Skip to comments.The 99% Thatís Not You Gets a $7,000 Cash Bailout Bonus
Posted on 02/27/2012 5:15:44 AM PST by Kaslin
Hey, good news everybody.
Remember that $23 billion that the US government a.k.a. you- is never going to see back from General Motors?
Well, General Motors has done so well this year- in fact, they have enjoyed record-breaking $9 billion profits- that next week theyll be giving out $7,000 in bonus checks to 47,500 UAW workers who already make about $116,000 dollars per year in total wages and benefits (with about $58,000 of that in just wages and the rest in benefits).
Its good to be the 99%: You get a fat $7k bonus, plus $100k+ a year. Too bad GM is so broke that they cant afford to pay the US government back the $23 billion they still owe us. Maybe the next time they make record-breaking profits? I guess some get to be more 99% than others.
(Excerpt) Read more at finance.townhall.com ...
GM employees should be ashamed of themselves.
Should they be any more ashamed of themselves than bank execs whose banks got bailed out, and got big bonuses?
Look for the Union Label....then BUY an alternative.
They should be giving that 9 Billion back on payment of their loan.
The glowing MSM reports about this ‘success’ ignore this 23 B$. In fact I haven't heard either Romney or Santorum cite it yesterday when the MSM challenged them for being against the GM bailout. (Maybe it's the Michigan primary coming up). No wonder this bailout is now polling high in approval with no one making the case that TH does above.
What banks got bailed out and didn't pay it back to the taxpayer if they made a profit? Yes, they (the banks) were bailed out. I didn't lilke that either. But GM was given to the Union thugs to fulfill election promises. They still owe 23 BILLION DOLLARS to the taxpayer. Will you see the MSM cry foul for paying 7K each to those workers? NO!
That money and any profit being made belongs to the taxpayers as payment toward loan reduction. But we will NEVER EVER see it so long as the liberals are concerned.
BTW, socialist parasites bare NO shame. They firmly believe that others owe it to them.
You got that right. Unfortunately it won’t happen
Son-in-law just purchased his first non-GM vehicle despite a life long love of GM products. I hope more will follow his example.
BINGO! Like Santorum said, "You gotta take one for the team." But it's OK for Romney to give tacit approval. He's not "A Washington insider."
They both apposed the GM bailout, but Romney was for the TARP bank bailout which looks even worse.
Both were on the Sunday shows defending their position. Romney claims that Obama eventually followed his advice on bankruptcy after the bailout($$$$). But neither seems to have the guts to call out the $$$ the rest of the country has to pay back relative to national debt. They both want those votes.
I recall a Republican party of 1995 that actually articulated why running up national large deficits was bad.
47,500 UAW workers living better on the backs of Americans.
I traded my Ranger for a used Silverado last November. At the time I thought about your thought. Consoled myself that none of the transaction would wind up in GM's pocket.
I will wait to hear a defense of this from the ban all imports and only buy “made here” crowd. This debacle is a natural outcome of protecting any business. The problem isn’t GM or the UAW it’s the politically driven policy of protecting one class of voters over another.
In an earlier era the government would have just erected some import barriers which would have raised car prices. But the Big Three are global so that strategy would not work in this era. This time the government went the direct route and took our money from us and just gave it directly to them.
They get the bonus only if they give 50% of it back to the UAW PAC fund that is run by Obama’s Chicago Mob...
I’m sure my inability to afford a new vehicle (or about anything else) is exactly what is intended by our socialist betters... but if I am EVER in the position to do so for a second time in my friggin worthless life, it will NOT be a company I’ve already paid against my will. FUGM. FUBO.
No, just as ashamed, but if they are UAW then they should be just a bit more ashamed than the bank guys.
My thoughts EXACTLY. GM and Chrysler are dead to me now. I will never, ever, EVER buy a new car from them.
And, by the way, I got pasted on both bonds and common stock in the GM bailout. GM owe me a really nice car to make up just for the bonds.