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Gov. looks to dump GM before election.....

Discussion in 'Off Topic Threads' started by Luckyman, Apr 21, 2011.

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  1. Luckyman

    Luckyman Active Member

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    Gee I wonder what's going one here? Now that gas is at an all time high and GM stock at an all time low it's time to stick it to the taxpayers once again!!!

    Did you hear that the steering wheels of the Chevy Cruise were coming off? Yeah that's right! our beloved UAW putting quality products on the road once again....I wonder why GM stock isn't performing? Why does Obama want to dump it?

    This guy is an F-N disgrace and has no clue about business, foreign policy etc. etc...We have never ever had someone so unqualified to perform the responsibilities of President ever in US History!!!


    U.S. Hurries to Sell GM Stake
    By SHARON TERLEP
    APRIL 19, 2011

    The U.S. government plans to sell a significant share of its remaining stake in General Motors Co. this summer despite the disappointing performance of the auto maker’s stock, people familiar with the matter said.

    A sale within the next several months would almost certainly mean U.S. taxpayers will take a loss on their $50 billion rescue of the Detroit auto maker in 2009.

    To break even, the U.S. Treasury would need to sell its remaining stake—about 500 million shares—at $53 apiece. GM closed off 27 cents a share at $29.97 in 4 p.m. trading Monday on the New York Stock Exchange, hitting a new low since its $33-a-share November initial public offering…

    The stock market must not have heard about the Chevy Volt. Mr. Obama has told us that it is going to revolutionize the auto industry and save General Motors.

    At Monday’s price, and taking into account shares sold during the IPO, taxpayers would lose more than $11 billion on the rescue if the government dumped the rest of its stake now.

    So the US taxpayer is going to lose more than 1/5th of their investment. Remember how Mr. Obama and the Democrats and their lickspittle media promised us that the taxpayer would turn a profit from bailing out GM? In fact, weren’t we told before the 2010 midterms that GM had already paid back its bailout?

    But what’s $11 billion dollars down the drain, as long as Mr. Obama’s UAW constituents still get to keep their Cadillac health insurance and pensions? After all, after blacks, union members are Mr. Obama’s most dependable voting block. They must be protected at all costs.

    Government officials are willing to take the loss because the Obama administration would like to sever its last ties to the auto maker, the people familiar with the matter said. A summer sale makes it more likely Treasury could sell all of its stake in GM by year’s end, avoiding a potentially controversial sale in the 2012 presidential election year.

    In other words, Mr. Obama is willing for the taxpayers to lose $11 billion dollars in order to take GM off of the books in time for his re-election campaign. Isn’t it comforting to see what his priorities are?

    His priorities are always about holding on to power. And everything else can go to hell.

    GM also would like an early exit in large part because it faces tight restrictions on executive pay as long as the U.S. government is a part owner…

    Oh, our sides. Now that the UAW are the owners, they don’t want any stinking salary caps on their executives.

    And, as we have noted before, the GM and Chrysler bailout — actually we should just call it the ‘UAW bailout’ — was done at Mr. Obama and the Democrats most strident insistence.

    From the (post-election) November 11, 2008 edition of the Washington Post:

    Obama Asks Bush to Back Rescue of Automakers
    By Lori Montgomery and Michael D. Shear
    Tuesday, November 11, 2008; A01

    President-elect Barack Obama yesterday urged President Bush to support immediate aid for struggling automakers and back a new stimulus package…

    Yesterday, in an urgent bipartisan appeal, all 15 House members and both senators from Michigan sent a letter asking the Bush administration to include the auto industry in the Treasury program on its own initiative or to work with Congress to modify the program.

    "There’s an urgent crisis. It’s a national issue. If the administration won’t act, we’ll have to. But they should act," said Rep. Sander M. Levin (D-Mich.)…

    Democrats want the Bush administration to approve an additional $25 billion in loans from the Treasury program, bringing total federal assistance to the car companies to $50 billion…

    The letter followed a similar entreaty to Paulson over the weekend by House Speaker Nancy Pelosi (D-Calif.) and House Majority Leader Harry M. Reid (D-Nev.)…
     
  2. stokinpls

    stokinpls Well-Known Member

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    Another money laundering scheme to benefit the DNC goes down the tubes.
     
