Obama’s GM ‘Success Story’ Headed for Bankruptcy


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Yet it gets even worse. Neil Barofsky, special inspector general for the $787 billion Troubled Asset Relief Program (TARP), reported to Congress that the forced closure of auto dealers was both unnecessary and politically motivated. “Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls,” Barofsky wrote, further emphasizing that ”dealerships were retained because they were recently appointed, were key wholesale parts dealers or were minority- or woman-owned dealerships.”

And then there’s GM’s inherent design flaws. The highest sales volume in a vehicle class is for “D-Segment” cars, which are mid-sized, mid-priced, family sedans, that accounted for 14.7 percent of the total U.S. vehicle market in 2011, and 21.3 percent during the first 7 months of 2012. GM’s D-Segment car is the Chevy Malibu, and it must compete for sales with cars such as the Ford Fusion, Honda Accord, Hyundai Sonata, Nissan Altima, Toyota Camry and the Volkswagen Passat. Forbes columnist Louis Woodhill reveals that, due to the speed of auto technology, “the best vehicle in a given segment is usually just the newest design in that segment” and that a newly-designed vehicle had better be superior to its older competitors or the company “will spend the next five years (the usual time between major redesigns in this segment) losing market share and/or offering costly ‘incentives’ to ‘move the metal.’” To make a long story short, the 2013 Malibu is not only inferior to its competitors, it’s not even as good as the 2012 Malibu.

In June, GM CEO Dan Akerson weighed in with an administration-like solution for GM’s sales woes. In an interview published in the Detroit News, Akerson talked about enacting a $1-per-gallon increase in the gas tax on top of the current federal gas tax in order to “encourage” buyers to opt for smaller, more fuel efficient cars. That’s not encouragement. That’s blackmail.

During that same speech in Colorado the president also insisted that “I don’t want those jobs taking root in places like China, I want those jobs taking root in places like Pueblo.” Yet as political consultant Karl Rove has revealed, GM employed roughly 252,000 workers in 2008. The “new” GM currently employs 45,000 fewer workers–131,000 of whom are currently “outsourced” in foreign plants.

As noted in the opening paragraph, the president sees GM as a template for every industry in America. Human Events’s John Hayward illuminates exactly what that means. “Taxpayers were compelled to rescue the company from bankruptcy, then they were compelled to buy its products, and Obama tells them it’s all a smashing ‘success’ that should be duplicated throughout the private sector,” Hayward writes, “Taken literally, as the President prefers his words not to be taken, this would mean the end of the private sector.”

Hayward may be too generous in his assessment. In this particular case, it is quite likely president is saying exactly where he intends to take America in the next four years should he be re-elected.

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  • Chris

    He is truly an idiot.

    But I'm hoping that the gig may soon be up. The hope 'n change faux messiah of 2008 and his grifter wife and slime ball Chi-town associates bamboozeled a majority of voters (I was not one of them, I voted for Mccain as the much lesser of two evils, and the addition of Sarah to the ticket made a big difference), but the mask keeps slipping. Every day it becomes more and more apparent the America mad a BIG mistake electing this nincompoop, and a nasty bit of work he is. Narcissistic, petty, vindictive and small minded- what a gem.

    • oldtimer

      I agree with you except for the idiot. He has almost accomplished his main objectives: division, hate and to "fundementally" change this country. He is dumb like a fox. He and all his associates must go.

    • SKIP

      You mean a typical neeeegro! lacking only the violence to top it all off.

    • Lew

      An IDIOT is someone whom knows not what he does, MR.B.O knows very well what he is doing! AND I call it TREASON!

    • ron

      CHRIS HES NOT AN IDIOT HES VERY SMART,ITS HIS PLAN TO TAKE CARE OF EVERYBODY EXCEPY THE LEAGAL TAX PAYERS

    • http://twitter.com/CmmnSnse1 @CmmnSnse1

      The hope 'n change is really Hype & Chains, as I see it. Lots of hype to put USA in Chains of Socialism!

  • kafir4life

    Stinky (-bo) studied the Constitution with the eye that a computer hacker studies computer operating systems, looking for places that it can be exploited.
    I've been trying to picture just how stupid someone would have to be to vote for that abomination a second time. It's really stark. Completely brain dead and incapable of independent thought and motivationally impaired are the bulk of Stinky's base.

