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Thread: GM's return to top continues as it rejoins S&P 500

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Visbek View Post
    Domestic oil and energy production has, in fact, increased during Obama's term, while imports have dropped.

    If his goal was to kill the US oil industry, he did a pretty shoddy job of it.
    The invrease in production has nothing to do with Obama's policies. You can thank Bush for that.

    Drilling is the job creator, not production
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    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Visbek View Post
    Domestic oil and energy production has, in fact, increased during Obama's term, while imports have dropped.

    If his goal was to kill the US oil industry, he did a pretty shoddy job of it.
    Are you saying this was a specific policy of Obama's ?

    Most of the new production comes from shale and fracking, two things Obama's been trying to shut down since he's been in office.

    So to imply that it's occurence equates to his election is dishonest and misleading.
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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by pbrauer View Post
    Without the help, first from President Bush, then President Obama GM would likely be gone now.

    General Motors is rejoining the club, the rarified air of the Standard & Poor's 500.

    It's a dose of good news not only for GM's comeback story, but for stockholders who have seen a modest stock price bump from the milestone.

    Standard & Poor's announced that GM, which reigned as the biggest company in the index from 1927 to 1958, will be back in after the close of trading on Thursday. The news is sure to buoy the mood at GM's stockholders' meeting the same day. And it will mark another milestone since GM filed for bankruptcy reorganization in 2009 and, as a result, was kicked out of the S&P 500 slot it had held since the index began in 1925.

    The Detroit-based global automaker will rejoin at 130 among the 500 companies on the list ranked by the value of their shares available for trading, or float. It replaces Heinz, which is out because of its acquisition by Berkshire Hathaway. Financial services provider American International Group, which, like GM, received government assistance to stay in business during the recession, also will rejoin.

    MORE: Treasury to sell 30 million shares of GM stock

    GM shares closed at $34.96 Tuesday, up 1.6%. In the past year, it has ranged from $18.72 to $35.48.

    "The GM team has been working very hard to earn the business of customers around the world and to win the confidence of investors, and rejoining the S&P 500 shows we're very much on track," said GM CEO Dan Akerson in a statement.

    GM's return to top continues as it rejoins S&P 500
    Geee....let's see, if they sold the shares at rounded up $35.00 a share that means taxpayers ONLY lost about $20.00 a share. Only the union employees got their pensions saved. Stockholders were illegally put behind the unions during the bankruptcy. Wooooohooooooooooo yep a bailout "saved" gm! lol Long live the low information voters.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Oceandan View Post
    Geee....let's see, if they sold the shares at rounded up $35.00 a share that means taxpayers ONLY lost about $20.00 a share. Only the union employees got their pensions saved. Stockholders were illegally put behind the unions during the bankruptcy. Wooooohooooooooooo yep a bailout "saved" gm! lol Long live the low information voters.
    Are you saying that if some buddy voted for Obama they're low information voters? I bet up would be singing a differently tune if you worked for GM when the **** hit the fan.

    Edit: speaking of low information voters GM's IPO was $33.00
    Last edited by pbrauer; 06-08-13 at 01:29 AM.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by iacardsfan View Post
    While that might be true in a sense, think about the jobs the government saved, and the faith in the government to keep major corporations afloat in a time of need. Who knows what would have happened to the American car market if GM went under. Do we simply import and lose all manufacturing jobs? While I agree monetarily that the government has not broken even yet the physiological boost GM's recovery has given the American manufacturing industry is something that cannot be priced.
    well first and foremost for me its unconstitutional.

    and why do people get mad when Washington bails out banks, but don't when they bail out GM, the government is not suppose to bail anyone out.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Oceandan View Post
    Geee....let's see, if they sold the shares at rounded up $35.00 a share that means taxpayers ONLY lost about $20.00 a share.
    It's actually not really news that the government will lose a bit on the bailout. Again, the alternative to exiting early is the government holding onto GM stock for years. Either option has its downsides and will draw criticism.

    Meanwhile, about a million decent-paying jobs were saved. Let's say the average auto industry worker nets $50,000 a year, and the average tax rate is 13% -- let's cut that to 10% to account for deductions. So, keeping those people employed produced $5 billion in federal tax revenues alone. It also prevented them from requiring unemployment insurance, food stamps, welfare, disability, early retirement or other entitlements. And of course they pay sales taxes and real estate taxes to the cities and states, and their purchases have multiplier effects....

