How did GM get away with filling bankruptcy when they received the BILLIONS from the tax payer bailout? What a sham! I thought the bailout was to prevent a bankruptcy I don't even think they needed the money to begin with! I feel GM's greed took the American people and our government for fools! And we won't ever get our tax dollars back. It makes me sick to hear how much there white collar employees are getting in bonuses when they still owe the tax payers billions!
@tbzooski their employees drive around changing light bulbs and make a ton of money. You can also support America by buying Japanese cars at least now they are made in USA
Not only has GM fully paid back the loan they got from the government, but the government also owns 33% of GM's stock. The stock will have to double in price, before the government can even break even on the billions they spent buying it. Otherwise, they will take a loss. This probably means GM will have to have at least a few more years of solid profits before their stock price returns to the level it was when the govt bought the shares.
@Zooni2 At least the oil and gas companies are actually producing jobs. Obama rejected the Keystone pipeline which would have added thousands more jobs. Yet, the democrats wanna keep subsidizing corn farmers and ethanol producers, when ethanol doesn't even lessen our dependence on foreign oil or help the environment. Nobody is hating on GM. They put themselves in the position they are in. The government still owns 33% of GM's stock. It will have to double in price for the govt to break even.
Ethanol becomes profitable at around a price of $4.50 per gallon of gas so at least we won't ever see $5.00/gallon gasoline because of the subsidy. Of course, diesel engines could run on vegetable oil if the gov't didn't criminalize it. I'm hating on GM and encouraging Americans to boycott the company and shun its executives and their families. Only the poor who needed to work for GM to avoid more poverty should be exempt from blame.
The oil companies don't receive subsidies; that's a lie you see in the paper. The oil companies receive tax-exemptions that are granted to any oil company. You can start an oil company and get those breaks now! The hundreds of billions of dollars GM receives doesn't go to any real manufacturer of automobiles in the United States. I say real manufacturer because GM cars are so unreliable that they don't count as cars.
Also, why is GM "American"? Most of their cars and car parts are made in China and their designs and engineering is also heavily outsourced. They have some parts plants and manufacturing in America, but so does Ford, Toyota, Honda, Hyundai, and many others.
If we raised the tariff on auto-parts and automobiles, our auto-industry would be infinitely better than with the subsidy system.
I'll never buy another brand new Chevy product again. I used to buy nothing BUT Chevy. Well, when they accepted that bailout, they lost all my respect and business. I'll only buy used Chevy vehicles now, from used dealers. And I very well may not buy another Chevy again, period. It's not whether they pay their loan back or not, it's that they accepted it in the first place.
Got to love this Guy...Hey don't tell my Mother I pocketed the change!
I really think B of A did the same thing...All of a sudden eveyone is making annoucments how they all paid Uncle Sam back in full with interest...I have got only one question...
GM needs to spend billions retooling it's factories, Honda already had factories and assembly lines in the United States that are modular. They can manufacture nearly any car in their lineup without significant retooling. Did Ford ever take a bailout? According to MotorTrend, Ford announced adding nearly 5000 plus workers in America by building next generation Fusion, Transit (replace Econoline vans) once made in Mexico. And a new secret vehicle (possible Ford Ranger or F-100)
@spikedpsycho I commend Ford for not taking a bailout. But their Trucks are the ONLY thing still manufactured in the states. How does that create jobs?
Plus; never really been a big Ford fan, ever. I just don't like their vehicles.
They should have just given everyone in the US $17,000 checks instead of bailing out the people who can't even run their businesses. People should hang for that decision!
I wonder where all the outrage was for Ronald Reagan's Socialist policy of bailing out the Savings and Loans? And though TARP was not popular, the only one who got accused of being a Socialist because of it was Barack Obama even though it was George W. Bush who signed it into law! I truly believe if Ronald Reagan had bailed out GM instead of Barack Obama you guys wouldn't root for its demise the way you do! GM has been profitable for the first time in years and paying back the loan!
