1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

== Shameless General Motors Strikes Again ==

Discussion in 'Off Topic Threads' started by GW22, Feb 14, 2011.

Thread Status:
Not open for further replies.
  1. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Remember when GM stabbed it's bondholders in the back and went on welfare and then their CEO went on TV and lied about having paid it all back early?

    Well, that CEO did his dirty deed for the government and is long gone with his millions in compensation, despite having never even moved to Michigan.

    And now?....

    BONUS TIME FOR EVERYBODY!!!!

    Imagine the sheer audacity of paying $400 million in bonuses while you still owe the American taxpayers tens of billions. Wow, it is truly astonishing what the taxpayers and car-buying public will tolerate in this country. What a bunch of ridiculous suckers we are. It's no wonder the government teams up with corporate crooks to rob us blind. We deserve it.

    -Gary
     
  2. Royce10

    Royce10 TS Member

    Joined:
    Jan 29, 1998
    Messages:
    113
    easier.
     
  3. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Thank you, Royce 10. I replaced my link w/ yours.

    -Gary
     
  4. smsnyder

    smsnyder Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    4,830
    Futhermore, they stuck many people with worthless stock that went to nothing
     
  5. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Yeah, but since they went on welfare anybody who buys GM stock deserves what they get.

    -Gary
     
  6. Recoil Sissy

    Recoil Sissy Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,647
    Gary:

    Actually, anyone still owning General Motors stock when it went bankrupt got what they deserved.

    As for Gub'ment Motors, I avoid thieves and low lifes when I have a choice. I suggest others do the same.

    Earl and all:

    The owners of pre-bankrupt GM common stock are the one group without a legitimate complaint.

    Common stock of every company carries substantial risk. People that don't understand those risks or can't afford to lose shouldn't be a shareholder. That statement was particularly true of pre-bankrupt GM.

    GM had been profoundly troubled for years. Long before it went belly up, any shareholder that wanted out had ample opportunity to get out. Only speculators and the monumentally naive were still in the game at the end. A properly functioning market place took them out and it was completely predictable.

    GM bond owners were in a totally different situation. As owners of senior secured debt, their investments were backed by hard assets. Unlike share holders, bond owners had a legal 'first claim' on the value of those assets. Unfortunately, this group was simply but surely swindled out of their investment by a socialist president.

    The only group left largely intact was the UAW. Obumble used money confiscated from bond owners and taxpayers to make a disgraceful quid pro quo payoff for UAW votes delivered in the 2008 election.

    Obummer's PAYOFF FOR VOTES mentality continues with the current $4,000 bonus for each hourly employee. (Guess which UAW represents Gub'ment Motors hourly employees??)

    The good new is this: taxpayers own 500 million shares of Gub'ment Motors. The price per share need only appreciate $16.71 (46%) from today's $36.29 closing for tax payers to get our original UAW bailout money back.

    However, in spite of the "remarkable turnaround" on which the bonuses were justified, Gub'ment Motors hasn't turned a profit or paid a dividend since it came out of bankruptcy.

    Unfortunately for taxpayers, companies that don't make money or pay dividends rarely appreciate in value.

    sissy
     
  7. Brian in Oregon

    Brian in Oregon Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    25,254
    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    I never did find out if the people who were in the process of returning their defective GM vehicles under various state lemon laws ever got their original lemon back or their replacement vehicle? Some were left holding the bag (as in loan) and had no vehicle to show for it.
     
  8. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Recoil Sissy:

    To the contrary -- the Propaganda Ministry of the US Government would have us believe that GM is suddenly quite successful and profitable. They're even propping up the ridiculous failure of an "all electric" car -- the VOLT -- which happens to not be all electric and has a price double the original intent, despite being subsidized by dollars which were basically stolen from the taxpayers with the blessing of government. All the while the President of the US was basically doing TV commercials promoting the POS.

    How would you like to work for Ford while all this corruption and theft was happening and making it harder for a legitimate business to operate?

    Let me look out the window... Is this still America?

    -Gary
     
  9. b12

    b12 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    3,049
    What the heck. They no most dumbass americans are not paying attention of what going on. Also the people that don't know and you try to tell them look at you thru zombi eyes and go back to stairing at their cell phone.
    The only person that has any guts and says it as it should be is Donald Trump. At least if this country goes down it will be fighting with Trump and not giving it away with OBumass. Bill
     
  10. Recoil Sissy

    Recoil Sissy Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,647
    Gary:

    You asked, "How would you like to work for Ford while all this corruption and theft was happening and making it harder for a legitimate business to operate?"

    It's a good question and illustrates the sort of "market distortions" and "unintended consequences" that happen when government interferes.

    IMAO, partisan political meddling should NEVER replace merit in determining economic winners and losers. Of course, lib dems and socialists believe imposing their "wisdom" on the marketplace is the ONLY way to go. It is part and parcel of confiscating money from the productive members of society to purchase votes from slackers and layabouts.

    I vote at the ballot box every election. I also vote with my feet and wallet. I never vote for lib dem socialists and I'll never own a Gub'ment Motors vehicle. They are in fact, two corrupt peas in one corrupt pod.

    sissy
     
  11. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    Sissy:

    I lean Libertarian, so of course I agree with you regarding government meddling. But isn't t alarming how apathetic and ignorant the average American is about what General Motors and the government did, and all its implications? B12 is right -- so many people are like brainless zombies these days, especially when it comes to high level issues that will affect America's future. It's shameful, really.

    -Gary
     
Thread Status:
Not open for further replies.