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Old 12-10-2013, 05:36 AM   #1
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No more Government Motors

It looks like the Fed sold the rest of GM shares for a 10 Billion loss.

Treasury "Out" Of GM For $10.5 Billion Loss (Claims 768% ROI) | Zero Hedge
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Old 12-10-2013, 05:52 AM   #2
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That hurt the tax payers pockets. I almost feel like GM should have to give each tax payer a free car.
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Old 12-10-2013, 06:08 AM   #3
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That hurt the tax payers pockets. I almost feel like GM should have to give each tax payer a free car.
I would not have taken it. I have never had a GM car I liked enough to buy it. When I was younger I had three different Chevy's all three of them rusted thru and left me on the side of the road more then get me down it. Nope never again I will buy a Dodge or a Rice Burner long before a GM. Now people will say the Vette is a good car I will not disagree just don't park it in my drive.
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Old 12-10-2013, 03:16 PM   #4
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That's double speak. How can you loose money while at the same time claiming a positive ROI? No wonder we're in such trouble here, the treasury can't even do basic arithmetic!
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Old 12-10-2013, 04:13 PM   #5
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That's double speak. How can you loose money while at the same time claiming a positive ROI? No wonder we're in such trouble here, the treasury can't even do basic arithmetic!
What ever do you mean a 768% ROI is a pretty good return and they only lost 10 billion
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Old 12-10-2013, 04:16 PM   #6
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Old 12-10-2013, 04:17 PM   #7
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What ever do you mean a 768% ROI is a pretty good return and they only lost 10 billion
Tongue in cheek response I hope
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Old 12-11-2013, 04:33 AM   #8
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Tongue in cheek response I hope

Either tongue in cheek or foot in mouth
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Old 12-11-2013, 05:35 AM   #9
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That's double speak. How can you loose money while at the same time claiming a positive ROI? No wonder we're in such trouble here, the treasury can't even do basic arithmetic!
And you can't understand what they really did. If the bailout hadn't happened, we would have seen somewhere between 100-200 billion in losses. Guaranteed. So the overall loss of 10.5 billion isn't that bad. Where do you think the losses get paid out from once the company is dried up and gone? That's right... The society under the company. The gm bailout was one of the best moves made during the recession. It does require looking at the bugger picture though... The loss of all those jobs would have hurt the economy so much more than the bailout appropriation of funds...
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Old 12-11-2013, 07:55 AM   #10
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And you can't understand what they really did. If the bailout hadn't happened, we would have seen somewhere between 100-200 billion in losses. Guaranteed. So the overall loss of 10.5 billion isn't that bad. Where do you think the losses get paid out from once the company is dried up and gone? That's right... The society under the company. The gm bailout was one of the best moves made during the recession. It does require looking at the bugger picture though... The loss of all those jobs would have hurt the economy so much more than the bailout appropriation of funds...
That's simply a worst case prediction. Not a "guarantee". Then again the government loves a crisis they can "rescue" us from.
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Old 12-11-2013, 03:58 PM   #11
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That's simply a worst case prediction. Not a "guarantee". Then again the government loves a crisis they can "rescue" us from.
No it was an absolute guarantee. There was nothing stopping the company in to forced liquidation. Trust me, as a trained economist, this was completely the right call for everyone. The auto industry is way too big and it stretches so far though the employment Web. The shock to social services could have sunk the US economy overnight.
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Old 12-11-2013, 04:55 PM   #12
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That's simply a worst case prediction. Not a "guarantee". Then again the government loves a crisis they can "rescue" us from.
What other crisis has the government saved us from recently?
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Old 12-11-2013, 05:02 PM   #13
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What other crisis has the government saved us from recently?
My point is made, resting case now.
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Old 12-11-2013, 05:11 PM   #14
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My point is made, resting case now.
Ok. That makes sense
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Old 12-11-2013, 05:14 PM   #15
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Either tongue in cheek or foot in mouth
Like Joe Biden?
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Old 12-11-2013, 05:21 PM   #16
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I like the GM should give a free car... I'll take either of these, a 14 Z28 when they are available, or a stingray Z51
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Old 12-11-2013, 05:58 PM   #17
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I like the GM should give a free car... I'll take either of these, a 14 Z28 when they are available, or a stingray Z51
This is what you'll most likely get

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Old 12-11-2013, 06:03 PM   #18
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This is what you'll most likely get
NO!
I'd take the ecoboost engine issues before I get one of those.
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Old 12-12-2013, 11:10 AM   #19
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This is what you'll most likely get
I'd rock it for a DD lol
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Old 12-12-2013, 11:18 AM   #20
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I'd rock it for a DD lol
+1
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Old 12-12-2013, 11:34 AM   #21
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No it was an absolute guarantee. There was nothing stopping the company in to forced liquidation. Trust me, as a trained economist, this was completely the right call for everyone. The auto industry is way too big and it stretches so far though the employment Web. The shock to social services could have sunk the US economy overnight.
My economics professor thought otherwise. He has a Ph.D. In Economics and apparently went to Russia when they were coming out of the Soviet Union to help them restructure their economy. He seems qualified to me lol
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Old 12-12-2013, 11:34 AM   #22
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I like the GM should give a free car... I'll take either of these, a 14 Z28 when they are available, or a stingray Z51
I saw a Z28 yesterday, I honestly loved it!
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Old 12-12-2013, 11:43 AM   #23
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My economics professor thought otherwise. He has a Ph.D. In Economics and apparently went to Russia when they were coming out of the Soviet Union to help them restructure their economy. He seems qualified to me lol
There was plenty of diverse opinions on these bailouts, from very knowledgeable folks as indicated above. The one line of Coolaid that served the government's purpose, was to panic everyone into believing GM would go out of business without a bailout, so that we would need them. It's all political BS, just like "if you like your health insurance you can keep it".

