U.S. gov lost 11.2 billion on GM bailout.

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This is a very incomplete accounting of what we lost or gained on the packaged bankruptcy filing GM was offered.
If we include other direct and indirect costs of an unsupported Chapter 11 filing, we may well have come out ahead.
The share price that we got on sale is only a small part of the story.
 
Hopefully we will get some of it back when GM gets hit with fines for dragging its feet for a decade on recalls.Of course,the cost of these investigations isn't free either.
 
Saved jobs, preserved benefits for current retirees, and kept a foreign company from buying them while in Bankruptcy .

The Germans would have done the same but they already own a portion of their auto manufacturers.
 
Originally Posted By: BMWTurboDzl
Saved jobs, preserved benefits for current retirees, and kept a foreign company from buying them while in Bankruptcy .

The Germans would have done the same but they already own a portion of their auto manufacturers.


You forgot that we propped up suppliers who keep the rest of the auto industry humming... they were teetering pretty badly.

GM-the-sequel seems unfazed by their recent history-- which, when it comes to marketing, flash, and image, you have to be.
 
Originally Posted By: BMWTurboDzl
Saved jobs, preserved benefits for current retirees, and kept a foreign company from buying them while in Bankruptcy .

The Germans would have done the same but they already own a portion of their auto manufacturers.

In response to the OP, the U.S. Gov't didn't lose $11,200,000,000.00, WE lost $11,200,000,000.00 through their decisions.

BMWDzl, don't forget, bankruptcy doesn't necessarily mean a company is out of business or jobs are lost. Many go through the restructuring process with staff largely intact. You're def. right about the retiree benefits though, for better or worse those would not have looked the same afterward.
 
Once is enough for us tax payers. Now up to GM to start producing good vehicles and CEO pay should be tied to profits and not just for existing. Ed
 
17,447,321,527,551.15
- 11,200,000,000.00
_____________________
17,436,121,527,551.15

So even if you loath GM because you feel somehow cheated,that was not even a penny in the pot. It did help keep jobs, it did help small suppliers, it did help retirees. It kept some manufacturing open here and kept money flowing.
 
Originally Posted By: gofast182
Originally Posted By: BMWTurboDzl
Saved jobs, preserved benefits for current retirees, and kept a foreign company from buying them while in Bankruptcy .

The Germans would have done the same but they already own a portion of their auto manufacturers.

In response to the OP, the U.S. Gov't didn't lose $11,200,000,000.00, WE lost $11,200,000,000.00 through their decisions.

BMWDzl, don't forget, bankruptcy doesn't necessarily mean a company is out of business or jobs are lost. Many go through the restructuring process with staff largely intact. You're def. right about the retiree benefits though, for better or worse those would not have looked the same afterward.


This is not really true neither. The money didn't just vanish. The govt paid it to someone which likely includes persons within that "we" group you describe (ie some taxpayers gained and some lost). We taxpayers as a group may have lost but certain groups or individuals in our group gained.
 
Originally Posted By: ls1mike
17,447,321,527,551.15
- 11,200,000,000.00
_____________________
17,436,121,527,551.15

So even if you loath GM because you feel somehow cheated,that was not even a penny in the pot. It did help keep jobs, it did help small suppliers, it did help retirees. It kept some manufacturing open here and kept money flowing.


That should be adding to the nation's debt, not subtracting...

but yeah, I'm all for supporting large corporations and unions that keep the detrimental status quo alive because I love freedumb. Not just GM, btw.
 
Originally Posted By: accent2012
Originally Posted By: ls1mike
17,447,321,527,551.15
- 11,200,000,000.00
_____________________
17,436,121,527,551.15

So even if you loath GM because you feel somehow cheated,that was not even a penny in the pot. It did help keep jobs, it did help small suppliers, it did help retirees. It kept some manufacturing open here and kept money flowing.


That should be adding to the nation's debt, not subtracting...

That is a figure post bailout. I can only assume that total debt includes bailout, but I can't verify it.
 
Why do they not include all of the corporate/employee income/auto tax revenues they've collected since in that calculation? Or the dividends GM stock paid. Or the unemployment insurance they didn't have to pay to the GM employees that would have been laid off?

I don't care about GM or the US government, but I hate articles that don't give you all the facts.
 
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