed. So the taxpayers are on the hook, again.

    Another reason why Illinois sucks, Democrats have run this state into the ground.
  • Boxes&BooksBoxes&Books USA Posts: 2,672
    Godfather. wrote:
    tonifig8 wrote:
    Godfather. wrote:

    this whole thiong is a eye opener for me.

    Godfather.


    Yeah - Obama's plan to take over the US auto industry and watch it all be destroyed didn't turn out that way, huh?

    :oops:


    you see godfather- obama isn't as bad as you think he is...... Next step is to find out that he really isn't a terrorist..... one step at a time... you'll get there.

    I don't believe I said any of those things about him....not that I remember.

    Godfather.


    Obama's Bail out of GM saved 1.4 million jobs..... how about a thanks for making the right decision during that difficult economic crises/moment. He could have let GM fail too, you know.
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    tonifig8 wrote:

    Obama's Bail out of GM saved 1.4 million jobs..... how about a thanks for making the right decision during that difficult economic crises/moment. He could have let GM fail too, you know.
    if the tea party had it's way gm would have failed, and 1.4 million additional american workers would be out of a job with no unemployment benefits....you know....because we have to trim a few billion from a nearly $1.5 trillion budget shortfall and nearly $13 trillion overall debt :roll:
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • Bronx BombersBronx Bombers Posts: 2,208
    The government needs GM shares to rise sharply over the coming years for it to be repaid in full. While the U.S. has agreed not to sell additional shares for six months, after that it is expected to gradually offload the rest of its stake.

    With Wednesday's sale, including the overallotment, the Treasury lost roughly $4.5 billion on GM shares it acquired at an effective cost of $43.84 apiece. The Treasury would need to reap $26.4 billion, or an average of $52.79 a share, on its remaining stake to break even.
  • KDH12KDH12 Posts: 2,096
    Bronx Bombers wrote:
    The government needs GM shares to rise sharply over the coming years for it to be repaid in full. While the U.S. has agreed not to sell additional shares for six months, after that it is expected to gradually offload the rest of its stake.

    With Wednesday's sale, including the overallotment, the Treasury lost roughly $4.5 billion on GM shares it acquired at an effective cost of $43.84 apiece. The Treasury would need to reap $26.4 billion, or an average of $52.79 a share, on its remaining stake to break even.


    needs $53 to break even

    I think that is possible however they need to hold longer than 6 months the government will probably cut their loses and sell, however most of the money will be recovered..... oh yeah TARP will end up making money as well
    **CUBS GO ALL THE WAY IN......never **
  • KDH12KDH12 Posts: 2,096
    Commy wrote:
    GM should be owned by the american people. we bought it.



    and it should have been used to build public high speed transit for this country, something the US is terrible at providing. go to any other industrialized country in the world and they have some sort of high speed transit. GM workers, already skilled, could have been used to produce this service.



    the government stepped in to save the wealthy, forgetting or ignoring that they could have made this a better country to live in.



    another glaring example of who the state servess.

    I agree however it would still require a huge financial investment from the feds

    public opinion will not be on that side for some time, but our country functions on a railroad system that is 100+ years old... it is sad
    **CUBS GO ALL THE WAY IN......never **
  • KDH12KDH12 Posts: 2,096
    Godfather. wrote:
    OutOfBreath wrote:
    Well, aren't the bailouts basically the government buying up a large portion of the firms, which can be sold on the upturn again for covering the cost and maybe a little profit?

    Peace
    Dan

    this whole thiong is a eye opener for me.

    Godfather.


    watch out

    next you are going to realize that health care reform is not the end of life as we know it
    **CUBS GO ALL THE WAY IN......never **
  • Godfather.Godfather. Posts: 12,504
    KDH12 wrote:
    Godfather. wrote:
    OutOfBreath wrote:
    Well, aren't the bailouts basically the government buying up a large portion of the firms, which can be sold on the upturn again for covering the cost and maybe a little profit?

    Peace
    Dan

    this whole thiong is a eye opener for me.

    Godfather.


    watch out

    next you are going to realize that health care reform is not the end of life as we know it


    well everything I am hearing about obama-care ain't so good if it was we wouldn't be having debates over it
    so is it a good thing or not ? let me know.