Don't believe everything you hear or read - especially from the government!
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Old 12-12-2013, 12:43 PM   #24
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Don't believe everything you hear or read - especially from the government!
Period. Paragraph.
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Old 12-12-2013, 03:38 PM   #25
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I saw a Z28 yesterday, I honestly loved it!
what year? The 14's aren't out yet.
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Old 12-12-2013, 03:46 PM   #26
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what year? The 14's aren't out yet.
Ya they don't come out till spring 2014
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Old 12-12-2013, 03:47 PM   #27
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Ya they don't come out till spring 2014
That's what I saw on Chevys site.

Also, when is the 2015 mustang coming out? Ford says fall 2014, but a lot of people are starting to say around April.
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Old 12-12-2013, 04:10 PM   #28
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Well, I must say Its good to know the American People get to pay for a company to run their business in the ground, give crappy quality products, poor designs, overpaid employees, overpaid high management and lets not forget the way way way high salary of the V.P. GM's demise were their own fault and could of been prevented by being a leader. They produced ***** cars for decades, paid high salaries and benefits to employees and for years their sales grew smaller and smaller.

I will never buy a GM product because there a bunch of losers who can't run a business proper and then want to stick the consumer with lousy , garbage , products.
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Old 12-12-2013, 04:36 PM   #29
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The .gov has NO, NONE, ZERO legal ability or responsibility to bail out anything.
This company was brought to bankruptcy largely by bad decisions, government regulations, and mismanagement. Just because that has an impact on the economy, the .gov bailed them out? How about my small business? Is the .gov going to bail me out if I make stupid decisions?
Not bloody likely!!! Why should GM or banks get special treatment? Oh because they have more employees than I do? That is some straight up bull**** right there.

As a business owner, I am still pissed about .gov interference and preferential treatment in this situation.

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Old 12-12-2013, 04:37 PM   #30
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It looks like the Fed sold the rest of GM shares for a 10 Billion loss.

Treasury "Out" Of GM For $10.5 Billion Loss (Claims 768% ROI) | Zero Hedge
Sell to China?
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Old 12-12-2013, 04:54 PM   #31
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The .gov has NO, NONE, ZERO legal ability or responsibility to bail out anything.
This company was brought to bankruptcy largely by bad decisions, government regulations, and mismanagement. Just because that has an impact on the economy, the .gov bailed them out? How about my small business? Is the .gov going to bail me out if I make stupid decisions?
Not bloody likely!!! Why should GM or banks get special treatment? Oh because they have more employees than I do? That is some straight up bull**** right there.

As a business owner, I am still pissed about .gov interference and preferential treatment in this situation.

-Static
Amen brother. The bankruptcy was the sole fault of GM's failed leadership to produce quality , vehicles and overspending salaries. Now, don't get me wrong, GM can pay their employees all the money they want but don't expect me the tax payer to pay to keep GM afloat because of piss poor decisions.

I'll never forget my GM experience back in 2009. It was just after GM had taken the 800 Billion or so of tax payers money and the 2010 Camaro had made its debut. Very curious , my wife and I went to a Chevy dealership too look at the new Camaro. I had noticed the MSRP on this Camaro was 28k and some change. The dealership was actually selling this car for 3 thousand over MSRP.

I thought my eyes were in disbelief and asked about this 3k listed over MSRP. The salesman said the car was really hot and new.

So let me get this straight, I say to the salesman. GM just filed for bankruptcy months ago, GM just took billions of my taxpayers money to rebuild the company and regain the confidence in the company. You Chevy dealership who are a direct representative of GM and sells GM cars is trying to hit me the consumer in the rear dry after filing for bankruptcy.

Wow, I walked out and never again. Now please spare me the its the dealership that did that overprice and not GM. I say hogwash crap. GM knew this was going on and its there cars and company. They should of told dealerships this type of dirty sales will not be tolerated, period. Its GM product your selling and we need the customers to believe in us.
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Old 12-12-2013, 07:52 PM   #32
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No, never, I will NEVER buy a GM product EVER. I might buy a Dodge... actually no I won't. Ford is the only domestic I will ever buy. Hell, I'll buy Hyundai where a lot of their stuff is built in the USA before I buy a bailout GM/Chrysler.

edit: I might buy a pre-bailout WS6 at some point but that is the only exception.
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