Gm still is Government Motors
- Thread starter brett636
- Start date
Lue C Fur
Evil member
All iof a sudden Ford is soo good, eh ? Fix or repair daily !
Even in German they have a Ford joke : Ford Fahren, Fort Schmeissen !
Showing your true colors again i see...bashing a American success story that survived without govt assistance. Like GM cars have always been great...your hittin that "Likor" really hard tonight.
Personally, (so it is personal then) I like GM products. I have a Grand Prix in my garage. Nothing wrong with GM products, in my opinion.
Sure...LMAO!!!! That is why there is no more Pontiac...LMAO!!!!! Nothing wrong there.
Lue C Fur
Evil member
This will be fun: Where is the Vega, Chuv-ette, AZZZZtec, oh and dont forget the Ponti-crap Lemans. LMAO!!!! Shall i keep going.....
klein
Für Meno :)
Turnaround intact: GM posts Q2 profit of $891mil
by John Neff (RSS feed) on Jul 31st 2007 at 12:08PM
http://www.autoblog.com/2007/07/31/turnaround-intact-gm-posts-q2-profit-of-891mil/
by John Neff (RSS feed) on Jul 31st 2007 at 12:08PM
http://www.autoblog.com/2007/07/31/turnaround-intact-gm-posts-q2-profit-of-891mil/
Lue C Fur
Evil member
WASHINGTON (AP) -- The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.
CEO Ed Whitacre has predicted a full-year profit as U.S. auto sales continue their slow recovery. That could lead to a public sale of GM's stock and full repayment of the $50 billion in U.S. government aid that stopped GM from going under last year. The U.S. government now owns 61 percent of the company.
The automaker has repaid a total of $6.7 million to the government from TARP funds. The Obama administration hopes to get back the remaining $43 billion by selling its stake.
For taxpayers to break even by selling the government's remaining investment, the total dollar value of GM's outstanding shares, or market capitalization, would have to reach about $70 billion after an IPO. That's nearly double the size of Ford Motor Co.'s current market cap.
klein
Für Meno :)
WASHINGTON (AP) -- The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.
CEO Ed Whitacre has predicted a full-year profit as U.S. auto sales continue their slow recovery. That could lead to a public sale of GM's stock and full repayment of the $50 billion in U.S. government aid that stopped GM from going under last year. The U.S. government now owns 61 percent of the company.
The automaker has repaid a total of $6.7 million to the government from TARP funds. The Obama administration hopes to get back the remaining $43 billion by selling its stake.
For taxpayers to break even by selling the government's remaining investment, the total dollar value of GM's outstanding shares, or market capitalization, would have to reach about $70 billion after an IPO. That's nearly double the size of Ford Motor Co.'s current market cap.
How you can turn positive news into negative news, doesn't surprise me.
Just last month, I posted GM would turn a profit soon. Ofcourse you didn't believe that, either did any other of your tea-party bc'lers on here.
You probably don't even know GM has the largest marketshare in China.
And is making huge profits there.
But, for all I care, I hope people like you keep resisting GM, so it can move out of the USA, just make the north american models in Canada and overseas.
Just like DHL moved out.
Then blame it on the president, while Americans didn't want those GM jobs, and boycotted the company.
(it's commen sense, if you don't sell a product in a country, you close that division).
Lue C Fur
Evil member
Not just the Messiah...the whole crappy govt...yes Obama is a idiot but so are most the politicians running this country.
klein
Für Meno :)
See, thats a thing you guys just don't understand. That Canada is much more conservative then the US is and probably will ever be.
Bank regulations in place : No one gets to borrow, unless they have an income and a good credit score, and a significant downpayment for a house (if it's a mortgage).
You can't just slip into the school system without being a Canadain Citizen or approved landed immigrant status. (just ask my scottish friend, what nightmare he had to finally enroll his kids to school) - they wouldn't accept his kids, not even on a tempory basis, until the kids were approved for immigration. (scotsman is duo citizen - cdn-scott), but his cdn passport wasn't good enough to enroll his own kids.
If our goverment falls into debt, it's very likely our taxes go up, or government cuts follow (or both).
We take care of the problem almost instantly. - The reason why we don't live in a higher standard then you. (good income , with low consumer prices and less taxes).
I suppose Canada could do the same, (spend today, and worry about it tomorrow, but even the Canadian Liberal Party won't do so. (by the way , we have the conservatives in power currently).
And what did all this conservatisum do for us ? :
- The worlds strongest currency
- Record breaking house prices and sales.
- Growing economy with mortgages and interest rates rising
- Low crime rate (City of Edmonton had it's 5th homicide of the year today) A city with over 1 Million in population. (and it was 2 drunks and one got stabbed).
- A prideness of being Canadian. We don't bash our governments like you do, and it doesn't seperate our people.
- welcomed everywhere on the planet with open arms (not so much in the US, but Europe.. it's a huge freebie for us).
So much more is different here, but you'll need to spend some time here first, before you can talk about "liberal" Canada. Your fox news is crap.
We can't even buy beer, wine, or any kind of booze at a supermarket. We need to shop at a likor or beer store.
DHL is a different story. They still exist worldwide, even to both of your borders, just not in the USA.
