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GM bought back $10 billion in stock since 2015, double what job cuts will save
CBS News ^
| November 27, 2018
| Irina Ivanova
Posted on 11/28/2018 8:28:43 AM PST by C19fan
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To: Be Free
The U.S. bailed out GM to the tune of $49.5 billion (loans & stock purchases)...the $11 billion loss to taxpayers was on the sale of the stock (last batch sold in in 2013).
21
posted on
11/28/2018 10:38:27 PM PST
by
Drago
To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
When General Motors announced it was cutting up to 14,000 jobs and idling five automotive plants, it justified the massive cuts by citing long-term savings. The cuts would free up $6 billion in cash, for a net savings of $4.5 billion in cash by 2020. The move will "make General Motors more agile, resilient and profitable" while the economy's still revving, CEO Mary Barra told investors Monday. Wall Street seemed to believe her, with GM's stock rising nearly 5 percent and one analyst on the call congratulating her "on getting in front of the curve here."
With the federal rebate program for electric cars ending, thanks to the success of the Tesla Model 3, it's understandable that GM would scrap the Volt.
- General Motors proposed nationwide mandate for electric vehicles
- Tesla Sales Soaring, Competition Failing
- House Republican Proposing Carbon Tax This Week To Replace the Gas Tax
- Exxon Mobil signs on to Republican-led carbon tax proposal [2017]
- Death of gas and diesel begins as GM announces plans for 'all-electric future' [2017]
- GM is laying off thousands of workers, closing three plants, and ending production of the Chevy Volt
- Report: GM may kill Chevy Volt, Sonic and four other cars [2017]
- GM plans to launch 10 electric cars in China by 2020 [2017]
- GM to sell Chinese-built car in the United States for first time [2016]
- Days After Election, General Motors Announces 2,000 Layoffs in Ohio and Michigan [2016]
- JUST IN: Republican CEO Of General Motors Makes Stunning Presidential Endorsement (Hillary in 2016) [2016]
- GM's Tax Shelter-Another $16 billion not available to other car makers [Has Hillary condemned this?] [2016]
- Cadillac apologizes for casting call seeking actors for an 'alt-right (neo-Nazi)' role [2016]
- Paging Joe Biden: Yes, Osama bin Laden is still dead, and General Motors is alive...sort of
- General Motors Restructures
- Trump And The Border: The Troops And Tear Gas Show Gets Upstaged By General Motors
- 'This is the THANKS we get!' Trump warns General Motors he'll cut ALL its government subsidies in...
- Trump threatens to end subsidies to GM for electric cars over layoffs
- Shame on Trump for ordering General Motors to "put something else in"
- GM will no longer make these 6 cars
- GM to slash up to 14,000 jobs in North America
- General Motors plans to close Canadian assembly plant -TV report
- UAW Scandals Show Why Michigan Needs to Keep Workers' Right to Work Protections
- Chevy Blazer is coming back -- and it'll be made in Mexico
- Ford is basically giving up on US car business, and GM is not far behind
- Obama's Scandal-Free Delusion
- GM to build Texas supplier park, expects 850 new jobs [2017]
- General Motors fires 2,700 in Venezuela after plant closure: workers [2017]
- Venezuela seizes General Motors plant as property of the state [2017]
- GM halts operations in Venezuela after factory is seized [2017]
- General Motors auto plant in Venezuela seized by government, GM decries illegality [2017]
- General Motors Plans at Least $1 Billion in Fresh U.S. Investment [2017]
- Sarah Palin: But... Wait... The Good Guys Won't Win With More Crony Capitalism [2016]
22
posted on
11/28/2018 11:01:07 PM PST
by
SunkenCiv
(and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
To: SunkenCiv
With the federal rebate program for electric cars ending, thanks to the success of the Tesla Model 3, it’s understandable that GM would scrap the Volt.
...
I believe that only affects Tesla.
23
posted on
11/29/2018 1:44:57 AM PST
by
Moonman62
(Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
To: Moonman62
24
posted on
11/29/2018 1:57:51 AM PST
by
EVO X
To: Moonman62
Thanks, could easily be, Volt's a hybrid, isn't it.
25
posted on
11/29/2018 3:27:39 AM PST
by
SunkenCiv
(and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
To: Moonman62
https://www.fueleconomy.gov/feg/taxevb.shtml
Phaseout — The credit begins to phase out for vehicles at the beginning of the second calendar quarter after the manufacturer has sold 200,000 eligible plug-in electric vehicles (i.e., plug-in hybrids and EVs) in the United States as counted from January 1, 2010. IRS will announce when a manufacturer exceeds this production figure and will announce the subsequent phase out schedule (Plug-In Electric Drive Motor Vehicle Credit Quarterly Sales).
26
posted on
11/29/2018 3:29:47 AM PST
by
SunkenCiv
(and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
To: Moonman62
I watched a few more owner/driver vids regarding Tesla Model 3, outstanding information, honest, no witless koolaid drinking, and also no snarking. The $35K price though is only available to residents of Fantasyland, the standard range version works out to about $45K, and the fully tricked out, longer range version about $55K. The software is remarkable, helps plan long trips to take the “filling stations” locations into account.
2018 Monthly Sales Chart
https://insideevs.com/monthly-plug-in-sales-scorecard/
27
posted on
11/29/2018 3:42:12 AM PST
by
SunkenCiv
(and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
To: SunkenCiv
I think Tesla will eventually get below 35k for the Model 3. I look at what’s been done at SpaceX to bring down costs and it’s incredible. Tesla has already brought down costs, and there’s still plenty of room to do so. They are building cars in a “tent” which turned out to be a great idea. SpaceX’s next big rocket is currently being being built in a “tent” also.
I think the planned pickup truck is going to end up being Tesla’s big money maker and a huge headache for the Big 3.
28
posted on
11/29/2018 4:49:50 AM PST
by
Moonman62
(Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
To: Moonman62
There's talk about a lower-priced model based on the, hmm, Model X I think. There's also a couple more vids that showed up on the Roku YT app in the related vids, about the various electric models (some overlap, one had 7, the other had 10, if memory serves).
People are Buying Tesla Model 3, but Should You Buy a Chevy Bolt
29
posted on
11/30/2018 12:18:53 AM PST
by
SunkenCiv
(and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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