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Thread: GM Pays off its Bailout Loans

  1. #21
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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Middleground View Post
    Yet the irony is that the government had to bail out the banks, too.

    Seems like GM is finally getting it's act together, though it seems like the banks are not.
    I suppose this is because those banks have to put up with those crocked unions. Wasn't that the reason GM was broke? Truth is, it wasn't the unions, or the sorry cars, or the management, that got GM in trouble, it was 10 years of republican policies that GM, along with most every other company, state, city, and person in the country couldn't take. Thank God their raign of terror is over. Thanks, Obama for saving an American icon. Do the best you can to pick up the rest of the pieces of America now that the Bulls are out of the china closet.
    Last edited by jacksbrat; 04-22-10 at 12:00 AM.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by F107HyperSabr View Post
    MoPar will never be up in he top three ever again but I wish them well and hope that they will become profitable again.
    Well, I will not ever buy another Chrysler product. Over the ten years I owned my Caravan, I put in 1/2 again the purchase price to maintenance and repair. It was built to break down.
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  3. #23
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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by washunut View Post
    Not really. Most of what we gave to GM is now called equity so let's not ahead of ourselves. Also there is a huge loan to GMAC which we were told had to be bailed out along with GM.

    Very doubtful the GMAC loan will be fully repaid or that we will make money on the GM equity.

    The only part of the deal which made the country money is the one Obama and team like to berate, the banks.
    What I'm wondering is if the US taxpayer will be picking up the tab for all the GM retirement pensions and other benefits. Any idea? It is my suspicion that this will be the case. It's the same thing that's breaking some of the states, and I think I remember hearing it was a major problem for GM months ago when all this started.
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    User jacksbrat's Avatar
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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by lizzie View Post
    What I'm wondering is if the US taxpayer will be picking up the tab for all the GM retirement pensions and other benefits. Any idea? It is my suspicion that this will be the case. It's the same thing that's breaking some of the states, and I think I remember hearing it was a major problem for GM months ago when all this started.
    You mean like the United Airline workers that got dumped on to the tax payers?
    The truth is, I also receive a check from the tax payers by way of PGBC. I'm not a revious United airlines worker, but the company I worked and paid into a retirement fund got stolen by Reaganomics and I now get a retirement check from the government.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by BmanMcfly View Post
    Not sure if this is quite how it works, but if the government bought 43Billion of equity shares + a 7billion $ loan... technically they have repaid the loan, even though they still have to 'mature those equity shares... does that make sense??

    Like you said about accounting tricks... same types of tricks that land those CEO's multi-million dollar bonuses even while they are going under.
    It doesn't change the fact 43 billion dollars of taxpayer money is owed.

    They are far from paying it back.

    Anyone who sees this as the conclusion of their loan is a sucker.
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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by jacksbrat View Post
    You mean like the United Airline workers that got dumped on to the tax payers?
    The truth is, I also receive a check from the tax payers by way of PGBC. I'm not a revious United airlines worker, but the company I worked and paid into a retirement fund got stolen by Reaganomics and I now get a retirement check from the government.
    It sounds like your former employer didn't have the funds to cover your retirement benefits.
    It also seems, to me at least, that they should of never promised you something they couldn't deliver on.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Harry Guerrilla View Post
    It sounds like your former employer didn't have the funds to cover your retirement benefits.
    It also seems, to me at least, that they should of never promised you something they couldn't deliver on.
    We did until a junk bond shiester stoled the retirement fund. We went from millions in the black to millions in the red over night because of a hostile buyout proposal, thanks to Reagonomics..

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by jacksbrat View Post
    We did until a junk bond shiester stoled the retirement fund. We went from millions in the black to millions in the red over night because of a hostile buyout proposal, thanks to Reagonomics..
    That isn't the fault of anyone but the pension manager/s.

    Putting retirement funds in less than Class A bonds in incredibly reckless.
    He should of been sued and thrown in jail for violated his fiduciary duty.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    óAdam Shepard

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Harry Guerrilla View Post
    That isn't the fault of anyone but the pension manager/s.

    Putting retirement funds in less than Class A bonds in incredibly reckless.
    He should of been sued and thrown in jail for violated his fiduciary duty.
    No, we should have never elected a president that would pass such laws that made this kind of thievery possible. I'm sure the company thought they were doing everything right. Actually, our success was our downfall. Thank God the union insured our pension plan through the government, else all would have been lost.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by texmaster View Post
    It doesn't change the fact 43 billion dollars of taxpayer money is owed.

    They are far from paying it back.

    Anyone who sees this as the conclusion of their loan is a sucker.
    I agree with you... it does make for good publicity for anyone that doesn't take the time to read the fine print...

    "See, GM's not in bad shape, they already paid back on their loan."

    I'd put 70-30 against GM paying back the remainder within the forseeable future though.

    The nice thing about shuffling numbers is that you can use facts and figures to make whatever case you want to make.

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