My Altima is built in the USA- My best friend's 2010 Impala was built in Canada ( Canada is a great country-don't get me wrong) BUT if you are so convinced on buying a car made from a certain place, even if it is a piece of crap, you had better check the sticker in the doorjam and you will learn where it was built.
I think I'll keep my 06 Nissan Altima- Every GM car I have ever owned has started falling apart at or before 60,000 miles- (I am on vehicle #13) When the day comes that they can produce a car as good as or better than a Nissan, Honda or Toyota, I will GLADLY and PROUDLY give them my hard earned money, BUT it is a real pain in the ass when your car gets you and your family stranded when you are still making the payments. It becomes a safety issue at that point.
I like Nick and he is correct about most of this situation; however, I do not think GM makes bad cars. What they have done is been extremely poor at preparing for the future. The problems at GM started before many commenting here were born and stems from the belief that they like our government were too big to fail. They spent like drunks and provided great lives to their workers. While I think it is great they treated their workers well, they should have made the tough decision they needed to.
I do remember my Mother giving me money to buy her a present & I always spent most of it on her & would buy her another little gift with the change. Gee, I can't believe that is what most people did with their mothers at Christmas or parents in general. Is that truly how low the level of love honesty & respect & how high greed is, that people would do that to their own parents ?
The point was that General Motors "paid" the government's loan back, or at least the $6.7 billion, using money that the government gave to GM in the first place.
This video is also a perfect example of how liberals lie. They only tell you certain facts which support their lying narrative, and completely omit other important facts which would give an entirely different conclusion and result.
Buying Japanese cars is not as bad for the American auto industry as people say. When Americans buy foreign cars, it forces American automakers to say "crap, we need to improve our cars to get more customers". Competition, foreign and domestic, is just a passive method of quality control.
@stalrunner Yeah, thats true but these stupid fucks wont build better cars, they still suck. But who cares where the car company originally came from, Its important where the cars are built. Like the new Jetta , its built in tennesse, and some "american" car built in mexico or overseas.
@luisrock2008 Yes, they get our money..... and we get a car. Both are better off. Have you ever heard of the law of comparative advantage? But really, lines on a map don't matter. What matters is that buyer and seller are both made better off by the exchange.
I'd love nothing more than to buy an American car, but GM cars are far too unreliable. If GM wasn't owned and subsidized by the government their cars would be illegal for safety reasons.
If you want to help American manufacturing, and you should, advocate higher tariffs and let GM die.
FOR ALL YOU IGNORANT BASTARDS, FOR THE LAST TIME, TOYOTA IS NOT AMERICAN!!! NOT ONE BIT. THE JAPANESE ONLY STARTED BUILDING CARS HERE SO THEY WON'T GET HIT BY U.S. TARIFFS. TELL ME, IF THEY CARED SO MUCH ABOUT AMERICANS, THEN WHY WOULD THEY TRY TO BOMB OUR BRAINS OUT? THINK ABOUT IT PEOPLE. THEY JUST WANT TO BEAT US IN SOMETHING, AND TOYOTA IS KAMAKAZE IN DISGUISE! I HOPE GM TEACHES THEM A LESSON. DONT FUCK WITH AMERICA!!!!! WE WILL BEAT UR SORRY ASS SO BAD! COUNT ON IT!
DO YOU GUYS HONESTLY THINK TOYOTA CARES ABOUT AMERICANS? THEY JUST WANT THIER PROFITS TO GO BACK TO JAPAN. SUPPORT AMERICAN COMPANIES AND KEEP OUR MONEY IN AMERICA! SHEEESH. SIMPLE CONCEPT THAT EVEN THE JAPANESE FOLLOW. TELL ME HOW MANY AMERICAN CARS YOU SEE WHEN YOU GO TO JAPAN. FYI TOYOTA GOT A BAILOUT FROM THE JAPANESE GOV. TOO. EXEPT THEY DID'T NEED IT!!! YOU TOYOTA COCKSUCKERS NEED TO GET A CLUE! FOR REAL.
