wow, so they stole our money, the governements, and opel of germany!
this keeps getting better and better huh nmofgm?

“GM could be forced to rescue Opel with U.S. taxpayer dollars. ”

This is what grinds my gears…

Its funny how gm is always getting into trouble. This “world class company”!
In my opinion, from what i’ve read about the fusion, and f150’s, i’d have to say Ford knows whats best. They DO have a winning formula, and man fords quality right now, is unmatched by any other domestic brand. NMOFGM, may the best car win.

Nah this is much worse …

-GM is hopeful that other European governments will help fund Opel’s turnaround plan-

if I was about to execute a turnaround plan at my company with only ‘hopeful’ funding rather than secured, than I would soon be out of a job……

It is annoying yes, but let’s keep something in perspective. Opel’s survival is good for GM and in turn good for the US.

Opel’s R/D has been incredibly important to a lot of the great cars now made by GM and sold here in the US.
Also, whatever sales Opel and Vauxhall make abroad is ultimately cash in GM’s coffers.

This just pisses me off! Why can they just take tax payer money so easily without our consent! GM doesn’t know that they are blindly helping FORD succeed!! How come they can repay them but not pay back the US for their loan? I thought they were in desperate need for money? They’re just all a bunch of lying thieves!

The proof is in the pudding.

nobody said restructuring was pretty…keep searching for the dark cloud in the silver lining…just to reiterate that headline, repaying on loans is a good…

…thing

So they are repaying the loans to eventually get more loans? Ok…

lol:-)) Hint for y’all by why this may be necessary: “Cadillac by Buick” – “Buick by Opel” in the beginning it was “Opel by Buick”;-)

DB9;-)

PS. See that wasn’t hard,it’s actually academic:-) Hey, it’s TGIF;-)

Where did this 2.2 billion come from? I was unaware of some magical turnaround in Opel’s fortunes over such a short period of time.

LMAO. This is no win for the govt drool-monkeys. They paid it back because the germans are pissed about the loan, they are trying to get other loans from other govts to cover the cash shortfall, and if they dont get them they are threatening to use dollars from the most stupid leadership on the planet ( the obamabush dipshìt brigade). Lets see … either those other govts will pony up or the US taxpayer will … hmmmmm.

posted by:Smegley Wanxalot

LMAO. This is no win for the govt drool-monkeys. They paid it back because the germans are pissed about the loan, they are trying to get other loans from other govts to cover the cash shortfall, and if they dont get them they are threatening to use dollars from the most stupid leadership on the planet ( the obamabush dipshìt brigade). Lets see … either those other govts will pony up or the US taxpayer will … hmmmmm.
____________________________________________

Cool Dawg, I think Smegs’ has finally lost the last tether to this reality. Almost like the main character in “the Scottish Play” note the similarities:

Is this a dagger which I see before me,
The handle toward my hand? Come, let me clutch thee.
I have thee not, and yet I see thee still.
Art thou not, fatal vision, sensible
To feeling as to sight? or art thou but
A dagger of the mind, a false creation,
Proceeding from the heat-oppressed brain?
I see thee yet, in form as palpable…

All his posts seem to be a feedback loop that repeats the above dialogue in his own words. I hope He doesn’t end up hurting anyone. What’s that Cool Dawg… antagonize it… don’t worry, I think8-/

DB9;-)

DumBìtch9 is a drool-monkey who bangs a pound of ground beef and then puts his dawg on his lap.

johnny, money came from our taxes. I was wrong about one thing: reading conditions for bankruptcy I thought that our taxes are not to be used outside of North or North America. I thought those rules will be broken a year from now, but they proved me wrong this year!

Smegley, he has to talk to his “dawg” because nobody else will f*cking listen to him.

Cruelty to animals.

Borat, help control the pet population… have DB9 spayed or neutered.

Borat, please have him put out of his misery.

I hope the workers of Opel walk out on Garbage Motors. What a joke, stab you in the back, when you already agreed to seller to Magna.
Garbage Motors, its your patriotic duty to buy a Ford or an import. The American right.

posted by:Smegley Wanxalot

DumBìtch9 is a drool-monkey who bangs a pound of ground beef and then puts his dawg on his lap.
____________________________________________________

C’mon Smegs’ you can do better than that. I’m disappointed, must be the heat oppressed brain;-) Dude, your jousting at shadows;-))

DB9;-)

PS. Cool Dawg isn’t a lap Dawg – nope;-) lol:-))

Oh Gee, look at that Cool Dawg, our “Fan” is mouthing off again along with Board Fool. Enema, find another place to play dude; you’re over your head and you don’t even know it, before y’all hitch your caboose best to know what’s pulling the train;-)

DB9;-)

PS. Cool Dawg says ditto:-))
PS. to the PS. For all who have left here in disgust – another one for y’all – the dearly departed;-(

There were no restrictions on our money that “invested” in the new GM. There were restrictions on the money that was loaned to GM before bankruptcy.

