GM Wants the US Govt to Sell its Stake in the Co; Obama Admin Says NO

[BigBadBrian]

CHICAGO (MarketWatch) -- The Treasury Department is resisting General Motors' push for the government to sell off its stake in the auto maker, The Wall Street Journal reports. Following a $50 billion bailout in 2009, the U.S. taxpayers now own almost 27% of the company. But the newspaper said GM executives are now chafing at that, saying it hurts the company's reputation and its ability to attract top talent due to pay restrictions. Earlier this year, GM GM -1.02% presented a plan to repurchase 200 million of the 500 million shares the U.S. holds with the balance being sold via a public offering. But officials at the Treasury Department were not interested as selling now would lead to a multibillion dollar loss for the government, the newspaper noted.

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[BigBadBrian]

Massah Obama won't let GM off the Plantation. It's just a matter of time before GM is gone for good. Ford Motor Co., on the other hand, is doing quite well without government interference.

[ELVIS]

Chrysler is doing much better as well...

[FORD]

Chrysler is doing much better as well...

You mean the foreign owned Chrysler? (First the Germans, now the Italians. And bailed out by the BCE before that)

[ELVIS]

That's the one...

[Nickdfresh]

I can't wait 'til they bring back Alfa...

[Nitro Express]

I can't wait 'til they bring back Alfa...

I had a Spider years ago. It was a fun zip around car. Italian cars are rust traps though. Best to keep in the garage during the Buffalo winters.

[Dr. Love]

fuck them... they could run their company worth a damn and deserved to fail, but begged for our money. Why should we sell at a loss? Why should we sell at all! They wanted to suck on the government's tit when it was convenient and cry like little babies when it isn't convenient anymore.

Let them deal with the consequences.

[Nickdfresh]

I had a Spider years ago. It was a fun zip around car. Italian cars are rust traps though. Best to keep in the garage during the Buffalo winters.

There was sort of a boutique used car dealership in Williamsville, NY that catered to monied car geeks that sold Alfas up into the early 2000's I think....

[Nickdfresh]

fuck them... they could run their company worth a damn and deserved to fail, but begged for our money. Why should we sell at a loss? Why should we sell at all! They wanted to suck on the government's tit when it was convenient and cry like little babies when it isn't convenient anymore.

Let them deal with the consequences.

Yes yes! Send it all to China! Fuck the unemployed!

[Redballjets88]

Why is Obama obsessed with having the government in the business of doing business? I forgot what part of the constitution outlined this

[clarathecarrot]

Why is Obama obsessed with having the government in the business of doing business? I forgot what part of the constitution outlined this

While important talkers and thinkers like Nick Dee Fresh were pontificating the essentials of the intercontinental manifestations of the presidency and all the huge news of overseas indication of market idiosyncratic,... HEY LOOK AT THE MOON!!! ...and he looked....

The local city councils in your towns and the little tiny mice of the erosion of the constitution made it a profit business.

Then they stole your tax dollars and bought off your representatives and their strong arm robbery team, the cops, with hopes of even more cash and less substance.

...and here we are, traffic laws have been elevated to felonies, because they can rape easy money with rapeish type laws,...nobody gets their day in court, the constitution is downgraded to old news ...just like Nick Dee Fresh wants.

A American government that has more employees than the working class who pay they're wages...and we all know what that means..don't we...if not see, Roman Empire Fall.

The BIG PLAN ...it's working...

P.S. Fuck You Nick....ahhhh, good times...

[clarathecarrot]

I mean I always buy the Railroads first, don't you all....? then the airlines ( Clittin on the TV talking about the greatness of deregulation commie fag that he is)...then maybe Baltic Avenue for fun... then the Medical operations, NATION WIDE!!!!


YAHTZEE!!!

[FORD]

Why is Obama obsessed with having the government in the business of doing business? I forgot what part of the constitution outlined this

Well, protecting what little still remains of the manufacturing sector of this country certainly falls under "promote the general welfare", right?

Do I believe the government should keep a permanent stake in GM? No.

Do I believe the bailout was absolutely necessary? Yes.

Because unlike the Wall Street banks and the criminal insurance agencies, at least GM actually produces something. Granted, they could do it better, and produce more efficient vehicles, but it would be impossible to do so if they ceased to exist at all.

And I still can't get over the irony of Willard Mittens Romney writing his article for the "liberal" New York Times titled "Let Detroit Go Bankrupt" when his very reason for being an inheritance rich fuck was his father being the CEO of American Motors.

[clarathecarrot]

It was a joke or you would have bought a stimulus car if you didn't you were one of the smart ones.

Free MONEY!!! for CLUNKERS!!!!

Best part ......free money junkies giving away their 400$ ride for a 15,000 loan the gubment knew they couldn't afford.... and 75% have defaulted on their loans....THE PLAN!!!!

The bail out is no different than the car scam...same trick...

I call it all,... THE GREAT PICK PLAY!!!

Nick needs to get back on and tell us all again about how he talks about all the BIG SUBJECTS that matter more than.... hey where is your toilet paper..?

I bet Nick gets toxic shock on his vagina, if uses the kind with the pink flowers on it.