Toyota Bashing Pays off: GM Pays back Bailout Moola!

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MSI
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Toyota Bashing Pays off: GM Pays back Bailout Moola!

Post by MSI » Wed Apr 21, 2010 2:56 pm

April 21, 2010: In a sign that all the NHTSA and government bashing of Toyota is good for General Motors Co., GM has repaid $8.1 billion in loans it got from the U.S. and Canadian governments. See the full story on AP GM pays back government loans from US, Canada
NOTE: The U.S. government owns 61 percent of the company and Canada owns roughly 12 percent.
So for a different perspective on the whole Toyota circus also see:
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MSI
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Re: Toyota Bashing Pays off: GM Pays back Bailout Moola!

Post by MSI » Tue Apr 27, 2010 11:54 am

April 27, 2010: And Ford too! In another sign that the lawyer and govt bashing of Toyota are helping domestic carmakers, Ford posted a $2.1 billion dollar profit! See the Chicago Tribune story:
Ford Motor posts $2.1 billion 1Q profit; gains market share as auto sales recovery starts
Ford was the only Detroit-area automaker to shun government aid and stay out of bankruptcy protection last year.
Ford also benefited from Toyota Motor Corp.'s safety recalls of millions of vehicles. Ford was one of the top brands considered by Toyota owners who were shopping for a new car, Kelley Blue Book said.
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PaulM
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Re: Toyota Bashing Pays off: GM Pays back Bailout Moola!

Post by PaulM » Tue Apr 27, 2010 12:21 pm

Yeh, GM 'paid back' their 'bailout'. Uh uh.

Except they did it using the 'line of credit' given to them under TARP.

IOW, they shifted some taxpayer money from their left pocket to their right pocket, and then they and the White House tout it as 'We paid off our loan'.

In effect, it's as if you paid off your Visa card - with your American Express card.

MSI
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Re: Toyota Bashing Pays off: GM Pays back Bailout Moola!

Post by MSI » Sun May 02, 2010 2:53 pm

May 2, 2010: Wasn't sure about Paul's posting above, but then i saw it in the Sunday NY Times:
Repaying Taxpayers With Their Own Cash
By GRETCHEN MORGENSON
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