    Of course, it would be better if the bailout broke even. But overall, it doesn't strike me as a terrible move, assuming the companies have actually gotten on track. (Not an easy task during a major recession and a slow recovery.)


    Stockholders were illegally put behind the unions during the bankruptcy.
    No, they weren't.

    Stockholders always get wiped out in a bankruptcy. They are officially the owners of the company, which means they are the ones who owe the creditors.

    The unions, by the way, made numerous concessions leading up to and as a result of the bankruptcy. Eye and dental coverage were axed. New hires are paid at almost half the wages as before ($17/hr instead of $29/hr), and they also get 401(k)'s instead of pensions. They no longer have guaranteed annual raises; they now get profit sharing, so if the company is not profitable, they don't get a raise or bonus. The "job bank" -- where union employees who were temporarily laid off would get paid regardless -- got axed. Strikes have been banned. The stock received by the UAW is non-voting, and because of that setup, the companies cut their health care obligations to pensioners by 50-70%.

    They got to keep their jobs, and pensions didn't get demolished. But they hardly came out unscathed.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by pbrauer View Post
    Did you read it?
    I guess you missed this part of the site I quoted. Not only was the trillion dollar stimulus a complete failure, the "shovel ready" part of the stimulus that Obama promised never happened.

    But the stimulus ultimately failed to bring about a strong, sustainable recovery. Money was spread far and wide rather than dedicated to programs with the most bang for the buck. “Shovel-ready” projects, those that would put people to work right away, took too long to break ground. Investments in worthwhile long-term projects, on the other hand, were often rushed to meet arbitrary deadlines, and the resulting shoddy outcomes tarnished the projects’ image.


    Lets try this

    Obama Jokes at Jobs Council: 'Shovel-Ready Was Not as Shovel-Ready as We Expected' - Fox Nation
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by pbrauer View Post
    Are you saying that if some buddy voted for Obama they're low information voters? I bet up would be singing a differently tune if you worked for GM when the **** hit the fan.

    Edit: speaking of low information voters GM's IPO was $33.00
    Yeah, unions and Obama could care less about stockholders and bond holders and the tax payer as long as they get theirs. Liberals have turned this country into a society driven by entitlements, nanny state and freebies. In the case of GM union members are "entitled" above anyone else. GM should have been left to fail, but no, unions are entitled to their entitlement, nanny and freebies, all at the expense of others. Shareholder, bond holders and the good old poor tax payer.
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by pbrauer View Post
    This is silly, what I said here at DP has no bearing on whether it was a bribe. And to imply the stimulus package was about shovel-ready jobs is clearly wrong.

    Quote Originally Posted by Born Free View Post
    Quote Originally Posted by pbrauer View Post
    Did you read it?
    Quote Originally Posted by Born Free View Post
    I guess you missed this part of the site I quoted. Not only was the trillion dollar stimulus a complete failure, the "shovel ready" part of the stimulus that Obama promised never happened.

    But the stimulus ultimately failed to bring about a strong, sustainable recovery. Money was spread far and wide rather than dedicated to programs with the most bang for the buck. “Shovel-ready” projects, those that would put people to work right away, took too long to break ground. Investments in worthwhile long-term projects, on the other hand, were often rushed to meet arbitrary deadlines, and the resulting shoddy outcomes tarnished the projects’ image.


    Lets try this

    Obama Jokes at Jobs Council: 'Shovel-Ready Was Not as Shovel-Ready as We Expected' - Fox Nation
    My point was the amount dedicated to "shovel-ready" projects was so low (note the pie charts I provided) that it was incorrect to characterize the stimulus as all about "shovel-ready" projects. The opinion piece you provided back that notion up. I agree with the writer that the amount should have been much higher.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Born Free View Post
    Yeah, unions and Obama could care less about stockholders and bond holders and the tax payer as long as they get theirs. Liberals have turned this country into a society driven by entitlements, nanny state and freebies. In the case of GM union members are "entitled" above anyone else. GM should have been left to fail, but no, unions are entitled to their entitlement, nanny and freebies, all at the expense of others. Shareholder, bond holders and the good old poor tax payer.
    Obama cared about "Jobs" who spend their earnings and pay taxes.

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