Face it, the overall costs are just to high in the US. They didn't look into that.
But, it was a smart move to get out of the US.
Take the big profits where you can, forget the losses or penny making buisnesses.
In the long term, DHL might just be the big winner !
Bank regulations in place : No one gets to borrow, unless they have an income and a good credit score, and a significant downpayment for a house (if it's a mortgage).
You can't just slip into the school system without being a Canadain Citizen or approved landed immigrant status. (just ask my scottish friend, what nightmare he had to finally enroll his kids to school) - they wouldn't accept his kids, not even on a tempory basis, until the kids were approved for immigration. (scotsman is duo citizen - cdn-scott), but his cdn passport wasn't good enough to enroll his own kids.
If our goverment falls into debt, it's very likely our taxes go up, or government cuts follow (or both).
We take care of the problem almost instantly. - The reason why we don't live in a higher standard then you. (good income , with low consumer prices and less taxes).
I suppose Canada could do the same, (spend today, and worry about it tomorrow, but even the Canadian Liberal Party won't do so. (by the way , we have the conservatives in power currently).
And what did all this conservatisum do for us ? :
- The worlds strongest currency
- Record breaking house prices and sales.
- Growing economy with mortgages and interest rates rising
- Low crime rate (City of Edmonton had it's 5th homicide of the year today) A city with over 1 Million in population. (and it was 2 drunks and one got stabbed).
- A prideness of being Canadian. We don't bash our governments like you do, and it doesn't seperate our people.
- welcomed everywhere on the planet with open arms (not so much in the US, but Europe.. it's a huge freebie for us).
So much more is different here, but you'll need to spend some time here first, before you can talk about "liberal" Canada. Your fox news is crap.
We can't even buy beer, wine, or any kind of booze at a supermarket. We need to shop at a likor or beer store.
DHL is a different story. They still exist worldwide, even to both of your borders, just not in the USA.
Face it, the overall costs are just to high in the US. They didn't look into that.
But, it was a smart move to get out of the US.
Take the big profits where you can, forget the losses or penny making buisnesses.
In the long term, DHL might just be the big winner !
Lue C Fur
Evil member
klein
Für Meno :)
I hope your new leader Sarah Palin, (the one that costed the republican party it's re-election loss), will do good for you.
Babagounj
Strength through joy
klien, dhl spent $5B trying to become the number 1 shipper in the USA.
They over spent and had to cut their losses.
Ford Motor Co. never took gov't $$$, they reorganized prior to this current meltdown and today are better.
Unfortunately, my next truck will not be built in the USA nor Canada since none offer what I need. It will be from India, a world truck.
They over spent and had to cut their losses.
Ford Motor Co. never took gov't $$$, they reorganized prior to this current meltdown and today are better.
Unfortunately, my next truck will not be built in the USA nor Canada since none offer what I need. It will be from India, a world truck.
klein
Für Meno :)
If you think that way baba, let all the famers go bk, next time they have a draught or a bad crop. Farms get subsidized every year in a certain regions.
Right, who cares ? Let them go under.
It's all in the bigger picture, you just can't let that trade deficit expand more and more.
You simply can't buy more goods then you export. It will break you !
Right, who cares ? Let them go under.
It's all in the bigger picture, you just can't let that trade deficit expand more and more.
You simply can't buy more goods then you export. It will break you !
brett636
Well-Known Member
A day late and a dollar short. GM took over a year longer than their privately owned competition to turn a profit. Considering how badly their pensions are underfunded this will not be the last time GM will need a government bailout. In the long run it would have been cheaper to let them fail.
Lue C Fur
Evil member
klein
Für Meno :)
So, letting them fail would have helped the pension fund ? Those retirees won't be the excemption to get thier pensions cut. Just look at UPS.
The over generosity of american companies and the government in the past is comming to an end. You know the old saying : Payback is a b.i.t.c.h.
Something the younger and most of the current generation will need to go thru.
Example Greece... was nice to retire at age 55.
diesel96
Well-Known Member
What does all this mean beside Brett, Baba and Lucy inheriting indigestion? It means the bankruptcy did what was intended. It shrunk GM to a manageable size and made it an automaker more likely to survive in a market crowded with keen Asian, European and domestic competitors. GM needed to shed brands, models, dealerships, white- and blue-collar employees, production capacity and debt to be viable and help save U.S.-based manufacturing. GM expects to remain profitable, although it's too early to predict an overall profit for 2010. If GM can pull that off, an IPO that "buys out" a portion of the government's "investment" (large enough to reduce our ownership to a minority position,) should happen by early next year.....
Babagounj
Strength through joy
nice example...Greece
read the thread about what they had to jettison, actually a demand from the richer nations who were forced to bail them out.
brett636
Well-Known Member
Your biggest shortfall is your only capable of thinking short-term. GM will need another bailout in the future. It may be 10+ years from now, but its going to happen just like how Chrysler received its 2nd bailout. Their pension funds are way underfunded, and now they have little incentive to produce higher quality cars because they know uncle sam has their back. When you remove the fear of failure from a private company that company has no reason to try as hard as its competitors to compete. Sort of like giving a drunk a drink, it does little to help them in the long run.
