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No, that's not true.Quote:
Originally Posted by garyshell
http://www.reuters.com/article/idUST...7?pageNumber=2
Quote:
The U.S. Treasury will remain GM's largest shareholder for now. U.S. officials have said unloading the entire stake is likely to take several years.
The stock price will need to rise by 47 percent to $48.58 -- about what it costs to fill the gasoline tank of a 2010 Chevy Malibu LS 4-door sedan -- for the U.S. government to break even on its follow-on stock sales.
No they didn't. They raised $20.1 Billion. Well short of the total bailout.Quote:
Originally Posted by garyshell
in case you don't believe me...http://www.reuters.com/article/idUSTRE6AB43H20101117
Not very likely!Quote:
The stock price will need to rise by 47 percent to $48.58 -- about what it costs to fill the gasoline tank of a 2010 Chevy Malibu LS 4-door sedan -- for the U.S. government to break even on its follow-on stock sales.
Actually I have. But not here as this is a INDY CAR FORUM!!!Quote:
Originally Posted by Hoop-98
EXACTLY!! So please take your misguided and uninformed philosophy of GM's "obligation" to you to a political forum. I don't think anybody here wants to hear your sob story.Quote:
Originally Posted by anthonyvop
Quote:
Originally Posted by garyshell
Obviously, you stopped reading at the first sentence in my post.Quote:
Originally Posted by anthonyvop
Gary
It would appear you also stopped reading at the first sentence of my post.Quote:
Originally Posted by chuck34
In the second sentence, I said I had told the government to hold on to my share so anthony could get paid first and maybe he'd stop bitchin'.
Gary
"They raised $20.1 Billion"
The most GM will be investing in their IndyCar program is 0.2% of that amount. Could be closer to 0.1%.
Do you think GM spends more on U.S. marketing than Nissan? In the recession year of 2009, Nissan invested close to $700M on that expense. GM just elected to add a $20-$40M marketing expense on IndyCar. It will sell cars.
Gary gets his money back in six months, when the remaining GM shares are approved for public trade. If the economy and the sound guidance of GM continues to follow recent trends, the taxpayers will be refunded in full. I presume the Treasury keeps the excess if the share price commands it.
If there was a checkbox asking me to donate 0.1% of my taxes to fund some entertaining research project that created jobs and prevented a massive private sector collapse, I'd have enough reasons to sign up.
Correct, the Treasury does stand to make tons of money off this and the other bailouts. But the thing that gets me is that all the Feds did was print more money and increase the deficit. Not a single tax payer has paid a dollar more to fund the bailouts.Quote:
Originally Posted by Enjun Pullr
If it can be separated from one person's obsession, this really does put GM in a good position in terms of marketing awareness and correlation to their product. That is EXACTLY why Lotus is getting involved, to raise their brand awareness. Some (Someone actually) would have you believe that they must pay back their debt BEFORE they grow their company. Apparently oblivious to the fact a company must profit before it can repay debts. This person apparently believes that is possible without marketing and advertising.
Cheers, that's the way the picture looked to me. If I'm not mistaken, the auto manufacturer subsidies found consensus across the political and financial spectrums.
Diminished marketing investment and declining sales leaves us all to watch the money disappear. Then the jobs.
Geez Google is failing me, it can't seem to find all those posts, just keeps finding your Indycar complaints about GM :)Quote:
Originally Posted by anthonyvop