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+--- Thread: GM reports 62% annual profit increase (/showthread.php?tid=132096)
Re: GM reports 62% annual profit increase - mick e - 02-16-2012
Why are the uninformed so eager to offer their opinions?
Re: GM reports 62% annual profit increase - $tevie - 02-16-2012
mick e wrote:
Why are the uninformed so eager to offer their opinions?
It's simple:
Obama BAD
Unions BAD
Obama saving union jobs BAD
Screw GM, if it hadn't been for those meddling Feds the UAW would have lots more unemployed members which is GOOD! Yeah baby!
Re: Sorry Mitt. GM reports 62% annual profit increase - Trouble - 02-16-2012
Will Collier wrote:
My profits would be way up, too, if the government paid off all my debts, gave me a huge chunk of cash, and leaned on people who'd loaned me money.
Truth
Re: GM reports 62% annual profit increase - Trouble - 02-16-2012
$tevie wrote:
[quote=mick e]
Why are the uninformed so eager to offer their opinions?
It's simple:
Obama BAD
Unions BAD
Obama saving union jobs BAD
Screw GM, if it hadn't been for those meddling Feds the UAW would have lots more unemployed members which is GOOD! Yeah baby!
Still repeating that liberal rote? Obama did what he did to save the UAW, not GM. The smart thing would have been to restructure the company. Which, by the way, is what every other company does unless Obama needs their voting block and can toss them other people's money.
Re: GM reports 62% annual profit increase - August West - 02-16-2012
Which, by the way, is what every other company does unless Obama needs their voting block and can toss them other people's money.
Was that President Bush's plan when he initiated the bailout of the auto industry during his presidency?
Re: GM reports 62% annual profit increase - Grace62 - 02-16-2012
"In December 2008, U.S. President George W. Bush agreed to a $17.4 billion bailout for General Motors and Chrysler. The financing came from the $700 billion fund known as the TARP.[4] General Motors emerged from a Chapter 11 reorganization in 2009, with an initial public offering that was one of the world`s top 5 largest IPOs to date."
From what I understand there was no private money available to bail out GM in 2009. That's why the federal government stepped in, as a lender of last resort. Is that the correct understanding?
If anyone knows of a company that was willing to lend $17.4 billion to GM and Chrysler in '09, let us know who that was.
Re: GM reports 62% annual profit increase - Ted King - 02-17-2012
http://www.economist.com/node/16846494
This is from Aug 19th 2010:
So was the auto bail-out a success? It is hard to be sure. Had the government not stepped in, GM might have restructured under normal bankruptcy procedures, without putting public money at risk. Many observers think this unlikely, however. Given the panic that gripped private purse-strings last year, it is more likely that GM would have been liquidated, sending a cascade of destruction through the supply chain on which its rivals, too, depended.
Re: GM reports 62% annual profit increase - Trouble - 02-17-2012
Ted King wrote:
http://www.economist.com/node/16846494
This is from Aug 19th 2010:
So was the auto bail-out a success? It is hard to be sure. Had the government not stepped in, GM might have restructured under normal bankruptcy procedures, without putting public money at risk. Many observers think this unlikely, however. Given the panic that gripped private purse-strings last year, it is more likely that GM would have been liquidated, sending a cascade of destruction through the supply chain on which its rivals, too, depended.
Never would have happened. GM is too big and selling more than enough around the world to carry the company. The problem is the UAW severely weakens them. Sure, GM can carry the union burden when the economy is rolling. Slow down the economy and the UAW cripples them.
Re: GM reports 62% annual profit increase - Acer - 02-17-2012
UAW Summary of GM Concessions
Re: GM reports 62% annual profit increase - Lux Interior - 02-17-2012
August West wrote:
Was that President Bush's plan when he initiated the bailout of the auto industry during his presidency?
Still repeating that liberal rote?
It is well-known (not by liberals, of course) that Obama used his time machine to go back and initiate the GM bailout.
It is clear that labor is the problem. President Bush would have take the heroic measure of forcing the UAW employees to take minimum wage with no benefits. Republican presidents will do what needs to be done! They would not coddle these lazy union thugs!