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See my sig...
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So after about 75 more quarters of that, then they can truly say they're not at a loss -- after they pay back their bailout...
 

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See you in the funny papers
04 CTS-V, 05 STS, 07 SRX- All sold :(
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26,239 Posts
Actually, most experts agree that the majority, if not all of the loans will be repaid when GM has their IPO and the Gov't sells their stock in the company.

 

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02 Escalade | 02 Corvette "Goldilocks" | 03 Blazer 4x4 | 92 Caprice Wagon LS1/T56
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They're doing surprisingly well. :) I'm glad.
 

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2002 Seville STS F55, 2006 Mazda Miata
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Its a loss for everyone. A precedent has been set -- its now permissible for government to screw over suppliers and bondholders in favor of labor unions. "Welfare" as we knew it now extends further to large corporations. What feels good now sets us up for ruin later on, which is typical of public policy. No one gives a damn about the type of economic system we've created, as long as the unions remain employed.


GM is long dead as far as I'm concerned.
 

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Cadillac 95 STS, 02 SLS
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I am afraid I no longer trust the word of the accounting firms making up these reports. I would have to see the report and read all the footnotes and give it the smell test before I would be willing to say "Hurrah!"

Since we discovered the lack of integrity of the "big" accounting firms in the financial collapse of the 2000 we should be very sceptical of information turned out by these firms. They have proven themselves to be untrustworthy again in the most recent disastrous financial debacle and along with the "rating" compamnies have done such a disservice to the U.S. and the world economies it will be a long time (unless this generation chooses to overlook the facts) before we can accept these reports at face value.
 

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Its a loss for everyone. A precedent has been set -- its now permissible for government to screw over suppliers and bondholders in favor of labor unions. "Welfare" as we knew it now extends further to large corporations. What feels good now sets us up for ruin later on, which is typical of public policy. No one gives a damn about the type of economic system we've created, as long as the unions remain employed.


GM is long dead as far as I'm concerned.
Well, fire away on the business end of things, for all I care. But for almost a decade, GM has strived to put out some of the best cars in the world. For that, I will keep buying...
 

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97 ETC x2, 04 GXP, 04 STS x2, 97 ESC, 99 Deville, 05 SRX
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2,602 Posts
GM may never be the same. Pontiac is gone, even after the introuction of the G8 GXP, RWD with a lot of ponies under the hood (364?). Oldsmobile is gone and man I love my Caddys but some of those Oldsmobiles left nothing to be desired. The 98 Touring Sedans of the early 90's, the Auroras, man just absolutely wonderful cars. The 2011 trucks? I'd probably buy a Dodge first. I can't believe I'm saying that. The 2010 Sierras look awesome. Chevys not as good. But 2011? That's a design screw-up IMO. The Sierra did not need a redesign. Not yet.

I want to see GM on its feet again. The Camaros are absolutely stunning. I'd buy one in a second. The XLR is toast- why? It was my favourite Caddy-

I'll keep buying GMs. I just won't buy a 2011 model GM truck.
 

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2008 CTS 3.6L DI RWD, GMPP new engine 11/2013
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2,092 Posts
Discussion Starter #12
Its a loss for everyone. A precedent has been set -- its now permissible for government to screw over suppliers and bondholders in favor of labor unions. "Welfare" as we knew it now extends further to large corporations. What feels good now sets us up for ruin later on, which is typical of public policy. No one gives a damn about the type of economic system we've created, as long as the unions remain employed.

GM is long dead as far as I'm concerned.
Yeah, the "welfare" and Obama Admin. political patronage only gets worse. Stephen Girsky, GM’s director in charge of the UAW-VEBA's 17.5% equity ownership (w/ warrants to purchase another 2.5% of the automaker), was promoted to Vice-Chairman in charge of GM Corporate Strategy and Business Development and awarded annual compensation of $5,000,000. So the UAW's chosen man is now GM's #2 and apparent successor-in-waiting to current #1 GM Chrmn-CEO 68-yr-old Ed Whitacre.
 

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See you in the funny papers
04 CTS-V, 05 STS, 07 SRX- All sold :(
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26,239 Posts
GM is notorious for underrating tow capacity on trucks to limit potential liability. After Ford came out with huge numbers for the new Super Duty, GM put their HD trucks through a whole series of grueling tests and decided they could raise the rated capacities without getting close to the edge.
 

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Cadillac 95 STS, 02 SLS
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I love it, the "socialist Obama administration" authorizing payment of $5,000,000. to a labor union minion to manage a major but essentiall bankrupt corporation. Does it get any better than this?! Wonder what Obama will award (his buddies) the lawyers?!
 
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