GM wants to re-enter auto financing

Discussion in 'Wall St. News' started by schizo, May 11, 2010.

  1. schizo


    Seriously, why don't these morons stick to what they know, which they're not all that good to begin with? They make bad cars, and they think they provide value to their customers. Now they believe financing bad cars would reverse their ill-fortune? Now, c'mon, they've already gone bankrupt once (not to mention the taxpayer money that they poured down the drain). Aren't they little thick skinned? Shame, shame.
  2. S2007S


    Just another hilarious moment in GM history.

    They were starving for cash in 2006 when the economy was in its greatest bubble in history, they think they can just start fresh now that the taxpayers have bailed them out, I guess when there is no risk involved anything goes. This economy thrives on failure!!!!

    GM sold a 51 percent stake in GMAC Financial Services in 2006 when it was starved for cash. The new owners, led by private equity firm Cerberus Capital Management LP, ran into trouble in 2008 with bad mortgage loans and had to be bailed out by the federal government, which now owns 56 percent of the company.

    Earlier this month, GMAC changed its name to Ally Financial.
  3. FAIL.
  4. ashatet


    Its part of their business model. Unless GM finances, they are not selling those cars.

  5. MattF


    need fresh victims errrrr customers...
  6. And you should stick to what you know, which clearly isn't a whole lot. First off, GM has already paid back its loans in full, with interest, 5 years ahead of schedule. Secondly, have you driven a Chevy lately? I sell them, but I also can sell Chyrsler, Jeep, Dodge, Honda and Nissan. Sometimes I wonder why I haven't been able to sell as many of the other brands to my customers, even though I have showed them many times. Then of course I realize the obvious answer, the Chevy's are so much better. I'll compare vehicles side by side and have them drive both. The Chevy always wins. I have lost sales to other brands for various reasons, but not one person that I can remember has ever told me that they didn't like the car.

    If GM really wants to start making some money, they’ll just start making some damn cars. I almost think it’s a conspiracy of sorts. They have a few new cars out that dealers just can’t get enough of and that GM has put almost no incentives on (they’re making full money on them) and yet they won’t make enough. I understand there is logistical things, but they have been in production for almost a year or more and still, nobody can get enough of them and I sell at a top 25 dealer in the country. It will be interesting to see how they handle the new models like the Volt and Cruze. Hopefully they will ramp up production to capacity. They will certainly sell them all.
  7. Stok


    The biggest scam is GM with their new commercial saying they have paid off the loan "IN FULL"! LOL! They borrowed from the guberment to pay the guberment only $4.8B of the $50B loan (they borrowed from the the Treasury to pay the Treasury). The remaining 90% of the loan is "Supposed" to be paid with the new IPO. Like C? SCAM!

    GM highlights why the scam's continue. One of the worst US companies in the world. Shit cars, outta of control wages/union's and the pension plan I cannot even fathom. It is like our SS and Medicare/Medicare scam.

    Of course, obama fired the old CEO for the new one. Who woulda thunk the guberment would EVER dictate private industry. Called Z A R S.

    Wait for the coming lawsuits when obama told the bond holders with Chrysler to take a hike. Broke all laws and constitutional laws, he told the bond holders to take a hike....there will be repercussions.

    Every American should buy a Ford. No bailout' entitlement crap that is outta of control!

    One of my pledge bro's ran car's at the GM plant back in 1992 in OKC. He made $50/hour to run car's to the racks. It was insane. Got the job b/c his Dad was an "accountant" for GM (the union's). I was waiting tables for maybe $5/hour, selling Cutco knifes during summer. He would work for 4 hours a day and was big pimping. Of course, his Grand Pre was such a big POS, I knew GM was toast one of these days.

    It's the union's who will destroy this Country. Demand massive pay and entitlement's and HC. THEN, they want to TAX all stock trades and make others pay.

    Hope this resonates with the readers.

    Greece = More EU (who read UK raising cap gains tax to 40% from 18%, I know many leaving UK cuz they are toast) = California = USA.

    Our Founding Fathers are pretty pissed.

    So am I.

  8. empee


    Are you fucking retarded? GM did NOT pay back its "loans in full"; it borrowed the money to pay back the "loans in full" from another part of the government. In addition, the amount lent that was converted in GM shares (the vast majority) resulting in the US owning a significant stake in GM. (money which has NOT been paid back, the vast majority).

    Stop spewing your fucked up company tag line like what you did above. Its an outright lie, and I believe some gov't agency is after their CEO Ed Whitacre (formerly of SBC/AT&T fame) because its an outright lie.

    Sigh, its like dealing with a realtor. Lemme guess, its never been a better time to buy a GM, right? Its bankrupt thinking like this that is bankrupting this country.

    I know your a shill and your income depends on you not understanding/acknowledging what I said, but at least don't spew your lies here.

  9. Stok


    WOW. U sell cars and are an IDIOT.

    Riddle me this....go look up the loan you fool. GM has NEVER paid back ANY money from the guberment, which ='s taxpayer's $. They borrowed $4.8B from the T to pay the T. They owe $50B.

    AND, the unfunded liabilities is way more than that.

    I guess a car salesman on ET tells me what we have here.

    Many frauds. You quote a commercial....which is all car loser salesman seem to hang onto.

    GM is a total disaster. Go read a balance sheet...if you can.