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Alastor 'Mad- Eye' Moody
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Jan in Colorado
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biofriendlyblogFeb 22, 2011
Definitely seems like they are coming back well after the bankruptcy.
conservative_zombieFeb 23, 2011
Was the any doubt? Government backed infusion of cash. Government sanctioned special bankruptcy protection. Basically got a big old do-over, shedding the bad and keeping the good without repercussion or obligation.
Just think of all those stock holder boned up the ass. Suppliers left swinging in the breeze. Local and State municipalities shouldered with the cost of cleaning up the environmental disasters that GM just walked away from.
Yes...Hooray for Big Business.
conservative_zombieFeb 23, 2011
Oh my, a sweetheart tax deal for General Motors? Say it isn't so !!
http://money.cnn.com/2011/02/23/news/companies/gm_bailout/index.htm?source=cnn_bin&hpt=Sbin
Just more evidence that the Democrats are just as willing to deep throat the corporations.
jqp123Feb 23, 2011
"Just more evidence that the Democrats are just as willing to deep throat the corporations."
But only if they have a lot of Democratic voters on the payroll.
It's stand operating procedure in politics --- you support those who support you.
rufiohoFeb 22, 2011
Wahoo, that is awesome news!
cybersaurFeb 22, 2011
Remember, kids, if it were up to the republicans there would be no more GM! Democrats saved the American auto industry.
mbraynardFeb 23, 2011
Remember, kids, liberals are liars and will say anything.
Republicans would have seem GM in bankruptcy, letting a judge relieve them of them of crippling healthcare and pension obligations.
Instead, the Democrats sunk billions of taxpayer dollars into the company and robbed bondholders of their investments to support the Democrat's union allies.Comment is buried, click here to see the rest.
mrteflonFeb 23, 2011
Without the unions you would not need to export job's overseas or to Mexico (have you seen the shanty cities outside the factories in Mexico for their workers? 4 sheets of plywood and a tarp if they are lucky)
All you mega millionaires would feel justified in paying 15 cents and a handful of grain a day for the "Overpaid" American workers.
A Republicans wet dream.
mbraynardFeb 23, 2011
Remember, kids, liberals are liars and will say anything.
Republicans would have seem GM in bankruptcy, letting a judge relieve them of them of crippling healthcare and pension obligations.
Instead, the Democrats sunk billions of taxpayer dollars into the company and robbed bondholders of their investments to support the Democrat's union allies.Comment is buried, click here to see the rest.
usarugulaFeb 23, 2011
Thank you for providing the opportunity to bury your comment twice. Very satisfying.
Closed AccountFeb 23, 2011
Wow...more proof that ultra lefties like cybersaur really DON'T care how stupidthey make themselves look.
mrteflonFeb 23, 2011
As Forrest would have said to you stupid is as stupid does daliop!
xsantoFeb 23, 2011
I agree. Otherwise Russia bought part of GM
scamper22Feb 23, 2011
umm no.
there is nothing wrong with bankruptcy. It is standard fare in all western countries.
A company declares bankruptcy.
it can then reorganize, break old contracts..
It can also be broken up and assets to other companies.
There was no reason whatsoever for the government to get involved in GM.
In all probability, GM would have stayed GM if it went into bankruptcy, it would have just done so without all the old union baggage.
conservative_zombieFeb 23, 2011
I think you meant Democrats saved their union voting block
jqp123Feb 23, 2011
"Remember, kids, if it were up to the republicans there would be no more GM! Democrats saved the American auto industry."
Remember kids, of the $50 billion or so of "assistance" given to GM, $13.4 billion was provided by the Bush administration.
http://mediamatters.org/research/200906080047
conservative_zombieFeb 23, 2011
And you know how GM made that loan payment, the one they trumpeted about making earlier than required?
