Skip to comments.Obama points to progress in the US auto industry following rescue of GM, Chrysler
Posted on 10/13/2012 5:08:57 AM PDT by gotribe
President Barack Obama is hailing the rebound of the U.S. auto industry, pointing to progress since his administration rescued General Motors and Chrysler.
(Excerpt) Read more at washingtonpost.com ...
Non-bailed out Ford v. GM v. S&P 500
Any mention of the billions still owed the American taxpayer?
My money was stolen to bail out the UAW
The best post I have seen on this subject was made yesterday where it was noted there is a Volt sitting at the Embassy in Panama because there is no charger.
His continued mention of the auto bailouts is one of the big things that’s causing him to drop in the polls! People hated the bailouts, especially when retirees and creditors were thrown under the bus for the sake of the UAW!
Not to mention the fact that Detroit has such a negative national image: the auto bailouts are popular in places like Detroit, Chicago, and Cleveland, but they are a negative for him everywhere else!
People need to be reminded that the bailouts did not keep GM out of bankruptcy and GM has less market share and more debt now than it did before!
The thing Obama keeps pointing to as a ringing success is an abysmal failure.
But hey, keep talking it up Obama, you moron: seeing you self-destruct is the best revenge of all!!!
GM recovered? Chrysler recovered? Horseshit.
In my little town, there are three dealers. A heretofore very successful Chevrolet Dealer, an AMC/Chrysler/Jeep Dealer (famous throughout the southeast US), and a Ford Dealer.
If one were to drive by all three (located nearly next door to each other), he would be struck by the dirth of cars/trucks/SUVs at two of them. Guess which ones.
No Chebby Volts, Cruzes, etc. No Magnums, 300s, etc...... only utilities, SUVs and trucks, and damned few of those at that. Acres and acres of lot space; each vehicle with it’s own large grazing space, but they prefer to huddle together for safety.
The full lot? Ford....doing damned well.
Probably just as well....batteries are probably contaminated by the sea air anyway...
One of the first things this clown needs to stand trial for after he is thrown out of office is the unlawful way he handled the GM bailout by putting his union buddies at the head of the line and moving senior secured bondholders to the back of the line.
Ask the former GM bondholders how all this worked out for them. Ask the former dealers who happened to be Republicans how it worked out for them. The bankruptcy laws were set up to resolve stuff like this. GM, the! bondholders and dealers would have been better off with a proper bankruptcy plan. But no. Barry picks the losers.
I wonder how many government pension plans, teacher pension plans and 401-Ks were/are invested in GM?
The loans given to Chrysler were at 20%+ interest rates....something this administration would call criminal if done in the private sector.
They gave control of Chrysler to Fiat for nothing providing Fiat builds a 40 mpg car and buys that control from the UAW.
Chrysler refinanced the loans, paying the taxpayers back in full. The near $2 billion that was left on the books of “Old Chrysler” will never be recovered as gov’t morons set it up that way.
My Father used to say to me and my Brother when we would ask for something expensive, you can wish in one hand and $hit in the other and see which one fills the fastest. Same applies to Barry.
GM will be in real bankruptcy within a year.
They measure the wrong things with GM cars. Who cares about MPG, miles per gallon? The real measure is DPUM, dollars per union member. Now that’s important!