The GM Bailout Was A Big Success. So ...

The GM Bailout Was A Big Success. So Why Doesn't Anyone Care?

There are 87 comments on the www.tnr.com story from Nov 1, 2010, titled The GM Bailout Was A Big Success. So Why Doesn't Anyone Care?. In it, www.tnr.com reports that:

General Motors made news twice this week. First it announced that it was investing $190 million in a Michigan factory that will build its newest Cadillac and, along the way, create 600 jobs.

Join the discussion below, or Read more at www.tnr.com.

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short trus micro bus

Claremore, OK

#3 Nov 1, 2010
whats good for gm is good for the country
YouHelpFixIt

Scottsdale, AZ

#4 Nov 1, 2010
So GM bailout was a success even though the government did not get it's money back, the stockholders took a bath, and the bondholders lost money, and GM lost market share, tens of thousands of jobs lost, dozens of plants closed, and over 1000 dealerships dumped?
Vote Tuesday

Powder Springs, GA

#5 Nov 1, 2010
YouHelpFixIt wrote:
So GM bailout was a success even though the government did not get it's money back, the stockholders took a bath, and the bondholders lost money, and GM lost market share, tens of thousands of jobs lost, dozens of plants closed, and over 1000 dealerships dumped?
GM is still a basket case. They lost 100,000 jobs and then created 600! What a laugh! Gm is still neck deep in debt and the only reasons they made money last quarter is because of cost cutting by putting even more workers on the street. Toyoto and Honda sales are down due to safety and quality problems and buyers switched to Ford and GM. That had nothing to do with the bailout, just a coincidence. Last week GM just quit building Pontiacs forever. That's not recovery!

“i hope we can change this!”

Since: Aug 08

usa

#7 Nov 1, 2010
Vote Tuesday wrote:
<quoted text>GM is still a basket case. They lost 100,000 jobs and then created 600! What a laugh! Gm is still neck deep in debt and the only reasons they made money last quarter is because of cost cutting by putting even more workers on the street. Toyoto and Honda sales are down due to safety and quality problems and buyers switched to Ford and GM. That had nothing to do with the bailout, just a coincidence. Last week GM just quit building Pontiacs forever. That's not recovery!
if THAT was a success, i wonder what the white house's idea of a fck up is?
a net loss of over 9,000 jobs, a HUGE burden to the tax payers and the bond holders take it up the old yazoo...
the ONLY ones that didn't get fcked were the union leaders.

yep...THAT'S how obama spells success!

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#8 Nov 1, 2010
carey529 wrote:
<quoted text>
if THAT was a success, i wonder what the white house's idea of a fck up is?
a net loss of over 9,000 jobs, a HUGE burden to the tax payers and the bond holders take it up the old yazoo...
the ONLY ones that didn't get fcked were the union leaders.
yep...THAT'S how obama spells success!
Probably the way GW Bush left our country.

You are describing the policy of Bush, and pinning it on Obama. GM crashed long before Obama came into office.

“I Love Outside.”

Since: Feb 08

Florida

#10 Nov 1, 2010
Mr_Bill wrote:
<quoted text>
GM crashed long before Obama came into office.
That's what happens when you build crap !!

Since: Dec 07

Location hidden

#13 Nov 1, 2010
600 jobs, what a joke.
frank miller

United States

#14 Nov 1, 2010
Contrary to Ford Credit lending only to vehicles, purchases, and or fleet/individual leasing, who did not get involved with about ~11,000,000 eventual sub-prime housing, office spaces, rental units building mortgage worthless, aka 1977 to 1989 Arizona Charles Keating, Ivan Boesky, Michael Milken Lincoln Savings & Loans equivalent volatile 'junk-bonds ratings' credit-default swaps REIT's, all coming home to roost as worthless FORECLOSURES in Summer/Fall of 2008 Meltdown, from Dow Jones of about 14,500 in late 2007, to crashing to despair ~7500 in late 2008; GM/GMAC partly thru their 'Ally' mortgage company did collaterize millions of sub-prime mortgage, with these worthless credit-default-swaps, for solid IRA's, SEP's, Roth's, Keoghs, and 401K roll overs to IRA, SEP, as 401K's NYSE/OTC real-wealth betting chips could not be pesimistically short-traded by ~9600 unregulated Hedgefunds, between 2001-2008!
Now GM/GMAC suffered huge losses with these credit-default-swaps backing both vehicles, and Housing/Commercial Real Estate loans; to the point of going into Chapter 11 bankruptcy; needing part of the Fall of 2008 $750 Billions TARP to stay afloat! It's stock sank to ~$.60/share in ~ February 2009, whence it had been ~$32/share max.in 2007!
F.M.
paul shykora ARTs

Calgary, Canada

#16 Nov 1, 2010
..HOGWASH...WE ''DO''Care...yada u...eh..
ZiaMiddleView

Santa Fe, NM

#17 Nov 1, 2010
The govt shouldn't be involved in propping up private businesses. It's part of the business cycle. Some one would have picked up the pieces of GM had it been allowed to die. As a footnote let me say too that I didn't support the bailout of Wall Street either. The govt should have taken them into receivership and sold off what they could. Of course the recession would have been far worse but in the long run it would have been better. It doesn't pay to reward failed business plans.
both sides

Pulaski, TN

#19 Nov 1, 2010
GM can work both sides of the gravy train because they get the car company bail out as GM and the banking bail out as GMAC.

There is another MASSIVE, I mean MASSIVE bank bail out coming so people better start studying up on that.

The former bank bail out was a drop in the bucket compared to these financial interests not being in possession of the promissory notes that are required to foreclose.

MASSIVE, I mean MASSIVE. This is going to be galactic.