    • hardwurkindaddy

      IE: Obamazombie

  • tagalog

    If GM had filed for Chapter 11 bankruptcy, the taxpayer would have been saved one hell of a lot of money that we will never recover. It's true that GM employees would have been laid off while GM reorganized in the bankruptcy, but the reorganization wouldn't have lasted as long as the recession has, and they would have been re-hired in a re-vitalized GM organization. What would the laid-off GM workers have been paid in unemployment benefits? Undoubtedly less than what the federal government pumped into GM as their so-called "stimulus."

    And, of course, now, with GM going into bankruptcy anyway, there will still be laid-off GM employees who will receive still more taxpayer money in the form of unemployment benefits anyway.

    I don't mind paying taxes to fund federal unemployment insurance (in fact I'm for it), but I bridle at the idea of throwing scores or hundreds of billions of dollars at the business and THEN having to foot the bill for the unemployment payments. Just do the bloody bankruptcy at the front end, OK? After all, that's what bankruptcy is for.

    • SKIP

      Unemployment payments! HELL! I am stunned that the exeutives were STILL allowed to give themselves massive bonuses!

    • Nick

      Couldn't have said it better myself.

  • Asher

    Well this shows us what Greed and Big Government can accomplish..GM should have claimed bankruptcy and re-structured, re-organized. They should have become leaner and cut some wages of union employees as well as management emplyees….but they had a community organizer in Chief that used them to further his Socialist agenda…now they are going to pay the price because of the gas prices, which again, Obama is responsible for, because of his (Zilch energy policy) and the fact the people are POD at GM because the people helped bail them out…we had to buy stock in the company and we didn't have a choice in the matter. Greed and corruption never pay off in the end. Integrity, honesty, and fairness still matter!

    • fiddler

      But we all know it was for the UAW. Eh, amused?

      • amused

        what did you do while you were "allegedly " a union worker for GM .Did you scab during a strike or something ? Did you get laid off ? I know it's hard for you to see beyond your unmitigated hatred for unions , but have you stopped to think what would have happened to GM ' s suppliers ? No I didn't think so . It would have been a domino effect right down to parts delivery ,auto parts shops , and all the buisinesses they patronized while employed . I give GW and his Admin. the credit for seeing that , not only GM but AIG ,which WAS infact " too big " to fail .The small minds around here can not , nor do they choose to try to understand what that failure would have caused .
        Your problem with this Admin began on Nov7- '08 and has been eating at you ever since , you followed your Demagogue Blimpy Limbaugh's attitude , you want to see Obama fail , that sentiment went so far as suggestions for buisneses not to hire till after the elections .

        • amused

          All for UAW fiddler ? your ignorance AMUSES me .

          • http://www.youtube.com/watch?v=nLNn2YflwNs Roger

            And you obama style propaganda just bores me.

            Why is Obama above the law and able to customize bankruptcy for his friends?

        • JIMOFCT

          Why you do not recognize bancruptcy law would have done a far better job of preserving GM for the future escapes me.
          The Unions received much of the bailout money and were not required to contribute to the bancruptcy as though they had no role in causeing it. That is rediculas. A Bond Holder lent money and had no say in negotiations between the strong union and poor performing management that allowed unsustainasble benefits to grow and ultimately outstrip revenue potential and cause bancruptcy. Obama rewarded his Union constituants with increased deficit spending of money our kids and grandkids will have to repay for a long time as the cost of debt service is increasing just like the unsustainable union benefits
          .As British PM Thatcher pointed out when other peoples money isn't enough we are all bancrupt.

        • Oleg

          We don't have to want to see Obama fail, he has been quite capable of doing that on his own. If G.M were allowed to go bankrupt under a chapter 11 style bankruptcy very little of anything would have happened to the suppliers, perhaps a drop in orders for a year or two while the receivers ran the company. The company would have been put under new management, reorganized, contracts renegotiated, and if all went well would be making a profit within five years. But this was not done, the secured creditors took the brunt of the hit, and everyone knows why, it was payback from the Commander from Chicago for UAW support during the '08 election.
          As for unions, you are a typical union drone that can't get beyond the class warfare B.S, you have a union card so you think that the world owes you something. Well Barry gave you everything you wanted and GM will probably still go under. Why? Because G.M is run like the British Leyland of the 70s. Antiquated designs, poor build quaility, unwanted products, government appointed management, militant unions shaking down the company, now there's a formula for success. In class warfare nobody wins, history says that over and over.

