The GM Bailout:Another Obama Success Story-Headed For Bankruptcy, Again
 

This is what happens when you have a president who does not believe in free market capitalism. But instead too big to fail and all that BS.

He's left us, the US taxpayers hanging with 500,000,000 shares that have already lost half their value.

http://www.forbes.com/sites/louiswoo...kruptcy-again/

"As Spiering notes, when the Bush administration authorized the first auto loan of $17.4 billion, in October 2008, some aspects of the loan were contingent upon the companies hitting “Restructuring Targets.” Therefore, no one can say that the Bush administration didn’t at least demand or impose guidelines.

Of course, this isn’t to say that “guidelines” make the idea of a bailout any more desirable, but that President Obama‘s allegation simply isn’t accurate."

so, what is it exactly? racism? politicism? blind stupidity?

It's all of the above for those that can't take the time to actually research and read. If a sentence on the internet agrees with their way of thinking, they grab it and post it.

"The only people who don't want to disclose the truth are people with something to hide." ~Barack Obama

I didn't know who signed what.
All I know is I can't count how many times Obama has said he saved GM.
So.. I guess it was Bush that saved GM? Is that right?

There's a huge difference between a loan and a bailout ?Obama style?, hire and fire CEO's, buy huge amounts of stock, screw the bondholders but take care of his union buddies.

And I love this racism charge, any time you disagree with Obama, criticize him or say one bad word about him it's so obviously racism.

you're against socialism right?

i guess bush gave out 17 billion dollars with little or no collateral, no responsibility, using 'targets' which would normally already exist, anyway, right? sounds like a sound way to save the company

maybe the stipulations that this was taxpayer money and not monopoly money is what Obama is referring saved the company

This article is misleading - The title is "GM is headed for Bankruptcy", mentions the stock value and market share early on, discusses the fail of the Chevy Malibu for four pages, but offers no real proof that GM is in fact heading for bankruptcy.

The article says that in the 1960s GM had a 48.3% market share. Well, of course. In the 1960s there are only the "big three" selling cars in the US - this was before Toyota, Honda, Nissan, Subaru and Mazda and their sub divisions like Infiniti, etc) as well as other cars such as BMW and Mercedes Benz, Audi...

I'm defending GM, Obama, or the bail outs... Just commenting on the state of the US auto industry and this silly article.

I'm a Ford guy and have been for years, although as of last week I own more GM products than Ford. But right now GM just has nothing exciting going on. The Malibu is the perfect example. It's just a very bland car. All of their cars are bland, even the new Camaro.

Are you serious?
Anybody on this board thats a socialist, my only question is what the hell are you doing here?

Well okay, except for Paul Markham, we already know he's a one.

Not trying to argue it...
You posted it
"As Spiering notes, when the Bush administration authorized the first auto loan of $17.4 billion, in October 2008, some aspects of the loan were contingent upon the companies hitting “Restructuring Targets.” Therefore, no one can say that the Bush administration didn’t at least demand or impose guidelines.

Exactly my point. Obama and his gang always talking about what a success story it has been, as the old saying goes 'you break it you bought it'.

Meanwhile ..... Kia and Hyundai both new brands are kicking ass! Without loyal truck purchasers Chevy is worthless.

.

oh that obama. he won't be happy until he takes america down. all hail the lovable gazillionaire mormon guy, he'll make things better.

Why is GM going bankrupt?

Obama 4 life

It's just an OP/ED piece. Some guys opinion.

ok so bush used government money to bail out a company that is essentially a bank with an auto division. these are the guys, i might add, did that robosigning bullshit with peoples mortgages.

Obama put stipulations and took part ownership of the country, which forgive my vast canadian socialist tendencies, seems far more in line with the ideals of your nation.

however, you like the white guy, even tho it seemingly goes against all your politics and idealogical beliefs, and are against the black guy, who seems to have a lot more of your interests in mind.

adding the amount of voter suppression, the only president to be shouted at during a stated of the union address, so, yes, its more of a 'this is just fact' than 'playing a race card'

:1orglaugh:1orglaugh:1orglaugh nice

Kia and Hyundai are making some fucking very cool cars these days...

And they are making them here in the US. Great cars and warranties, why can't GM do the same?