    Godfather.
  • keeponrockinkeeponrockin Posts: 7,446
    ^^The civil rights movement was debated, though now that's pretty much viewed (by 99% of the population) as a good thing.
    Believe me, when I was growin up, I thought the worst thing you could turn out to be was normal, So I say freaks in the most complementary way. Here's a song by a fellow freak - E.V
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    keeponrockin wrote:
    ^^The civil rights movement was debated, though now that's pretty much viewed (by 99% of the population) as a good thing.
    same with medicare, social security, and unemployment benefits.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • Jason PJason P Posts: 19,158
    Three thoughts on this . . .

    1) Man, wouldn't the democrats and Obama love to build a time machine set to one month ago and announce this news!

    2) GM quality was horrible in the 90's (former Jimmy owner); GM quality as of the last five years is outstanding (current Silverado owner)

    3) GM does have government contracts
    Be Excellent To Each Other
    Party On, Dudes!
  • Godfather.Godfather. Posts: 12,504
    Jason P wrote:
    Three thoughts on this . . .

    1) Man, wouldn't the democrats and Obama love to build a time machine set to one month ago and announce this news!

    2) GM quality was horrible in the 90's (former Jimmy owner); GM quality as of the last five years is outstanding (current Silverado owner)

    3) GM does have government contracts

    I just did the first tune-up on my silverado at 103,000 miles and still runs and drives great and the mechanic told me it's good for another 100,00 ez.

    Godfather.
  • WaveCameCrashinWaveCameCrashin Posts: 2,929
    Well acording to Obama (im paraphrasing) " GM autos are high quality,fuel efficient and can go toe to toe with any other manufactures in the world"

    It's funny How Obama loves to take credit for things when they work out,but he balmes Bush when they don't.
    Any company can survive when it has an unlimited budget from the Gov or us as tax payers.
    Instead of the tax payers getting screwed they should have just let bankrupcty taken it's course and they could have re structured everything. The only people that would have gotten screwed were ther creditors not us. Bush and Obama should have left it alone.
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    prfctlefts wrote:
    Well acording to Obama (im paraphrasing) " GM autos are high quality,fuel efficient and can go toe to toe with any other manufactures in the world"

    It's funny How Obama loves to take credit for things when they work out,but he balmes Bush when they don't.
    Any company can survive when it has an unlimited budget from the Gov or us as tax payers.
    Instead of the tax payers getting screwed they should have just let bankrupcty taken it's course and they could have re structured everything. The only people that would have gotten screwed were ther creditors not us. Bush and Obama should have left it alone.
    but gm cars' quality has improved exponentially in the last 10 years. have you seen the car and driver and motor train awards the last few years? gm trucks have always been solid. so he was right that the quality of gm and overall american cars has gotten better and is comparable to that of honda, nissan, and even in some cases bmw and mercedes benz.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • cajunkiwicajunkiwi Posts: 984
    unsung wrote:
    It is all of the above.

    Companies need to get away from pensions and move towards 401k's.

    Chicago is in a huge pension crunch for the police, the administrators gambled with the money on risky stocks. Now the pensions are underfunded, but they are guaranteed. So the taxpayers are on the hook, again.

    Another reason why Illinois sucks, Democrats have run this state into the ground.

    You should try Louisiana sometime. It's the ultimate in bipartisanship down here - Democrats and Republicans united to run the state into the ground together lol
    And I listen for the voice inside my head... nothing. I'll do this one myself.
  • KDH12KDH12 Posts: 2,096
    Godfather. wrote:
    KDH12 wrote:
    Godfather. wrote:

    this whole thiong is a eye opener for me.

    Godfather.


    watch out

    next you are going to realize that health care reform is not the end of life as we know it


    well everything I am hearing about obama-care ain't so good if it was we wouldn't be having debates over it
    so is it a good thing or not ? let me know.

    Godfather.


    well I am not sure what you are hearing but it is hard to say bad things when 2/3 of it has not kicked in yet
    **CUBS GO ALL THE WAY IN......never **
Sign In or Register to comment.