Government Motors

[hanselthecaretaker]

Anyone catch this a couple months back-

It looks like General Motors will be throwing everything in but the kitchen sink to help fluff its second quarter earnings numbers. Taxpayers continue to help with the cause as President Obama campaigns on the "success" of GM following the manipulated bankruptcy process that cost taxpayers $50 billion and another $45 billion of tax credits gifted to GM to help protect powerful UAW interests. We now learn that government purchases of GM vehicles rose a whopping 79% in June.

The pressure is on Government Motors to appear financially strong as this may be the last earnings report before November elections and sets the stage for how “successful” GM is. One of GM's past tricks to help fudge earnings numbers has been to stuff truck inventory channels. Old habits die hard at GM. According to a Bloomberg report, “GM said inventory of its full-size pickups, which will be refreshed next year, climbed to 238,194 at the end of June, a 135 days' supply, up from 116 days at the end of May.” 135 days' supply is huge, the accepted norm is a 60 day supply. The trick here is that GM records revenue when vehicles go into dealership inventories, not when actually sold to consumers.

The article goes on to quote Kelley Blue Book's Alec Gutierrez who stated "They're (GM) likely going to have a relatively high days supply of trucks moving forward and they're already placing some pretty aggressive cash incentives on the hood. It's going to eat into their profit margins..."


GM?s Government Fleet Sales and Truck Inventory Rise | National Legal and Policy Center


General Motors Is Headed For Bankruptcy -- Again - Forbes



Seems like this company is still being propped up by us taxpayers.

 

[PICK3]

Fuck! The guilt of trading in teh Malibu for a Toyota is almost unbearable!

 

[hanselthecaretaker]

Fuck! The guilt of trading in teh Malibu for a Toyota is almost unbearable!

Actually you probably did the right thing at this point.

 

[SpyWizard]

the chevy volt costs consumer tax payer money $250,000 per vehicle... alternative power source?? idiots..

Chevy Volt Costing Taxpayers Up to $250K Per Vehicle [Michigan Capitol Confidential]

 

[Headholio]

that cost taxpayers $50 billion and another $45 billion of tax credits gifted to GM to help protect powerful UAW interests.

The stock we own in GM is now valued at 16 billion less than needed to break even on that most superb of investments to save this country from the impending right wing great depression. So, it didn't cost tax payers 50 B or 95B etc.
(PS: I got this number from you own article, perhaps you should read it).
The actual net gain or loss on the bail out depends on the stock price when the stock is liquidated. Chances are good there will be no loss at all.

 

[Headholio]

Funny to see pissed off righties so upset that America isn't failing. SO you site an article by a pissed off right wing white guy. Check the stock forecast. 20 stock analysts out of 20 rate GM as strong buy, buy or hold. Zero rate it as under perform or sell.

GM Analyst Opinion | General Motors Company Common S Stock - Yahoo! Finance

 

[Headholio]

. We now learn that government purchases of GM vehicles rose a whopping 79% in June.

So if you buy 1 car in June and 2 in July, your purchases went up 100%. What kind of BS is this?
How about a reference so we can all learn about this "whopping" increase.
Because you imply that GM success is from government purchases of vehicles, which is hilarious, but I don't doubt you believe it.

 

[mistaballoonhands]

Funny to see pissed off righties so upset that America isn't failing. SO you site an article by a pissed off right wing white guy. Check the stock forecast. 20 stock analysts out of 20 rate GM as strong buy, buy or hold. Zero rate it as under perform or sell.

GM Analyst Opinion | General Motors Company Common S Stock - Yahoo! Finance

*cite


Dumbass

 

[brownbrown]

2 million jobs saved.
America not totally relying on another country for vehicles in the event of some type of World catastrophe (like the Japan quake) or a war.
Incase you didnt know, the Military relies on American vehicles and engines.


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[mistaballoonhands]

2 million jobs saved.
America not totally relying on another country for vehicles in the event of some type of World catastrophe (like the Japan quake) or a war.
Incase you didnt know, the Military relies on American vehicles and engines.


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Nice Toyota

 

[Headholio]

the chevy volt costs consumer tax payer money $250,000 per vehicle... alternative power source?? idiots..

Chevy Volt Costing Taxpayers Up to $250K Per Vehicle [Michigan Capitol Confidential]

Good thing about you rightie radicals. You are all on the same page.
Idiots.
That BS talking point took all GM assistance and research money for electric vehicles in general and divided it by 6000 volts sold. It didn't figure in future sales or the massive benefits from the R and D that made huge gains in battery technology and other things will spread to other vehicles. In other words, the number is meaningless.

Small minded and short sighted? Vote Romney.

 

[Fitguy308]

Why don't you go suck a dick head although your name already implies you do please vote Romney if you want a better country to live in

 

[brownbrown]

Nice Toyota

I own a GM too.
I had 2 at one point.

DrOiD BioNiC EF App!

 

[Fitguy308]

I own a hummer which was made by gm

 

[Headholio]

Why don't you go suck a dick head although your name already implies you do

I forgive you.

please vote Romney if you want a better country to live in

From 1950 to 1980, the income of the top 1% of Americans stayed around 8 to 9% of the total.
Then Reagan took office and the top 1% were taking in 15% of the total during his second term. (That's called trickle "down" economics. lol)

The trend continued after Reagan, while the middle class remained stagnant, and now income of the 1 percenters is approaching 20 percent of America's total.

