tbone Posted March 31, 2016 Share Posted March 31, 2016 "That means the actual cost of GM's bailout to taxpayers is much higher, likely on the order of nearly $75 billion, tax experts note." http://www.foxbusiness.com/markets/2016/03/31/wheres-presidential-debate-on-gms-crony-capitalism.html Quote Link to comment Share on other sites More sharing options...
mettech Posted March 31, 2016 Share Posted March 31, 2016 SOB... Quote Link to comment Share on other sites More sharing options...
fordmantpw Posted March 31, 2016 Share Posted March 31, 2016 Bu bu bu bu bu Ford got government money too! </sarcasm> When you look at all the details, you realize what a sweet deal GM received, and we are all paying for it. The bailout may very well have been a good thing at the time to prevent the collapse of the automotive supplier base, but allowing GM to carry on these past losses for tax purposes while putting every other automotive company at a disadvantage is just unacceptable. 1 Quote Link to comment Share on other sites More sharing options...
Fgts Posted April 1, 2016 Share Posted April 1, 2016 So?... As much Asia inc. get away with their sins Americans go to high-horse it when it comes to the auto business. Maybe GM should become an oil company so they can get billions in subsidies without fuss. Quote Link to comment Share on other sites More sharing options...
grbeck Posted April 1, 2016 Share Posted April 1, 2016 We aren't paying for "Asian" companies, so whatever the respective governments do to prop them up is their business. I seriously doubt, however, that Toyota and Honda have been anywhere close to bankruptcy in the last 40 years. Nissan was almost bankrupt, but that was solved via the partnership with Renault. Of course, the real problem with the GM bailout was that it essentially short-circuited the culture change that both GM and the UAW desperately need. 2 Quote Link to comment Share on other sites More sharing options...
mustang let back Posted April 2, 2016 Share Posted April 2, 2016 And the people on here get mad when i say they are a Garbage Motor Company. :happy feet: Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 8, 2016 Share Posted April 8, 2016 (edited) If you want to see how GM really performs as a profitable company, just turn to page 7 of its 2015 financial earnings report. You will see a table there that shows the results in both NON-GAAP Ebit Adjusted $10.8 Billion pre-tax profit that becomes $4.9 Billion under GAAP reporting system- same as Ford uses in their reports.. GM removes all the one time special items to show us what it could be, not what it is.... Edited April 8, 2016 by jpd80 Quote Link to comment Share on other sites More sharing options...
Ron W. Posted April 8, 2016 Share Posted April 8, 2016 And the people on here get mad when i say they are a Garbage Motor Company. :happy feet: No, just tired of hearing the same thing over and over and over again. 1 Quote Link to comment Share on other sites More sharing options...
mustang let back Posted April 9, 2016 Share Posted April 9, 2016 No, just tired of hearing the same thing over and over and over again. o well Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 9, 2016 Share Posted April 9, 2016 Let's not forget that the only reason GM got all of those tax breaks was because the government was protecting its investment and giving GM every chance to prevail. We should be over this by now and focusing on GM's actual performance post bankruptcy. Quote Link to comment Share on other sites More sharing options...
fordmantpw Posted April 9, 2016 Share Posted April 9, 2016 Let's not forget that the only reason GM got all of those tax breaks was because the government was protecting its investment and giving GM every chance to prevail. We should be over this by now and focusing on GM's actual performance post bankruptcy. The fact of the matter is that this affects GM performance past bankruptcy because they have more money to spend. They have an advantage over every other company. Quote Link to comment Share on other sites More sharing options...
mustang let back Posted April 10, 2016 Share Posted April 10, 2016 The fact of the matter is that this affects GM performance past bankruptcy because they have more money to spend. They have an advantage over every other company. i am glad you see this as well.good luck getting the chevy guys on this site to see that as well. :happy feet: Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 10, 2016 Share Posted April 10, 2016 (edited) A deal was done to save GM but the government also gave GM way more than it should have. No wonder Ford was pissed at the time, they knew the Government had given GM a huge financial leg up. Edited April 10, 2016 by jpd80 Quote Link to comment Share on other sites More sharing options...
Ron W. Posted April 10, 2016 Share Posted April 10, 2016 A deal was done to save GM but the government also gave GM way more than it should have. And screwed the tax payers out of Billions, should have let G.M. fall. 1 Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 10, 2016 Share Posted April 10, 2016 And screwed the tax payers out of Billions, should have let G.M. fall. The opinion at the time (including Ford) was to save GM and avoid a complete collapse of the Nth American auto industry. A picture was painted by many that close on 3 million families would be put in jeopardy, the government couldn't let that happen not after letting Lehman fail... The greater good was served by letting a delinquent company skate free with Taxpayer money...... Quote Link to comment Share on other sites More sharing options...
akirby Posted April 10, 2016 Share Posted April 10, 2016 No problem with the financial assistance, but it should have been structured as an interest free loan that GM had to pay back if they survived. 1 Quote Link to comment Share on other sites More sharing options...
Ron W. Posted April 10, 2016 Share Posted April 10, 2016 No problem with the financial assistance, but it should have been structured as an interest free loan that GM had to pay back if they survived. ^^^^^^^^ THIS ^^^^^^^ Instead of a cash gift. Quote Link to comment Share on other sites More sharing options...
rmc523 Posted April 10, 2016 Share Posted April 10, 2016 No problem with the financial assistance, but it should have been structured as an interest free loan that GM had to pay back if they survived. Yes, exactly. 100% agree. Quote Link to comment Share on other sites More sharing options...
Stray Kat Posted April 11, 2016 Share Posted April 11, 2016 The part that bothers me is GM me is the fact that they haven't even thought about slowing down on frivolous pursuits such as auto racing. I doubt anyone in the world had a bigger racing budget than General Motors. Is that ethical knowing how much they owe the American taxpayer? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 11, 2016 Share Posted April 11, 2016 (edited) I like Richard's analogy, I'm paraphrasing from memory, GM is like a drunk that's been given a wash and a shave and a full wallet of cash to go spend. Fixing cultural delinquent behaviour was left to GM to self manage, most of the people who got GM into that mess didn't get fired..... Edited April 11, 2016 by jpd80 Quote Link to comment Share on other sites More sharing options...
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