Posts Tagged ‘GM’

How much has the (Union) (Government) General Motors (GM) (Payoff) Bailout Cost US???

December 19, 2012

I need someone to please help me!!!! 

Are reporters and their Media Masters either 1) Completely LAZY OR 2) Completely INCOMPETENT OR 3) Can they possibly be this lacking in MORALS, and EVIL, that they have no problem LYING OUTRIGHT to the American People in order to push an AGENDA??  

I guess I am to much of an optimist and trusting in the good will of others that I seriously have a difficult time believing that the answer is Number 3!!!  I mean, the collaboration, that this requires of everyone involved is amazing.  IF it is true, just imagine what they could do, working together like this, on a worthy goal!!!

Why am I asking a question with only these possible answers, you ask??  The following are articles from this morning:

GM to buy stake from Treasury, government plans full exit” – Fox Business

GM & Feds Announce They’re Breaking Up, Automaker to Buy Back 200M Shares” – The Blaze

GM to Buy Back Stake From Treasury; US to Exit” – CNBC

And there are MANY, MANY more of these articles.  Go ahead and search “GM buys back government shares”, there are already over 500,000 links!!!

“That sounds like a good deal to me”, you say, “I don’t want my government owning one of the largest manufacturers on the planet”.  “So, what’s wrong??”

Here is a line (or variation) that is in ALL of the articles:

“GM received about $50 billion from the U.S. Treasury as part of its 2009 bankruptcy restructuring in 2009 under the Troubled Asset Relief Program (TARP).”

YES, this statement is TRUE!!!  BUT….That is NOT the WHOLE STORY!!!  Here is another line:

“The deal will raise the proceeds Treasury has recovered to $28.6 billion. That leaves $20.9 billion left on the original bailout amount.”

And here is where it gets a little tricky!!!  You see that word, ORIGINAL??  Or that, “GM received about $50 Billion from TARP”??  That is NOT ALL THAT THEY RECEIVED!!!  They ALSO received ZERO TO VERY LOW (below market rates by FACTORS) loans in order to make the first repayments.  And some of those “loans were written off!!!  In other words, the Government gave GM a “loan” so it could repay the payoff “Bailout”, and THEN, the government told GM that they didn’t need to repay the “loan”.  And don’t forget the $45.4 BILLION that WE gave to GM in order to cover future tax payments!!  IF they ever truly make a profit!!!

Also, something that used to be done in business is a calculation concerning time value of money.  To keep this simple, let’s just use $50 BILLION that we gave them.  And let’s assume a 5% yearly return (many treasury bonds pay more than this).  We bailed them out in 2008, it is now the end of 2012, so let’s say 3 years, just to keep it simple.  Year 1 the interest would be $50 Billion * 1.05 =$52.5 Billion.  Year 2 =$55.125 Billion. And year 3 =$57.9 BILLION.  And the interest is not done yet….

So, to sum it all up:  IF the Government sold ALL of it’s shares today the Bailout of Government Union Workers would cost US AT LEAST $55 BILLION, NOT INCLUDING INTEREST!!!  We’ll see what the final cost (IT WILL BE A COST, no amount of “creative accounting” will be able to show this as a “profit”) is in future years.

Which brings me back to my original question:  Are they LAZY, INCOMPETENT, OR EVIL??

Where is MY $4,000 bonus???

February 14, 2011

So, General Motors, also known as GM or Government Motors, is going to pay its “workers” a $4,000 bonus

That is great, except that is coming from the United States Government that is projected to have a $1.65 TRILLION deficit this year.  That is $1,650,000,000,000.  You know that we, the American Public, still own (at least 30%), and they still OWE us $27 BILLION!!  This does not include the $17 BILLION that GMAC still owes us, that has been removed from the Government Motors balance sheet through accounting gimmicks, and is likely to grow.

So, to summarize, a company that is owned by you, and still owes you money, is going to take some more of your money and give it to some employees, because they did NOT get a raise this year.  Just so they know, I did NOT get a raise this year either, AND I took a 25% pay cut since The One has taken office.  Where is MY $4,000???

If you are not happy about this fleecing, let your reprentatives know!

Can the government force everyone to buy a GM vehicle?

March 30, 2010

This is a very interesting article from a Representative.

How about this.  Every Representative and Senator and President from now on, can only own/use a GM vehicle.  If they are elected they have to sell any vehicle that they have that is not GM.  If they use any other vehicle, they would be fined the cost of one GM vehicle for a deserving family. 

Let the American public vote on the families that will be deserving.