Obama screwed the country out of billions the last time handing GM over to the UAW. I cant wait to hear what he would do the next time! :disgust

No one saved GM and they WILL fail.

yeah OK it would of been better if they failed and took the other two with them.

Honestly, I wouldnt doubt terrorists paying OBAMA to take the US down from inside and you IDIOTs that love the guy after ALL he hasnt done will be to blame. Long shot but at this point, I wouldnt be suprised.

Finally someone in this thread speaking some sense

The dow is at 13k it was around 6.5k when he got in. He has lowered taxes twice. Corp profits are at record levels. Please tell me how he is taking America down?

Meanwhile, on the west side of Detroit...

http://i106.photobucket.com/albums/m...gasstation.png

http://files.snapmylife.com/pictures...4484_small.jpg

http://i.imgur.com/TQvkj.jpg


Google Maps View

The following are 25 horrible statistics about the U.S. economy that Barack Obama does not want you to know....

#1 The percentage of Americans that own homes is dropping rapidly. According to Gallup, the current level of homeownership in the United States is the lowest that Gallup has ever measured.

#2 Home prices in the U.S. continue to fall like a rock as well. They have declined for six months in a row and are now down a total of 35 percent from the peak of the housing bubble. The last time that home prices in the United States were this low was back in 2002.

#3 Last year, an astounding 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed.

#4 Back in 2007, about 10 percent of all unemployed Americans had been out of work for 52 weeks or longer. Today, that number is above 30 percent.

#5 When Barack Obama first became president, the number of "long-term unemployed workers" in the United States was 2.6 million. Today, it is 5.3 million.

#6 The average duration of unemployment in the United States is about three times as long as it was back in the year 2000.

#7 Despite what the mainstream media would have us to believe, the truth is that the percentage of working age Americans that are employed is not increasing. Back in March 2010, 58.5 percent of all working age Americans were employed. In March 2011, 58.5 percent of all working age Americans were employed. In March 2012, 58.5 percent of all working age Americans were employed. So how can Barack Obama and the mainstream media claim that the employment situation in the United States is getting better? The employment rate is still essentially exactly where it was when the last recession supposedly ended.

#8 Back in 1950, more than 80 percent of all men in the United States had jobs. Today, less than 65 percent of all men in the United States have jobs.

#9 In 1962, 28 percent of all jobs in America were manufacturing jobs. In 2011, only 9 percent of all jobs in America were manufacturing jobs.

#10 In some areas of Detroit, Michigan you can buy a three bedroom home for just $500.

#11 According to one recent survey, approximately one-third of all Americans are not paying their bills on time at this point.

#12 Since Barack Obama entered the White House, the price of gasoline has risen by more than 100 percent.

#13 The student loan debt bubble continues to expand at a very frightening pace. Recently it was announced that total student loan debt in the United States has passed the one trillion dollar mark.

#14 Incredibly, one out of every four jobs in the United States pays $10 an hour or less at this point.

#15 Household incomes all over the United States continue to fall. After adjusting for inflation, median household income in America has declined by 7.8 percent since December 2007.

#16 Over the past several decades, government dependence has risen to unprecedented heights in the United States. The following is how I described the explosive growth of social welfare benefits in one recent article....

Back in 1960, social welfare benefits made up approximately 10 percent of all salaries and wages. In the year 2000, social welfare benefits made up approximately 21 percent of all salaries and wages. Today, social welfare benefits make up approximately 35 percent of all salaries and wages.
#17 In November 2008, 30.8 million Americans were on food stamps. Today, more than 46 million Americans are on food stamps.

#18 Right now, more than 25 percent of all American children are on food stamps.

#19 According to the U.S. Census Bureau, today 49 percent of all Americans live in a home that receives some form of benefits from the federal government.

#20 Over the next 75 years, Medicare is facing unfunded liabilities of more than 38 trillion dollars. That comes to $328,404 for each and every household in the United States.

#21 During the first quarter of 2012, U.S. public debt rose by 359.1 billion dollars. U.S. GDP only rose by 142.4 billion dollars.

#22 At this point, the U.S. national debt is rising by more than 2 million dollars every single minute.

#23 The U.S. national debt has risen by more than 5 trillion dollars since the day that Barack Obama first took office. In a little more than 3 years Obama has added more to the national debt than the first 41 presidents combined.

