Topic: GM Bailout

[blackbirdracing]

Buick out sold Pontiac, olds, and Saturn worldwide. It was not a tough decision.  Don't be mad at GM.  Be mad a China.

GJ is right Buick is #1 in china.

[Kelu]

GJ is right Buick is #1 in china.

Who brought Buick in China? Not USA? If they would get Saturn or Pontiac there, wouldn't be the other way?

[Sol Asylum]

Buick may have sold in China but how's it doing in the States?  Why couldn't GM have just kept Buick as a brand in China kind of like how they have Vaxhall in England and Opel in the rest of Europe?

Kelu I don't know if China ever got Pontiac or Saturn models, that's a good question.

[Kelu]

My point was: stop blaming China when US (GM)  does it on its own.

[Carbon Sky]

 

My point was: stop blaming China when US (GM)  does it on its own.

[elff]

I personally think they should have let GM tank.
The execs should be in jail for taking the bailout money and giving themselves bonuses.
I love my sky but i will never buy another GM product new. 
Id love a second Sky or Coupe though.

[Helios]

I personally think they should have let GM tank.
The execs should be in jail for taking the bailout money and giving themselves bonuses.
I love my sky but i will never buy another GM product new. 
Id love a second Sky or Coupe though.

Under normal circumstances I would agree with you. However, the economy was royally fuct at the time and if Obama had let GM fold then the country could have gone into a full blown recession. It wouldn't just have been GM that suffered, but the domino effect would have spread far and wide and many more people would have probably been suffering. Hind sight is always 20/20. Someone always has to hate on the decisions the guy on top makes. I learned long ago in the military that we may not be privy to all the information that the guy that has to make the hard choices does.

[elff]

The domino effect is spreading and the small business are going to pay the bill while GM is getting special treatment.

General Motors paid zero corporate income taxes last year.

You read that right, GM paid ZERO corporate income taxes last year; a year in which they made $8 billion in profits.

Small businesses across the country paid more than the giant corporation GM.
Think about that for a minute—-your favorite local restaurant likely paid higher taxes than GM.

So the next time you hear the phrase, everyone should pay their fair share, ask yourself:
Should small businesses pay higher taxes when a giant corporation pay nothing?

So we borrowed a crap load of money that our country did not have to further increase the county's debt and put it DIRECTLY into the pockets of the Millionaire Executives who were the ones responsible for improperly running the company
and on top of that
a boatload of Saturn and Pontiac employees still lost their jobs.

Sorry, but your never going to get me to agree.
The only way I would budge is if the execs at GM who used the bailout money for themselves, vs the company, end up in jail for embellezment. <----Have at it SA, I can't spell worth a crap
and
GM pays the appropriate amount of taxes that a small business would pay.

I wish I could run my personal finances like that.
I would stop paying my Mortgage because the penalty would be a beach front property second home.

[Helios]

I never said anything about GM not paying taxes. I think they should have. Guess what? That's tax loopholes or exemptions that GM exploited. If I had a lot of money and I knew I could get away with legally avoiding taxes I would. Most anyone else that says they wouldn't is a liar. Back on topic...

[06CoolSolstice]

Under normal circumstances I would agree with you. However, the economy was royally fuct at the time and if Obama had let GM fold then the country could have gone into a full blown recession. It wouldn't just have been GM that suffered, but the domino effect would have spread far and wide and many more people would have probably been suffering. Hind sight is always 20/20. Someone always has to hate on the decisions the guy on top makes. I learned long ago in the military that we may not be privy to all the information that the guy that has to make the hard choices does.

Didn't we go into full blown recession anyway?  Auto bailout, stimulas, and bank bailouts and we still went into the worse recession since the Great Depression.  I would argue that GM should have been allowed to go into bankruptcy, their debts would have been elimiated and their union contracts redone.  GM's profits are largely done with creative accounting, their legacy costs were never fixed so new GM has the same issue's as Old GM.  If they were really so profitable their stock would be much higher then the government could sell its share and we might recoupe some of our money.  Just my 

[Sol Asylum]

GM did file for and go through bankruptcy, ask anyone that had stock in them.

[duckSol]

GM did file for and go through bankruptcy, ask anyone that had stock in them.