By using more government money. Yep, they took government money from Pile B and used it to pay the load on Pile A.Comment is buried, click here to see the rest.
cathicrisFeb 23, 2011
Thanks for sharing this information, and i am glad to read this.
http://digg.com/cathicris
felix45Feb 23, 2011
BIG GOVERNMENT IS THE DEVIL! THE GOVERNMENT CANT DO ANYTHING RIGHT!
oh wait....what is this?
UnfashenomicFeb 23, 2011
Now if they can make the Post Office start making money too, I'll be really impressed...
imurphsFeb 23, 2011
Or Amtrak.
jqp123Feb 23, 2011
I wouldn't say that government is "the devil" but if you're looking for something that the government *did right*, my suggestion would be to keep looking; this wasn't it.
2serveFeb 23, 2011
Did they accept bail-out money?
wilhoitmFeb 23, 2011
Yes, and a lot of it. Ford was the only one that did not accept bail out money. Actually Ford didn't really need it! Ironically I can see GM making more profit than Ford eventually because GM got free money, ironic isn't it!
Closed AccountFeb 23, 2011
How is that even remotely ironic?
jareddennisFeb 23, 2011
Irony is when the opposite of what is expected occurs. In this case it is the expectation that a government-run business will fail.
wilhoitmFeb 23, 2011
Obama 2012!
dagamer34Feb 23, 2011
Prediction:
a) Economy gets its s**t together - Obama wins easily
2) Economy continues to limp along - ???
devtarFeb 23, 2011
Great now where are the jobs?
usarugulaFeb 23, 2011
Ask those busily bringing anti-abortion legislation to the House floor.
conservative_zombieFeb 23, 2011
Apparently the Democrats are too bush being corporate lackeys.
mrteflonFeb 23, 2011
Ask the newly elected Tea Party Republicans they are working hard on it now.. Ohh erp wait they are working on that right after they are done with their war on the poor moms and kid's. or Attacking the new health-care that was just passed.
tetratorFeb 23, 2011
Ford didn't directly receive any bailout money and posted $6.6 billion in 2010 profits.
http://www.usatoday.com/money/autos/2011-01-28-ford-profit_N.htm
I remain unconvinced of claims that the government "saved the auto industry."Comment is buried, click here to see the rest.
wilhoitmFeb 23, 2011
Unconvinced? Imported from Detroit! Nuff said!
www.youtube.com/watch?v=SKL254Y_jtc
bcronosFeb 23, 2011
"The dramatic reversal of fortunes comes less than two years after the automaker declared bankruptcy and was taken over by the United States government."
Any business can survive with an unlimited supply of other peoples money. How about they make it on their own or fail, like in the real world...Comment is buried, click here to see the rest.
tekaninFeb 23, 2011
God bless General Motors.
cuishi14Feb 23, 2011
If they would have went under who would have got their tech? An does it include EVERYTHING?
scamper22Feb 23, 2011
umm... bankruptcy does not mean the company gets sold off.
Lots of companies go bankrupt... they reorganize, break old bad contracts and come out as the same company.
A lot of people here seem to have no understand of the bankruptcy process.
jqp123Feb 23, 2011
"A lot of people here seem to have no understand of the bankruptcy process."
And you seem to "no understand" that what happened with GM was anything but a "normal" bankruptcy.
spatula7Feb 23, 2011
The financial industry caused an economic disaster that effected everyone else ...the disaster was caused by greed, ignorance and lack of regulation and could have been avoided...this disaster was not a natural business cycle occurrence...the government subsequently did its job to support a businesses that helps employ a lot of people that depend upon it (the economy is interconnected), just like government should help anyone who is struck by a natural disaster...over time if GM fails, it can now fail in a more natural business cycle, without the sudden stop that would have caused a lot more economic harm...it was probably the right thing to do and had little to do with unions...you might argue with who got bailed out and who didn't and why, but that is a different argument around the execution of disaster relief.
paultripFeb 23, 2011
and they screwed thousands of people out of money.....wrong!
investorplacecomFeb 24, 2011
If there's one part of the economy that needs a boost it's the American auto industry. Thank goodness. Keep it up Detroit.
WellwerFeb 25, 2011
very interesting!