GM to repay loans Weds

[SteveR]

Al, see if you can confirm something. I heard that $6.7 billion of the alleged payback was in stock options for GM and not in cash. I'm curious if that's true or not.

[BigAls87Z28]

since there is no stock and since the treasury owns 60% of GM I some how doubt it but ill look.

[Tsar]

Originally Posted by BigAls87Z28

GM will post its Q1 profits early May.
The Q4 loss was due to a one time tax charge. Only part of GM that isnt making money is GM Europe because they are rolling out tons of new product.
Like I said before, Jan 1st, 2010 the VEBA contract that GM signed with the UAW in late 2007 was going to put GM into the black as planned back in 2007, using those figures.

Nearly 5 billion yearly loss, is a loss - semantics don't matter. What's worse is it has been going on since 2004. It's so sad that my savings account has made more profit last year than GM has in half a decade. There's no positive spin on this.

Q1 profit doesn't mean there will be yearly profit, they still have to to mess everything up.

[BigAls87Z28]

A loss is a loss,, doesnt matter what or how it happend. But that means little now, in the present and going into the future if they start making a profit. Now one quarter of profit does not mean a turn around, but we shall only see.

[12secondv6]

Soooooo, GM is still crap huh?

[SteveR]

Elizabeth Warren, the Chairwoman for the Senate Oversight Committee for the TARP Program confirmed what I heard, that GM instead of repaying the loan with cash, traded a large percentage of debt for virtual stocks and she said "those GM commercials (referring to the ones about GM paying back the loan with interest) aren't true".

[NastyEllEssWon]

so much for that watercooler eh?

[Tsar]

Originally Posted by SteveR

Elizabeth Warren, the Chairwoman for the Senate Oversight Committee for the TARP Program confirmed what I heard, that GM instead of repaying the loan with cash, traded a large percentage of debt for virtual stocks and she said "those GM commercials (referring to the ones about GM paying back the loan with interest) aren't true".

Clearly, she has some fox news ties, and she is simply a hater who wants to keep GM down. Do not believe her, Al knows better!

Originally Posted by NastyEllEssWon

so much for that watercooler eh?

Must have been broken on that day

Originally Posted by BigAls87Z28

No ****. Look I don't have to explain myself regarding GM just that I enjoy my little job that involves talking and interacting with GM employees.

Im a military service memeber but i still cant tell you **** about the stuff thats above my pay grade one thing that i have learned though is that you will know what they want you to know. No matter what level you are on, there is someone above you that knows more of the truth and is telling you what you want to hear or not telling you what they dont want you to hear. Not bashing you at all Al, keep giving us your (and the GM employees that you know) version of whats going on.

[jims69camaro]

Originally Posted by Little G

Thank you Toyota!!

g

yeah, that'll work. it takes a japanese company stepping on their dicks for GM to get out from under... what does that say about those who drive japanese cars?

[transmaro93]

Originally Posted by SteveR

Elizabeth Warren, the Chairwoman for the Senate Oversight Committee for the TARP Program confirmed what I heard, that GM instead of repaying the loan with cash, traded a large percentage of debt for virtual stocks and she said "those GM commercials (referring to the ones about GM paying back the loan with interest) aren't true".

hmm i wonder if beck was lieing and making this up too when he reported on it.... cant anybody tell the truth anymore... people aren't as dumb as these govt and big business big wigs think we are. Just say that we are looking toward an upward direction and hope it keeps on and we will someday make a turn around. I really think the govt has no plans to let GM go.... but thats just my 2 cents

[NastyEllEssWon]

Originally Posted by transmaro93

hmm i wonder if beck was lieing and making this up too when he reported on it.... cant anybody tell the truth anymore... people aren't as dumb as these govt and big business big wigs think we are. Just say that we are looking toward an upward direction and hope it keeps on and we will someday make a turn around. I really think the govt has no plans to let GM go.... but thats just my 2 cents

lol if anyone ever thought the government was going to let GM become a serperate company again then theyre mistaken. Government Motors is here to stay and push their hybrids and small models upon us. I guarantee the corvette will be a hybrid by 2020

[BigAls87Z28]

iI think you guys are a little paranoid. They have done nothing to force GM to make more hybrids or small cars. In fact is say that GM makes less hybrid models now then they did 3 years ago.
Malibu Silverado and Sierra hybrids are gone as are the Vue and Aura hybrids.
I don't think that the treasury will ever sell all of its shares of GM though but will not maintain a controlling interest

[NastyEllEssWon]

Originally Posted by BigAls87Z28

iI think you guys are a little paranoid. They have done nothing to force GM to make more hybrids or small cars. In fact is say that GM makes less hybrid models now then they did 3 years ago.
Malibu Silverado and Sierra hybrids are gone as are the Vue and Aura hybrids.
I don't think that the treasury will ever sell all of its shares of GM though but will not maintain a controlling interest

and some would say that you put too much faith into an organization that has screwed over the public willingly, in plain site for the last 50 years and could care less about safety or public interest and long as it lines their pockets with silver....


the sad part is from that description you wouldnt be able to figure out which im talking about GM or the GOVERNMENT...which is a bit of both now.


kind of fitting actually.

[Frosty]

Well if Beck said then it's obviously not true, right?

