GM pays off its bailout loans

#101
#101
truefan said:
Back to the thread topic...Why is it not a good thing GM is paying back some of their bailout money? For some of you on the far right, I know it doesn't matter so don't try explaining your disdain for the payback with some BS rhetoric. Who cares about the semantics and whether or not they are actually paying back all of the money right now? Hey, I don't care for the UAW either, but to think they could have started assembly lines up in a timely fashion with a new work force is naive. And to correct some of you, all those assembly workers aren't unskilled labor.
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It's not a bad thing that they are paying back the loan.

It is misleading for them to imply they are paying back what the government/we put in. They are not and likely will not.
 
#102
#102
volinbham said:
It's not a bad thing that they are paying back the loan.

It is misleading for them to imply they are paying back what the government/we put in. They are not and likely will not.
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I agree, but I do like the direction the company is going right now.
 
#104
#104
truefan said:
I agree, but I do like the direction the company is going right now.
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What do you like specifically about the direction they are headed?

My concern is that a major factor in their needing a bailout to begin with (the union) has been given more influence in the company. It seems like rewarding and even encouraging incompetent behavior IMO.
 
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#105
#105
truefan said:
It's is none of your business where my wealth was accumulated. Trust fund baby? LOL. There was a family business that was bought out by a Fortune 100 company nearly twenty years ago. That is all you need to you know.

Who said anything about not paying taxes? There you go again. YOu can't help yourself. You make assumptions that are nowhere near the truth.
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i see so a family business that you obviously didn't build sold out and you got money and you AREN'T a trust fund baby?

and if you aren't avoiding taxes then what is the point of exploiting said "loopholes."
 
#106
#106
#107
#107
truefan said:
Back to the thread topic...Why is it not a good thing GM is paying back some of their bailout money? For some of you on the far right, I know it doesn't matter so don't try explaining your disdain for the payback with some BS rhetoric. Who cares about the semantics and whether or not they are actually paying back all of the money right now? Hey, I don't care for the UAW either, but to think they could have started assembly lines up in a timely fashion with a new work force is naive. And to correct some of you, all those assembly workers aren't unskilled labor.
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GM lost $600 mil this year. this isn't a step in the right direction. they gave them TOO MUCH MONEY just so that they could pay it back at a later date and not make it look like it what it was. . . . a payout to the unions and a bad investment of our tax money.
 
#110
#110
droski said:
i see so a family business that you obviously didn't build sold out and you got money and you AREN'T a trust fund baby?

and if you aren't avoiding taxes then what is the point of exploiting said "loopholes."
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Do you always read what someone writes and then fabricate an interpretation of what they are really saying so you can sound as though you know what's going on??

How do you know I "obviously" didn't help build anything? A trust fund baby is someone who has money set aside for them when they are very young or before they are born. This isn't in the same ballpark with that. I was already an adult when the company sold.

Best thing for you to do is STFU. You just can't stand being clueless so you make it up as you go, Mr "I make 5 times your salary".

I realize you have nothing to offer concerning the automotive industry, but please get back to the topic. I realize your posts concerning such might be 100% wrong, but at least they will be on subject
 
#112
#112
T-TownVol said:
Did you read any of the comments below the article. There are some on there that are about as smart as some on VN.
"Who cares where the money comes from"....."6.7 million is 6.7 million paid back"......brilliant
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sort of like those women in line to get some of that "free Obama money". when asked where the money was coming from, one of the women replied, "I don't know, from his stash."

one only needs to look at Detroit and post-Katrina New Orleans to see what generations of government dependency does to people.
 
#113
#113
truefan said:
Do you always read what someone writes and then fabricate an interpretation of what they are really saying so you can sound as though you know what's going on??

How do you know I "obviously" didn't help build anything? A trust fund baby is someone who has money set aside for them when they are very young or before they are born. This isn't in the same ballpark with that. I was already an adult when the company sold.

Best thing for you to do is STFU. You just can't stand being clueless so you make it up as you go, Mr "I make 5 times your salary".

