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BREAKING: US Government Sells GM Stake - Books 50% Loss

 
Desert FoxModerator
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12/19/2012 07:01 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Anybody else get the feeling the sooner they crash it the better ? These "representative"parasites need to be routed out now.
 Quoting: Omniscient1


They will get another bailout. The treasury offloading now is shychronized to a repurchase program they can make now that Ally is out of FDIC probation. Then they will dump at the top, create a strike situation and get all the "new hires" fired after 3 years to get PBRC 60% for the rest of life.

People think Mitt Romney types (MBAs, PhDs in economics, CPAs, etc) are vulture capitolists. You aint seen nothing till you get union bosses at the controls of the financials on a gravy train like GM. The outcome is essential the same just alot faster.
 Quoting: Anonymous Coward 23907045


Insight you have indeed. All the above is correct.
TOMABANEFOX
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12/19/2012 07:02 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I started another thread about GM a few days ago. It was based on the fact that GM went back to a single body style for both the GMC Sierra and Chevrolet Silverado. The previous incarnation was two different bodystyles but the 2014 models will share everything with the exception of the grill and headlights. Based on that, I created the thread stating that tough times had hit GM and that they would most likely fold in the coming years. That compounded with the news about the government selling it's stake can only mean one thing - GM is about to go under.

Thread: Tough times at GM
 Quoting: Anonymous Coward 29687017


Agreed
TOMABANEFOX
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12/19/2012 07:06 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I started another thread about GM a few days ago. It was based on the fact that GM went back to a single body style for both the GMC Sierra and Chevrolet Silverado. The previous incarnation was two different bodystyles but the 2014 models will share everything with the exception of the grill and headlights. Based on that, I created the thread stating that tough times had hit GM and that they would most likely fold in the coming years. That compounded with the news about the government selling it's stake can only mean one thing - GM is about to go under.

Thread: Tough times at GM
 Quoting: Anonymous Coward 29687017


I guess. I'd want comp numbers for current workers and retirees before we pass the hat around for donations. Consolidating body styles doesn't mean much to me.
TheBiss
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12/19/2012 07:08 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Em Effman!
www.TheGrainMillWF.com - Bulk foods, long term storage solutions
www.CatawbaCoops.com - Unique A-Frame chicken coop plans
black calx
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12/19/2012 07:12 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Awesome! I can't wait until they fix the health care system too! scratching
"We're chained to the world and we all gotta pull." - Tom Waits
Anonymous Coward
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12/19/2012 07:14 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Only a 25% loss being reported to the masses an Nightly Business Report. Not that a 25% loss is great. They are saying that a million jobs were saved by the Government investment in GM. Jobs were saved.

Investing in stocks is a gamble at best unless you control the game.
Anonymous Coward
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12/19/2012 07:15 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Awesome! I can't wait until they fix the health care system too! scratching
 Quoting: black calx


It will be interesting to see how the progressives/unions handle the issue of means testing healthcare and social security.

We will see just how much they are for "the middle class"
Anonymous Coward (OP)
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12/19/2012 07:19 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Only a 25% loss being reported to the masses an Nightly Business Report. Not that a 25% loss is great. They are saying that a million jobs were saved by the Government investment in GM. Jobs were saved.

Investing in stocks is a gamble at best unless you control the game.
 Quoting: Anonymous Coward 30351192


No jobs were saved, there is no such thing. Instead jobs were lost because inefficient companies stayed in business. If GM had failed back in '08, other car companies would have taken up the sales lost by GM. Those companies would have had to ramp up production and would end up hiring the people laid off at GM. Those companies operate more efficiently and thus stimulate the economy culminating in job creation.
T-1000
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12/19/2012 07:21 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
So GM cars and trucks are 50% off
 Quoting: Omniscient1


Don't I wish! I'd go buy me one of those brand new 2014 Silverados.
 Quoting: Anonymous Coward 29687017


Oh, I see, so you'd support the ripping off of the taxpayers as long as its convenient for you.

whatever
Anonymous Coward
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12/19/2012 07:23 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM is buying back their shares over the next 12 to 15 months. That is a good news story, unless you are just a sad GOP shill. BTW, 6,700 people die in the USA every single day. Most of them are GOP voters. Good luck in 2016.
Anonymous Coward (OP)
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12/19/2012 07:32 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM is buying back their shares over the next 12 to 15 months. That is a good news story, unless you are just a sad GOP shill. BTW, 6,700 people die in the USA every single day. Most of them are GOP voters. Good luck in 2016.
 Quoting: Anonymous Coward 1507723


lmaolol

Do you realize that the government is basically saying that they would rather cut their losses now than wait to see if they can recoup their investment? That means that the government has lost all faith in a GM comeback. If that is a good news story, I'd hate to see a bad one.
Anonymous Coward
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12/19/2012 07:40 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM is buying back their shares over the next 12 to 15 months. That is a good news story, unless you are just a sad GOP shill. BTW, 6,700 people die in the USA every single day. Most of them are GOP voters. Good luck in 2016.
 Quoting: Anonymous Coward 1507723


lmaolol

Do you realize that the government is basically saying that they would rather cut their losses now than wait to see if they can recoup their investment? That means that the government has lost all faith in a GM comeback. If that is a good news story, I'd hate to see a bad one.
 Quoting: Anonymous Coward 29687017


The government is giving GM the ability to buy their shares back at half price, after they were already bailed out. And the government underwrote the IPO.