  • Rand

    The DoE grant was 2.7 MILLION not BILLION

    • SKIP

      WHEW!!!!! (wipes forhead) I can live with that! HAHAHAHAHAHAAH GASP! Gaaahhhkkkkkkkk!

    • ebonystone

      Well, that's something. I couldn't imagine how one could spend $2.7 billion just on an energy-saving door-assembly system. One could build a whole new plant for that.

  • kafir4life

    Never buy any union goods or services whenever possible. Buying a car from GM is like giving money directly to President BO (aka Stinky). Fo the most part, GM cars are crap, and the unions make sure it's kept that way. After having been in three unions before getting a real job where you advance via hard work rather than by seniority only (skill never enters into a union equation as told to me by a very senior member at one of them), I'm speaking from experience.

    • drbukk

      If you own a company which uses a private shipper, do not use UPS because they are unionized and much more expensive. Fedex supports Republicans. Also, do not buy Progressive Insurance, as the owner Peter Lewis is a flaming rich liberal. I believe he is seeking to drive FOX News viewers insane with the hideously loathsome ads featuring Flo. Geico makes ads that are varied, entertaining and imaginative.

      • solgreatman

        Geico's Warren Buffet's company,aka Obama's balls on the chin man.

    • fiddler

      I was cured after working for GM; before then I had no reason not to buy American (I had pride). We only own Toyota's now. Unpatriotic? Show me the PRIDE in manufacturing; not the deliberate lax work and even sabotage. Sorry, but that's not very inspiring. I don't equate Union-made with American-made. Their heart is not with America, but some other 3rd-world nation they have concocted in their own minds.

      • amused

        Spoken like true Americans ! Patriots ..,.as it were . As long as you can F–K the POTUS , you'll F–k your countrymen .
        By all means do so , you are free tyo do so , just follow your "rule " , when buying food ….make sure it from S.A. – I hear they have no such pesticide bans like here . I only regret that the Chinese are not producing more foodstuffs they can send here for you "patriots " to buy and feed to your families .

        • kafir4life

          In case you don't know, "amused" amusingly spends his "off-time" servicing his union bosses. He's quite amusing. So how are we f-ing anybody? Unions are garbage, and produce same. Why would I give unions my money? Would it be amusing to you were we to waste our money buying products made by the likes of YOU? Would it be amusing to you for us to give our money to politicians like Stinky (bo)?
          Go back to your union steward amused, he's got your union made knee pads all ready for you.
          I drive Acuras. They're really well made!! I've had GM before. Junk. Garbage. Crap.

        • http://n/a James P. Carter

          FYI you Obama minion….the usurper POTUS is F–King America just like he promised he would: “We’re only five days away from fundamentally transforming the United States of America”.America.” — Barack HUSSEIN Obama, Oct 30 2008

  • wsk

    GM always had a policy of "planned obsolescence" when designing their vehicles. It seems that's their business model as well. Sorry if you sleep with dogs (i.e. the man-child messiah) you're likely to get fleas.

  • Spacekatt

    This is the liberal view of utopia. Obama has done it with GM and now with health care. Another 4 years with this man in charge will be the end of America as we know it.

    • Lorin L. Wilkinson

      America "as we knew it" has already ended in an Obamanation! Four more years of Democratic rule will see most of us heading for Mexico to seek a better life!

  • fiddler

    "In June, GM CEO Dan Akerson weighed in with an administration-like solution for GM’s sales woes. In an interview published in the Detroit News, Akerson talked about enacting a $1-per-gallon increase in the gas tax on top of the current federal gas tax in order to “encourage” buyers to opt for smaller, more fuel efficient cars. That’s not encouragement. That’s blackmail."

    "During that same speech in Colorado the president also insisted that “I don’t want those jobs taking root in places like China, I want those jobs taking root in places like Pueblo.” Yet as political consultant Karl Rove has revealed, GM employed roughly 252,000 workers in 2008. The “new” GM currently employs 45,000 fewer workers–131,000 of whom are currently “outsourced” in foreign plants."

