GM "Repays" Gov Loan 5 Years Ahead of Schedule
04-22-2010, 06:37 PM
#22
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Here's another headline for you guys.
GM Accused of $$ 'Shuffle'
GM Accused of $$ 'Shuffle'
Senator Grassley changes his mind twice every 15 minutes. This is the guy who was all about universal health care until Barack Obama came along and started pushing for it...now Grassley is one of the biggest opponents to a health care bill of any form. Tomorrow he'll be on NPR retracting his statements once again.
I know we've always got to have someone in here trying to **** on our cookies...but the bottom line is that this is excellent news, and proof that GM is finally on the right track and gaining momentum.
04-22-2010, 06:47 PM
#24
You just quoted Fox News.
Senator Grassley changes his mind twice every 15 minutes. This is the guy who was all about universal health care until Barack Obama came along and started pushing for it...now Grassley is one of the biggest opponents to a health care bill of any form. Tomorrow he'll be on NPR retracting his statements once again.
I know we've always got to have someone in here trying to **** on our cookies...but the bottom line is that this is excellent news, and proof that GM is finally on the right track and gaining momentum.
Senator Grassley changes his mind twice every 15 minutes. This is the guy who was all about universal health care until Barack Obama came along and started pushing for it...now Grassley is one of the biggest opponents to a health care bill of any form. Tomorrow he'll be on NPR retracting his statements once again.
I know we've always got to have someone in here trying to **** on our cookies...but the bottom line is that this is excellent news, and proof that GM is finally on the right track and gaining momentum.
Do you think GM is making a profit?
Sorry to burst your bubble with reality but no way is GM in the black.
Even in good times they didn't make a profit.
04-22-2010, 08:22 PM
#25
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If Chrysler turned a profit, GM is all but certain to have posted a profit this year. I mean the Viper, 300, Ram and Charger IS their product portfolio at the moment.
https://ls1tech.com/forums/automotiv...ns-profit.html
Edit: Oh and this is very significant for one reason only, regardless of how they payed it off. Not being tied to the government means they can look at going public again. Stock time.
https://ls1tech.com/forums/automotiv...ns-profit.html
Edit: Oh and this is very significant for one reason only, regardless of how they payed it off. Not being tied to the government means they can look at going public again. Stock time.
Last edited by kain01; 04-22-2010 at 08:32 PM.
04-22-2010, 08:47 PM
#26
Chrysler Posts $197M in First Quarter Losses
Yeah, GM would call it a windfall profit.
Aren't they owned by the Italians?
I guess the 60% share the tax payer is holding doesn't count as being "tied to the government".
General Motors loses $3.4 billion
This could be called a Ponzi scheme but that would slander Ponzi's good name.
Yeah, GM would call it a windfall profit.
Aren't they owned by the Italians?
I guess the 60% share the tax payer is holding doesn't count as being "tied to the government".
General Motors loses $3.4 billion
This could be called a Ponzi scheme but that would slander Ponzi's good name.
04-22-2010, 10:25 PM
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If Chrysler turned a profit, GM is all but certain to have posted a profit this year. I mean the Viper, 300, Ram and Charger IS their product portfolio at the moment.
https://ls1tech.com/forums/automotiv...ns-profit.html
Edit: Oh and this is very significant for one reason only, regardless of how they payed it off. Not being tied to the government means they can look at going public again. Stock time.
https://ls1tech.com/forums/automotiv...ns-profit.html
Edit: Oh and this is very significant for one reason only, regardless of how they payed it off. Not being tied to the government means they can look at going public again. Stock time.
*edit* mike beat me to it
04-22-2010, 10:59 PM
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04-23-2010, 01:44 AM
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I don't know if it's exactly BS, it seems to be a little deceiving but bottom line is, GM was given TARP money to get itself back in shape and into profitability, if they didn't need to use all that money than they can give it back right? All they did was give back money that they didn't need. And instead of giving it back to one pot, they paid it off to another pot.
If I take a $100K loan to fix my house and only use half of it, I'm gonna give the other half back so it doesn't accrue interest while it sits there and I do nothing with it. That's the way I see this at least.
If I take a $100K loan to fix my house and only use half of it, I'm gonna give the other half back so it doesn't accrue interest while it sits there and I do nothing with it. That's the way I see this at least.
04-23-2010, 10:27 AM
#35
How do you "pay off" someone by borrowing more money from them?
When this story broke I asked myself:
"Where in the f*ck did GM get the money?"
Neil Cavuto:
Treasury Special Inspector General of TARP
Neil Barofsky:
Are you so in love with your car you will soak up any propaganda that puts GM in a good light?