  3. Luckyman

    Luckyman Active Member

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    How about that!
     
  4. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

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    If he was as good at straightening out the country as he is at screwing it up we would be in great shape. Bulge.
     
  5. recurvyarcher

    recurvyarcher Well-Known Member

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    He's doing so much to ruin our economy that one would start to think that it may be on purpose...
     
  6. Luckyman

    Luckyman Active Member

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    I'm starting to believe that myself....How can anyone make so many mistakes?
     
  7. grnberetcj

    grnberetcj Active Member

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    It is on purpose. It's all part of the new world takeover!!

    Curt
     
  8. shooterIII

    shooterIII Member

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    It's all orchestrated by the Democratic Puppet Master George Soros.
     
  9. Luckyman

    Luckyman Active Member

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    Beck has been right on the money all along! This is not by accident....People that are buying what Obummer is selling are mentally handicapped sheep being lead to slaughter!!!! Unfortunately if there are enough sheep to re-elect Obummer we are all going to slaughter with them....
     
  10. hoot619

    hoot619 Member

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    Ya Luckyman Blame it all on the UAW as far as quality goes. Management hasn't a
    damn thing to do with it. Get your head out of the sand. Quality control is just that and that means it better be right when it leaves the plant. Why do you think the foreign cars sell so good. Also they produce what we need not what our U.S. car companies think we should have. High HP gas guslers, GM's diesel engine for cars. If they would have built one from scratch and perfected it like they should have! Think where they could be today. They have the excellent engineers to design and get the best product. In the past when they have a excellent engine,transmission or what ever. Then the cost people try to cheapen the build of it. That is when the problems start. Ken U
     
  11. Recoil Sissy

    Recoil Sissy Well-Known Member

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    Numbers explain a lot.

    The UAW represents more than 1 million active and retired workers in automobile manufacturing, aerospace, construction equipment, health care, higher education and other industries. Between 1990 and 2010 the UAW contributed $27,104,457 to political candidates. 99% of that went to democrats.

    UAW President Gettelfinger announced the UAW's endorsement of Obummer on June 10, 2010 in a press conference stating, "... Obama has given the country a positive vision for a better America and concrete plans to achieve it".

    Gettelfinger noted in the same release that (Obummer) pledged to rebuild the country's manufacturing base and ASSIST THE AUTO INDUSTRY. (emphasis by sissy)

    The bailout of General Motors (now Gub'ment Motors) was, in fact, a bailout of GM's UAW members who were kept virtually 100% intact.

    If the bailout had been anything other than a 'cash for votes' payoff, the interests of GM's bondholders would have received some measure of consideration. What they and other investors got was a 100% f'cking.

    sissy

    PS: Did anyone REALLY believe the UAW bailout would result in anything other than a net loss to taxpayers as well??
     
  12. Luckyman

    Luckyman Active Member

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    Hey hoot!!! Have you heard about the latest GM recall? The steering wheels coming off the Chevy Cruise! Are you F-N kidding me? Are you saying the workers are not responsible for this??? Are you off your rocker??

    The UAW has compromised GM as well as Chrysler to the point of extinction by producing shit product at a high cost and are not able to compete due to UNION LABOR! Do you think it's just coinicidense that the auto companies like Toyota and Honda who are not reliant on the UAW magically put out a better product at a better price??? You my friend needs to get your head out of the sand or the fecal matter out or your head!!!!
     
  13. smsnyder

    smsnyder Well-Known Member

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    Figure this , Gm dumped Pontiac,Hummer and Saturan. While Hyundai and Kia expanded in the U.S
     
  14. Recoil Sissy

    Recoil Sissy Well-Known Member

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    P3AT:

    I'm not looking for an argument but I'm not sure I get your point.

    FWIW, the UAW has represented many of the Johnson Control employees associated with auto parts manufacturing since about 2002.

