GM Boasts Strong June Sales--but......

[Blue Goose]

GM Boasts Strong June Sales — But Is That the Whole Story?

It looks like General Motors will be throwing everything in but the kitchen sink to help fluff its second quarter earnings numbers. Taxpayers continue to help with the cause as President Obama campaigns on the "success" of GM following the manipulated bankruptcy process that cost taxpayers $50 billion and another $45 billion of tax credits gifted to GM to help protect powerful UAW interests. We now learn that government purchases of GM vehicles rose a whopping 79% in June.

The government's increased spending on GM vehicle purchases presents yet another conflict of interest as Treasury refuses to sell taxpayers' stake in GM and Obama campaigns on the auto bailouts. It does not appear that any members of Congress (from either party) are questioning the increased spending. Also ignored was the Department of Energy's gifting of $2.7 million of taxpayer money to GM to reduce energy consumption in its door manufacturing process by 50%. The DOE seems to be one of the main conduits to funnel taxpayer funds to cronies of the Administration. The $2.7 million contribution to GM comes after additional millions of dollars were spent by the DOE on advisory fees paid to legal firms that helped smooth the way for the GM bankruptcy process (as reported here); another move that went unquestioned.

 

[DNFXDLI]

 

[fatherdoug]

And a couple for good measure!

 

[O'Rattlecan]

I was going to page duncan to the room, but it looks like he already made it.

Ryan

 

[DNFXDLI]

I didn't think I could dislike that POS company more than I already do...but it seems they can in fact come up with more ways for to dislike them.
This just enforces my resolve to not give them or anybody that buys their crap any of my $$.
Bastards.

 

[Fordzilla80]

When this bailout went down, I wasn't too worried about it since the government wasn't taxing me for my non-existent jobs. But now that they are, it's great to know that instead of fluffing my social security, the gubberment is fluffing the sales numbers and paychecks of GM executives.

 

[taxreliever]

Ridiculous! Not much else to say about that....but like Duncan, they keep coming up with reasons to hate them more and more!

 

[m78]

I read that the city of virginia beach is going to start replacing the crown vic police cars with chevrolets. wtf ? who made that decision.

 

[taxreliever]

I read that the city of virginia beach is going to start replacing the crown vic police cars with chevrolets. wtf ? who made that decision.

The guberment probably gave them some type of tax credit or grant....argh!

Speaking of that...I'm glad our local towns in Maine are still all buying Fords for their municipality vehicles.

 

[kiwi f150]

Just have them sell GM to the Chinese and be shot of them ..... maybe you could send a few "government advisors" with them

 

[O'Rattlecan]

... the gubberment is fluffing the sales numbers and paychecks of GM executives.

Minor corrections. The bail outs favored the unions more than anyone.

Ryan

 

[DNFXDLI]

Oh..you mean those "skilled employees"?

 

[taxreliever]

Minor corrections. The bail outs favored the unions more than anyone.

Ryan

Yeah, but they still need to fluff the sales numbers to save face on the unpopular bailout, even if it was primarily to fund the overpriced union bennies and salaries.

 

[taxreliever]

Think it may be time for this company to fall off the face of the earth:

http://bottomline.nbcnews.com/_news...numbers-may-make-gms-bad-week-even-worse?lite

 

[Blue Goose]

A related story about this...

GM Stock Hits New Lows, Company in Turmoil

The last paragraph pretty much sums it all up:

Remember that big GM boom? It’s a lie. Obama may have bailed out GM, but he didn’t bail out the taxpayer – and in the long run, GM won’t be a viable business just because the government cut it a check.

 

[taxreliever]

A related story about this...

GM Stock Hits New Lows, Company in Turmoil

The last paragraph pretty much sums it all up:

Always fun reading the comments below the article:

Well, this is a big surprise, but then that's what you get when you incentives failure. Had they followed Romney's suggestion and allowed GM to go bankrupt, it would have reorganized... leaner, stronger and be well on it's way to solvency.


Skyfox99

But, the unions and their costly perks and benefits had to be saved.


wesley69

GM goes down the tube again and there WILL be no bailout if Romney is elected. Bankruptcy will be the result and a restructing of that company and its obligations. THAT INCLUDES THE UNIONS, who we are currently paying for with taxpayer money.


sendtheclunkerbacktochicago

They owe the tax payers a lot of money! Now wasn't that Chevy Volt a great expensive experiment? America's first ever coal burning car becomes the Edsel of the 21st century.


rootvg

The next recession will be interest rate driven. It has to happen, just like 1980-1982. General Motors will probably end up being broken into pieces and sold off or the Chinese may buy the whole damn thing. New models are designed for China first these days anyway.


flahorsedentist

And, all the union bosses!