I guess Socialists are more profitable that Capitalists - GM is profitable State, National, International, posted by anti-stupid brigade, a resident of the Another Pleasanton neighborhood neighborhood, on May 17, 2010 at 10:40 am
GM turned a profit last quarter. It's first since 2007. Last year at this time, right before being taken over by those evil socialists in the obama administration, GM reported a quarterly loss of 3.4 billion, this year they reported a profit of 865 million. That's a turn around of 4.2 billion dollars. I guess later this year when GM goes public again with another IPO and the government is able to sell their stake in the company AT A PROFIT, we can expect a cavalcade of socialist doom and gloom rants on the boards. Obviously evil anti-capitalist fascist socialist whatevers are more profitable than your average harvard MBA. Go figure.
Once again, the teabagger rhetoric crashes and burns. Back to the drawing boards, folks...maybe you can post more rants about Obama's fake social security number or something...
Posted by Billy Durant, a resident of the Another Pleasanton neighborhood neighborhood, on May 17, 2010 at 11:01 am
How stupid, do you ever put any thought into what you write before it comes out of your mouth? GM's profit is a mirage on the backs of the US taxpayer. GM was absolved of all debt including but not limited to paying its creditors, bank debt, interest payments, pension contributions etc...........
Would you be positive at the end of the quarter if someone else paid your house payment, PG&E bills, cable, food, insurance, etc.????????
Posted by Amy, a resident of the Another Pleasanton neighborhood neighborhood, on May 17, 2010 at 11:47 am
Billy Durant is absolutely right!
Anti-Stupid must be a "kool-aid" salesman to believe the government controlled CNN report. Did you factor in all those millions that Obama loaned to GM to "retire" their debt? Hey Ant-Stupid, do you pay off your Visa bills with your Mastercard? "Look...My Visa balance is zero!!! Amazing!!!)
Posted by anti-stupid brigade, a resident of the Another Pleasanton neighborhood neighborhood, on May 17, 2010 at 12:30 pm
Wow. And that's what i call an epic stupid explosion. Amy and Billy, you're brilliant. Yes, the US government just handed over billions of dollars to GM with nothing in return. Oh, except a 61% ownership stake in the company. Forgot about that part. And when GM goes IPO and starts selling their shares on the market again and the US govt is able to unload that 61% stake at a profit, you'll be digging for more false analogies to the US supposedly paying off credit cards or mortgages or drinking koolaid or something. GM reported an OPERATING PROFIT. Meaning, they took in MORE MONEY in the previous 3 months than they burned running their company. Of course the bankruptcy last year cut their expenses and allowed them to turn a profit. That was the freaking point. The fact that if Mccain and you wingnuts had had their way there'd be no GM at all right now, that tens of thousands MORE people than now would've been thrown out of work, with dozens of GM plants closing and being liquidated, thousands more dealerships shutdown, etc. means nothing to you. You need to stick to your talking points that all government intervention is bad and that obama is a rabid socialist/fascist/communist out to destroy america, despite all evidence to the contrary. Hundreds of thousands of people owe their jobs directly to the GM bailout and the fact that the company is turning around, showing an operating profit, and is on the path to long-term sustainability is a major slap in the face to you folks who would've let GM die a painful death. The fact that the government stands to actually make a profit in the GM bailout means nothing to you.
But sure, stick to your false analogies about someone paying off credit cards or mortgages or something. It doesn't apply, but if it makes you feel better, stick with it. I'm sure all those GM employees who have still had jobs over the past year will be thinking of your analogy as they pay those bills...
Posted by SteveP, a resident of the Parkside neighborhood, on May 17, 2010 at 1:00 pm SteveP is a member (registered user) of PleasantonWeekly.com
"Hundreds of thousands of people owe their jobs directly to the GM bailout". Stupid, you forgot to mention 'union job'. The main reason your messiah bailed out GM was the union and their votes. Then, he cooked the books to make himself look like a brilliant economist----the same guy who's never held a real job outside of politics.
Once he retools GM to produce small, green, wind-up cars, they'll need another enormous bailout since no family wants to drive Pious wanna-bees.
Posted by Rat Turd, a resident of the Another Pleasanton neighborhood neighborhood, on May 17, 2010 at 1:14 pm
I will try and go real slow for you because as you say you are stupid. Look up Guarity and find out how much of GM insurance debt they currently own and how it is being administered? You find that the government is taking care of it. Did you ever hear of the VEBA plan being administered as part of the agreement with the government? The US government (our money because you are stupid I thought I will spell that out for you) just gave the UAW $476,000,000 so they could fund the underfunded pension plan. This was in response to the UAW threatening to sue the government because of pension laws and underfunding. Most of the talent at GM has left because they are limited on how much money they can make so how good do you feel about the quality of a GM product knowing it is being designed by second rate talent? Did you know that GM is expanding rapidly and building new plants? Yes sir, they sure are!......in China with US taxpayer money for sale into the emerging Chinese market which now is the world's largest market for automobiles.
Yes, you are correct that the government now owns 61% of GM and they paid $54,000,000,000 for a company with a total market cap of $ 2 billion.......genius if I ever saw it. Do your reading kid you are out of your league.
Posted by m, a resident of the Another Pleasanton neighborhood neighborhood, on May 17, 2010 at 2:44 pm
Doesn't the Toyota debacle play into the picture? American cars were in second place. Then, with Toyota stubbing its toes and basically ruining its brand overnight, American cars seemed a better value and SAFER. Maybe there are more forces at play than politics.
Posted by jimf01, a resident of another community, on May 17, 2010 at 7:41 pm
stupid - please try you rap with an ex-NUMMI employee. Do it face to face and you will probably get a knuckle sandwich.
But hey, I am a peaceful guy and this is a semi-anonymous forum, so you can call all the names you like and overlook just a few significant facts.
How about the current ownership of GM? Ah yeah, like 12% of the company handed to UAW's health plan. Current stockholders - zilch.
Obama takes over, Obama makes the rules. Unions who spent millions electing him get a rich reward, actual stockholders and bondholders get the shaft.
Obama takes over, Obama makes the rules. Nope, I don't need any additional California votes. Nancy P will keep her job (that McNerney guy might be in a bit of trouble), so we pull out of NUMMI. First plant we re-open? It's in the home state of VP Biden!
Posted by jimf01, a resident of another community, on May 17, 2010 at 7:47 pm
Anyone cay play the new stupid game! Here is the George Bush version: Wow, hey that Iraqi Palace in the middle of Baghdad, nice place. It is looking way better than when Saddam was in there. We did a great job!
We ignored just a few significant facts to arrive at this unassailable truth!