    Lear employees are apparently represented by different bargaining units depending on plant location and products made. For example, Lear employees making auto seats are or at least were represented by the Needletrades, Industrial & Textile Employees Union.

    Somebody else can debate what if anything, bargaining units representing employees making outsourced components have to do with defects or recalls.

    sissy

    I have no interest in Gub'ment Motor's Cruise or anything else they make or will EVER make.
     
  15. Luckyman

    Luckyman Active Member

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    I forot to ask...Are the steering assembly's for GM created by UAW workers as well? If that is the case there is no where else to point the finger....
     
  16. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Obummer's bailout of GM was designed to do one thing... protect union votes by preventing GM from dumping its union obligations in a full on bankruptcy. A lot of people thought it would be best for GM to go under, and as it turns out, they were right.

    As for the Chevy Dolt..er..Volt.. A $40,000 Chevy electric car that's inferior to the Prius and costs more? Yeah, what could possibly go wrong with that?
     
  17. Luckyman

    Luckyman Active Member

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    Noooo...The UAW will for surely save the day...

    BTW...I would love to know how long those workers had been smoking pot and drinking on the job prior to the point of getting caught...Years perhaps? Also, those are just the morons that they caught...How many more were not caught doing the same thing in a place that can't be video taped...I bet UAW workers don't even get randomly drug tested...Any takers on that one???

    UAW AND ALL OTHER UNIONS ARE DISASTER FOR THIS COUNTRY ANY WAY YOU SLICE IT!!!
     
  18. SeldomShoots

    SeldomShoots Active Member

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    Lucky, according to Car & Driver Honda and Toyota mid-size cars aren't cheaper. Honda was ranked the best in 2008 with Nissan 2nd and Chevy 3rd. If union labor is the problem why aren't all of the foreign cars cheaper and all in the top 5 or 6?

    http://www.caranddriver.com/var/ezflow_site/storage/original/application/40356cf88c6a9193dfcd19ed5af28728.pdf

    http://www.caranddriver.com/reviews/comparisons/08q1/2008_honda_accord_vs._nissan_altima_chevy_malibu_hyundai_sonata_toyota_camry_ford_fusion_dodge_avenger-comparison_tests

    While many unions have evolved into parasitic entities, you cannot lay the blame for Detroit's problems solely at the feet of unions or labor. For whatever reason, it makes you happy to bash unions and only unions, but you need to get your head out of the sand and realize there are more forces against American Manufacturing than just unions and labor.

    John

    P.S. When is the last time you shot trap or registered birds? It looks like you have started about 6 threads on TS.com in the last week and not one of them is trap or shotgun related? Do you shoot trap or just shoot your trap off?
     
  19. Luckyman

    Luckyman Active Member

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    Noooo...Your right....Detroit is thriving because of the UAW...BTW...I shoot plenty...Not sure what your point is here???? Probably trying to avoid an argument you can't win...I understand....I believe they have a OFF TOPIC THREAD FOR A REASON! If you don't like or disagree with what I post stay off my threads or only stay in the SHOOTING TOPIC DISCUSSIONS if you can't handle it!!! BTW...You can call it union bashing or whatever you want but I can clearly see a boil when it needs to be lanced...

    Why is it that every company that relies on Union labor struggles to compete in profit and product or service? Why is it that our education system sucks and we pay more for per kid than anywhere in the world??? Why do companies move from states to other states or to other countries for that matter just so they don't have to operate under the HIGH COST OF UNION LABOR....Why is GM building cars in Mexico for Christ SAKE!!! Why does China dominate in MFG??

    UNIONS WERE NEEDED AT THE TURN OF THE CENTURY WHEN WORK STANDARDS NEEDED TO BE SET DURING THE INDUSTRIAL REVOLUTION....THAT'S OVER!!! HAS BEEN FOR SOME TIME...THEY ALL NEED TO BE ERADICATED FOR THE GOOD OF AMERICA!!! ALL UNIONS DO IS ALLOW THE UNEMPLOYABLE TO REMAIN EMPLOYED.....
     
  20. noknock1

    noknock1 Active Member

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    Here is a magnet I found....



    [​IMG]
     
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