The government is also funding lots of severance packages via the government retirement board, SS disability, and other mechanisms.

This is a fantastic story if you are associated with GM in any way.
hurr durr
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12/19/2012 08:14 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
All that comes to mind is...

cruise

You didn't see this coming?

putin

This country is about as bright as a box of busted bulbs.
Anonymous Coward
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12/19/2012 08:15 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
So GM cars and trucks are 50% off
 Quoting: Omniscient1


Do you really wanna drive something an Obama voter built? damned
Anonymous Coward
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12/19/2012 08:19 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
My Government has become vile,evil, and dirty.......
Anonymous Coward
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12/19/2012 08:22 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Another case of the current administration showing off its superior business prowess. What a fucking joke we all just took it in the ass AGAIN directly because of the douchebag in chiefs lack of brain function
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12/19/2012 08:59 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
435obamfade
6473madburger

Obama Pledge

I pledge allegiance to the unions
And to civil unrest in America
And to the Republic
I plan to destroy
Two Nations
Under funded
Divided
With misery and poverty for all

“Barack Obama thinks his job is to lead the mob, not the country.”
Anonymous Coward (OP)
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12/19/2012 09:01 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM is buying back their shares over the next 12 to 15 months. That is a good news story, unless you are just a sad GOP shill. BTW, 6,700 people die in the USA every single day. Most of them are GOP voters. Good luck in 2016.
 Quoting: Anonymous Coward 1507723


lmaolol

Do you realize that the government is basically saying that they would rather cut their losses now than wait to see if they can recoup their investment? That means that the government has lost all faith in a GM comeback. If that is a good news story, I'd hate to see a bad one.
 Quoting: Anonymous Coward 29687017


The government is giving GM the ability to buy their shares back at half price, after they were already bailed out. And the government underwrote the IPO.

The government is also funding lots of severance packages via the government retirement board, SS disability, and other mechanisms.

This is a fantastic story if you are associated with GM in any way.
 Quoting: Anonymous Coward 23907045


Fantastic story? Are you out of your mind? GM isn't getting some great deal by buying back shares. Companies are not in the business of buying back their own shares unless they want to take the company private. This is a terrible thing that is happening to GM. Why are you here shilling?
Saddletramp
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12/19/2012 09:06 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Got to cash out the loss on the first bailout before you can have the second one...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward (OP)
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12/19/2012 09:12 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Got to cash out the loss on the first bailout before you can have the second one...
 Quoting: Saddletramp


The country is broke. There will be no second bailout. The government knows it and GM knows it. Right now both are in damage control mode. When GM collapses so too will the democratic party, the Obama Administration, and any hopes of Americans fulfulling the American dream.
Anonymous Coward
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12/19/2012 09:22 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I have friends that work the line they have been working non stop all year, overtime weekends etc etc I was shocked when he told me how busy they were and I was thinking to myself...

Who the hell s buying all these cars.... Answer no one...lots full of them but in Order to secure Ohio and Michigan votes I guess the gov had a real motivation to keep the lines humming...and now after election

They will sell their stake at a loss...then in new years massive lay offs are coming....

All the while people not having a clue that they have been played with and all that work was just busy work to keep them happy and occupied until after the election....
Anonymous Coward (OP)
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12/19/2012 09:22 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
In stark contrast, the Department of the Treasury sold its stake in Citigroup at a $7.5 billion profit back in 2010. Why, I ask, why would the Department of the Treasury sell its stake in a company at a loss of nearly $50 billion? I'll tell you why, because GM is about to go belly up. That's why.
Sledster
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12/19/2012 09:25 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I'm going to live on a sheep farm in Scotland. That's it.
 Quoting: Anonymous Coward 6568391



Not much different from herding Bulgarian Goats I guess.

Well, at least you will have access to some good Guiness.
I'm tired of waiting, somebody push the damn button already!

Please ignore the German flag, I am an American.

Keep your 72 virgins, give me one old biker chick.
Anonymous Coward (OP)
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12/19/2012 09:26 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I have friends that work the line they have been working non stop all year, overtime weekends etc etc I was shocked when he told me how busy they were and I was thinking to myself...

Who the hell s buying all these cars.... Answer no one...lots full of them but in Order to secure Ohio and Michigan votes I guess the gov had a real motivation to keep the lines humming...and now after election

They will sell their stake at a loss...then in new years massive lay offs are coming....