GM is a global company. It would be mighty shortsighted to tie their hands on their international operations.

When GM does wrong, they’re evil.

When GM does right, they’re evil.

Ok, got it. Thanks for clearing that up, guys.

Great, now our government owns a German company too. The best part is now the can keep doing all the R & D in Germany, instead of bringing that work to the US, you know the country that bailed them out. Pay your taxes boys GM needs the cash.

Our government also owns GM companies in South America, Canada, Mexico, Africa, Europe, Russia and Korea and a few more. GM is a global company just like Mercedes and BMW and others. Of course those companies have minimal R & D in the US.

Not selling Opel for peanuts was the right thing to do. There were two reasons GM went so far to sell it. They were forced to at the time due to bankruptcy AND the lack of automotive knowledge by the NEW US picked GM board. Luckily the board finally figured out a little about the industry (wish you guys would too) AND things are looking better for GM both here and in Europe. Getting rid of debt and becoming the low cost producer here in the states really helps.

Cannot wait for Mondays financial numbers.

I think the story went something like this.

GM- We need a loan. A loan being something that get paid back

Govt – Gives them a “loan”. However this loan is not to be used to support foreign operations. At the same time it is announced that Opel will be sold, because of the restructuring costs.

Govt – Then decides that GM should go bankrupt, and forgives the original loan.

- Bondholders completely wiped out, even though they are supposed to be the first to recover assets in a bankruptcy.

- Stockholders also wiped out

- UAW Continues to receive the same hourly rate, and pension.

Govt – Recapitalizes GM with 50 billion dollars, and the people are told Opel will be sold. US govt now owns 60% of GM. Now we are told that the money will be paid back when new GM stock is offered in several years. So when the market capitalization of GM is about 85 billion dollars(85*.6) we get back the 50 billion we put in. Ford’s market cap is 27 billion for 100% of the company, while Toyota’s is 120 billion. So its possible but highly unlikely that we will ever see that 50 billion again.

GM – We changed our minds we are going to keep Opel. So now they are keeping a money losing operation that is likely to remain that way for the near future, and it is being funded with your money. In the meantime the German Govt has called back their loans to Opel, which is being repaid with your money. With the exception of Canada no other country contributed to the bailout. So yes those assets should be sold to repay the US govt.

Lets see, so Gubment Motorz took our tax money and gave it to the german government. Yeppers, that sounds about right. The sooner that pseudo car company folds up like a cheap umbrella, the better. Good riddance to Garbage Motorz

I can agree with your timeline except the loan received before bankruptcy has not been forgiven. It is part of the $50 billion.

GM received $19 billion from TARP funds before bankruptcy and has another $30 billion after bankruptcy to draw from. GM still has at least $10 billion of that, that has not been drawn from.

The are using that money for continuing restructuring. They have been forced to buy Delphi plants out of those funds to keep their assembly plants running.

I believe GM will start paying back the loans this year. Looks to me like they got more money than they needed because the market is improving. (money given was based on worst case scenario as required by government)

Here is a great timeline thru bankruptcy

http://www.reuters.com/article/bondsNews/idUSLA64177720090710

I understand GM’s desire to retain 100% of Opel, but they knew that they would get in trouble with the German gov if they backed out. As for the US taxpayers funding the retention of Opel under GM, that kind of violates what the US gov had asked on GM, too. I hope the gov says NO to any additional funding at this point.

As for NMOFGM, his comment that GM should have have to repay the US gov… excuse me, but that’s what a “loan” is. You borrow something and then you pay it back. I’d love to borrow a lot of money without having to pay it back but it ain’t never going to happen (bad grammar was on purpose).

Where do you see a violation? Please back it up with something because I tried to find something and could not.

GM needs no additional funding. They will start paying back what they “borrowed” soon.

Not sure it is even considered a loan. We own part of GM.

Looks like GM’s China sales doubled in the 3rd quarter from last year. China accounts for 25% of its global sales up from 10% a year ago.

GM has placed all operations outside of NA under the management located in China (US personnel). However it looks like money made in China is not being used to support business outside of China. Not sure why.

if you think about it
we all sorta own gm, if you think about it from the taxpayer point of view