Solving GMs problem

A good way to solve GMs problem is to sell GM to ford for $1.

Reply to
Canuck57
Loading thread data ...

Once again our friend Canuck57 shows he does not know what he is talking about. GM announced today it will pay off the remaining balance on its federal government loan in June, five years before it is due.

Reply to
Mike Hunter

Saw a blurb today that GM paid back its bailout loans.

Reply to
hls

Regardless of what Canuck57 would have you believe, the fact is GM is set to pay off the balance of it federal loans in June, five years before it is due.

Reply to
Mike Hunter

What I later heard was that this payback was positive, but that the US government (previously the people of the USA) still own 60% of GM.

They have not bought themselves out of indentured servitude yet.

I sincerely hope that GM has learned some lessons. If not, then they probably deserve to fail.

Reply to
hls

You are confused, the GM Preferred Stock that the feds are holding, will be worth more than the feds paid for it when GM goes public again. The US Treasury has already earn a profit on the paid back loans and it will earn more profit, as it did when Chrysler bought back its stock from the feds. As an aside, the feds does not own 60% of GM, the feds and the UAW combined own 60% of GM

Reply to
Mike Hunter

Obviously you failed math.

GM gets over $63 billion, pays back $8.1 and that is a good deal?

Can I borrow money from you?

Reply to
Canuck57

Tell you what, you give me $63 billion and I will pay you back $8.1 billion to satify the bailout.

(Actually it was more as it didn't include cleanup of GMAC and GM.old)

Obviously you could pass grade 5 math either.

Reply to
Canuck57

Who wants to own shares in a company losing $4.8 billion a year (or more as the book keeping is uncertain with a history of unreliability).

I sure as hell would not loan GM m>

Reply to
Canuck57

Oh, I see how this ponzi play goes.

Issue preferred shares, not worth a plug nickel on the market. Get a whack more cash from government charged to taxpayer debt. Get $8.1 billion to pay off the $63 billion taken. And don't forget GM lobbiests in DC, have to feed the back door to DC.

What a huge corruption farce. This is so silly that watching the news on GM is like watching a satirical version of the commedy channel.

USSR - United States Socialist Republic

Who would have guessed. I can't believe the US has gone this far down the rabbit hole.

Reply to
Canuck57

Nope, sorry... The blurb indicated they paid back loans, not the total indebtedment. I would not lend you a penny, although I think you are a reasonable person.

Reply to
hls

When I heard that on the news today I didn't know whether to get angry or laugh at this corruption and perversion. Obama has bastardized this to save their sorry corrupt asses.

He needs to be impeached.

Reply to
Canuck57

Once again you show that you have no idea what you are talking about. The value of the Preferred Shares owned by the feds is less than 20% of the value of GM properties holdings, let alone the value of the machine tools. If GM did actually go under, as you seem to want to happen, the feds would be the first in line to get the receipts of the sale of GM property.

Reply to
Mike Hunter

Your obviously failed economics 101 and once again you prove you do not know what you are talking about. GM paid interest on the loan amount that it paid back five year early and the balance has already been PREPAID to the feds in the form of Preferred Stock, dummy.

No, you can not borrow money, you do not have the assets in place to secure the loan, as did GM, stupid.

Reply to
Mike Hunter

Yet another stupid comment from our friend Canuck57, who apparently never got to fifth grade. LOL

Reply to
Mike Hunter

One like you, who earns minimum wage, is not in a position to loan money, dummy

Reply to
Mike Hunter

Perhaps but our friend Danuck57 is obviously is not one who is well informed of the facts on the subject however. LOL

Reply to
Mike Hunter

Position to and willingness to are two differnt things.

Any> One like you, who earns minimum wage, is not in a position to loan money, > dummy

Reply to
Canuck57

You are not in a position to loan anyone money, even if you were willing. LOL

Reply to
Mike Hunter

MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.