@carboismiles Here's something good about GM: If they can convince millions of people that they have overcome their past quality issues; if they can convince millions that they are superior to ToyHoSsan; if they can convince millions of people that it was really OK for them to take the huge government bailout; and, if they can manage their costs well enough to provide a solid product at a competitive cost; then they MIGHT not face bankruptcy in the future.
If Gm has alot of extra money laying around, they should send all the people that bought their Junk cars, with the leaking manifold gasket problem, slipping transmissions, and cv joints that always fail at around 40k miles, right when the warranty expires, a check to reimburse them for repair cost.
YOU PEOPLE NEED TO STOP WORSHIPING TOYOTA AND GET A LIFE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! DON'T UNDERESTIMATE GM. A TRUE AMERICAN ICON. YOU PEOPLE CAN DISS YOUR OWN COUNTRY, AND SAY WHATEVER YOU LIKE. BUT ITS BASICALLY JUST TALK. AMERICA ALWAYS WINS AT THE END! THE DAY GM WENT DOWN, I KNEW THEY WERE GOING TO COME BACK ROARING! GM IS GOING TO BE NO.1 IN THE WORLD AGAIN THIS YEAR! LETS FOCUS ON MAKING AMERICA PROSPER AGAIN. :)
@carboismiles America is 200 years old. That's about 1/2 the age of even one Chinese Dynasty. We are still a little baby.
We have had a good run of it, it's true.
But, if you are less than 40, the odds are high that you will live to see America become a smoldering 3rd world shithole.
And it's not because of Toyota. It's because we abandoned capitalism. We let government make decisions instead of the people. The people voted to not support GM - they stopped buying so many of their cars.
BUSTASMITH, ITS PEOPLE LIKE YOU WHO MAKE THIS COUNTRY SAD! YOU OBVIOUSLY DONT CARE ABOUT AMERICA. I KNOW WHAT KIND OF PERSON YOU ARE. ALL YOU DO IS TAKE ADVANTAGE OF THIS GREAT COUNTRY AND LATER STAB AMERICA RIGHT IN THE BACK! DUDE UR GOING TO HELL, AND YOU CAN COUNT ON IT UNTIL YOU FIX YOUR DAMN ATTITUDE! YOU IDIOTS THINK YOU CAN TYPE ANYTHING YOU WANT AND GET AWAY WITH IT? GOD BLESS AMERICA!!!
Fuck everyone who says that we should have GM fail!!! Your all are a bunch of sheep, following the other retarded sheep that say GM is bad. Without GM your beloved Toyotas wouldn't even exist. And you won't see those shitty Toyota Crapollas chugging along on the road! GM built the first Toyota factory. GM and Ford are the ones who are responsible for starting the industrial revolution. IPO MONSTER, DO YOU HAVE ANY FUCKING IDEA WHAT WOULD HAVE HAPPENED IF WE LET THEM FAIL?! DIDNT THINK SO!!!
I'm glad this guy said it right. Let GM Fail ! They already have in my book because I will NEVER buy another american car for as long as I live. FK all your union made JUNK. You make nothing good, there is no pride in what any of you build here. Your technology is so far behind Toyota and anything German it's unreal. For those who know, KNOW !! For the rest of you, go ahead and buy your so called american junk. I'll stick to what I know & buy Jap 4 the rest of my life. FK GM, gimme my money back
all I have to say is fuck GM (Government Motors) and even the other 2 so called american car companies. GM has been sold us out back in the 80's. Remember GEO ? All those GEO's were bought and made by foreign car companies only to have an american car company slap an american badge on them ! GEO Prism = Toyota Corolla. GEO Tracker = Suzuki Samurai, GEO Metro = Suzuki Swift, just to name a few. You people are so pathetic & you call yourselves american, go figure. Fk america, this country is SAD !