    Political manipulation. That's what this president and his administration is all about. The president relies on "media cover" to get away with this. I wonder what kind of book(s) will be written about this president and his mischief in latter years. NARCISISSM, and wanton abuse of power.

    • Barry Haynie

      Akerson also stated in Beijing that by 2014 70% of GM operations will be based in China. This includes 100% of the design division and all of Cadillac. He also stated that China is where the market is and that is where GM (Government Motors) will be. AND Guess he wants to pay for it. That's right the US suckers also known as taxpayers. Stinky will make sure that happens if he is re-elected. He is creating jobs all over the place. Just not here in the good old US of A. There was a video out here on the net, but I cant find it now.

    • SKIP

      What kind of book? Ask Wild Bill Ayers.

    • Oleg

      Where did this Akerson come from, the U.S Department of Industry or the EPA? That is absolutely assinine, if you cut into people's budgets with higher gas prices that last thing they will do is buy a rapidly depreciating big ticket item like a new car. If he had his head on stright he would be seeking to market cars that are natural gas powered instead of gasoline poweres, there is a huge potential market there. But like so many of Washington and their fellow travelers Akerson has this stuck on stupid obsession with gas(oline) mileage, like there is no such thing as diesel, propane, natural gas, only gas and gas electric hybrids like the worthless Chebby Volt.

  • fiddler

    Are you out there AMUSED? Care to weigh-in on an obvious debacle?

    • amused

      thought you'd never ask , go to page 2 .

      • http://www.youtube.com/watch?v=nLNn2YflwNs Roger

        Thought you were busy being someone else and didn't have time to post on this story.

  • flowerknife_us

    Obama wants to ruin the whole country. Lie like a Rug, Walk all over it. then swear it is't there.

  • mlcblog

    Another one bites the dust. Commie unions score again.

    I remember as a young adult watching the local news of the San Francisco waterfront when Harry Bridges and his union would shut down commerce time and again, all to jack up their own pay plus throw a monkey wrench into the gears of the system. It is part of the commie playbook.

    I recall a disdain for them even at that young age.

  • Bright Knight

    These idiots in the Obama regime put a ton of money in the company and just changed the ownership of the shares, but didn't solve the problems that got the company in the mess in the first place. As long as the problems aren't solved they will never get this company back on track.

  • http://www.facebook.com/marvin.fox.526 Marvin Fox

    Obama is either doing precisely as he wants. What that has to do with Constitutionality or legality, or common sense, or an accurate view of the world we all live in is a mystery. He has no discernible success and blames his constant failures on anything or anyone, G. Bush comes to mind, to deflect blame from himself. His vaguely hopeful speeches are no longer welcome in many places they once were. I heard today that 800 thousand have left the Democratic Party. I doubt any news that good has been reported since the Democratic Party started the Civil War. The only good sides to Obama's business sense is that he has none and he wising up our entire Republic about the failures of Marxism.
    marvin E. Fox

  • WilliamJamesWard

    When the tow truck goes out to pick up GM and take it to the wrecking yard, we can be
    assured Obama will be in the drivers seat claiming victory, new jobs in salvage, shovel
    ready. The only shovel read anything he has come up with is the pile of crap he has
    been dumping on taxpayers for three and a half years. Just wait until the towing bill
    comes in, we may all be buying a bicycle, riding the mule has been to costly, we can
    not afford to keep feeding it……………………………………….William

  • amused

    It's amazing ! 20 or so posts , all made out of utter ignorance , not a one of you know what in the heck you're talking about ,NOR DOES ALHERT . He just threw you some read meat -lol…and the inevitable ,expected Pavlovian response.
    Do you people like being led around by the nose by people like Alhert ? Are you all so lazy that you wont bother to check the veracity of this bogus article ? I said this before , mix a few facts in with a story to create whatever scenario fits your agenda .
    Do any of you genius' now what Moodys ,S&P ,and Fitch are ? They are the three major Stock,bond and security raters .
    In ALL THREE GM has about the same rating as Ford / the securities and bonds are 1 step below investment grade with an outlook to upgrade to investment grade …that is the investment in debt / GM sales are up 10 % /Profits are up 3.6% for the quarter /Dividends are being paid ,and for investors a hold or Bear position is suggested . —-

