Although many of us did not agree with the feds saving GM, in retrospect the
results clearly show is was the wise thing for the Congress to do.
The TARP money was used as part of the billions GM spent over the past two
years to bring their all new models to market. Those new models are
selling so well that GM has earned a profit in the past quarter of several
million dollars, compared to a loss of over a billion last year.
The balance of the federal money given to GM, secured by Preferred Stock,
will be paid back in the fall when GM once again becomes a publicly traded
Predictions of GM demises were not based on the facts, though many for some
reason seemed to WANT GM to fail. If that had happened the federal,
state(S) and local governments would have lost hundreds of times the amount
annually, of money use to shore up GM, in lost income, capital gains,
property and sales taxes.
In the end the taxpayers gained by saving all of those taxes and earning a
profit on the GM loans as well as earning millions on profit when the
Preferred Stocks are sold.
BBC reports that GM sales rise as US economy picks up.
Are they using TARP money again to skew sales figures?
Again? When in the past did TARP money skew sales figures?
How is it possible for TARP money to skew sales figures?
Rodan. <- - - Doesn't understand high finance
It is pretty easy.
They have real costs of 40 and they sell cars and and get 20 it makes
a loss of 20 but then they borrow 30 and tell everyone they had 50 in
sales and 40 in costs and then report 10 in profit.
Where did you get that idea, from Moveon? A party needs 60 votes to
"Control" the Senate, a majority only give the party the privilege on naming
the Committee Chairman and the Speaker of the House. The Senate does not
have time limited debates as does the house. A single Senator can stop any
Senate bill on the floor by not agreeing to Unanimous Consent. That forces
a vote on the bill and that requires 60 votes to end debate.
GM confirms Belgian plant closure
GM plans to cut 10,000 Opel jobs
GM sells off SAAB
GM cuts many brands
GM seems to be cutting everything all over.
It will be much easier to close it down once and for all as it gets
smaller but for those people losing their jobs after decades of
dedicated work is not nice.
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