Government to shed GM stake, large taxpayer loss likely

Posted in the Minneapolis Forum

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coptic

Saint Paul, MN

#1 Dec 19, 2012
I don't think the union workers of the rust-belt states (that helped put Obama in office) mind one bit that the taxpayers lost $49.5 billion with this plucky little bailout.

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#2 Dec 19, 2012
I want my money back.

Since: Sep 11

Rogers, MN

#3 Dec 19, 2012
Corporate welfare is always a bad idea. No matter whose idea it is.
Bridgework

Lincoln, NE

#4 Dec 19, 2012
This is why the Obama GM bailout is so messed up. The US government bought GM shares at $40 per share from GM. Now GM is buying them back at $28 per share… Why again was this money not in a loan?
non-starter

Saint Paul, MN

#5 Dec 19, 2012
Bridgework wrote:
This is why the Obama GM bailout is so messed up. The US government bought GM shares at $40 per share from GM. Now GM is buying them back at $28 per share… Why again was this money not in a loan?
It wasn't in a loan because that would have been unfavorable terms for the UAW.
Consistent

Grantsburg, WI

#6 Dec 19, 2012
Somebody else do the math.

How much did it cost per Unionista Job for David Goebbel Axelrod to buy the Voters in Ohio, Michigan, Pennsylvania, and Wisconsin to Re Erect the Chicago Mob's Employee at the Teleprompter?
redeemer

Minneapolis, MN

#7 Dec 19, 2012
Bridgework wrote:
This is why the Obama GM bailout is so messed up. The US government bought GM shares at $40 per share from GM. Now GM is buying them back at $28 per share… Why again was this money not in a loan?
I thought that you was much smarter than them other losers GM just repaid back 28.7 billion back to the treasury a head of it's repayment agreement,it's stock increase by 1.69 making GM stock at 28.87 a share after the unions and the executives took a drastic pay cut also in the same bailout deal AIG and Goldman sachs are repaying their debts back to the people.
The USA is moving to the new Renaissance age.
Smart Liberal

Minneapolis, MN

#8 Dec 19, 2012
This is a red letter day for all Americans. GM buys back their stock. American tax payers no longer have to worry about GM. Obama was proven to be a prophet on how to revive the economy.
redeemer

Minneapolis, MN

#9 Dec 19, 2012
Smart Liberal wrote:
This is a red letter day for all Americans. GM buys back their stock. American tax payers no longer have to worry about GM. Obama was proven to be a prophet on how to revive the economy.
I'm glad that you don't hate america like the above loser smart liberal,you are a true America happy holiday to you.
Shrew Slew

Minneapolis, MN

#10 Dec 19, 2012
I'll not be buying any GM junk.
Smart Liberal

Minneapolis, MN

#11 Dec 19, 2012
redeemer wrote:
<quoted text>I'm glad that you don't hate america like the above loser smart liberal,you are a true America happy holiday to you.
Just shut the F up and don't bother me. You are a looser.
redeemer

Minneapolis, MN

#12 Dec 19, 2012
Smart Liberal wrote:
<quoted text>
Just shut the F up and don't bother me. You are a looser.
OK hehehehe!
Bridgework

Minneapolis, MN

#13 Dec 19, 2012
redeemer wrote:
<quoted text>I thought that you was much smarter than them other losers GM just repaid back 28.7 billion back to the treasury a head of it's repayment agreement,it's stock increase by 1.69 making GM stock at 28.87 a share after the unions and the executives took a drastic pay cut also in the same bailout deal AIG and Goldman sachs are repaying their debts back to the people.
The USA is moving to the new Renaissance age.
They did not repay, they bought stock at $12 less per share then we paid for it. The cost was $28.7 per share and they bought $5.5 billion of them. WTF are you talking about a Renaissance? How does the US treasury losing billion equal a Renaissance? You have got to get your head out of Obama's ass.
Bridgework

Minneapolis, MN

#14 Dec 19, 2012
Does anyone have any doubt that Redeemer is just another persona of the name changer?
redeemer

Minneapolis, MN

#15 Dec 19, 2012
Bridgework wrote:
<quoted text>
They did not repay, they bought stock at $12 less per share then we paid for it. The cost was $28.7 per share and they bought $5.5 billion of them. WTF are you talking about a Renaissance? How does the US treasury losing billion equal a Renaissance? You have w,got to get your head out of Obama's ass.
what is your source of information? please show me your link.I don' have time to prove how wrong and how foolish you are because it's late and we are having our co./firm party tomorrow,but why are you republicans trying so hard to make Obama and the country fail?when every effort that you guys attempt to do fail and backfired in your face,don't nothing ever stick,but if you are right I promise you that I will admit that you are right,so I don't trust the WSJ anymore so I will get a investor daily and see if you know what you're talking about.
redeemer

Minneapolis, MN

#16 Dec 19, 2012
Bridgework wrote:
Does anyone have any doubt that Redeemer is just another persona of the name changer?
I have two names only redeemer and my nickname sugar ray robinson
how about you? honestly is a virtue.

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#17 Dec 20, 2012
redeemer wrote:
<quoted text>what is your source of information? please show me your link.I don' have time to prove how wrong and how foolish you are because it's late and we are having our co./firm party tomorrow,but why are you republicans trying so hard to make Obama and the country fail?when every effort that you guys attempt to do fail and backfired in your face,don't nothing ever stick,but if you are right I promise you that I will admit that you are right,so I don't trust the WSJ anymore so I will get a investor daily and see if you know what you're talking about.
Now, this is precious. The guy who can not post a link to the BLS is demanding a link on something that is in the headlines of every financial publication and every newspaper in this country.

And you don't trust the Wall Street Journal? Sure. They make up stories and are not to be trusted. OK, let's use that financial bible for all of Wall Street, the Huffington Post. Do you trust the Huffington Post?

