Results 1 to 6 of 6

Thread: U.S. Hurries to Sell GM Stake(edited)

  1. #1
    Sage
    Hicup's Avatar
    Join Date
    Oct 2009
    Location
    Rochester, NY
    Last Seen
    12-07-17 @ 03:18 PM
    Gender
    Lean
    Very Conservative
    Posts
    7,846

    U.S. Hurries to Sell GM Stake(edited)

    ~ EXCERPT ~

    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.


    (Excerpt) Read more at ... WSJ


    --------------------------------------------------------------------------------

    Sooo.. Well that's that then..


    Tim-
    Last edited by Redress; 04-20-11 at 05:14 PM. Reason: Changed title to match source article.
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

  2. #2
    User
    Join Date
    Apr 2011
    Last Seen
    05-22-11 @ 10:02 PM
    Gender
    Lean
    Other
    Posts
    18

    Re: U.S. Hurries to Sell GM Stake (taxpayers get hosed)

    Quote Originally Posted by Hicup View Post
    Sooo.. Well that's that then..


    Tim-
    I thought this was going to be such a great deal?

  3. #3
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    Today @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    Re: U.S. Hurries to Sell GM Stake (taxpayers get hosed)

    Quote Originally Posted by ECU_Drummer View Post
    I thought this was going to be such a great deal?
    So the UAW can buy low, right?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  4. #4
    Sage
    Ikari's Avatar
    Join Date
    Dec 2006
    Location
    Colorado
    Last Seen
    12-08-17 @ 01:05 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    54,124

    Re: U.S. Hurries to Sell GM Stake (taxpayers get hosed)

    Quote Originally Posted by Hicup View Post
    Sooo.. Well that's that then..


    Tim-
    Corporate capitalism is such a wonderful thing, no?
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  5. #5
    Guru
    Councilman's Avatar
    Join Date
    Apr 2009
    Location
    Riverside, County, CA.
    Last Seen
    11-04-11 @ 10:16 PM
    Gender
    Lean
    Conservative
    Posts
    4,454
    Blog Entries
    10

    Re: U.S. Hurries to Sell GM Stake (taxpayers get hosed)

    Quote Originally Posted by Ikari View Post
    Corporate capitalism is such a wonderful thing, no?
    Yes if the system had been allowed to work GM would have gone belly up or file Bankruptcy and sunk or swim on their own at no cost to us, and the Corp. may have been able to renegotiate with the UAW or give them and ultimatum.

    The system needs to be left alone and sorry if it fails from time to time.

    I blame Unions for a lot of it and poor Management and over Government Regulations and taxes for the rest.

    Since I retired I find I can live with a lot less than I thought, and I'm doing just fine. without having to pay a Union to intimidate a boss and spend millions on Liberal fools, and thugs, like Obama, and the protesters we saw over the week end. How Hateful can you get?

  6. #6
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: U.S. Hurries to Sell GM Stake (taxpayers get hosed)

    wow, 3 pinochios

    from wapo's factchecker

    on the issue the slasher wants most to run victory laps around, his rescue of the entire auto industry

    today:

    With some of the economic indicators looking a bit dicey, President Obama traveled to Ohio last week to tout what the administration considers a good-news story: the rescue of the domestic automobile industry. In fact, he also made it the subject of his weekly radio address.

    We take no view on whether the administration’s efforts on behalf of the automobile industry were a good or bad thing; that’s a matter for the editorial pages and eventually the historians. But we are interested in the facts the president cited to make his case.

    What we found is one of the most misleading collections of assertions we have seen in a short presidential speech. Virtually every claim by the president regarding the auto industry needs an asterisk, just like the fine print in that too-good-to-be-true car loan.
    President Obama's phony accounting on the auto industry bailout - The Fact Checker - The Washington Post

    fair use prevents my copying the pinochios and wapo's corrections

    the "misrepresentations" called out by wapo's factchecker were:

    chrysler repaid every dime it borrowed from the taxpayers during my presidency---6 years ahead of schedule---and this week's deal with fiat will leave the company in 100% private hands

    the big 3 are all hiring faster than any time since the 90's

    and: gm plans to hire all workers laid off during the recession

    wapo also calls "a strawman," the slasher's assertion that the alternative to his and bush's bailouts was to do nothing

    how i've come to loathe that word, strawman

    y'know, around here

    so many followers, so few leaders

    of course a person like myself would naturally note wapo's tossing of terms like "weasel words" and "chicanery"

    look, i don't believe wapo anymore than you do

    i think the larger point is---the slasher has evidently lost and is continuing to lose a certain important portion of his most elitist base

    i mean, to call him a liar

    and on this, his prettiest plank

    well, as always, it is what it is

    wapo also seems to find it worth mentioning to report that 46% ownership of gm belongs to the uaw

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •