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Author Topic: Dummies Cheered obama's saving the car industry...BUT WAIT!!! what is this????  (Read 400 times)

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Offline Linda

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Dummies Cheered obama's saving the car industry...BUT WAIT!!! what is this????
« on: August 16, 2012, 11:42:32 AM »
General Motors Is Headed For Bankruptcy -- Again

http://www.forbes.com/sites/louiswoodhill/2012/08/15/general-motors-is-headed-for-bankruptcy-again/

Quote
President Obama is proud of his bailout of General Motors.  That’s good, because, if he wins a second term, he is probably going to have to bail GM out again.  The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company.  It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday.  This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

Thsi is what he is doing to the entire country and the DUmmies continue to cheer him....
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Offline wasp69

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Re: Dummies Cheered obama's saving the car industry...BUT WAIT!!! what is this????
« Reply #1 on: August 16, 2012, 11:53:57 AM »
I suspect he's going to have that load of worthless paper hit him on the head (repeatedly) during the months of September and October.
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Offline Wineslob

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Re: Dummies Cheered obama's saving the car industry...BUT WAIT!!! what is this????
« Reply #2 on: August 16, 2012, 12:49:49 PM »
That can't be true. GM's ads say they are having their best year ever.   :whatever:
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Offline DumbAss Tanker

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Re: Dummies Cheered obama's saving the car industry...BUT WAIT!!! what is this????
« Reply #3 on: August 16, 2012, 01:37:18 PM »
The US is never going to come close to getting its money back on that deal, and my skin crawls every time I hear a GM or Obamite flack pretending it paid off.
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