Top GM execs sell off their stock; bankruptcy looming
05-13-2009, 10:42 AM
#1
Staging Lane
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Top GM execs sell off their stock; bankruptcy looming http://money.cnn.com/2009/05/12/news...ll_stock.reut/
Lutz sold off ~80,000 of his own shares.
I love GM but why are tax payer dollars going to bail out a company that's going to go bankrupt no matter what? Meh.
Lutz sold off ~80,000 of his own shares.
I love GM but why are tax payer dollars going to bail out a company that's going to go bankrupt no matter what? Meh.
05-13-2009, 11:25 AM
#3
Bankruptcy is the best thing for GM . Give them an oppurtunity to restructure and get out from underneath all that bad det thats been killing them for years. Hopefully their quality will skyrocket now after so many years of crap
05-13-2009, 12:10 PM
#4
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^^^ I'm sorry but I have to disagree with that thought. Especially not at the expense of taxpayers as Chrysler is not required to pay back our money. And it seems GM won't be held to their loan contract either.
05-13-2009, 12:39 PM
#6
Unions are the reason why GM pays to have medical for there workers...
It should be provided for us by the government not a fucken company
Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them
It should be provided for us by the government not a fucken company
Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them
05-13-2009, 02:24 PM
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I read on Jalopnic yesterday that one of them sold stock that a couple of years ago would have bill 10 million, and when they sold it was something like 450,000.
OUCH
OUCH
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Then when they bounce back and their stocks skyrocket i'm rich 
05-14-2009, 08:57 PM
#11
Unions are the reason why GM pays to have medical for there workers...The lugnut putter onner dude makes $70+ an hour after bennies???!!???
It should be provided for us by the government not a fucken company
Aren't you paying enough in taxes yet, buddy????
Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them
It should be provided for us by the government not a fucken company
Aren't you paying enough in taxes yet, buddy????
Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them
Aw Jeez... Nobody at the Toyota, Honda or Hyundai plants have Medical?
Everybody gets a pie... I'd rather slice mine up for myself (non-union) than have somebody (union... Gov't...) doing it for me...
Look at the banks... Now that the gov. is in their pockets they call the shots.... And banks can't return the funds!
GM= Gov't. Motors...
05-15-2009, 02:38 PM
#13
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The bankruptcy is only being filed to bring holdout debt holders in line.
Worse yet... the bankruptcy won't change much in regards to taxpayers.... the US Treasury is loaning Chrysler/GM more $$$$$$$$$$$$$ during the bankruptcy and post bankruptcy.
Lastly, IF the bankruptcy plan works.... if the debt holders accept.... the UAW is going to wind up owning major shares of GM/ Chrysler.
Frankly.... I can't envision WHY debt holders would be willing to accept a disproportional shares for their debt vs the UAW.
05-15-2009, 08:38 PM
#15
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How long is it going to take for some of you to figure out that the money the government used to bail out the banks, the auto industry etc isn't really tax payer money....but money borrowed from other countries...ie China.
To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.
To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.
05-15-2009, 08:40 PM
#16
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Well I disagree bout the union part but agree with ya totally on us funding our own health care as a country rather then laying the burden on companies. Thats a huge reason why they cant compete with the other automakers
05-15-2009, 11:13 PM
#18
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How long is it going to take for some of you to figure out that the money the government used to bail out the banks, the auto industry etc isn't really tax payer money....but money borrowed from other countries...ie China.
To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.
To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.
Eventually... we will HAVE to start making changes that will allow for the reduction/repayment of that debit.... or either everyone's taxes are going to go UP!!!!!!!!!!!!!!!!!!!!!!!Of course our current debt problems are NOTHING in comparison to the $53 Trillion of unfunded entitlement programs.
These unfunded programs will HAVE to be reduced and some simply eliminated. Last edited by wabmorgan; 05-15-2009 at 11:49 PM.
05-16-2009, 10:04 AM
#19
How long is it going to take for some of you to figure out that the money the government used to bail out the banks, the auto industry etc isn't really tax payer money....but money borrowed from other countries...ie China.
To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.
To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.
NOW YOU KNOW WHY WE LET CHINA IMPORT ALL THAT **** HERE.....
So they will CONTINUE to buy our debt.....