When this story broke I asked myself:
"Where in the f*ck did GM get the money?"
Neil Cavuto:
Today's announcement by general motors that it's paid back its tarp loan in full, in full, is a huge accomplishment. Is it?
Neil Barofsky:
Well, it's good news they're paying back the loan.
The one thing a lot of people overlook with this is where they got the money to pay the loan.
It isn't from earnings.
They didn't earn and extra 4 1/2 billion dollars, it's another pool of tarp money.
So there's money in escrow.
The one thing a lot of people overlook with this is where they got the money to pay the loan.
It isn't from earnings.
They didn't earn and extra 4 1/2 billion dollars, it's another pool of tarp money.
So there's money in escrow.
04-23-2010, 11:21 AM
#36
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How do you "pay off" someone by borrowing more money from them?
When this story broke I asked myself:
"Where in the f*ck did GM get the money?"
Neil Cavuto:
Treasury Special Inspector General of TARP
Neil Barofsky:
Are you so in love with your car you will soak up any propaganda that puts GM in a good light?
When this story broke I asked myself:
"Where in the f*ck did GM get the money?"
Neil Cavuto:
Treasury Special Inspector General of TARP
Neil Barofsky:
Are you so in love with your car you will soak up any propaganda that puts GM in a good light?
You really just have no idea how this all works do you? The big picture is the US government playing with it's own money. From start to finish that's what the whole "bankruptcy" has been. Now that a positive step has been taken, you want to act like you are blowing the whistle and revealing to everyone that some huge conspiracy is going on...just like Senator Grassley. Naturally this is going to be spun 15 different ways to support whatever argument is needed at the time...but the point is that progress is being made. GM WILL be out of this mess and WILL make money...for now they have to play accomplice to the government's money-making tricks.
Bottom line is that you look like an idiot coming in here and calling out everyone on this when YOU yourself don't even understand it.
04-23-2010, 02:02 PM
#37
I'm not calling anyone out, calling anyone names or exposing a "vast left-wing conspiracy".
I just pointed out the absurdity of this story.
All apologies to those that were offended.
If you meant our money then this was my point.
This is a shell game plain and simple, it seems like you agree with that just don't like who I linked to/quoted.
GM loses billions in the last quarter, pays back a loan with another loan and is on the way to solvency.?
When was the last time GM didn't lose billions?
Billions of tax dollars has been pissed away on a company that has no hope of being solvent and
the bast they can hope for is just to stay open by shuffling taxpayer money around.
How much of that money will be given to political candidates?
If someone here wants to drink the Kool-aid (or in this case Gin & Juice)
then go ahead.
I will continue to look at this with a skeptical eye.
Peace out.
I just pointed out the absurdity of this story.
All apologies to those that were offended.
If you meant our money then this was my point.
This is a shell game plain and simple, it seems like you agree with that just don't like who I linked to/quoted.
GM loses billions in the last quarter, pays back a loan with another loan and is on the way to solvency.?
When was the last time GM didn't lose billions?
Billions of tax dollars has been pissed away on a company that has no hope of being solvent and
the bast they can hope for is just to stay open by shuffling taxpayer money around.
How much of that money will be given to political candidates?
If someone here wants to drink the Kool-aid (or in this case Gin & Juice)
then go ahead. I will continue to look at this with a skeptical eye.
Peace out.
04-23-2010, 07:05 PM
#38
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That is a wildly inaccurate statement. No company could possibily stay in business for 100+ years without ever making a profit.
Remains to be seen. Depending on the initial public offering, a profit could still be made.
Only time will tell. At this point nobody can make a 100% call on sucess OR doom.
04-23-2010, 08:33 PM
#40
Maybe if they throw in free shares of Citi Bank and Fannie Mae when you buy GM.
That is speculation and opinion on your part, no facts at all in your statement. Truth is, it could go either way. GM is in a position to potentially make a strong comeback, even moreso now that toyota has feces all over its collective face.
Only time will tell. At this point nobody can make a 100% call on sucess OR doom.
Only time will tell. At this point nobody can make a 100% call on sucess OR doom.
You can "hope" things work out and "change" for the better
but IMO things aren't as good as we're being told.
How you lose $4.3Billion in the last quarter and say profit is around the corner is beyond me.
Don’t believe the hype on GM’s loan repayment
GM last saw a profit in 2004, and lost $88 billion between 2004 and 2009 when it declared bankruptcy.
Why do you think they told everyone the bailout was to avoid bankruptcy and then filed right after they got the money?