I realize you have nothing to offer concerning the automotive industry, but please get back to the topic. I realize your posts concerning such might be 100% wrong, but at least they will be on subject
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why is it relavant if you were an adult or not? are you really arguing semantics? someone handed you a bunch of $$$$ for doing nothing (no wonder you are a democrat). does it matter how it was structured?
 
#116
#116
droski said:
jesus. i didn't read it until now. unbelievable. why isn't the SEC looking into GM's CEOs false statements?
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They will. Grassley has called for an investigation.
But, remember....."the SEC does not work for us".....Timothy G.
 
#117
#117
T-TownVol said:
I can see why you would.....creative accounting and all
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Has nothing to do with the accounting. LOL. Let me set you straight, 9 out of 10 big four accountants have no clue about manufacturing and cost accounting.

I like the manner in which they have consolidated their product line. They are making quality and efficient automobiles. Still, labor costs and overheads are going to be a problem for a few years or until the UAW is willing to make some real and definitive concesssions. It's a catch-22 for management. Getting rid of the UAW would pose a longer path to real profitability if in fact, the union is agreeable to a complete restructure of their contract.
 
#118
#118
truefan said:
Getting rid of the UAW would pose a longer path to real profitability if in fact, the union is agreeable to a complete restructure of their contract.
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bankrupting the company would have broken the union contracts. obama is the only reason why they haven't had to take major consessions.
 
#119
#119
droski said:
why is it relavant if you were an adult or not? are you really arguing semantics? someone handed you a bunch of $$$$ for doing nothing (no wonder you are a democrat). does it matter how it was structured?
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There you go again. Did I ever say I didn't do anything? I do admire your consistency.

Boy, you really have some balls. You don't even try to curb yourself. You just continue to spout off whatever comes to your mind regardless of what previously has been said. "No wonder you are a democrat".....priceless.

It's no wonder you are a stock broker. You couldn't do anything else.
 
#120
#120
truefan said:
Has nothing to do with the accounting. LOL. Let me set you straight, 9 out of 10 big four accountants have no clue about manufacturing and cost accounting.

I like the manner in which they have consolidated their product line. They are making quality and efficient automobiles. Still, labor costs and overheads are going to be a problem for a few years or until the UAW is willing to make some real and definitive concesssions. It's a catch-22 for management. Getting rid of the UAW would pose a longer path to real profitability if in fact, the union is agreeable to a complete restructure of their contract.
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Moving free money from one account to another and calling it a payout from profits, is the definition of creative accounting.
No on said anything about public accountants. Still ashamed of your accounting degree and creer path?
 
#121
#121
you never said you did anything either and unless your great back office experience came at your family's company you didn't have anythign to do with it.

as for my profession i very much doubt you could hack it and please show me a "stock brokers" with a cfa charter. you don't know crap about what i do.
 
#122
#122
droski said:
bankrupting the company would have broken the union contracts. obama is the only reason why they haven't had to take major consessions.
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Most likely, yes it would have, but you still need them to build the cars. The best scenario would be to break up the union completely and rehire the same workers. Unfortunately, the UAW has gained the trust of most of its members so getting them to break from the union would likely take some anti-union legislation being enacted. In our present political climate, we both know that isn't going to happen. I am all for having a republican congress with a democrat president. I didn't help elect Pelosi, Reid and the other far left liberals. I wish everyone in Washington was either center left or center right.
 
#123
#123
droski said:
you never said you did anything either and unless your great back office experience came at your family's company you didn't have anythign to do with it.

as for my profession i very much doubt you could hack it and please show me a "stock brokers" with a cfa charter. you don't know crap about what i do.[/QUOTE]

Actually, I know quite a lot about what you do. I know you have your CFA. That's nice.
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#124
#124
truefan said:
Most likely, yes it would have, but you still need them to build the cars. The best scenario would be to break up the union completely and rehire the same workers. Unfortunately, the UAW has gained the trust of most of its members so getting them to break from the union would likely take some anti-union legislation being enacted. In our present political climate, we both know that isn't going to happen. I am all for having a republican congress with a democrat president. I didn't help elect Pelosi, Reid and the other far left liberals. I wish everyone in Washington was either center left or center right.
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the UAW woudl have still represented these workers. they just would be paid a lot less.
 
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