It will also destroy Obama's presidential career because you know full well and up front that he will sign the yes paper.
frank miller

United States

#20 Nov 1, 2010
Continuation of my #14 post: Now both Ford/Ford Credit, and I think Chrysler {Chrysler was owned by Mercedes Benz} former stock sank to a $1.00/share in the same 'non-lending perod' in early 2009, from it's high of ~$15/share in 2007!
Ford/FordCredit stock who did not need 'bail-out' monies, from TARP $750 Billions, thus no Chapter 11 restructuring, is back up close to $15/share[$14.74/share] while GM/GMAC is still in Chapter 11, and it's stock is still around $0.60/share!
Now that GM/GMAC has paid back most of it's $Billions in *TARP 'bail-out', at around 8.2% interest, it should be out of Chapter 11 in early Spring 2011, everything else remaining constant.
*Most of the $750 Billions securitizations of also AIG/Goldman Sachs have been returned to the tax payers Treasury, as of last July 2010,$350 Billions had been paid back ~8.2% interest {$22 Billions dollars}, with as of last month according to the WSJ, another $300 Billions were also returned at 8.2% compound interest!
Note: One of the way GM/GMAC had to pay it's credit-default-swaps in 2009 bad bets, was to sell it's Freemont California co-Toyota/GM auto/truck assembly Plant stake, thus forcing it's total closure last May 2010!!
F.M.
frank miller

United States

#21 Nov 1, 2010
You confounded idiot anti-Obama racists/posters icon judges, the closing of the Toyota/GM state-of-the-art joint venture Freemont CA. auto/truck Plant in May 2010, because of all those worthless 'junk-bonds' ratings sub-prime credit-default-swaps cost California about 15,000 skilled 3 shifts/day hi-paying blue-collar machinists/tool and die makers/asembly jobs/careers/white collar
purchasing-agents, middle-management, engineers, maintenance personnel; along with the 10 to 1 ratio of subcontracting PARTS stakeholders {~another 45,000 jobs/careers, dealerships, and the closing of Service Sector small/large businesses such as Banks, barber-shops, beauty-salons, grocery stores, Industrial accident emergency clinics, real estate brokers, dwellings
housing the ~15,000 3 shifts/day workers, wives, families, MD's, Dentists, Trade Schools graduates, AND none of those bastards/bitches in Sacramento, did nothing about it including that Industry dumb-as-a-steam iron Republican Governor Arnold S.{After letting 3 shifts/day California icon Levi-Strauss jeans/apparel maker leave to China in 2000!!}
Maybe if that bragging ex. business-savy E-Bay flake CEO Meg Whitman wannabe Governor; had worked some deal with Toyota to let the Plant stay open until some restructuring, with all her $millions/$billions, rather than wasting them {$140 millions moronic TV campaign ads.}} since last March 2010, people may vote for her!!
F.M.
Government Motors

Boynton Beach, FL

#22 Nov 1, 2010
Ford Motor Company is rising to the top of the heap. GM and Chrysler can't match Ford's vision and they're both handicapped by the Democrats' restrictions and requirements under government control. Toyota and Honda suffered permanent public relations damage with their quality and safety issues. Ford is the only winner. Not only is Ford introducing dozens of new exciting vehicles they have leaped ahead with fuel economy developments while increasing horsepower at the same time. Ford's Six Sigma quality program makes it impossible to produce a workmanship defect in the assembly process.
Ford has dumped its non Ford brands and has quietly dumped its minority suppliers who consistently failed to produce quality parts on budget or on time. Diversity was a major failure for Ford for decades and now that's gone forever. That was one of the main advantages for US plants run by the Japanese, not being shackled to any real diversity requirements since by federal law being Japanese qualified as minorities.
rider

Marquette, MI

#23 Nov 1, 2010
odumba wrote:
<quoted text>don't worry - odumba promises that the all electric-hybrid chevy volt will make BILLIONS for gm! LOL!
You don,t have a clue.
Clueless Mr Bill

United States

#24 Nov 1, 2010
GM get bailed out with US tax dollar and makes a majority of it cars in Mexico, Canada and China

“i hope we can change this!”

Since: Aug 08

usa

#25 Nov 1, 2010
Mr_Bill wrote:
<quoted text>
Probably the way GW Bush left our country.
You are describing the policy of Bush, and pinning it on Obama. GM crashed long before Obama came into office.
what the hell are you talking about????...bush had ZERO to do with the decades of mismanagement and the production of shitty automobiles...obama, on the other hand, siezed control of the company, fcked the bond holders out of their investments, fcked the taxpayers by using OUR money to bail out those idiots and then gave control to the unions...

where do you get YOUR news?
mars?

not even plattershit will back up your idiotic assertion!

“i hope we can change this!”

Since: Aug 08

usa

#26 Nov 1, 2010
odumba wrote:
<quoted text>don't worry - odumba promises that the all electric-hybrid chevy volt will make BILLIONS for gm! LOL!
yes...and bill is poised to snatch up as much stock as he can!
(before his kids have him committed!!!)
LMAO!!!!!!!!!!
short trus micro bus

Claremore, OK

#27 Nov 1, 2010
hybryd sales are sluggish , even the secondary used market does`nt report much more attention than foot traffic
Aces High

Moncton, Canada

#28 Nov 1, 2010
Clueless Mr Bill wrote:
GM get bailed out with US tax dollar and makes a majority of it cars in Mexico, Canada and China
Don't forget though the Canadian govt gave GM $9.5 billion.

Not as much as the US govt's $52 billion, but a substantial amount considering GM's capacity up here.

Of the Cdn govt $9.5 billion bailout....$1.4 billion was considered a loan and has been repaid back.

Of the US govt $52 billion bailout....$6.7 billion was considered a loan and has been paid back.

I have no idea about the remaining parts of the bailout money that was were not considered loans and if they have paid back some or none

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