Here's your link: http://www.huffingtonpost.com/2012/12/19/gene...

And here are a few quotes from the article:

"GM will buy the 200 million shares at $27.50 each, about an 8 percent premium over Tuesday's closing price of $25.49. The shares shot up more than 9 percent Wednesday to $27.91, the highest price of the year, before falling back somewhat."

"Breaking even would require selling the remaining 300 million shares for an average of about $70 each – more than double the current trading price."

"The government clearly waited until after the presidential election to unload the stake and close the bailout, which was a contested issue in the campaign between President Barack Obama and Republican challenger Mitt Romney. Yet the sale comes as U.S. auto sales are rising, and many analysts predict a higher GM stock price in the coming years."

"Under the deal, GM will spend $5.5 billion to buy back 200 million shares from the Treasury, with the sale closing before year's end. That will leave the government with 300 million shares, or a 19 percent stake, which it plans to sell during the next 12 to 15 months."

"When the government sells its last GM shares, the Treasury Department projects that autos will be the biggest money-loser of all the corporate bailouts connected to the Great Recession. The government already lost more than $1 billion on the bailout of Chrysler, which has repaid all its loans."

----------

Make sure you read the final paragraph above. "biggest money-loser" of any of the government bail-outs.

The Democrat Party is the party of big business. Don't let anyone try to tell you anything different.

“Liberty and Justice for ALL!”

Since: Jun 10

Bloomington, MN

#18 Dec 20, 2012
I'll tell you differently. The Republicans are the the party of big business, which is why the majority of billionaires supported Romney, not Obama, in the last election.

I'll also tell you that Smart Liberal posts lies every day of the week on Topix. You can believe a desperate crack whore before you can believe Smart Liberal.

AND I'll tell you that bailing out GM was worth every penny lost to the American ecoonomy.

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#19 Dec 20, 2012
Le Jumbo wrote:
I'll tell you differently. The Republicans are the the party of big business, which is why the majority of billionaires supported Romney, not Obama, in the last election.
I'll also tell you that Smart Liberal posts lies every day of the week on Topix. You can believe a desperate crack whore before you can believe Smart Liberal.
AND I'll tell you that bailing out GM was worth every penny lost to the American ecoonomy.
Well, well, well...look who shows under his own name for a change.

Why not steal my name again you friggin' loser? You are the most dishonest person on Topix.

What you said regarding business is complete BS. The Republicans are the party of small business. They are not the party of big business, that would be the Democrats. Example: Warren Buffett and Bill Gates.

Big business uses their clout with who ever is in office to buy favorable laws regarding the business climate to freeze out smaller competitors as with the Wall Street bail out.

There are very few independent small banks any more. It isn't because they were cash poor. It is because government regulations have prohibited them from being able to operate profitably and now the big banks are swallowing them all up.

As for the auto bail-out...The Huffington Post said it quite well. That will be the biggest money-loser of any of the government bail-outs.

You say it was "worth every penny lost" ???? WTF kind of logic is that? Smart people do not go into business to lose money. Government bureaucrats and union lackeys are the only ones saying this was an investment rather than a huge catastrophe.

What are you going to say when GM gets bailed out again? And then what will you say when they file for bankruptcy AGAIN?

redeemer

Minneapolis, MN

#20 Dec 20, 2012
Smart Liberal wrote:
<quoted text>
Now, this is precious. The guy who can not post a link to the BLS is demanding a link on something that is in the headlines of every financial publication and every newspaper in this country.
And you don't trust the Wall Street Journal? Sure. They make up stories and are not to be trusted. OK, let's use that financial bible for all of Wall Street, the Huffington Post. Do you trust the Huffington Post?
Here's your link: http://www.huffingtonpost.com/2012/12/19/gene...
And here are a few quotes from the article:
"GM will buy the 200 million shares at $27.50 each, about an 8 percent premium over Tuesday's closing price of $25.49. The shares shot up more than 9 percent Wednesday to $27.91, the highest price of the year, before falling back somewhat."
"Breaking even would require selling the remaining 300 million shares for an average of about $70 each – more than double the current trading price."
"The government clearly waited until after the presidential election to unload the stake and close the bailout, which was a contested issue in the campaign between President Barack Obama and Republican challenger Mitt Romney. Yet the sale comes as U.S. auto sales are rising, and many analysts predict a higher GM stock price in the coming years."
"Under the deal, GM will spend $5.5 billion to buy back 200 million shares from the Treasury, with the sale closing before year's end. That will leave the government with 300 million shares, or a 19 percent stake, which it plans to sell during the next 12 to 15 months."
"When the government sells its last GM shares, the Treasury Department projects that autos will be the biggest money-loser of all the corporate bailouts connected to the Great Recession. The government already lost more than $1 billion on the bailout of Chrysler, which has repaid all its loans."
----------
Make sure you read the final paragraph above. "biggest money-loser" of any of the government bail-outs.
The Democrat Party is the party of big business. Don't let anyone try to tell you anything different.
I did give you the correct link to DLS,do you have to lie about everything that does'nt fit into your negative narrow narrative,secondly
I admitted to bridgework that I wasn't really sure what the govt and GM agreement was and that I would research the subject today,but what I do know is that GM and Chrysler are profitable now and thousands of americans are back to work which is an tangible gain to our economy,also that Toyota has been fined for selling unsafe auto's in the u.s market,and that BP still have millions if not billions of fines that they must pay to the u.s but what's really bothering me is that I made a wager that you would kick crassus as,but now I have second thought,I feltsorry for you since you had to run and hide from the bully abuse,you spoke up for yourself and he plastered you manhood all over the web yesterday,where were you hiding at yesterday?

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