So, tell me, do you think that trend is good for America and for Americans in general? Do you think that a Romney presidency will increase the take for the 1% or for the rest of us?

I'll tell you what I think. The rich, like Romney, want more of the pie. When they get more, everyone else gets less. That's bad for America.
Money is power. When all the money is controlled by a few, all the power goes with it, and America is no longer a democracy. America is no longer America.

 

[goose333]

I can see that the class warfare BS is workin on some of you.....

 

[SpyWizard]

bmw and honda.. got rid of the GMC Denali.. transmission was going out with 110k miles on it.. no thanks..

but what would you expect, that way I'd have/need to go buy another one.. yet an other example of engineered use of life..

I don't need to spend my money on products that support people that refuse to educate themselves and work on a production line all their lives

It's called a free market... don't like it?? starve with the rest of the world when the gov keeps trying to control prices = don't learn from the failures of the past you get to relive them in the future, the real problem is you'll teach these same failed lessons to your children that think that someone else owes them an education, medical, dental, housing, and happiness..

 

[Headholio]

I don't need to spend my money on products that support people that refuse to educate themselves and work on a production line all their lives

Who do you think built your BMW and your Honda? Little car fairies who popped them out of thin air?

And do you think the German government or Japanese government don't support those companies?
Those German's are smart. They recognize the importance of manufacturing in their country, and see BMW for what it really is: a valuable, cherished, strategic asset and key part of the country's foundation. They think like smart people think in the US. You don't hear too much about letting businesses fail and assets crumble for the sake of some warped view of free market.

BERLIN — Germany, Europe's economic engine, is back in gear after a painful recession, as foreign customers snap up cars and industrial machinery and the country reaps the benefits of stimulus spending that helped keep the motor running at home during the downturn.
In particular, economists point to government support for keeping workers on the job with shorter hours instead of laying them off — a measure that kept more money in people's pockets and prevented a growth-killing spike in unemployment.

Stimulus, short hours help German economy bounce back - USATODAY.com

 

[goose333]

GM stock opened at 33 and is 22 now. So if they fail to make it again you want to give them more tax payer $$ and bail them out?? GM has changed nothing but shut down none-union plants.

 

[SpyWizard]

the unions are dead they are all doing the death spiral... spending as much $$$ as they can, after all OP money (other people's money) is always better than your own right?

 

[brownbrown]

"We must close union offices, confiscate their money and put their leaders in prison. We must reduce workers salaries and take away their right to strike.”

~Hitler, May 2, 1933

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[hanselthecaretaker]

So if you buy 1 car in June and 2 in July, your purchases went up 100%. What kind of BS is this?
How about a reference so we can all learn about this "whopping" increase.
Because you imply that GM success is from government purchases of vehicles, which is hilarious, but I don't doubt you believe it.

It's plain as day that the increase in sales for June was attributed to a 79% spike in government fleet purchases. If you don't think that's significant or accurate, well then....geez, do you really need to be reminded of how many people work for the government?

"We must close union offices, confiscate their money and put their leaders in prison. We must reduce workers salaries and take away their right to strike.”

~Hitler, May 2, 1933

DrOiD BioNiC EF App!

Not quite. All he did was ban the Weimar unions and transfer their members to the National Socialist DAF (German Labour Front).


The primary goal of Germany’s national socialists was to “create a classless” society. Hitler’s unions were central in this cause. In fact, Hitler gave the unions their long-awaited demand, one that the Weimar unions were never able to pull off, a National Labor Day, May 1, 1933.

“Bless now our fight for our freedom; the fight we wage for our German people and Fatherland.” – Adolf Hitler’s speech, May Day 1933

Hitler Didn?t Outlaw Unions – As a National Socialist, He Went Double-Down On Them | The Graph



Having said that, it's a stretch and a half to compare a racial dictatorship to our melting pot democracy.

 

[Headholio]

It's plain as day that the increase in sales for June was attributed to a 79% spike in government fleet purchases. If you don't think that's significant or accurate, well then....geez, do you really need to be reminded of how many people work for the government?

You are really confused dude. GM revenue in 2011 was 150 Billion dollars! If you think Government purchases can put a dent in that number, then you have a problem with "perspective".

So, I tried to find the source of this talking point, using Google to search for the truth (a skill most righties seem to lack).
This 79% increase number is all over the right wing propaganda sites. Most don't provide sources, some of them do, giving a link that goes to an unreferenced blog, one blog referencing another blog etc.

Finally someone has a the guts to post a GM comment on this number:

Update: GM sales spokesman, Jim Cain, points out that total government sales for GM in June were still below 5% of total sales and majority of government sales increases were attributed to state and local governments.
GM?s Government Fleet Sales and Truck Inventory Rise | National Legal and Policy Center

If you have a little skill in math, you can easily determine that even 79% increase of 4 to 5 percent of sales can only explain a small small portion of a 16% sales rise overall.

Also, as noted above, these are state and local government fleets for the most part, not the feds.
Also important to note is that fleet sales have always been a part of GM business and month to month fluctuations of this magnitude are nothing out of the ordinary.

It is really sad to weed through the lying right wing sites, seeing this party hope for GM failure, hope for America's failure, salivate and cheer over the slightest hint of bad news. And when they can't find bad news, they make it up.