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Thread: More Democrats break with Obama on tax cuts

  1. #411
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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by liblady View Post
    why do you say that?
    Why do I say they failed?

    Paul Ingrassia: The Lessons of the GM Bankruptcy - WSJ.com

    Or why do I say they are in the process of failing all over again?

    1. They are owned and run by the US government, the Canadian government, and the UAW.
    2. They are pouring all their R&D into an electric car that very few people want to buy, and they are trying to sell said undesired car for double the cost of a comparable car.
    3. Nothing has changed fundamentally about the way the company is run (feel free to point me to some evidence otherwise).

    Or why do I say that unemployment compensation decreases motivation? Do I really need to answer that?
    Last edited by FederalRepublic; 10-08-10 at 01:12 AM.

  2. #412
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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by FederalRepublic View Post
    NEWSFLASH.....GM did fail, took our money, and are in the process of failing all over again. Good going.
    GM profit improves, setting stage for sale of shares - Aug. 12, 2010

    Huh.

    $1.3 billion profit = failing?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  3. #413
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    Re: More Democrats break with Obama on tax cuts

    aug 12: GM profit improves, setting stage for sale of shares - Aug. 12, 2010

    IPO key to repaying bailout

    The sale of shares will be a key event in the company's efforts to repay most of the $50 billion in federal assistance it received last year to continue operations before and during its bankruptcy reorganization.

    In May, when it reported first-quarter results, analysts estimated that the company would have a total market value of between $64 billion and $90 billion once it went public, a range that would allow Treasury to break even or make a profit on the bailout.

    But such a value is by no means certain. It would not only dwarf the current $42 billion market value of rival Ford Motor (F, Fortune 500), it would also be the most GM stock has ever been worth in its history. According to the the Center for Research in Security Prices at the University of Chicago, the company's greatest value was $61 billion in May 1999.
    sept 1: FT.com / Companies / Automobiles - GM sales dip casts shadow over IPO

    sept 4: UPDATE 2-Taxpayers likely to face initial loss on GM IPO-sources | Reuters

    sept 24: GM must sell for $134 a share for U.S. to recover investment

    oct 1: 27% Avoid Buying GM Cars Due to Bailout - Rasmussen Reports™
    Last edited by The Prof; 10-08-10 at 05:47 AM.

  4. #414
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    Re: More Democrats break with Obama on tax cuts

    Financial Times doesn't load

    It's not surprising there will be a loss on the face value of the GM bailout. But what you ignore is the saved costs in unemployment as well as tax revenue from the direct and indirect spending down the supply chain.

    From your fourth link:

    "Last week, in fact, Morningstar analyst David Whiston issued a preliminary estimate setting the shares' fair value at $134.

    "GM's cost structure is drastically improved," Whiston wrote in a Sept. 13 note to investors. "We think GM's earning potential is excellent because it finally has a healthy North American unit and can focus its marketing efforts on just four brands instead of eight. . . . We think it is critical for investors to know that GM now makes excellent car models as well as light trucks."

    GM's rising car sales suggest that the poll doesn't matter.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: More Democrats break with Obama on tax cuts

    gm had its worst august in decades

    ipo is principal to recouping taxpayers

    aint gonna happen

    54% told scott rasmussen (founder of espn) they're less likely to buy gm cuz the federal govt is majority owner

    sorry

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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by FederalRepublic View Post
    Yes, smart people talk to their enemies. Smart people also know who there friends are. Idiots treat their enemies like friends and their friends like enemies. Their enemies don't respect them and their friends begin to hate them.
    But saying anyone is doing that would be a complete inaccuracy, a complete falsehood.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by The Prof View Post
    more later than sooner, it appears

    Weak auto sales are latest sign of sluggish U.S. economy - Sep. 1, 2010

    "worst august since 1983"
    That time of the year, before the new models are available, there is always a letdown. "worse since 1983" really has no meaning without the actual numbers...

    Bad news with no tempered good news is just another political gotcha, and reveals who you are voting against.

    ricksfolly

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    Re: More Democrats break with Obama on tax cuts

    tell it to cnn

    The nation's top automakers reported disappointing sales Wednesday, resulting in the worst August for industrywide auto sales in 27 years.

    Industry sales also fell 5% from July levels. August sales typically outpace July, as deals become available on older models ahead of the fall introduction of new model year cars.

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    Re: More Democrats break with Obama on tax cuts

    Quote Originally Posted by Boo Radley View Post
    But saying anyone is doing that would be a complete inaccuracy, a complete falsehood.
    I'm not going to go dig up examples for you, but someone is doing that.

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    Re: More Democrats break with Obama on tax cuts

    Boo Radley;1059028279]Same as the other times they failed and we bailed them out. Bailing them out is not new. Nor limited to democrats bailing them. Only think obama did different is he tried to have a way to get our money back.

    And if he did not bail them out, again, the consequences would have been greater for him and democrats, just as it would have been had republicans been in charge. That's why no party would have "NOT" bailed them out.
    Yes, every automobile company should always be bailed out. That way we could all still be driving Willys, Packards, Nash Ramblers, Reos, Edsels, etc. The selection would be fantastic! I'm a Studebaker man myself.

    Maybe the US Government should finance all these companies to get back into business again in order to create still more jobs and make the unions even more powerful.. It really makes a lot of sense, doesn't it!

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