"IF" this is true(who the hell knows any more, yes I'm Glenn Beck fan but I don't take his word as absolute until I do my own research), GM is playing a VERY dangerous game with their PR...something that has already sucked for decades. Like already said, do government or corporate people think the the public is that stupid?

[Tsar]

Originally Posted by Frosty

Well if Beck said then it's obviously not true, right?

"IF" this is true(who the hell knows any more, yes I'm Glenn Beck fan but I don't take his word as absolute until I do my own research), GM is playing a VERY dangerous game with their PR...something that has already sucked for decades. Like already said, do government or corporate people think the the public is that stupid?

I've always said that MOST people are stupid. So I guess, they share my opinion.

[Frosty]

Originally Posted by Tsar

I've always said that MOST people are stupid. So I guess, they share my opinion.

Then you must be our fearless leader.

ziiiiiiiiiiiiiing

[Tsar]

Originally Posted by Frosty

Then you must be our fearless leader.

ziiiiiiiiiiiiiing

Sorry, I'm not eligible, I was born in the wrong country - that's what military told me.

[Frosty]

But I thought being from another country automatic makes you stupid therefore eligible to lead us stupid people? ****, the memo I got from FoxNews must have been wrong.

[Tsar]

Originally Posted by Frosty

But I thought being from another country automatic makes you stupid therefore eligible to lead us stupid people? ****, the memo I got from FoxNews must have been wrong.

Never got that memo

[transmaro93]

well my "i-car" training classes that are pretty much mandatory (is a story for another day) tell me otherwise Al. Its told to me that future plans for automakers (not just GM) are to eliminate most full frame vehicles including trucks. They want to build more unibody type trucks like the honda ridgeline. Now i cant see towing a decent sized trailor with one of those, but who knows. The technology in cars these days in really unbelievable, but it still seems that its not enough for the govt for a car to make 300hp and still get 30mpg... not to make this too political but isnt the current CEO of GM really close to the pres and his people? i mean this guy was hand picked. And on the commercial he seems like a real hand job anyway.

[BigAls87Z28]

Originally Posted by transmaro93

well my "i-car" training classes that are pretty much mandatory (is a story for another day) tell me otherwise Al. Its told to me that future plans for automakers (not just GM) are to eliminate most full frame vehicles including trucks. They want to build more unibody type trucks like the honda ridgeline. Now i cant see towing a decent sized trailor with one of those, but who knows. The technology in cars these days in really unbelievable, but it still seems that its not enough for the govt for a car to make 300hp and still get 30mpg... not to make this too political but isnt the current CEO of GM really close to the pres and his people? i mean this guy was hand picked. And on the commercial he seems like a real hand job anyway.

Unibody SUV's are more popular then its BOF variants, which is why most SUV's are going to a unibody system. GM, Toyota, and Ford are the few brands that made BOF SUV's. Nissan still makes one I think, Xterra maybe?
But BOF trucks are still the call for teh day. Now, with loop holes in the system, bringing unibody trucks like the Ute or a Ridgeline into the fold will help increase teh truck's CAFE score.
The old CAFE system had tons of loop holes, and allowed some wagons and hatchbacks to be fall under the truck section, therefor making the CAFE score look better.

And no, the current CEO was not hand picked by the President, he was picked by the head of the Auto Task Force, who has since stepped down. "Big Ed" was CEO of SBC, who built that up strong enough to buy up a bunch of baby bells, then purchased Cingular and changed the name to AT&T.

[transmaro93]

i dont know what the cafe score is. But i cant see buying a 2500 HD truck that is a unibody. Just doesnt seem right to me. BTW dont spin my words AL!!!! i never said he was hand picked by the pres. I was asking if he was close to the pres. And then i said he was hand picked, which he was. by an auto task force put in place by the current administration. I don't care what he did with cingular. that doesn't make him an honest man.

[NastyEllEssWon]

Originally Posted by BigAls87Z28

"Big Ed"

[BigAls87Z28]

Originally Posted by transmaro93

i dont know what the cafe score is. But i cant see buying a 2500 HD truck that is a unibody. Just doesnt seem right to me. BTW dont spin my words AL!!!! i never said he was hand picked by the pres. I was asking if he was close to the pres. And then i said he was hand picked, which he was. by an auto task force put in place by the current administration. I don't care what he did with cingular. that doesn't make him an honest man.

CAFE = Corperate Average Fuel Economy. CAFE has been the goverments attempt at trying to increase the fuel economy of the automakers since the 70's. It has done a poor job due to the loop holes. The spike in gas prices did more to the auto industry for 6 months then CAFE has done in 30 years.

Ed Whitacre isnt close to or near anyone near the president nor the former head of the ATF. He was picked because of how he turned a small regional phone company into a nationwide power house, being one of the largest cell phone providers, on top of others things. He had retired from AT&T a few years ago, and at the time he was just put in to be the Chariman of the Board. Fritz Henderson was the CEO that came in after Rick Wagoner stepped down, and Ed didnt feel he was doing that great of a job, and that he has too much "Old GM" blood in him. He was fired as well, and then Whitacre took over as interim CEO, which turned into him taking over the position only a few months ago full time. He has removed a lot of "Old GM" people, and today he fired the last one by hiring Hyundai's #1 marketing guy.
Susan Docherty was removed and reassigned and Joel Ewanick is now VP of Marketing.
His honesty has nothing to do with this.