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Old 01-25-2010, 07:35 PM   #11
Number 3
Hail to the King baby!
 
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Drives: '19 XT4 2.0T & '22 VW Atlas 2.0T
Join Date: Dec 2008
Location: Illinois
Posts: 12,156
Quote:
Originally Posted by ROD1 View Post
Cool, amazing what gettin ridda all the deadwood can do for the forest!
I am hoping by deadwood you mean the horendous legacy costs GM had on the books and not the people. I had to fire 5 people last year............all far from deadwood...........and I won't go into what happened to Mrs. Number 3, a 25 year veteran of GM who was "terminated" 2 weeks after receiving her 25 year service award.

Quote:
Originally Posted by 2010SSRSM6 View Post
Too bad the retiree's are the one's that got the shaft to pay the loan money back. My grandfather did 35 years at Fisher Body and was given 1 day's notice that he no longer has health insurance. Unless he wanted to pay $150 more per month then his retirement. The UAW should be ashamed of themselves for screwing over those who suffered so they can flurish!
Salaried employees took the burden here. The UAW is guaranteed no cost health care with minimal deductibles forever...........unless they mismanage the billions. Where do you think the other 30% of ownership went?

Quote:
Originally Posted by Ravirn View Post
The term "payback loans" is a bit misleading. GM will repay the US Government the $6.7 billion in loans it received last year. But the US Government spent over $50 billion bailing out GM. The US Feds will still own 61% of GM (a debt repayment that was converted to equity).

How quickly the US Government sells it's shares will have a decided factor in the future of GM. I can appreciate that GM has made good money, and will be repaying the loans. But that amount is barely over 10% of what the Government put out to help. Hopefully the US Government doesn't go nuts and start dumping stock. (I seriously don't think they'd do this, but hey... we've seen weirder things happen.)

So far, so good! Let's hope it continues in the years to come!
Our only hope is that it isn't all at once so President Obama can say, "see big government works. GM not only paid us back the loans but we made a profit on the stock!!!!!!! by selling it all to China"

Quote:
Originally Posted by FenwickHockey65 View Post
We lost dental and vision...
Thank you sir!!!!
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