General Motors Reports Record Profits

[olympicoscar]

Some good news for a change. General Motors reported a record profit of 7.6 billion. I'm tired of reading all the news from the doomsdayers.

Excite News - GM posts its highest profit ever: $7.6 billion

[goDAWGSsicem]

Pretty easy to have record profits when the tax payers are covering your overhead.

[Ballboy534]

Betamax could generate a profit if they were bailed out too ya know.

[fordman84]

Originally Posted by olympicoscar

Some good news for a change. General Motors reported a record profit of 7.6 billion. I'm tired of reading all the news from the doomsdayers.

Excite News - GM posts its highest profit ever: $7.6 billion

Maybe they can take some of that record profit and offer a dividend to help drive the price of the stock up, then the treasury could sell out and recover all of our taxpayer money.

[PIBuckeye]

Originally Posted by olympicoscar

Some good news for a change. General Motors reported a record profit of 7.6 billion. I'm tired of reading all the news from the doomsdayers.

Excite News - GM posts its highest profit ever: $7.6 billion

Yea, and did you hear that the new owners - the union - are cutting specific people's pensions despite the record profit???

Curious, will all of us taxpayers get a dividend check???

[JuiceTheGator]

Originally Posted by PIBuckeye

Yea, and did you hear that the new owners - the union - are cutting specific people's pensions despite the record profit???

Curious, will all of us taxpayers get a dividend check???

Good question. No, we won't because we're being fucked.

[potzer25]

Uh. We (the government) don't Want GM to pay a dividend. We want the stock price to rise so our stake can be sold at a profit (or minimal loss.)

[huskers1217]

Originally Posted by JuiceTheGator

Good question. No, we won't because we're being fucked.

now ya get a taste of how the rest of us feel when life isn't fair.

[johnshadows64]

Originally Posted by potzer25

Uh. We (the government) don't Want GM to pay a dividend. We want the stock price to rise so our stake can be sold at a profit (or minimal loss.)

So the government has recovered 22.3 billion out of 49.5. Stock is trading at $27 bucks today, but the market looks near topped out (for the time being). I doubt GM rises to 54 by the time November rolls around. Either way, this is bad news for Romney in Michigan and beyond. He badmouthed the bailout and has been bashing unions as well. Obama can and least go forward and say the company is back on its feet, is profitable and moving toward repaying the government in total.

[fordman84]

Originally Posted by potzer25

Uh. We (the government) don't Want GM to pay a dividend. We want the stock price to rise so our stake can be sold at a profit (or minimal loss.)

GM announces dividend, stock price goes up, Treasury sells stock, taxpayers get money back. No cares what the price does ex-dividend.

Not sure why you are saying the gov't wouldn't want a dividend.

[JuiceTheGator]

Originally Posted by fordman84

GM announces dividend, stock price goes up, Treasury sells stock, taxpayers get money back. No cares what the price does ex-dividend.

Not sure why you are saying the gov't wouldn't want a dividend.

Correct, sir. I'd just like to add one in the hand is worth several in the bush. Thus, dividends are nice to receive.

[olympicoscar]

My point is that this was money well spent by the Federal Government. A lot of people owe their jobs to the bailout, not to mention their suppliers. Just because they got a bailout, profits were not guaranteed. They also showed a profit of over 4 billion last year.

Some good news for a change and lets wait and see about the dividends.

[fordman84]

Originally Posted by olympicoscar

My point is that this was money well spent by the Federal Government. A lot of people owe their jobs to the bailout, not to mention their suppliers. Just because they got a bailout, profits were not guaranteed. They also showed a profit of over 4 billion last year.

Some good news for a change and lets wait and see about the dividends.

Nah, they won't pay a dividend. That is just the quickest way I can think for them to increase the stock price so that the treasury can sell out. It would be dumb to sell out right now at a loss.

I still don't agree with the bailout and think GM should have been forced to make more cuts to secure private financing. But they didn't, so no use crying over spilled milk. I think eventually they would have found private funds, but would have had to make bigger cuts. They didn't, oh well.

[JuiceTheGator]

Originally Posted by olympicoscar

My point is that this was money well spent by the Federal Government. A lot of people owe their jobs to the bailout, not to mention their suppliers. Just because they got a bailout, profits were not guaranteed. They also showed a profit of over 4 billion last year.

Some good news for a change and lets wait and see about the dividends.

This was an unConstitutional theft of taxpayer dollars to float a shitty company because of its union political contributions and votes. It lies where chrony capitalism and socialism meet in an underground cesspool.

This fiasco was the exact opposite of money well spent...money we don't have.

[PIBuckeye]

Originally Posted by huskers1217

now ya get a taste of how the rest of us feel when life isn't fair.

Well, now we all know how those original GM shareholders and bondholders felt........when they got the shaft.....

[PIBuckeye]

Originally Posted by JuiceTheGator

This was an unConstitutional theft of taxpayer dollars to float a shitty company because of its union political contributions and votes. It lies where chrony capitalism and socialism meet in an underground cesspool.

This fiasco was the exact opposite of money well spent...money we don't have.

Couldn't have put it better myself...... all true.

A new company would have risen from the ashes of GM, much stronger, and without the parasitic union contracts....... then "GM" could have REALLY competed with toyota and honda.......

[goDAWGSsicem]

Just to remind everyone... Bush started the auto bailout.

[HuskerInSecLand]

Originally Posted by PIBuckeye

Couldn't have put it better myself...... all true.

A new company would have risen from the ashes of GM, much stronger, and without the parasitic union contracts....... then "GM" could have REALLY competed with toyota and honda.......

Umm GM did compete and beat both of them. They were the world's largest automaker (by vehicle sales) in 2011.

Toyota is reeling from it's reputation being ripped apart still and Honda hasn't been innovative in a decade. The competition is in America and Korea now not Japan.

edit: Let me revise that to Germany also . VW was number 2 I believe.

[raptorlife4]

Originally Posted by goDAWGSsicem

Just to remind everyone... Bush started the auto bailout.

Oh but the Cons wont accept that. they will just blame Obama

[rmilia1]

Originally Posted by johnshadows64

So the government has recovered 22.3 billion out of 49.5. Stock is trading at $27 bucks today, but the market looks near topped out (for the time being). I doubt GM rises to 54 by the time November rolls around. Either way, this is bad news for Romney in Michigan and beyond. He badmouthed the bailout and has been bashing unions as well. Obama can and least go forward and say the company is back on its feet, is profitable and moving toward repaying the government in total.

Not sure why you would think that. The market has gained roughly 80% in the last 3.5 years and has been on a pretty steady rise recently. Analysts have been saying the market is "topped out" for a year and a half now and yet it keeps going up.