    • WilliamJamesWard

      What should I do now Oh terrible amused,sell short or long, or just not wait and jump out of the
      window now and hope that when I hit the street I am not run over by a GM pickup driven by
      my wife. Lucky me, I have two things I have been lucky at, one I only jump out of basement
      windows and the other is to buy secured bonds. I know you are probably thinking awful thoughts
      about W but hey, I have so little left after taxes it all adds up to another year of work and if
      possible Social Security a meger pension and small savings will keep me from the possibly
      inevitable shopping cart with a few bags of items and GM on the wheels, small dog in tow
      and a bottle of mad dog………..Is America going down a drain???………..

    • tagalog

      Yes, I like being led around by the nose by Ahlert. It satisfies the sycophant in me. Right now, Ahlert is leading me and several other sycophants out to the work site, where we work on building the Road to Serfdom. Love it. It's similar to the Route Zero scenes in the movie Papillon.

      One step below Investment Grade: that means a bad investment, doesn't it? Like, "Don't invest in this company?" But tomorrow will be better; President Obama is telling us that, isn't he?

      Just a little hint: for investors, a bear market is a BAD stock market; a bull market is a GOOD stock market. When your broker advises "Hold," he's usually trying to tell you that your investments are not going to make income for you in the foreseeable future.

  • amused

    —– GM's pensin liabiity for both union AND MANAGEMENT employees is $26.5 billion and is 86.9% funded . The pension fund is being transferred to Prudential for a cost to GM of about $ 3.5 billion , of which GM hsa ample assets to do . At the moment GM's debt /credit rating is 1 step below investment grade with a positive outlook from Moodys ,Fitch and S&P to upgrade to investment grade to 2 steps above investment grade , you can look this up yourself , without taking "the terrible amused's " word for it . These ratings are expressed ie: Bba2 BB Ba2 etc I have scanned all the major investment websites from Scottrade / Fidelity / Smith Barney /Goldman Sachs /TD , and have found no hint of Bankruptcy fears .—

    • Solyndra

      You sound like Barney Franks just before the Housing Bubble collapse. You are probably right though, GM wont go broke, Oblamer will just pump in more taxpayer money to keep them afloat.
      BTW. Where there is smoke there is fire. Some of the MSM is picking up on the possible demise of GM.

      • amused

        I thinkn I sound like me ……..if you're too lazy to check Stocks , Securities and Bonds , then go ahead losten to "a guy on MSM " …I'll stick to the professionals . . TARP is a bi-partisan effort , so if you wanna bitcch about it , go ahead , all you're doing is thro. wing shiit into the fan . If there is smoke , it will be detected by the Bond Raters , long before FPM retells a story .

        • kafir4life

          By "professionals", you're refering to looking up into the eyes of the steward you're currently servicing?
          Didn't Stinky (bo) screw the bond holders by rewriting / ignoring contract law?
          I'll wait for my answer. Best you not try to talk with your mouth full…..gurgle gurgle chug swallow.

          • amused

            kafir4life , no need to continue to prove to me that yiur an assssshole , thats already been established.
            And what 's this more homosexual references ? That what dominates your mind ? you and Rogo-poo seem to have a fixation on homosexual acts to make your point . That's a little telling aint it chump ? tsk tsk ….just come out of the closet girl .
            No , your contention is wrong , and I'd like you to provide proof for your OFF SUBJECT COMMENT .
            We're talking about GM aint we spud ? I would expect such a comment from you , a parroted meme , for you're too stupid to understand securities and bonds , or how they're rated , sold etc .

          • Oleg

            Like I'm going to take financial advice from a militant trade unionist and Obama boot licker on investments. Yah G.M is such a great investment that the Federal government bought into the company at $53 a share in early '09 but the real market value is closer to $21 a share.
            As for a higher gas tax how the hell does that save any automaker money? Also what does that have to do with a 62 mpg fuel economy goal? Which is pie in the sky anyhow. But then again that's asking too much for a militant trade unionist and Obama press agent to explain that.

          • amused

            Forget it Oeg , you're too stupid .

    • tagalog

      Two steps above investment grade: what does that mean, just believe in the company, and your needs will be taken care of, no need to invest in the company?

