Eat your vegetables!
Posted on 09/17/2012 8:57:48 AM PDT by Red Badger
CHICAGO (MarketWatch) -- The Treasury Department is resisting General Motors' push for the government to sell off its stake in the auto maker, The Wall Street Journal reports. Following a $50 billion bailout in 2009, the U.S. taxpayers now own almost 27% of the company. But the newspaper said GM executives are now chafing at that, saying it hurts the company's reputation and its ability to attract top talent due to pay restrictions. Earlier this year, GM GM -1.27% presented a plan to repurchase 200 million of the 500 million shares the U.S. holds with the balance being sold via a public offering. But officials at the Treasury Department were not interested as selling now would lead to a multibillion dollar loss for the government, the newspaper noted.
(Excerpt) Read more at marketwatch.com ...
U.S. Balks at GM Plan
Government Is Reluctant to Sell Auto Stake at a Huge Loss
LOVE IT...I have frequent opportunities to kill time in a Chevy Dealership.
Let the smack talk begin!!
They can’t attract top talent? Must take a lot of talent to screw on lug nuts on the assembly line, because they made sure that top talent was rewarded. BS. You made your bed and the Democrats have peed in it. Roll over and look for a dry spot.
Bailouts have consequences. I’ll never voluntarily give GM or Chrysler another dime now that Big Daddy Obama picked my pockets on their behalf. I’ve owned five GM vehicles, including three bought new. I traded in the final one a few years ago and I’m never buying another.
0bama’s govt gave $50 billion for 27% of GM
GM’s current market cap is $37.38 billion
this means...
the federal govt spent $50 billion dollars ...
for $10 billion worth of goods
(Romney camp should pick this up and run with it)
Eat your vegetables!
My friend just bought a Ford F150 because 0 owns GM. He has been a GM buyer for a long time.
Who would want them?
They had to tie steak pizzaiola around Chrysler’s neck to get the Italians to bite.
GM doesn’t get it. If Barry sells his shares then it wouldn’t be communism anymore.
Exactly. If GM dropped the Volt it would probably be the most high profile failure of something Obama championed. The Obama Admin cant have that so close to the election.
Yes it would.
The Unions would then be the majority shareholders......
“...therefore I will not be buying any GM products manufactured before 2009...”
I think you mean AFTER 2009?
“but it would be a disaster to sell it at the bottom of the market.”
Lots of analysis are predicting GM heading into bankruptcy again in the not-to-distant future. The current stock price might actually be a market high. By holding the stock so the Obammunists don’t have realize the loss, we taxpayers are likely to end up with nothing out of GM.
You are right. I was thinking ‘Before 2009’ was alright...........
This is right out of Atlas Shrugged. This is what happens in a world dominated by "partnerships" between government and business, aka "crony capitalism."
AS II hits the screens on 10/12/12.
General Motors may have an or plan for Obama.They can tell him if he won’t cut the ties they will shut down factories here and use the China plants.
General Motors may have an or else plan for Obama.They can tell him if he won’t cut the ties they will shut down factories here and use the China plants.
You don’t threaten your largest shareholder, especially if they are from Chicago...........
Obama can’t allow it to be sold because of his mentoring by Frank Marshall Davis.
In short, it would be easy to picture Frank Marshall Davis, if he were president of the United States, nationalizing GM. Clearly, Davis would have favored some significant government action to manage and control General Motors. I’m certain he would have been pleased with Barack Obama’s actions with GM.
Depends on what mob is bigger.Chicoms are very powerful.
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