#24 The Federal Reserve bought up approximately 61 percent of all government debt issued by the U.S. Treasury Department during 2011.

#25 The Federal Reserve continues to systematically destroy the value of the U.S. dollar. Since 1970, the U.S. dollar has lost more than 83 percent of its value.

But the horrible economic statistics only tell part of the story.

In communities all over America there is a feeling that something fundamental has changed. Businesses that have been around for generations are shutting their doors and there is a lot of fear in the air. The following is a brief excerpt from a recent interview with Richard Yamarone, the senior economist at Bloomberg Brief....

cutting the wealthy's tax rate, doing away with the new healthcare law, and slashing medicare would fix all of these issues immediately

How many billions of dollars is Canada going to have to chip in this time to keep America's cock hard and the useless unions beating their meat?

Hopefully none. Let that joke of a company fail already.

Buh-bye, GM. You should have built one good car.

you missed how a fast food restaurant would be a manufacturing job

Turn Around
 

Neither Hitler or Roosevelt managed to turn around their economies in just a few years in office.
Hitler had it easier, as most parliament members were Nazis. Took FDR a little longer.

Obama can't get anything done as the Republicans fight him tooth and nail on anything.
It takes a president & congress working together to get anything done. When the unemployed, the homeless, the poor are forgotten and only the super rich get tax breaks passed how does this help America?

When worker's 401Ks or pension plans are stolen to fatten the rich, how doe that help America?

Where is the Republican JOB PLAN?? Too busy with abortion.

GFY

All looks good till you have to pay the bill!

Will Mitt do any better? No, I honestly think he will make corps bigger and meaner. is that even a word? lol

I am scared!

I love these. Toss is some odd facts that are true but not really the current administration's fault, some half truths, and then some lies.

Let's see.

Gas went up 100% since Obama has been in office? Really? I must have missed that. The average cost of gas peaked in July of 2007.

I also love the one about less Americans than ever owning a house. Well, the last Republican administration caused the worst economic crisis the country has seen in sixty years, causing a large percent of people to lose their houses - which you then in turn blame on Obama.

Fucking comical.

Even if you dislike Obama, how could you still even consider Romney and any of his buddies after this weeks complete fail and lie-fest that was the GOP convention?

Because the reason GM is going down might ring true for many other companies.

Anyone who thinks Mitt is going to come in with a magic join button and fix the problems is beyond stupid.

DudeRick think deeper before you post.

Here's another Forbes opinion stating the opposite of going bankrupt: http://www.forbes.com/sites/joannmul...eneral-motors/

Never in a million years did I ever expect to say this, but the new Impala is a pretty fucking hot, for BIG car with the Chevy badge.

http://33autocars.com/wp-content/upl...-side-Left.jpg

But she contradicts herself throughout the entire article. Look, if your stock is down 50% in 3 yrs. and you have all kinds of other problems, in the current economic climate, bankruptcy isn't too far fetched.

Hopefully they will be allowed to fail this time. That's the way it should work.

GM never should have been allowed to get so big in the first place. Then the bailout wouldn't have been necessary - and it WAS necessary.

I agree. That's a sharp looking buggy. And an Impala of all things. Cool.

"A man hears what he wants to hear and disregards the rest." -- The Boxer

Hopefully? Do you realize if they let gm and chrysler fail the last time they would of took ford with it and all the third parties that work with them and are very combined.
Also if the gov didnt step in no one was interested in putting up the funds to put them thru the bankruptcy.
Middle class keep taking hits, it hurts you it has a ripple effect. Those are the people that buy memberships to sites.

Fucking right on. The pigs in the GOP have done worse than nothing. They have SABOTAGED the recovery. They have denied every one of Obama's jobs bills - just shut down debate.

-- GOP Senate Minority Leader Mitch-the-bitch McConnell http://nationaljournal.com/member/ma...ident-20101023

http://www.newscorpse.com/Pix/Charts...ng-economy.jpg
http://i50.tinypic.com/vy4lj4.jpg

Nice liberal rag stats-but don't worry we're nonpartisan.
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GM was going to die anyways. All of their growth has been in China whereas the rest of their markets have declined.