"The government got a majority ownership in GM's stock"
This, in fact, makes it impossible for GM to pay the government back. Investments of over 20% of a firm's common stock is accounted for with the equity method. Anything GM does with its money will immediately translate to the proportional interest of the government. For GM to pay the government anything is mostly just paying itself until the government sells the stock.
You forgot to mention that they used bailout money to make commercials proudly stating thay they paid back the loan to the American tax payer. So they used our taxes to make a commercial to LIE to us!
Printing money is similar to print holy books. Govt paid nothing to them and they paid nothing back. The bankers arranged everything pre-printed. GM are now controlled by bankers and their CEOes are bonus driven, not productivity driven.
Your fucking stupid get a real job! What does it even matter to you how they paid them back your just mad because I bet you drive a piece of shit ford or toyota
@98gmcsuburban At least Ford's steering wheels don't fall off. GM is taking all your money and dumping it in foreign countries. They know the US market is doomed for them cause of their continued reliance on manufacturing trash. They ruined Saab, Isuzu, Suzuki to name a few. I hope they go out of business for good soon.
GM BABY! American cars to the death! Thank you Obama (and America) for saving hundreds of thousands of jobs :) The company has done a 180 turn around, and is currently the number one selling brand in all of North America!
@molaman14 GM is becoming less and less American oddly enough with all the US taxpayer money. If you really want American buy a Ford, MUCH better products and didn't rob the American people.
If I didn't have a condition that prevented me from shedding tears, I think I would be crying right now. Can government get out of the business of spending money it doesn't have.
Yet another reason why I will never by GM. Ever. If Ford made anything I liked, I'd buy Ford. Unfortunately, I don't like their styling. So Nissan, Toyota, and Volvo get our business.
Just say NO to Unions, and the government subsidized corporations that hire them.
"Jackie Calmes of the New York Times was on Candy Crowley’s program on CNN this morning and claimed that the bank and automobile bailouts have been repaid with interest." Is that true?
Joe Biden claimed that the $862 Billion failed stimulus ($400 remains unspent) “created or saved” 750,000 jobs. Economists don’t recognize jobs saved, and the jobs saved may have been keep local agencies afloat. When the money ran out, the people lost their jobs. Currently States are considering filing bankruptcy for spending. watch?v=IqmeT5ykKf0
The Govt owns 61% of GM, GOOGLE, “GM's electric-car fantasy running out of gas” and read links. The Green Movement should be free market driven
I do not get what is going on in the Corporate world, how our Government is working with corporations, if they are, whether there is written rules and laws governing transactions being made. Can we access papers to see what exactly is going on?
It's nice to know that our money did so much good for gm, just think of the bonuses given out to it's top exectutives for the successful robbery of the american people! I wonder where all of GM's famous bean counters went when it came to exectutive spending? I know they cut corners everywhere they can on the cars they sell..
@DroidNoid A Ford???...I'll stick with toyota, Honda....American cars they all suck,
not reliable, ugly dish washers look-alike, FUCK GM, FORD AND DOMESTIC, THEY DESERVE WHAT'S COMING TO THEM AFTER ALL THESE YEAR STEALING PEOPLES MONEY MAKING POS CARS!!!!
@syn010110 It's really good for the 200,000 employees who work for GM, and the consumers who buy their cars. They have a market share of 15-35%. And yeah I guess it is okay to suck if there are so many things being depending on it to even exist. Obviously the government doesn't bailout business that doesn't matter.
However, despite Investing in GM (which is unfortunetly ultra-uncompetitve due to its business model) with other ppls money being immoral, a lot of their problems were caused by the FED, the banks, and financing ppl they shouldn't have, etc... Though they should've keep a cooler head like some car makers, its not totally their fault so maybe they deserve a 2nd chance, But Proping-up an uncompetitve company, will ultimately cause more to suffer, hurt the poor, & do greater harm than good.
