The Conservative Cave
Current Events => Politics => Topic started by: Linda on August 16, 2012, 11:42:32 AM
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General Motors Is Headed For Bankruptcy -- Again
http://www.forbes.com/sites/louiswoodhill/2012/08/15/general-motors-is-headed-for-bankruptcy-again/
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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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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That can't be true. GM's ads say they are having their best year ever. :whatever:
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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.