GM hourly workers get $4,000 bonuses! (party, retirements, banks, problems)

[shorebaby]

Originally Posted by HistorianDude

They can't. That's up to the government to sell their stock and realize the profit (yes... profit) we've made off the bailout.

Mmmm profit, GM still owes $33 billion.......

[HistorianDude]

Originally Posted by Backspace

And how much money does GM still owe the US tax payer?

Nothing, actually.

The $6.7 billion loan has been paid back in full.

The rest is shareholder equity.

[HistorianDude]

Originally Posted by shorebaby

Mmmm profit, GM still owes $33 billion.......

No.

We own something more than $33 billion in GM stock. GM owes us nothing for that.

[shorebaby]

Originally Posted by HistorianDude

Nothing, actually.

The $6.7 billion loan has been paid back in full.

The rest is shareholder equity.

And there is no profit (or loss) until those equities are sold.

[HistorianDude]

Originally Posted by kevinm

If this were for the "common good" the cars would have been sold for COST and their would not be any profit to distribute to workers.

Darn it. We're not communists after all.

Who knew?

[Backspace]

Originally Posted by HistorianDude

Don't you mean when George took over the company?

Sounds like you have your history all screwed up, wanna do some reading real quick?

[shorebaby]

Originally Posted by HistorianDude

No.

We own something more than $33 billion in GM stock. GM owes us nothing for that.

Nope, only if we sell that stock at a certain price. As of now we have no profit......

[HistorianDude]

Originally Posted by shorebaby

And there is no profit (or loss) until those equities are sold.

Wrong again, ranger.

You didn't gander at that "How to read a P&L" yet it seems.

[shorebaby]

Originally Posted by HistorianDude

Wrong again, ranger.

You didn't gander at that "How to read a P&L" yet it seems.

Nope, I am right sorry.

[Backspace]

Originally Posted by HistorianDude

No.

We own something more than $33 billion in GM stock. GM owes us nothing for that.

We own GM stock because everyone knows that if we SOLD it to recoup our losses that GM would tank just like it was doing before. Didn't you claim to be good at accounting earlier?