All the while people not having a clue that they have been played with and all that work was just busy work to keep them happy and occupied until after the election....
 Quoting: Anonymous Coward 16700850


Wow. If this is true then this is without a doubt one of the saddest times in American history. It reminds me of a Russian tsar who put up a bunch of fake storefronts to make people think that the country was in better financial shape than it really was.
Anonymous Coward (OP)
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12/19/2012 09:30 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I have friends that work the line they have been working non stop all year, overtime weekends etc etc I was shocked when he told me how busy they were and I was thinking to myself...

Who the hell s buying all these cars.... Answer no one...lots full of them but in Order to secure Ohio and Michigan votes I guess the gov had a real motivation to keep the lines humming...and now after election

They will sell their stake at a loss...then in new years massive lay offs are coming....

All the while people not having a clue that they have been played with and all that work was just busy work to keep them happy and occupied until after the election....
 Quoting: Anonymous Coward 16700850


Wow. If this is true then this is without a doubt one of the saddest times in American history. It reminds me of a Russian tsar who put up a bunch of fake storefronts to make people think that the country was in better financial shape than it really was.
 Quoting: Anonymous Coward 29687017


I found the story on Wikipedia: [link to en.wikipedia.org]

The term Potemkin Village came from this event.
Anonymous Coward
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12/19/2012 09:43 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I have friends that work the line they have been working non stop all year, overtime weekends etc etc I was shocked when he told me how busy they were and I was thinking to myself...

Who the hell s buying all these cars.... Answer no one...lots full of them but in Order to secure Ohio and Michigan votes I guess the gov had a real motivation to keep the lines humming...and now after election

They will sell their stake at a loss...then in new years massive lay offs are coming....

All the while people not having a clue that they have been played with and all that work was just busy work to keep them happy and occupied until after the election....
 Quoting: Anonymous Coward 16700850


Wow. If this is true then this is without a doubt one of the saddest times in American history. It reminds me of a Russian tsar who put up a bunch of fake storefronts to make people think that the country was in better financial shape than it really was.
 Quoting: Anonymous Coward 29687017


I have friends that work the line they have been working non stop all year, overtime weekends etc etc I was shocked when he told me how busy they were and I was thinking to myself...

Who the hell s buying all these cars.... Answer no one...lots full of them but in Order to secure Ohio and Michigan votes I guess the gov had a real motivation to keep the lines humming...and now after election

They will sell their stake at a loss...then in new years massive lay offs are coming....

All the while people not having a clue that they have been played with and all that work was just busy work to keep them happy and occupied until after the election....
 Quoting: Anonymous Coward 16700850


Wow. If this is true then this is without a doubt one of the saddest times in American history. It reminds me of a Russian tsar who put up a bunch of fake storefronts to make people think that the country was in better financial shape than it really was.
 Quoting: Anonymous Coward 29687017


If you have any friends that work the assembly lines just ask them the same question... Then look around you and see how many new cars are in your neighborhood... Then think back to the elections and the Obama strategists always maintaining that Ohio and Michigan were key states...

This is why the gov should never own businesses...

What should have happened is that gm should have failed....and went belly up....

I understand the argument about bailing out in order to save jobs but in the long run it only hurts never helps...

What would happen if the president in the early part of the century decided to bailout all stage coach drivers, all blacksmiths and all steam engine operators in order to preserve their shrinking jobs?

Come on man it doesn't make sense...bailouts kill innovation....if gm went under I GURANTEE you a group of smart efficient businessmen would fill the void...but no, bailouts is a way for the elites to PRESS pause on the staus quo...

The pecking order will always remain..,the guys on top will always stay on top regardless of the fact that they could fuck things up so badly that it won't even make a difference because the stupid plebes and their un born off spring and their kids greatgrand kids...will be footing the bill to keep the status quo going for as long as they can get away with it
Saddletramp
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12/19/2012 09:44 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Got to cash out the loss on the first bailout before you can have the second one...
 Quoting: Saddletramp


The country is broke. There will be no second bailout. The government knows it and GM knows it. Right now both are in damage control mode. When GM collapses so too will the democratic party, the Obama Administration, and any hopes of Americans fulfulling the American dream.
 Quoting: Anonymous Coward 29687017


They've been giving stealth bailouts to GM for years now. The government is two years ahead on purchases of government vehicles...all GM now! They bailed out GMAC Finance seperate of GM itself as well...

As long as those printing presses are working, they will bail them out...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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12/19/2012 10:00 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Don't buy any GM products. They'll be out of business in about a year.
Anonymous Coward
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12/19/2012 10:11 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Don't buy any GM products. They'll be out of business in about a year.
 Quoting: Anonymous Coward 30349742


Agreed...the govt who are stakeholders have access to the order flow...if they thought things would really pick up in 2013... They wouldn't be selling now...
Anonymous Coward
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12/19/2012 10:25 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
50%... not bad for govt work.

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