1. General (Government) Motors is NOT an American company. The majority of their workforce is now located outside the United States
GM, once a symbol of U.S. industrial might, would have disappeared late in 2008 or early last year without help from the government. The company cut 10,000 workers last quarter and now employs 205,000 people across the globe, including 77,000 in the U.S.
2. GM paid back a few billion in debt with what money? Free Government Money!
GM lost $3.4 billion in the fourth quarter of 2009 on revenues of $32.3 billion, the company's first full quarter out of bankruptcy protection.
GM has lost more than $86 billion since 2005, even though it had a few profitable quarters along the way. Before heading into bankruptcy protection last year it had almost $53 billion in debt, but it ended last quarter at $14 billion
3. GM is a failure and will continue to fail
CEO Ed Whitacre has predicted a full-year profit as U.S. auto sales continue their slow recovery. That could lead to a public stock offering late in the year and full repayment of the $50 billion in U.S. government aid that stopped GM from going under last year. The U.S. government now owns 61 percent of the company.
What kind of idiots are going to invest $50 Billion in GM Stock that is based on nothing but promises that one day they will make money.
And this doesn’t include the $18+ Billion that the Federal Government gave to GMAC that has not been repaid.
GM is a bullshit company that just screwed all the feeder American Companies, screwed the tax payer out of billions, then took all their jobs offshore!
Many Toyota and Honda vehicles are actually built in the United States and are 80% American made.
I'm very tired of the Federal Government and the Media's BS about how GM is paying everything back. What a load of lies!
"What kind of idiots are going to invest $50 Billion in GM Stock that is based on nothing but promises that one day they will make money."
Isn't that what you invest in when you buy shares in any company? You don't share the profits of previous years, only future years, and yes GM will become profitable again. So that does kinda invalidate your argument. The movement of labour out of America is bad for all Americans, except.... those with substantial shareholdings. Perhaps buying shares is exactly what you should be doing.
I will also point out that it is not the slightest bit economical for GM to manufacture all of their cars in North America, only to subsequently ship them to the other side of the world. Do you think that GM would sell many cars in the UK if $2000 a car was added to the price for shipping costs?
Of course GM employs people outside of the US, they sell most of their cars outside of the US. They have car showrooms outside of the US, they have logistics outside of th US.
That is like moaning about McDonalds employing people in London, I aint buying a Big Mac if your going to ship it, I want it in two minutes.
I'm actually in the market for a new car but GM and Chrysler won't even be considered. I'm thinking about buying a 2011 Mustang. Ford should be rewarded for their fiscal responsibility. Still I might buy another Toyota, in spite of their recent problems with recalls, which has given me pause, they make a pretty good car.
If you want to buy GM stock buy it.
If you don't believe in this country and you don't care if your dollars leave the country and Americans are unemployed... then buy GM.
Let me know how many shares you buy. I won't be buying any GM stock nor will I be purchasing any GM Products.
I don't support the theft of American Tax Dollars as perpetuated by Team Obama.
It's easy for people who don't live in the United States to criticize those of us who do and want to see our Country reach it's potential and take care of American Families.
The UK is a disaster. Good luck paying back your debt.
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