I'll gladly pay you Tuesday for a Bailout today. Wimpy or GM ??
It is fun to watch as the dummies high five and sing a few choruses of "How Great Obama Art" before a gleam of truth crashes it like the Hindenburg
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8188623
gulliver (1000+ posts) Wed Apr-21-10 12:21 PM
Original message
GM pays off its bailout loans
Edited on Wed Apr-21-10 12:22 PM by gulliver
http://money.cnn.com/2010/04/21/autos/gm_loan_repayment...
This is very good economic news. Dems should be taking their much-deserved credit for this. The article notes that the loans are not the whole story as we also bought up a bunch of GM with federal money. But this loan payoff is a big step in the right direction. Maybe their management has finally begun to move in the right direction. Dems, take a bow, IMO.
Hit the lights, cue the music, Take a bow Barry !!
Cresent City Kid (865 posts) Wed Apr-21-10 12:25 PM
Response to Original message
1. On bailouts in general
The "big" story is when the government hands out the money. We've been getting a lot of it back with little fanfare. Some people think we lost it all forever.
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Oh dear, someone must have lobbed one of those Organic Tomatoes!!
Name removed (0 posts) Wed Apr-21-10 12:38 PM
Response to Reply #1
2. Deleted sub-thread
Sub-thread removed by moderator. Click here to review the message board rules.
Don't fear dear reader, GM and Dear Leader have lots of supporters!!
B Calm (1000+ posts) Wed Apr-21-10 03:12 PM
Response to Reply #1
11. The greatest thing about this LOAN
it saved thousands and thousands of manufacturing jobs here in the United States!
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But wait, up pops yet another Ethiopian in the fuel source
Hannah Bell (1000+ posts) Wed Apr-21-10 03:15 PM
Response to Reply #11
12. yeah, non-union, $14/hr ones.
Edited on Wed Apr-21-10 03:15 PM by Hannah Bell
http://www.democraticunderground.com/discuss/duboard.ph...
the gov't colluded with gm to screw its retirees & workers.
May we quote you here Kentuck
kentuck (1000+ posts) Wed Apr-21-10 03:16 PM
Response to Original message
13. Shouldn't some loudmouth conservatives be apologizing ??
How many were on your TV ranting about that "socialist" Obama taking over the car companies. Well, it looks like they were wrong. Shouldn't they apologize for their inaccurate and inflammatory comments?
Well Shazzam, a pizza hungry noob utters some truth to stoopid.
leeloo (35 posts) Wed Apr-21-10 01:08 PM
Response to Original message
3. They have not paid off the loan,still owe $44 billion..n/t
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Drainbramaged says it all, the post is a laugh riot
DainBramaged (1000+ posts) Wed Apr-21-10 01:56 PM
Response to Reply #3
5. The US Government owns appx. $44 billion in stock
They paid off the loan, sorry to disappoint you.
But wait.....
Right back at ya drainbramage
leeloo (35 posts) Wed Apr-21-10 05:50 PM
Response to Reply #5
26. When stocks are sold later this,let's see how much they fetch.
Who is going to be stupid enough to buy stock in a company losing a billion dollars every month?.
If we recoup the $44 billion later this year,then i will agree they have paid back the loan..
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Aptly named, drainbramage doesn't know when he has been pawned
DainBramaged (1000+ posts) Wed Apr-21-10 09:39 PM
Response to Reply #26
28. I didn't ask you to agree to anything
move along nothing to see here, this isn't a thread about toYOYOta. PS, I bought stock in GM and Ford, sold them both and am waiting to buy both again. So I guess I and the thousands of other UAW members are stupid?
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Stoopid is as stoopid does. Drain Stoopid is as stoopid does.
leeloo (35 posts) Wed Apr-21-10 10:06 PM
Response to Reply #28
30. Wow you get grumpy when people disagree with you...PS
I just bought stock in Ferrari and married a supermodel..
leeloo (35 posts) Wed Apr-21-10 09:30 PM
Response to Reply #8
27. GM has not made a profit so far..Guess who paid off the loan?
The Taxpayer..
They borrowed it from another TARP program,one credit card paying off the other credit card scenario..
As the company is losing billions who would buy stock from them ??
OH lets borrow $44 billion more to buy stocks in GM,its a shell game...DUH
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Now how does this work?
dmallind (1000+ posts) Thu Apr-22-10 08:49 AM
Response to Reply #27
32. You don't need to make a profit to have cash. Cite your source. NT
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Who's mole is leeloo? Will that be a Loaded House with Anchovies?
leeloo (35 posts) Thu Apr-22-10 10:58 AM
Response to Reply #32
33. They don't have cash,they have our money...
Chief Says G.M. Is on Road to Profits
http://www.nytimes.com/2010/01/07/business/07auto.html
GM expects to show annual profit in 2011
The company's financial adviser, Evercore Partners, offered projections for GM's finances in its bankruptcy case based on several scenarios. It forecasts that GM will lose $17.5 billion this year before reaching a profit of $3 billion in 2011 before taxes, rising to $7.8 billion in 2014.
http://abcnews.go.com/Business/story?id=7764180&page=1
GM’s Whitacre Says He ‘Hopes’ to Report a 2010 Profit
http://www.bloomberg.com/apps/news?pid=20601103&sid=aiZ...
Google GM annual profits...
So if they have cash where do you think they got it from?
I will tell you, from us they are paying us back a small percentage of the loan we gave them..
Yeah but I still don't care it is them darn Freepers, yeah that's the ticket.
B Calm (1000+ posts) Wed Apr-21-10 03:55 PM
Response to Reply #21
23. I think it's lurking freepers unrec. this thread!
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Ok fine
NotThisTime (1000+ posts) Wed Apr-21-10 03:52 PM
Response to Original message
22. This is very good news....
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SmileyRose (1000+ posts) Wed Apr-21-10 09:41 PM
Response to Original message
29. They used stimulus money to pay off the loan
Big f**king deal.........
My, my, my. Kentuck, how say ye this kettle of fish?? I think it stinkith from the head down.