  • amused

    —as far as GMs CEO wanting gas tax hikes rathjer than meet the 62mpg goal …that's historically beenthe positionof all three automakers because it will save them money , and all you good little capitalists knows about that right ? If nay of you are investedf in thestock market , I would suggest NOT taking any recommendations from ALHERT or FPM .

    • tagalog

      Doesn't 62 mpg. mean a car built out of cardboard, with a Citroen Deux-Chevaux-type drive train? I'm looking forward to that…

  • AuntJane

    check this out. China Motors? http://youtu.be/Lvl5Gan69Wo

  • Nick

    Of course, somehow, he'll blame Bush, or the Chinese, or the Japanese earthquake and tsunami, or ATMs or twist it into a success story. And of course the mainstream media will maybe give this 3" on Page 6 of Section D of the NY Slimes, Washington Compost etc. and the networks will give it 14 seconds of air time. And the Obamabots either won't know, or care, and will troop into the voting booths and pull the D lever with all the thought and consideration of the economy, joblessness, etc. of a grandmother working a slot machine in Atlantic City.

  • https://www.facebook.com/ann.rein Ann Rein

    Bankruptcy, huh?. All that hope and change down the drain…..

  • amused

    Uh ,,,,I think leting the Big Three fail , in addition to AIG and the brokerage Firms , kinda might done much more joblessness than you see today .
    But you got if figured out eh ? GM's gonna fail and when it does Bush will be blamed ,, and the loss of about 300,000 jobs in one shot [if GM fails so do its suppliers ] THAT will be relegated to the back pages of NYT , this way all the "obamabots " wont know , and they'll vote for him again without giving a care about jobs or the economy ? oh yea ,and ….."just like a grandma working a slot machine in Atlantic City "
    That's pretty good Nick . I'm glad someone in this country has got it all figured out .

    • F. De Moraes

      So in “Amused’s” world if a business fails, their loyal shoppers/supporters will never buy a product from the failed business competitors. Really?
      So in you world all the Pontiac, Plymouth, etc. loyal shoppers will never buy a car again?

      • amused

        Nope , that's an assumption on your part . [and abit confused] As for me , sorry but I am and always have been a die-hard BUY AMERICAN . Dont know how you reached that conclusion , I was talking about the jobs that would have been lost reaching far beyond the assemby line . You can extrapolate , I'm sure . And big companies have gone bankrupty and reorganized , or no one would fly on an airline , if I followed the rationale of your assumption .The problem with the recent bust was it involved far more than just one company . It was a giagntic" Dominoe Effect " and TARP prevented the fall of all the Dominoes . If you haven't realized that by now , then you have no understanding of what happened in '08 and the gravity of that situation . Ergo you shouldn't be commenting on a subject you dont understand . I give ALL the credit for TARP , which I believe was absolutely necessarry , to Pres.Bush . Obama merely continued what was already set into motion .

    • tagalog

      I believe you when you say Bush will be blamed. That's the Obama mantra.

      • amused

        You failed to detect my satire in that sentence . That is what YOU would expect ….that Bush would be blamed . That may be so with your arch-enemy counterparts , but clear thinkers [Independents ] would give credit where it is due . Any success on the part of GM can be directly attributed to the actions taken by Pres.Bush -Not Pres.Obama , for Bush initiated TARP , if on the other hand GM fails , then no one but GM can be blaimed , for it was in fact BAILED OUT . The U.S. [taxpayers] presently hold $ 26 billion of GM ownership , so rather than gloat over a rumor of possible failure [which is just that ] for the sake of lambasting your enemy ,The President , you should be hoping for success , for failure would be a detriment to yourselves as well , loss of jobs =loss of revenue = a greater deficit = raising taxes [whether you like it or not ] .The Federal Govt , has only ONE WAY to RAISE REVENUE – TAXATION , the only way to do it without actually raising existing taxes is to create jobs , widening the tax base and at the same time to cut spending . There is no way out of our present situation without doing BOTH .The Candidates can say what they will .

