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How many knew that our GM bailout money has been going to bailout foreign operations?; SEC report reveals the dirty details
Topic Started: Oct 16 2012, 08:31 AM (1,044 Views)
Berton
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MrsS
Oct 17 2012, 01:13 AM

Quote:
 
.....Europe: Black Hole Opel......



I really wonder why GM didn`t sell Opel 3 years ago? They got a good offer.....


Quote:
 
In 2009, GM nearly sold Opel to a group lead by auto-parts supplier Magna International Inc., a deal that had been pushed by the German government as GM spiraled into bankruptcy. Under that deal, the consortium would have paid GM €300 million ($437 million) in cash, preferred stock valued at €200 million and invested €500 million in Opel.


Why keep a brand that produces only losses? Do you see a reason for that?

Probably the same reason they stopped the Saturn line here in the US.

When politics and politicians are in charge there are often dumb decisions made.


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tomdrobin
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Oct 17 2012, 12:01 AM
Didn't read all the links but the GM bailout was a union bailout, period. Everyone else got shafted, including the taxpayers.
I would agree on your union bailout statement. They should have got far more concessions from the UAW. But, it would have caused the taxpayers a bundle either way, at least with the bailout they got some of their money back and perhaps will get the rest over time. But, the money spent on Pension Guarantees, food stamps, unemployment would be down the drain. And, don't forget when people are working paying taxes it produces government revenue in the form of taxes, the entitlements are just out the door.
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