All three U.S. automakers post a profit

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  2. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: All three U.S. automakers post a profit

    Good, when do we get our money back?
     
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    Re: All three U.S. automakers post a profit

    In response to "Re: All three U.S. automakers post a profit":
    In Response to Re: All three U.S. automakers post a profit : None of that is true. Why do you keep lying? Posted by Kirk6
    Okay, I'll stop. Wait, what am I lying about?
     
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    Re: All three U.S. automakers post a profit

    In Response to Re: All three U.S. automakers post a profit:
    Good, when do we get our money back?
    Posted by StalkingButler

    The last report I saw , which was quite a while back, said that almost 2/3 of the bailout has been paid back with interest. Also as part of the bailout the government received stock that has been sold off at a profit. 

     
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    Re: All three U.S. automakers post a profit

    I guess the problem is that it's really a little bit more complex than just paying back loans, don't you think?

    http://www.detroitnews.com/article/20111114/AUTO01/111140434/1361/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B

    U.S. boosts estimate of auto bailout losses to $23.6B

    The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline.

    In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.

    The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.

    The big increase is a reflection of the sharp decline in the value of GM's share price.

    The current estimate of losses is based on GM's Sept. 30 closing price of $20.18, down one-third over the previous quarterly price.

    GM's stock closed Monday at $22.99, up 2 percent. The government won't reassess the estimate of the costs until Dec. 30.

    The government has recovered $23.2 billion of its $49.5 billion GM bailout, and cut its stake in the company from 61 percent to 26.5 percent. But it has been forced to put on hold the sale of its remaining 500 million shares of stock.

     

     

     
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    Re: All three U.S. automakers post a profit

    In Response to Re: All three U.S. automakers post a profit:
    I guess the problem is that it's really a little bit more complex than just paying back loans, don't you think? http://www.detroitnews.com/article/20111114/AUTO01/111140434/1361/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B U.S. boosts estimate of auto bailout losses to $23.6B By David Shepardson Detroit News Washington Bureau 0 Comments The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline. In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion. The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009. The big increase is a reflection of the sharp decline in the value of GM's share price. The current estimate of losses is based on GM's Sept. 30 closing price of $20.18, down one-third over the previous quarterly price. GM's stock closed Monday at $22.99, up 2 percent. The government won't reassess the estimate of the costs until Dec. 30. The government has recovered $23.2 billion of its $49.5 billion GM bailout, and cut its stake in the company from 61 percent to 26.5 percent. But it has been forced to put on hold the sale of its remaining 500 million shares of stock.    
    Posted by StalkingButler

    Well, if you want to bring actual facts into the discussion!
     
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    Re: All three U.S. automakers post a profit

    They post a profit.. at OUR expense.

    Thank you ever disinishing American workforce.
     
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    Re: All three U.S. automakers post a profit

    GM's figures are fictitious.

    In June of last year, GM was told by the National Highway Traffic Safety Administration about a Volt fire that occurred three weeks after it was crash tested. The fire was large enough to burn vehicles parked near the car.

    This information was not made public until November, after the NHTSA did additional testing on the batteries. GM claimed the reason for the delay in the disclosure was that the fire was an isolated incident.

    However, Joan Claybrook, a former NHTSA administrator said he believed the reason for not announcing the potential safety issue was the “fragility of Volt sales.” Claybrook said the NHTSA could have put out a consumer alert while they were investigating the cause of the fire.

    Government officials have said they believe the fires were caused by coolant leaking from a damaged plastic casing around the batteries, causing a short which sparked fires anywhere from seven days to three weeks after the crash.

    The repairs will consist of adding steel to the plates protecting the battery.

    NHTSA critics have said the agency should have issued an actual recall and did not do so because the federal government owns 26.5 percent of GM stock.

     
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    Re: All three U.S. automakers post a profit

    In Response to Re: All three U.S. automakers post a profit:
    In Response to Re: All three U.S. automakers post a profit : Well, if you want to bring actual facts into the discussion!
    Posted by brat13


    I'm sorry! I denounce myself!


     
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    Re: All three U.S. automakers post a profit

    Well, if you want to bring actual facts into the discussion!

    Kirkie?? Facts ??
    Never heard those 2 words in the same sentence.
     
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