Looks like GM is very healthy
 

and this turn around was done under government control.
So much for the myth that government cannot run busnesses as well as the private sector.


http://www.washingtonpost.com/wp-dyn...022408407.html

I'm sure this story will be featured front-and-center by Mr. Limbaugh.

Nah old fatass limburger is too busy critiquing the First Lady.

If true, then why not have government take over business?

I mean, in fact, not just in shadow?

I'd like to see evidence of the Feds decisions creating wealth. Are they reversing the drastic cut in new UAW compensation?

Pete

I, personally, believe government and big businesses such as GM have been joined at the hip to some degree for a long time. Lobbyist influence and all of that.

At any rate, I'm glad to see GM back in the black. To me, it's a good sign.

Dave

Holy crap Blue - agreement! Cheers.

I drove through Youngstown yesterday, first time in a long time. It really does look bad.

Pete

It looks much better through your rear-view mirror though.

No kidding, sadly.

To be fair I went right through downtown, and that's often the worst part.

And hey everyone, GMs doing well. Buy an American car for goodness sakes! My dads' LaCrosse (the 'e' on the end makes it fancy :)) is a really nice car that stands up to foriegn comparison.

As long as one is avail in the class you're looking at of course ;)

Pete

I need to age a few years before I enter Buick's targeted demographic (in this country anyway). I've heard Buick's are considered the cats meow in China.

Buicks are the Cadillacs of China :D

I drive old man cars lol.

Pete

I am getting bloody tired of living in Baghdad on the Potomac, BG&E can't keep the power on for 10 minutes at a time, another shining example of efficient private industry.

:d .......

Youngstown is, however, a major exporter of football coaches.

http://www.exit83.com/2010/12/youngs...tball-coaches/

http://collegefootball.rivals.com/co...asp?CID=825102

One not mentioned in the article is Jim Tressell.

Regards,

D-Ray

Oh, those people LIVE for football, with baseball trailing a close second. It's the place to be on the rare occasion that the Browns make it to the Superbowl. Until they (inevitably) lose, anyhow.

Dave

Believe it or not, Pete, it's been worse. At least now a lot of the mess is gone. Where there were once dilapidated and abandoned steel mills there are now empty fields, with a few relatively new-ish businesses here and there.
And the old abandoned and burned out neighborhoods have been razed. It's still in sad shape, but twenty years ago, it looked like a war zone. An unbelievable mess, rivaling the ruins of Detroit.

A long, long way to go before it's a decent place to live again, though.
I'm glad to have gotten a glimpse of the tail end of Y'towns glory days as a kid though.

It's sad knowing future generations will grow up having never seen Americas heavy industry at the height of it's glory, or met the men who worked the mighty mills. But I have the memory to reflect on.:)

Dave

I suppose theat Flicker & Flash had the excuse of high winds for the lousy performance yesterday, but as they have defaced nearly every tree in Maryland I do not see why they cannot maintain the electicity. It was off - on - off - on - off - on all bloody afternoon. The 13 years I lived in Ottawa there was one power outage.

Agreed, but I don't think there's room for 'real' men in the brave new America.

Pete

Yeah...the Chinese are doing a wonderful job with the "General". :rolleyes:

Who were, in large part----union.

Dave

Only one person could have wrote this...Google Translate.

OK. GM is doing very well. How much have they paid back the tax payers...But i hear the UAW is doing very well...

Some people seem to have overlooked the pile of money given to VW to open their plant in Dixie. Or the myriad of tax breaks given to Toyota and Nissan.

If the company is doing well, it makes sense that the employees should also be doing well. Pete likes to tell us that corporations are made up of people. Well, unions are made up of their members. And when the company is making money, the people putting the product out of the door should be making money. Unfortunately, when the employees are not represented, that often does not happen.

Regards,

D-Ray

You are simply misinformed but it appears that you know that. Why do you persist? Does it get your yayas out? It's kinda comical but ultimately sad that you've taken the easy way out by letting Faux and Friends, Rush and the Blubberer do your thinking for you.

I see your boy genius Romney now wants the government to sell all their GM stock. Hey even I know that dumping 30% of the GM shares on the market alll at once is a pretty stupid move if you hope to get a good price.

I've been referenced :D

Pete

Time for your very own wiki page Pete.:cool:

Woo Hoo!

Is it just me, or is our discussion here this AM very good?

Pete

I can't tell through this vicodin and mint julep haze that I'm subjecting myself to this mornin'.:) Time for my seven and a half winks now.:(

I'm tellin' you Bob, a coupla Somas and a bottle of Jack :) Seriously hope you get some rest.

Pete

When we rely on authoritative sources, of course the discussion improves. :rolleyes:

Regards,

D-Ray

LOL!

Pete

I recall a time when I was having trouble sleeping due to work related stress. I mentioned to our doctor that the over the counter sleep aids seemed to help. He said yeah, they will help clog your arteries quicker than anything.

http://www.latimes.com/business/auto...,2392686.story

22% increase from last year in auto sales overall.:)

But still well below optimum levels. Oh, BTW the F150 was number 1 and the Silverado was number 2. Those aren't the vehicles that the green folks want. Also, the Aveo sold 3 units. Here are some other low selling GM products:

The Volt had sales of 1760 units. Compare that to the F150 sales of ~55,000 units. I wonder what is Gm's break even point on Volt sales?

I can't believe they sold 3 Aveos. The new Fiesta is way better.

Pete

No idea but if we win the lottery I would trade both Impalas in on a pair of Volts.

I realize that not all pickups are bought by folks who need trucks but I imagine the majority are work vehicles and I guess most greenies know that.

Hmmm.... People use these for business, right? Must mean the economy's getting better. ;)

John

The market still doesn't seem convinced. GM stock is trading at about $19/share. Recall that the IPO price in Nov 2010 was $33.

Its also interesting to note that its likely that the government, which still owns about 500 million shares of GM preferred stock as part of the loan / bankruptcy deal, will likely delay the sale of those shares yet again. The stock had a par value of $26/share. However, for the Feds to break even (sell the stock for the amount of money that the was loaned to GM in exchange for the stock) the shares would need to be sold for about $56. So, if the government does proceed with the sale too soon, the US taxpayer will have essentially purchased GM's bad debt.

http://g.foolcdn.com/charts/caps/thu...E=0=k=07112012

EDIT - added the chart above, comparing GM's stock performance (blue) to the S&P 500 (red).

Still far preferable to "The Romney Alternative".

John