@Tboninator I understand why you might think this way T. i think your heart is in the right place and It would take a deeper, more reasoned understanding of economics to think otherwise. I can't say I agree with you tring to manipulate these ppl towards what your thinking though, by giving grossly exagerated figures ("millions of jobs lost") when GM alone employees less than 205,000 ppl and a lot of those jobs arn't in America.
Gotta' love all the ignorance being spewed in this comment section... GM hate and import bias from people who would love to see the US collapse. Pathetic.
Hourly wages for United Auto Workers laborers at General Motors Corp. factories actually are almost equal to those paid by Toyota Motor Corp. at its older U.S. factories, according to the companies. GM says the average UAW laborer makes $29.78 per hour, while Toyota says it pays about $30 per hour.
@DroidNoid if you treated your american car like an import it would last longer. Stupid americans don't take care of their american made cars like imports. As in anything in live you get out of it what you put into it.
@DroidNoid did the head warp? Better yet why go to the dealer? Those SOB's have no interest in solving any problem only making profit. that's why they were the first to go. but wait Ford is selling a new technology using Plasma Transferred Wire Arc (PTWA) process, what bullshit!
damn unions they got more greedy then their ceo's toyota workers make 38 bucks an hour sign me up to put the same part on a car 78 buck give me a break this is why they are losing their jobs take a pay cut and stop bitching i think your job is worth a little bit more then your union pride
@7475flyersfan This is a fucking lie the only difference between GM and Toyota is $10 an hour and it's mainly due to retirement benefits to the old timers on average $1400 per car. Yeah it sucks that GM actually still pays any money to it's retirees, FUCKING DOUCHEBAG!
If you think about it, when the Auto industry got their Bailouts, what was the first ads you saw for them on tv? Trucks!! Big Trucks that can haul huge payloads. Really?? They just got bailed out for not competeing in the "Green Market" and their first ads about Huge (gas guzzling) Trucks. And we still see those ads today. Now, years later, they start making better mileage cars. Really??? When did the fine idiots at GM (and the rest) to start competeing?
@SharkDude1 well it was trucks because trucks always sell. They are tool for companies and they can't do without. So they just secured what was working for them first. Does not mean I agree with bailout, cause if a company drops it's because they arent filling out a need in the market. So restructure and move on. Isuzu returned to commercial equipement and trucks when it stopped working for them in the passenger car niche afterall.
Doesn't matter what he's a member of. What he's speaking is truth. Something you guys don't want to hear, because you're all hell bent on GM going down, and the US entering a severe depression because of your ignorance...
Are you really that butt hurt because GM got 162 dollars from you?
what you have to ask yourself is- Is GM making better cars this year then they did in the past few years? and the answer is yes, Is it a little late yes, is it too late no if you care about the shape of the U.S. then you would be smart enough to see that a company of this size crashing would be very bad, now does it suck that the gov. is part owner yes but if it means that the ceo of GM sits in the back while the Gov. grabs the wheel and steers GM to where it should be for now then so be it
I mean really out of all the cars GM has made what % of them can you say are unsafe? the vette (no sports car is safe) and Saturn which is long gone I can tell you first hand how safe a GM car is I hit black ice I a slight curve going 55 hit a tree on the DRIVERS SIDE of the car I didn't break a bone, I didn't need stitches just a tiny cut from a peice of glass from where the TREE broke the windows so lets not talk out of our asses people
yeah what they did was wrong but the jab at the end about gm safety are you kidding? and shitty cars come on they sold over 70% of the cars in the U.S. at one point but this is what happens when the CEO of a heads up display company for jets takes over GM (back in 01 I believe) it makes me mad b/c my father has sold cars for GM for over 30years and is ranked 7th in the world for Cadillac and as soon as this guy came in they started pumping out shit and only now they wise up and build good cars
First of all. There is so much BS out there, i'm tired of this shit. I don't want to hear nothing but truth. GM did not pay its loan back in full. Neither is Randall Stephenson the owner of GM. Nor is my dog a Pit Bull. Neither does Senator John McCain own a jumbo jet.
