General Motors: Obamacare Wrapped in Solyndra Inside Some Misery - New England Patriots Forums

***patsfan13*** · 08-03-2012, 05:57 PM

General Motors: Obamacare Wrapped in Solyndra Inside Some Misery - John Ransom - Townhall Finance Conservative Columnists and Financial Commentary - Page 1

Quote:

GM stock has been in trouble since it was issued, drifting downward from $33 in November of 2010 to a close of near $19 today. The company currently has a market capitalization of around $29 billion after offering about $22 billion in stock to the public a year and a half ago.

In addition, the company also received $52 billion from the U.S. Treasury, $9.5 billion from the Canadians and $12 billion in tax losses carried forward from the pre-bankruptcy days- which for the rest of us regular Joes would be illegal. Oh, then there was that little issue of not paying taxes on the loan that Obama decided to turn into a gift- which again would be illegal for the rest of us.

....

$22 billion + $52 billion + $9.5 billion + $12 billion= $95.5 billion in new money from investors, governments and tax credits that the company has turned into $29 billion in mere months.

GM Stock is currently ~ $19/share it would need to get to $51/share for the Taxpayers to break even.

Obama brags about this being a good investment.

It would have been better to just cut a check for $95 B and told the workers to go get a job with a viable company or retire.

***Patters*** · 08-03-2012, 07:06 PM

I think one of the reasons Rush chronically attacked the GM Volt was part of the Tea Party putting Party before country. The GM Volt got very good review, but for some strange reason Rush and other elements of the radical right went after it. Or maybe Rush drives a Prius? At any rate, I think the GM investment will pay off in time regardless of who gets into office.

Charlotte Pats Fan · 08-03-2012, 07:10 PM

Quote:

Originally Posted by Patters

I think one of the reasons Rush chronically attacked the GM Volt was part of the Tea Party putting Party before country. The GM Volt got very good review, but for some strange reason Rush and other elements of the radical right went after it. Or maybe Rush drives a Prius? At any rate, I think the GM investment will pay off in time regardless of who gets into office.

And your basing this on what? A Gut feeling?

PatsFanInVa · 08-03-2012, 07:11 PM

Saving a million plus jobs including parts makers? It's paid off already.

Qwitcherbichin.

20.4 today.

***IcyPatriot*** · 08-03-2012, 07:17 PM

I think the government should have stayed out of it. The less too big to fail companies we have the better. the downturn in the economy would have spurned several smaller car companies all by itself. The government could have produced similar results with a tax incentive for Americans purchasing new cars ... not Cash for Clunkers either.

i don't have a problem with tax incentives for struggling American industries, ... I do have a problem with our government bailing out public companies that should either subsist or fail based on public demand. With one of if not the highest corporate tax rate in the world a good place to start would be lowering.

***patsfan13*** · 08-03-2012, 07:46 PM

Quote:

Originally Posted by PatsFanInVa

Saving a million plus jobs including parts makers? It's paid off already.

Qwitcherbichin.

20.4 today.

MILLION JOBS, could you please document that?

If they filed bankruptcy they could have restructured or been bought out.

Look at the Ford and GM charts over the past few years Ford has been the better performer without our money.

***Patters*** · 08-03-2012, 10:40 PM

Quote:

Originally Posted by Charlotte Pats Fan

And your basing this on what? A Gut feeling?

The auto market has been growing fairly steadily. As the economy picks up, one would expect it to grow more. Also, GM has a wide range of products, and the Volt really did get mostly very good reviews, and a year or two ago I read that GM was increasing market share overseas. Further, I think at one time GM stock was over $75, so I don't see why it won't get there again.

PatsFanInVa · 08-04-2012, 11:05 AM

Quote:

Originally Posted by patsfan13

MILLION JOBS, could you please document that?

If they filed bankruptcy they could have restructured or been bought out.

Look at the Ford and GM charts over the past few years Ford has been the better performer without our money.

They did file bankruptcy, genius.

No private lender was going to provide debtor in possession (DIP) financing. The Government was.

Do you mean that if GM was liquidated many small car companies would have spontaneously sprung into being? Financed by whom, with what lending capital?

What a crock of sh1t. The liquidity was not there.

As to the job losses, you have direct, indirect (among parts makers), and the services they used. Sorry, I lowballed it; estimates run at least to 2.5 million. But rather than hear you b1tch and moan, I went w/the lower #.

Sherrod Brown talks about the supply chain only @1.45 million, & the Obama folks usually use the 1 million #. I am sure the internet is just chock full of red state regulars looking to lowball the numbers, but among serious people, the accepted conservative # is about 1 million.

Ohio

Quote:

At the time, the Center for Automotive Research, a respected think tank in Ann Arbor, examined the likely consequences of a severe shrinking, the industry with “one of the largest economic multipliers of any sector of the U.S. economy.” It projected a 50 percent contraction would result in the immediate loss of nearly 2.5 million jobs, direct and related. Personal income would fall $275 billion during the next three years.

PFnV

PatsFanInVa · 08-04-2012, 11:07 AM

Quote:

Originally Posted by patsfan13

MILLION JOBS, could you please document that?

If they filed bankruptcy they could have restructured or been bought out.

Look at the Ford and GM charts over the past few years Ford has been the better performer without our money.

Ohhh sorry, I thought you had historic amnesia, but it's reading comprehension again.

20.4 was the stock price for GM on the day of the posting.

IllegalContact · 08-06-2012, 06:49 PM

Quote:

Originally Posted by Patters

The auto market has been growing fairly steadily. As the economy picks up, one would expect it to grow more. Also, GM has a wide range of products, and the Volt really did get mostly very good reviews, and a year or two ago I read that GM was increasing market share overseas. Further, I think at one time GM stock was over $75, so I don't see why it won't get there again.

LOL.....sugar coating.....the volt is a 40K piece of garbage that is crushed by a 13K less expensive ford fusion hybrid

GM will fall flat on its face again.....its already in process

Chevy Volt's problems may not be over as GM's CEO prepares to face Congress - Bottom Line