  • JIMOFCT

    Obama on campaign trail today in N. H.. proclaimed the major success of GM "ROARING BACK" . Further stating , He plans do do the same for vmanjufacturing.THIS WAS PRETTY EASY FOR OBAMA TO ACCOMPLISH WITH GM AND IT SHOULD BE EVEN EASIER THE NEXT TIME. HE HAS GOTTEN AWAY WITH SO MUCH IN EXERCISING HIS "EXECUTIVE ORDERS"- IF RE-ELECTED OPPOSITION wil be near impossible Also INCREASED COSTS OF OBAMACARE will add c ompaniesI within a number of industries facing bancruptcy…_ What is the "SAME":; – Lets review- find a company driven into bancruptcy by strong unions gaining unsustainable benefits, poorly managed and cost burdened by taxes and health care cost unrecoverable in product pricing. Then : 1. Deny use of traditional bancruptcy,2. Drive Bond Holders out of 1st place in payment rights. 3. Give Unions ownership share and continue salaries and benefits & accept future bancruptcy possibility.4. Invest taxpayer money (Bail out) accept possible loss 5. Close distribution partners (like dealerships) and .6. Cut job in USA. &. Add jobs and facilities in china. (as GM has).

    • amused

      heh ,heh , hey Jimbo …..you made it too complicated , they gave you a thumbs down which should have been a slamdunk thumbs up .Remember , these birds have absolutely no understanding of the subject , they just repaet what they been spoon fed , talking points annd memes . Dumb it down a bit the next time , you'll get your thumbs up . LOLOLOLOL

  • Don DeHoff

    Congress, call out the Coast Guard! Our President has become a loose cannon on a four-master, in a hurricane. We can not wait and hope the election will solve our problems, as he is doing damage, almost daily, that could prove irreparable. It is probably already too late to prevent blood in the streets, but if we wait until election time, the damage could be 10-fold greater. Instigate impeachemnt action now.

    • tagalog

      We're a VERY long way away from blood in the streets. Rightly so. Voting still works.

  • amused

    Blood in the streets ? who will draw firstblood ? You Don Dehoff . ?

    • kafir4life

      The only violence we've seen has been from the left, and Stinky (BO) is not only all for it, he's counting on it.

      • tagalog

        It's true that the violence is coming from the Left, all right. But remember Kent State. The Left talked about revolution, about "bringing the war back home," and all that. The so-called Establishment listened to their revolutionary rhetoric, took their revolutionary posturing seriously, and concluded that when they talked about revolution, they meant revolution. So when they acted like the revolutionaries they claimed to be, some of them got shot. They, and their supporters, got all bent out of shape about that. They said they really meant "revolutionary change" of a non-violent sort. What's going on now isn't even at the 1970 level, even though it carries greater significance and greater risks. There won't be any blood in the streets, the first ones to cry out for non-violence will be the Left.

    • http://n/a James P. Carter

      “Go ahead punk…make my day”

      That give you any idea as to who is able, ready and willing to draw first, and last, blood?

      • amused

        oooh look , a Dirty Harry wannabee real tough guy huh …man I'm shakin' in my boots …..GFY ASSSSHOLE !
        That do it for ya , JImmy-Punk-Carter

        • tagalog

          You will surely be among the first to talk revolution (or counter-revolution, depending on your political beliefs), and then when the bullets start to fly, among the first to blame the shooters for taking you seriously.

          • amused

            Well ya know tagalog , this country changes it's leaders without violent revolution , we vote . And the way some of you talk here , you're not willing to settle for the results of a majority vote by the electorate . So what happens if your boy comes up short ? Some morons here start talking "bloodv in the streets " on account of YOU NOT GETTING YOUR WAY …..well tough shiit , that's a democracy for ya . Whoever the people elect in Nov. will be my President , this country's Commander in Chief , and that's it .If I dont like it , I have two choices 1) SHUT THE HELL UP or 2) GET THE HELL OUT . As far as any gun play ? I am always well prepared , and you'll never hear me issuing empty threats . As an American anyone who can not tolerate the peacefull transition of government by way of one man one vote ,and seeks violence to achieve their political or ideological end , then that person becomes an enemy of America , and thus my enemy .

          • tagalog

            Believe it or not, I'm with you about 90% on that post. See? A natural sycophant will accommodate his lickspittle self to anyone who expresses himself forcefully.

            I bet you're not well-prepared; you may have a fine firearm or two, you may even have practiced at the range, but you will hesitate in the face of deadly force used by one who will NOT hesitate, and wind up in the ER.

