Who wants to buy some government GM shares????

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  1. #1
    Tundra's Avatar
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    Who wants to buy some government GM shares????

    Going on sale in the coming months.
    http://www.chicagotribune.com/busine...,5307001.story

    The government is going to take a bath on these shares and lose big.

    The deal almost certainly means that the government will lose billions on a $49.5 billion bailout that saved GM from being auctioned off in pieces during the financial crisis in 2008 and 2009. GM's buyback will cut the Treasury's stake to 19 percent from 26.5 percent. For it to break even, Treasury would have to sell the remaining 300 million shares for average of about $70.

  2. #2
    KCRuf/Nek's Avatar
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    I thought GM was all paid back and turning a profit. Guess the election is over, huh?
    3 users like KCRuf/Nek's post: andymancan20, jdmt37, OU Sam


  3. #3
    playmakr's Avatar
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    The fraud that was the selling of the success of the GM bailout is the biggest political scam of all time. America is full of idiots to buy this. This was a horrible deal.
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  4. #4
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    Originally Posted by playmakr View Post
    The fraud that was the selling of the success of the GM bailout is the biggest political scam of all time. America is full of idiots to buy this. This was a horrible deal.
    Lots of union jobs saved though....and future tax exemptees under obamacare. Merry Christmas!!!

  5. #5
    Sancho's Avatar
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    Originally Posted by okie52 View Post
    Lots of union jobs saved though....and future tax exemptees under obamacare. Merry Christmas!!!
    In the end that was all it was about. Obama didnt give a shit about GM, he only wanted to pay back his union goons...with your money.

  6. #6
    KCRuf/Nek's Avatar
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    Originally Posted by Sancho View Post
    In the end that was all it was about. Obama didnt give a shit about GM, he only wanted to pay back his union goons...with your money.
    No sense worrying about people like the actual shareholders that lost their shirts, dealerships that closed, and people down the supply line that lost their jobs. Thank God the pension funds were saved.

  7. #7
    I wonder what the discussion would be if government GM shares were a minority.

    [/OOO]
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  8. #8
    traxx's Avatar
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    I don't understand GM's problems. It's like their mindset is in the 60s and they think "We're GM so we don't have to try." Chrysler is and has always been a mess. Ford looks like the only one of the former Big 3 that's actually trying to be competitive in today's automotive world.

  9. #9
    KCRuf/Nek's Avatar
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    Originally Posted by traxx View Post
    I don't understand GM's problems. It's like their mindset is in the 60s and they think "We're GM so we don't have to try." Chrysler is and has always been a mess. Ford looks like the only one of the former Big 3 that's actually trying to be competitive in today's automotive world.
    I remember car shopping in the early 80's. My 1981 Camaro was a piece of shit. Chrysler was making cars where the dome light and cig lighter were options. WTF. That's when I said **** it and bought a BMW.

  10. #10
    pphilfran's Avatar
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    Originally Posted by traxx View Post
    I don't understand GM's problems. It's like their mindset is in the 60s and they think "We're GM so we don't have to try." Chrysler is and has always been a mess. Ford looks like the only one of the former Big 3 that's actually trying to be competitive in today's automotive world.
    They tended to make bland or butt ugly cars...they seem to be average, at best, in small and mid size drive trains...their V8 is more than capable but is a dying breed...

    Ford could see disaster brewing and did everything possible to overhaul itself...in 2006 they mortgages the entire ****ing company for 18 billion or so...cash up front and lines of credit...if I remember right the 18 bill was more than the value of outstanding stock...talk about piling on debt...

    They also had better relationships with the union...

    Ford did a hell of a job....they were having a hard time keeping their head above water in 2006..they hired Mulally as there CEO....took on a ton of debt to get a huge pile of money...started the revamping...closed plants...total product redesign...sold off Jag and Land Rover in early 2008 for a couple of billion...

    And then bad shit hit...the recession in late 2008...lol

    But they did have cash and a big credit line...and they also got 5 or 6 billion in low cost fed loans to help ...hell, even Nissan got a couple billion...this money was to be used specifically into new fuel efficient vehicles...

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