GM payback claims, a hoax

[FishingBack]

Do not trust the gov, GM, or the media that reported the "payback."

This article shows how those claims are misleading at best. Despicable.

http://www.forbes.com/2010/04/23/gen...ha-dalmia.html

But when Mr. Whitacre says GM has paid back the bailout money in full, he means not the entire $49.5 billion--the loan and the equity. In fact, he avoids all mention of that figure in his column. He means only the $6.7 billion loan amount.

But wait! Even that's not the full story given that GM, which has not yet broken even, much less turned a profit, can't pay even this puny amount from its own earnings.

As it turns out, the Obama administration put $13.4 billion of the aid money as "working capital" in an escrow account when the company was in bankruptcy. The company is using this escrow money--government money--to pay back the government loan.

[hookdown]

Yes, GM is very sneaky with this new ad campaign. I have bought GM vehicles the last two times out and three of our four are GM products. No more. With the bailout and the killing off of Pontiac, I am done with them.

[DogtorEvil]

http://www.youtube.com/watch?v=SOaS2...layer_embedded

[brtransplant]

Yes, GM is very sneaky with this new ad campaign. I have bought GM vehicles the last two times out and three of our four are GM products. No more. With the bailout and the killing off of Pontiac, I am done with them.

I know lots of folks that are also done with GM. This ad campaign exposes the CEO of GM as either a fool or a damn liar. Either way, he fits right in with the rest of the Democrat Party.

[hoppinmad]

I know lots of folks that are also done with GM. This ad campaign exposes the CEO of GM as either a fool or a damn liar. Either way, he fits right in with the rest of the Democrat Party.

Yep, anybody in cahoots with this administration lost my business too.

[DogtorEvil]

Repaying Taxpayers With Their Own Cash

http://www.nytimes.com/2010/05/02/bu...l?ref=business

Mr. Grassley heard back from the Treasury last Tuesday. Herbert M. Allison Jr., assistant secretary for financial stability, confirmed that the money G.M. used to repay its bailout loan had come from a taxpayer-financed escrow account held for the automaker at the Treasury.

[hookdown]

Yep, anybody in cahoots with this administration lost my business too.

The only thing is that of the three "U.S." manufacturers, I would still buy a Jeep. However, they took the money as well and so I am screwed on that. I suppose I will have to go back to a Mazda or possibly a Nissan next time...

[FishingBack]

I wouldn't feel so bad with a Ford, even if they are UAW. Anything but Guvmint Motors.

[duckbillplatty]

FB: Thanks for posting this. This is why I don't trust the government.

[mikedog]

I wouldn't feel so bad with a Ford, even if they are UAW. Anything but Guvmint Motors.

I had been considering a new GM truck, but this dishonest marketing campaign reminded me that no anti-union, limited government conservative could purchase a GM vehicle and sleep at night. Like you, it wouldn't bother me to purchase a Ford, except that the remodel to the F-150 doesn't appeal to me. I ended up purchasing a Toyota yesterday.

[Guisslapp]

I had been considering a new GM truck, but this dishonest marketing campaign reminded me that no anti-union, limited government conservative could purchase a GM vehicle and sleep at night. Like you, it wouldn't bother me to purchase a Ford, except that the remodel to the F-150 doesn't appeal to me. I ended up purchasing a Toyota yesterday.

The SVT Raptor w/ 6.2L EFI V8 sounds appealing, but the front "grill" and price tag are not so appealing.

[ITdrummer]

The only thing is that of the three "U.S." manufacturers, I would still buy a Jeep. However, they took the money as well and so I am screwed on that. I suppose I will have to go back to a Mazda or possibly a Nissan next time...

Whether they took the money or not, I drove a Wrangler for 7 years and would definitely own another one.

[Brian96]

http://www.youtube.com/watch?v=SOaS2...layer_embedded

Nice use of analogies in that video.

[mikedog]

Whether they took the money or not, I drove a Wrangler for 7 years and would definitely own another one.

I traded in my '04 Wrangler Rubicon yesterday for a new Tacoma. It was tough parting with the Jeep. I will likely by another Rubicon one day and use it as a third vehicle once we have the garage space.

[ITdrummer]

I traded in my '04 Wrangler Rubicon yesterday for a new Tacoma. It was tough parting with the Jeep. I will likely by another Rubicon one day and use it as a third vehicle once we have the garage space.

It was heart breaking to get rid of my Jeep. Mine was a '95 Wrangler. But times are tough and I needed something economical and dependable, so i got an '09 Jetta. I love it.