  Let's not discuss Obamacite denial here. 

[06CoolSolstice]

Yeah a modified bankruptcy, where the unions were made whole the creditors and shareholders wiped out and the taxpayers left holding the bill.  Pontiac would have survived a normal bankruptcy, it was killed by th government auto czar that did not like GM's plan to turn Pontiac into the American BMW, focused on performance cars.

[Sol Asylum]

I pointed out how the manufacturer of my Kappa filed and went through bankruptcy today.  Is that better TS?

[NormSky]

The Government Motors fervor continues today and it doesn't help the name or sales It'll probably continue until well after the government sells GM stock, if ever.

[Brazen17]

GE did the same thing as GM and paid no taxes. There should NEVER be bailouts. GM should have went through normal bankruptcy proceedings and either reorganized and become leaner and meaner or sold off it's assets. Capitalism works great. Crony capitalism not so much.

[cdnite]

I personally think they should have let GM tank.
The execs should be in jail for taking the bailout money and giving themselves bonuses.
I love my sky but i will never buy another GM product new. 
Id love a second Sky or Coupe though.

AMEN!!!

I am and have always been a Ford guy, I bought the SKY because I wanted a roadster and in 2007-2008 the best bang for the dollar in performance, upgrade-ability, gas mileage, and my own aesthetic desire was the SKY RedLine!! However after dealer issues, warranty issues, part supply issues from the end of the platform, and what I think of the bailout situation, I WILL NEVER BUY A GM PRODUCT AGAIN!!!!!!!!!!

Sad, cause I fancy a CTS-V Wagon....

--Christian

[cdnite]

The domino effect is spreading and the small business are going to pay the bill while GM is getting special treatment.

General Motors paid zero corporate income taxes last year.

You read that right, GM paid ZERO corporate income taxes last year; a year in which they made $8 billion in profits.

Small businesses across the country paid more than the giant corporation GM.
Think about that for a minute—-your favorite local restaurant likely paid higher taxes than GM.

So the next time you hear the phrase, everyone should pay their fair share, ask yourself:
Should small businesses pay higher taxes when a giant corporation pay nothing?

So we borrowed a crap load of money that our country did not have to further increase the county's debt and put it DIRECTLY into the pockets of the Millionaire Executives who were the ones responsible for improperly running the company
and on top of that
a boatload of Saturn and Pontiac employees still lost their jobs.

Sorry, but your never going to get me to agree.
The only way I would budge is if the execs at GM who used the bailout money for themselves, vs the company, end up in jail for embellezment. <----Have at it SA, I can't spell worth a crap
and
GM pays the appropriate amount of taxes that a small business would pay.

I wish I could run my personal finances like that.
I would stop paying my Mortgage because the penalty would be a beach front property second home.

Hahaha!

Well said!!!

Now get out of my head or stop reading my exact thoughts!!!

--Christian

[cbr6]

you forgot chrysler... if your gonna hate hate on them too, ing peice of shit cars

[Brazen17]

you forgot chrysler... if your gonna hate hate on them too, ing peice of shit cars

They should not have been bailed out either. But at least they paid it back... GM will never, ever pay back the billions they owe the tax payer. Ever. I hope I'm wrong.

[Brazen17]

AMEN!!!

I am and have always been a Ford guy, I bought the SKY because I wanted a roadster and in 2007-2008 the best bang for the dollar in performance, upgrade-ability, gas mileage, and my own aesthetic desire was the SKY RedLine!! However after dealer issues, warranty issues, part supply issues from the end of the platform, and what I think of the bailout situation, I WILL NEVER BUY A GM PRODUCT AGAIN!!!!!!!!!!

Sad, cause I fancy a CTS-V Wagon....

--Christian

So buy a used one. GM won't get the money. I know there is a secondary market and GM probably beneifits somehow but by and large they don't get any additional money. Unless you blow the engine or something like that... 

[Sol Asylum]

Hahaha!

Well said!!!

Now get out of my head or stop reading my exact thoughts!!!

--Christian

Damn, Elff must be smaller then I thought.

[Brazen17]

Damn, Elff must be smaller then I thought.

No. You got it about right!