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General Motors investment

Soapweed

Well-known member
Bruce, I usually take the time to check facts before forwarding them; when I received the article from you about GM, I sent it to a co-worker who forwarded it to a friend who makes of “hobby” of checking facts/fiction. See his response below:



Vicki



I AM PRETY SURE THAT THE INFORMATION IN THIS ARTICLE IS CORRECT, BUT THERE IS ONE GLARING FACT THAT IS OMITTED. GENERAL MOTORS IS NOW THE PROUD OWNER OF 23 MAJOR MANUFACTURING FACILITIES IN CHINA. OVER 70% OF GM’S PRODUCTION IS OUTSIDE THE US, INCLUDING ENGINEERING, DESIGN, PARTS MANUFACTURING, ETC. WE HAVE POURED $50 BILLION INTO MOSTLY FOREIGN JOBS. THAT IS THE SADDEST PART OF THE WHOLE PICTURE. I CAN SEND YOU A CLIP OF THE PRESIDENT OF GM BRAGGING ABOUT THESE FACTS. WE ARE PROPPING UP THE COMMUNISTS IN CHINA AND THE GOVERNMENTS OF SEVERAL OTHER SOCIALIST COUNTRIES WITH OUR TAX DOLLARS. LET ME KNOW IF YOU NEED ANY MORE SPECIFIC INFORMATION.

BILL

P.S. THEY ARE ALSO TRYING TO COMPLETELY DESTROY THE FORMER SEAL WHO WROTE THE BOOK ON THE RAID IN AFGHANISTAN THAT BROUGHT DOWN OSAMA BIN LADEN. HE (NAVY SEAL) MAY HAVE VIOLATED THE RULES BY LEAKING SECRET INFORMATION, BUT THE FACT IS THAT OBAMA WAS NOT THE GUY WHO PUT THE PLAN TOGETHER TO GET BIN LADEN. HE WAS ONLY A RELUCTANT FACILITATOR IN MAKING THE RELUCTANT DECISION – AFTER MUCH URGING – TO ALLOW THE PLAN TO GO FORWARD. THE DEMS’ MANTRA NOW IS, “GM IS ALIVE AND BIN LADEN IS DEAD”, AS IF IT WAS THEIR IDEA IN THE FIRST PLACE. I KNOW THAT ALL SANE VOTERS WILL SEE THROUGH THIS FOG OF MIS-INFORMATION. BUT I ALSO KNOW THAT THE LEFTISTS WILL NEVER ACCEDE TO THE TRUTH. THEY JUST DON’T HAVE TRUTH IN THEM.



Remember how Obama keeps telling us how he saved GM, and how our economy is getting better, it seems the car company he bought is being saved by Gov. employees using our tax money to buy new cars. 79% of GM’s sales last month was government purchased.

GM’s sales figures for last month were the best since 2008 , up 16% for the month of June. YIPPEE! Well, wait just a minute. It seems that those rosy sales figures are due primarily to a 79% increase in fleet sales to the U.S. government in June. That’s right. Our tax dollars are being used to pump up GM’s sales figures ahead of next month’s quarterly report so that Dear Leader can point to Government Motors as a huge success. The incestuous relationship between GM, the UAW and the Regime has never been more glaringly apparent. I’ve said it before and I’ll say it again. GM is unsustainable without government subsidies and will ultimately go bust again, taking billions of taxpayer dollars down with it.

We bailed out General Motors to the tune of $50 billion. $30 billion of this is effectively a loss, mostly sunk into fattening the United Auto Workers union—fierce Obama supporters—while the actual bondholders were shown the elevator shaft.

Meanwhile, as NewsBusters reports, “We the Taxpayers are still stuck holding 500+ million shares of GM stock. Which we need to sell at $53 per. Which debuted post-bankruptcy at $33 per. And which is currently trading at just over $20 per. Meaning we’ll lose about $15 billion.”

But it gets better. Despite the overwhelming negatives, the tiny bright spot of positive June sales numbers is being heralded by Obama and the leftist press as proof the auto bailout was a “success.”

Obama is now campaigning on the “success” of – the government buying cars from…the government’s car company. With our money.

Americanvision says That’s like you setting up a lemonade stand for your kids. You buy them the lemons, sugar, cups and pitchers – and then buy most of the lemonade yourself.

The pressure is on Government Motors to appear financially strong as this may be the last earnings report before November elections and sets the stage for how “successful” GM is. One of GM’s past tricks to help fudge earnings numbers has been to stuff truck inventory channels. Old habits die hard at GM. According to a Bloomberg report, “GM said inventory of its full-size pickups, which will be refreshed next year, climbed to 238,194 at the end of June, a 135 days’ supply, up from 116 days at the end of May.” 135 days’ supply is huge, the accepted norm is a 60 day supply. The trick here is that GM records revenue when vehicles go into dealerships.
 

gmacbeef

Well-known member
the Republicans need to get this out to the public to show what a failure this bunch of hypocrites these people are.
 

Faster horses

Well-known member
You are right, GMAC. I agree. In the meantime, I'm going to copy and
paste the article to send to all on my contact list.

We are being degraded daily. Obama thinks we are too dumb to know
what he's up to. :mad:

It is up to us to get the opposing word out, for sure.
 
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