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WASHINGTON -- Don't expect to see a lot of newspapers and websites with this headline: "Big Government Bailout Worked." But it would be entirely accurate.
The actual headlines make the point. "Demand for fuel-efficient cars helps GM to $3.2 billion profit," declared The Washington Post. "GM Reports Earnings Tripled in First Quarter, as Revenue Jumped 15 Percent," reported The New York Times.
WASHINGTON -- Don't expect to see a lot of newspapers and websites with this headline: "Big Government Bailout Worked." But it would be entirely accurate.
The actual headlines make the point. "Demand for fuel-efficient cars helps GM to $3.2 billion profit," declared The Washington Post. "GM Reports Earnings Tripled in First Quarter, as Revenue Jumped 15 Percent," reported The New York Times.
Basically they took 800 Billion from the tax payers and bailed out corporations who don't pay taxes. How does that help me or anyone else, again?
GM srtill owes the tax payer a ton of cash. That wasn't a profit, it is theft from the US tax payer. What about them not paying any taxes with all that profit? That's ok with the Progs because Obama is GM's daddy?
GM srtill owes the tax payer a ton of cash. That wasn't a profit, it is theft from the US tax payer. What about them not paying any taxes with all that profit? That's ok with the Progs because Obama is GM's daddy?
False. Democrats aren't owned by corporations. They're all about the middle class
WASHINGTON -- Don't expect to see a lot of newspapers and websites with this headline: "Big Government Bailout Worked." But it would be entirely accurate.
The actual headlines make the point. "Demand for fuel-efficient cars helps GM to $3.2 billion profit," declared The Washington Post. "GM Reports Earnings Tripled in First Quarter, as Revenue Jumped 15 Percent," reported The New York Times.
WASHINGTON -- Don't expect to see a lot of newspapers and websites with this headline: "Big Government Bailout Worked." But it would be entirely accurate.
The actual headlines make the point. "Demand for fuel-efficient cars helps GM to $3.2 billion profit," declared The Washington Post. "GM Reports Earnings Tripled in First Quarter, as Revenue Jumped 15 Percent," reported The New York Times.
i might agree with that, except that ford has been profitable for nearly two years now, and they didnt take a dime in bailout money. also the government is expecting to LOSE about $60 billion total in unrepaid bailout loans from both gm and chrysler. had the government not stepped in when those companies filed for bankruptcy protection, those companies would have been forced to reorganize and would have come out of bankruptcy stronger overall. however since the government stepped in, both companies are basically the same as when they went into bankruptcy.
WASHINGTON -- Don't expect to see a lot of newspapers and websites with this headline: "Big Government Bailout Worked." But it would be entirely accurate.
The actual headlines make the point. "Demand for fuel-efficient cars helps GM to $3.2 billion profit," declared The Washington Post. "GM Reports Earnings Tripled in First Quarter, as Revenue Jumped 15 Percent," reported The New York Times.
Since the Chevy Volt went on the market in late 2010 GM has sold 2029 units.
At $41,000.00 a copy that's roughly $83 million in gross profits from the sale of this car. But the taxpayer pays GM $7500.00 per car, or a total of about $15 million. So the real gross profit to GM is $68 million. Only GM knows what the actual net profit is. So if GM made a net profit of $3.2 billion in the first quarter, the Volt contributed slightly to that profit. The Post and the NYT are crowing over very little.
The bailouts of GM & Chrysler were unconscionable in my opinion. It was grossly unfair to Ford and to other - foreign - corporations who manufacture in the US and received nothing, it was unfair to taxpayers who will end up losing on the deal and it was bad economics to prop up corporations who have been basket cases for years but who showed no willingness to fix their own problems.
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