Well it is 8 days left. Obama is making more rant about rebuilding GM and
shafting bond holders and share holders. Bond holders to get next to
nothing and the share holders so diluted toilet paper is worth more than GM
stock. And unload worthless paper to CAW/UAW in lieu of debt.
My guess is GM & Chrysler bond holders aught to get together for a class
action lawsuit citing the US government is welching on debt and corporate
law. Bond holders, not the government and unions own GM property in legal
terms, trouble is will US justise honor it's own laws?
This week saw a rise in GM stock, either pump and dump or insider trading.
The volumes are big time high, on Friday's close GM dropped some 25.5% on
more than 6 times average volume. What a crap shoot.
But note, GM is moving in the opposite direction to the market for most of
the week. If it looked like Debtor Obama was going to fork out tons of cash
the market dropped and GM pumped up. When it didn't materialize, the market
went up and GM tanked. Markets know if taxpayers have less money, there is
If Obama wants an Oba-mama-mobile he should wait until the GM firesale and
get the plants and equipment cheap, and forumulate a much leaner Government
Motors (if that is possible). Would save taxpayers a lot of money for the
extravagances. Who knows, maybe the government is buying up GM common
It is probably the least of GM's problems, but those plastic manifolds are
costing consumbers a fortune. Know someone who kept their GM too long and
it is going to cost them $1600. Needless to say their next vehicle isn't
going to be a GM.
But a week from now, the courts are about to get very busy. Good time to be
a corporate bankruptcy lawyer for sure.
The cost of auto bailouts?
I bet at $130B (and growing) GM is now a ward of the state. Lets see, maybe
100M people work in the USA. Maybe 80M pay more than pennies for taxes. So
if you are a middle class worker, Detriot auto (excluding banks and other)
are costing your families $1625 in taxes, GMAC, banks and interest extra.
Just for two companies, Chrysler and GM....
Might want to ask who is bailing you out?
/'/ / /
('( ' /' ')
GM, Carlyle, GMAC, Chrysler-Cerberus, CAW-UAW, get your
selfish greedy hands out of our pockets!
We don't steal from you!
Why do you steal from us?