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Thread: GM IPO - Great Success!!!

  1. #41
    Senior Member Franco's Avatar
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    Quote Originally Posted by Buzz View Post
    You mean actually collecting income taxes from millions still working vs. the billions you'd have to pay out in unemployment, medicaid, and food stamps?
    You mean Obama's payoff to the UAW for thier contributions and support for his campaign? He certainly didn't mind putting thousands off offshore workers out of work. Unlike the UAW workers who would have sat around collecting unemployment, the oil field workers have taken jobs in foreign countries because they aren't a bunch of over paid blood-sucking leaches.

    And, that is the difference between the union entitlement mentality and real workers! GM didn't deserve to get bailed out because they have been dumping inferior products on the market for decades!

    We all know how great the unions have been for Michigan and other robust economies in California and Illinois.
    Last edited by Franco; 11-19-2010 at 09:22 AM.
    It's such a shame that in the USA, defending Liberty has become such a heroic deed.

  2. #42
    Senior Member menmon's Avatar
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    Quote Originally Posted by depittydawg View Post
    Personally I never supported any of the bailouts. Had GM been allowed to fail, along with the big banks, the void would already been filled by better run organizations. No doubt Toyota, Nissan, etc would be building factories in the US had GM went under like they should have.
    One thing we are forgetting is these foreign car companies get much ad from their federal governemtnts in tough times. So when there is a risk of losing market share, the governements help.

  3. #43
    Senior Member Buzz's Avatar
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    I wonder why Toyota supported the bailout?

    http://money.cnn.com/2008/12/15/news...ion=2008121517

    NEW YORK (CNNMoney.com) -- Detroit's Big Three aren't the only automotive companies that want to see the government step in with some much-needed financial help.

    Overseas automakers, most notably Toyota Motor, all endorse some form of federal aid to keep General Motors (GM, Fortune 500), Chrysler LLC and possibly Ford Motor (F, Fortune 500) out of bankruptcy.

    ...

    This may seem surprising at first, especially considering that much of the opposition to the auto bailout was from senators from Southern states that are home to auto plants operated by Asian auto companies, such as Alabama and South Carolina. But the Asian automakers insist they never lobbied against such help for the Big Three.

    ...

    Collateral damage

    The overseas automakers, who between them produce more than 3 million vehicles a year at U.S. plants, all worry their production would be hurt if one of the U.S. automakers went under. That's because a Big Three failure would likely lead to widespread bankruptcies in the auto parts supplier industry.

    ...

    Economic shockwaves

    A collapse of one of the Big Three would also probably cause an even more severe hit to the U.S. economy. That would further eat into demand for U.S. auto sales, which hit a 26-year low in November.

    "The U.S. economy would be in shambles," Merkle said. "The robust U.S. economy that Toyota and the others depend on would suddenly not be as lucrative."

    ...

    Enter new competition

    The final concern for the overseas automakers is a longer-term problem. The failure of a U.S. automaker could open the door for a Chinese or Indian automaker to buy up the assets of the failed company and create a new low-cost competitor in the U.S.

    "You could open the door for foreign companies to buy distressed assets at rock-bottom prices," he said. He pointed to India's Tata (TTM) and China's Geely as two automakers in the developing world that are already on record as being interested in expanding into western markets like the United States.
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  4. #44
    Senior Member WaterDogRem's Avatar
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    Quote Originally Posted by Buzz View Post
    I wonder why Toyota supported the bailout?

    http://money.cnn.com/2008/12/15/news...ion=2008121517
    That's one theory, but we'll never know now.

  5. #45
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    I at the posts on this thread - apparently those who are looking for something to praise in the Obongo regime find this a success. Here's why it's not: Holders of what should have been 1st in line debt obligations were stiffed in favor of more junior stakeholders. When the Rule of Law ceases to be a deterrent this country is one step away from a dictatorship . Hopefully the 1st in line stakeholders win their lawsuit .

    But enjoy your temporary euphoria, especially those who got a chunk of the IPO, the stock has more downside potential than upside.
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