GM and taxpayer dollars

[SHERIFF]

We learn today that all of the GM hourly employees are set to receive a $4,000 bonus each.
The other employees will be receiving even more. After our tax dollars bailed them out of bankruptcy!

Excuse me, shouldn't GM pay back the loans before giving out bonuses? What am I missing here? :censor:

[MOTOWN]

:agree:was thinking the same

[Blk Mamba]

If you ask me that's just par for the course, after the banks paid huge bonuses, to the exec's, what did you expect.

[SpartaPerformance]

What your missing is we let union leaders gain too much power by being in bed with big government liberals. The leaders have sold a con job to the working man that they shouldn't worry let the next guy take care of it. Same thing with banks, this is why government should never get involved with business.

[Mr. Man]

GM paid the loans back late last year if I recall

http://abcnews.go.com/WN/general-motors-repays-81-billion-government-loans/story?id=10437944

[PonyUP]

GM paid the loans back late last year if I recall

http://abcnews.go.com/WN/general-motors-repays-81-billion-government-loans/story?id=10437944

That's what I thought as well, though I could be wrong. I know it was reported that way, but that doesn't necessarily make it so.

[FordNut]

GM paid the loans back late last year if I recall

http://abcnews.go.com/WN/general-motors-repays-81-billion-government-loans/story?id=10437944


That's what I thought as well, though I could be wrong. I know it was reported that way, but that doesn't necessarily make it so.

They paid back a portion of it. The press (and GM) twisted the story.

[Mr. Man]

According to the article the loan part is paid. Apparently the US government still owns a crap load of GM stock. The potential for profit is good but knowing our government they will screw the pooch and sell it in a fire sale.

[Bigdogjim]

They paid it back by getting another bailout with no fan fair.

[FordNut]

They paid it back by getting another bailout with no fan fair.

The rest of the story...

[SC Cheesehead]

They paid it back by getting another bailout with no fan fair.


The rest of the story...

Yeah, kinda like paying off your Discover card balance with your AMEX card and then bragging about getting the card paid off.

C.Y.C.B.I.... :rolleyes:

[tbone]

Yeah, kinda like paying off your Discover card balance with your AMEX card and then bragging about getting the card paid off.

C.Y.C.B.I.... :rolleyes:

That is EXACTLY the crux of the matter. And the new Obama appointed CEO has the balls to go on TV and say they paid the loans back! That lie didn't last long though.

On a side note, my wife is a union teacher. She has had a 2 year pay freeze forced on her. It will cost her $15,000 plus inflation. She has a Masters plus 30 hours. An uneducated GM assembly worker gets paid a bonus from a bankrupt company. Makes sense coming from a goverment enterprise in bed with auto unions. Teachers Unions? Who cares?

[SC Cheesehead]

That is EXACTLY the crux of the matter. And the new Obama appointed CEO has the balls to go on TV and say they paid the loans back! That lie didn't last long though.

Yup.

http://www.foxnews.com/politics/2010/04/22/grassley-slams-gm-administration-loans-repaid-bailout-money/#

http://reason.com/archives/2010/04/27/gms-phony-bailout-payback

GM CEO = the next PT Barnum... :rolleyes:

[LIGHTNIN1]

What about all the family owned dealerships that were forced out of business by the car czar? Were they paid for that? I never heard. Ford gets my buck.

[SHERIFF]

....my wife is a union teacher. She has had a 2 year pay freeze forced on her. It will cost her $15,000 plus inflation. She has a Masters plus 30 hours. An uneducated GM assembly worker gets paid a bonus from a bankrupt company. Makes sense coming from a goverment enterprise in bed with auto unions. Teachers Unions? Who cares?

That there is exactly what bothers me. Having bought 2 Chevrolet Impalas recently, it's going to be a cold day in hades

before I even consider another GM product now that I have seen these employee bonuses announced.

http://i740.photobucket.com/albums/xx43/VaSheriff/2impalas.jpg

[Vortex]

Nobody liked the bailouts but it basically saved GM, Chrysler, countless suppliers and hundreds of thousands of jobs.

[SHERIFF]

Nobody liked the bailouts but it basically saved GM, Chrysler, countless suppliers and hundreds of thousands of jobs.



But.... all of this was accomplished BEFORE they started handing out $4,000+ bonuses to all the GM employees. We, the taxpayers, saved their manufacturing plants. We saved their jobs. They're already making a pretty decent salary, with attractive benefits packages to boot! Millions of people nationwide woud accept their jobs..... without a bonus. I would have felt a lot better had the bonuses not become public information.

Keep in mind that the employees up high on the food chain are getting a percentage bonus, not the $4,000. What's 15% of a $150,000 salary? :D

[SC Cheesehead]

But.... all of this was accomplished BEFORE they started handing out $4,000+ bonuses to all the GM employees. We, the taxpayers, saved their manufacturing plants. We saved their jobs. They're already making a pretty decent salary, with attractive benefits packages to boot! Millions of people nationwide woud accept their jobs..... without a bonus. I would have felt a lot better had the bonuses not become public information.

Keep in mind that the employees up high on the food chain are getting a percentage bonus, not the $4,000. What's 15% of a $150,000 salary? :D

http://www.uppermichiganssource.com/news/story.aspx?list=~%5Chome%5Clis ts%5Csearch&id=580815

...Dr. Tim Nash, a finance professor at Northwood University in Midland says, "Certainly, General Motors has had a wonderful turnaround. Much of it is due to the bankruptcy and the fact that they were able to reduce well over $70-billion in debt."
Dr. Nash says there's debate as to who should be getting the bonus checks.
"They (GM) owe a substantial amount back to the government and bond holders that will never be paid back."

[Big Black Beast]

Typical big corporate BS.:shake: