GM Wants Obama To Get Out Of GM

Discussion in 'Politics & Religion' started by pspr, Sep 17, 2012.

  1. pspr

    pspr

    I agree. Take the loss. Get the hell out of private business.

    The Treasury Department is resisting General Motors' push for the government to sell off its stake in the auto maker, The Wall Street Journal reports. Following a $50 billion bailout in 2009, the U.S. taxpayers now own almost 27% of the company. But the newspaper said GM executives are now chafing at that, saying it hurts the company's reputation and its ability to attract top talent due to pay restrictions. Earlier this year, GM GM-1.49% presented a plan to repurchase 200 million of the 500 million shares the U.S. holds with the balance being sold via a public offering. But officials at the Treasury Department were not interested as selling now would lead to a multibillion dollar loss for the government, the newspaper noted.

    http://www.marketwatch.com/story/general-motors-pushing-us-to-sell-stake-report-2012-09-17
     
  2. pupu

    pupu

    Only reason gm wants the government out is so they can get rid of those pesky regulations the keep executive pay at check

    I hear Volt is Doing great! They'll probably run themselves into the ground within a decade
     
  3. pspr

    pspr

    That is what the article says. They can't hire any talent with the government restrictions.
     
  4. pspr

    pspr

    This site shows the loss at the current GM price on our Government Motors investment that was made by Obama.

    http://www.bailoutcost.com/
     
  5. Even though the government has no business being involved in GM, a part of me wants Obama to keep holding the shares and meddling in their business, just so that all the commies can get a little taste of exactly what they are rooting for.
     
  6. Communism in action.......
     
  7. LEAPup

    LEAPup

    Yep, our communist in chief is getting his way. Tee totally blows my mind we're still allowing this shit.
     

  8. Like the top talent they had before they went broke? You want Rick Faggoner back at the helm? So you side with GM management that the taxpayer should take a loss so that management can line its pocket?

    Had Obama not bailed them out and forced a restructuring GM would not exist today. Those guys should be at the White House licking Barry's cock thanking him for saving thier asses. And dont tell me about the bondholders. They were negligent 10 years before any of this exploded.
     
  9. This is a little tough. I do think the U.S. is better off with having GM in business. I think that there are two choices, much like trading, you either take a loss on the stock price, or hold on and watch the price go back up. I think if got rid of the GM stigma of Gov Motors, the price could move back up.

    Whatever the losses are, somewhere between $10-$20 billion that I can find with a cursory check, are more than offset with all the people working and paying taxes. Then add the support companies, and their employees both paying taxes for long into the future. And having GM back to then number one spot worldwide is good for America.
     
  10. I highly doubt it offsets a $20 billion loss. Like obama, you assume without the bailout, all those jobs and factories would have just disappeared. It's highly likely they would have been taken over by someone who could have run them profitabley, albeit without the crippling union contracts.
     
    #10     Sep 17, 2012