            I don't think there's anyone who posts here (or who writes articles here) who favors "blood in the streets;" blood in the streets is something we most often hear threatened by the Lefties. They LOVE that kind of threat. "Bring the war back home," Occupiers! "Hang the One Percent!"

  • HPD

    The VOLT is THE perfect green car for municipalities nationwide to use in the parking enforcement divisions. I mean who else is gonna buy them?
    The weak battery can recharge during the long lunch break of the hated enforcement personnel..
    Usually urbanites with bad attitudes..Obama's peeps..

  • texasron

    I am considering a new car purchase. After reading this article, a GM product is out of the running.

    • amused

      Nothin' like biting your nose to spite your face …bravo texasron ,bravo .

      • tagalog

        GM's about to go bankrupt, after only a couple of years of feeding at the public trough. How good can their products be?

        Even BEFORE they got into the bind they were in in 2009, GM products were known by the public to be behind the technological curve, and not providing the kind of quality that the Japanese, Korean, and European car makers provided as standard.

  • ebonystone

    "GM CEO Dan Akerson … talked about enacting a $1-per-gallon increase in the gas tax on top of the current federal gas tax in order to 'encourage' buyers to opt for smaller, more fuel efficient cars."

    He's a dope! Does he think that Toyota, Nissan, Ford, and Huyndai don't also make economy models, and probably better ones than GM?
    Besides, low-end economy models have the lowest profit margin. What he should be after is ending the gas tax, to encourage buyers of larger, top-end models.

    • amused

      Ever hear of "sales volume " ebonystone ? Name me one company that would rather have low sales and a high profit margin, over high sales volume with a lower profit margin . With the resistance of the big three [through lobbying efforts ] against the high mileage requirements , it's surprisingb that we're just reachinhg the 40mpg ,which is due to lack of incentive , which the fossil fuel industry is happy to see things remain just as they arec . Whereas the Brits , who have aklways had high fuel costs are producing cars that get 64 – 70 mpg . Technology improves as the need grows , and when that need is held down , there are little if any mrovements in efficiency .

      • ebonystone

        So why did Toyota come out with the Lexus line? Why not just stick to making Corollas? Why didn't BMW stick to Isettas? And I guess GM should have dumped the Cadillac line, and kept the Saturn.

  • http://www.facebook.com/larry.kroger.5 Larry Kroger

    I do advanced technical development work in the private sector, and my technical degree is from one of the best colleges. I wouldn't mind that the UAW goons earned more than I did pre-crash, if not for the fact that they boosted their compensation by political pull and coercive laws. And I've got to save for my own retirement, and my savings took a big hit in the crash. But when Obama rushed into town and shoved the UAW to the head of the line, and the creditors and stockholders to the back…well, what can you call it but corrupt cronyism? My savings tank, but the promises made to the UAW are protected. Obama says this is good for "workers" and bad for "speculators". Bulsh**! Again and again, money out of the pockets of those who aren't cronies, and into the pockets of those who are. I lose my savings, I pay my taxes, UAW feeds at the trough. And the biggest loser isn't me; it's the young people that are going to inherit this debt. We're sacrificing the next generation for the sake of today's cronies. It's a crime. And when you point this out, you are called filthy names by people who regard themselves as enlightened. How did we sink to this level of depravity, that such evil can be openly perpetrated by our most prominent leaders?

    • amused

      I wouldn't call you filthy names Kroger , just misinformed . If you were a "speculator ' insofar as your savings [401k ] then you had a bad broker , and weren't paying attention to your assets . And if you did lose , then blame the S.E.C. appointees who presided over practices that were clearly illegal ,and unethical . Dont blame "the goons " of the UAW . Your politicians were the ones feeding at the troff , they did nothing to put the Wall Street gang on a leash . And STILL haven't as the latest $9 billion dollar debacle has just proven . And NO ONE has been prosecuted to date . The largest Bankruptcy in US history -Lehman Bros . took place right under the noses of S.E.C who in fact set up offices in Lehman Bros , along with Ernst& Young accounting firm LIEING about Lehman debt/liquidity .You went to the best school and were not aware of the bubble ? That's the trouble withbyou techies , college degrees and no common sense .

  • http://www.facebook.com/bill.kindred.5 Bill Kindred

    Gonna make us all rich!!