They also took the loan so they can still hire more engineers at 60 to 70k a year so they can sit around all day and do nothing. I work a contract job at the GM Tech Center in Warren & trust me the engineers their barely do a lick of work & get paid way to much. Plus all the other higher up's are still getting raises & bonuses. Wanna save the company alot of cash get rid of alot of your overpaid office workers that work at the Tech Center and the GM headquarters.
If that company didn't make up a gigantic portion of our economy, it would have gone under. But the millions of jobs lost, and losses our economy would have taken with the death of GM/Chrysler would have sent us further into depression. So far that it wasn't really an option to let either one die. Stop bitching and be proud your tax dollars went to support the nation you live in.
@Tboninator you dumb ass piece of shit, why would I want a company who makes shit cars to stay in business? If the people are skilled, they'll find new jobs at the company who REPLACES GM. You are one dumb piece of shit if you think GM is the only company that can hire these people.
Because 1) they're making plenty of HOT cars right now, that are selling really well, so obviously they're not "shit ". 2) Such a massive flood of unemployed American citizens, would destroy our economy even further, sending us into a full blown depression rather than just the recession we had. 3) Its hard enough for people to find jobs as it is... Imagine if there were a couple million more people in the job market?
@Tboninator Did you watch the fucking video, you dumb asshole? If they are selling so well, how come they can't pay us back? Listen up shithead, there are TONS of car companies that have gone out of business, it's no big deal. Those with capital left over will pick up the valuable pieces and let the nonprofitable trash fail.
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It's as though your history lessons only went back a decade or two. Before bailouts, good companies bought up the valuable assets and the economy prospered.
I don't have to watch the video of some biased asshole to know how well Chevy and it's sister companies are selling vs the competition, fagtron. They've come out with quite a few hot sellers since the bailout, and their quality has gone up a LOT.
You don't seem to even have a BASIC understanding of the situation at hand. This isn't just some small car company, this is a MAJOR pillar to our economy, and if it were to falter, there wouldn't be any "picking up the valuable pieces", because the damage would already be done, because not only would it be GM going under, it would also be it's suppliers, dealers, stock holders, etc, etc. Go back to economics 101 and come here when you've got a basic understanding
@Tboninator They filed for bankruptcy even with the bailout you dipshit!!! They "went under." What a bullshit exaggeration from someone who works at that shitty company. There are tons of car companies that would take GM's place, but the government sets up too many barriers.
And how many jobs were lost in the end result? None, thanks to the bailouts. Bankruptcy alone would have not only ended with millions of stockholders getting completely fucked (which they still did), but it would have resulted in the loss of most dealerships, the dying of even more car brands, the shutting down of plants, no money for R&D, and no one there to pick up whatever pieces were available, due to not only the piss poor US economy, but the world economy at that.
@Tboninator "None, thanks to the bailouts." Except all the other millions thanks to taxation, and the safety of those who failed instead of being replaced with better ones. It's a subsidy to failure.
Bottom line: You're the dumb ass little piece of shit here, along with all the other GM hating fools that can't think past their baseless hatred for a company and realize how important it is to our economy, and wishing bad on it's employees, because they wouldn't be able to support themselves or their families.
I'm sure you're so missing your 160 dollars from bailing out GM and Chrysler, aren't you... You'll just never recover, will you? Get your head out of your ass.
GM will say anything to boost their auto sales. Of course, this is much how it works on car sales lots and auto repair shops, anyways. The whole industry is built on a solid foundation of liars.
i agree..even AIg..how in the hell did they pay these back with our ecomy going down more and more every month..no way have they been able to build that much money plus pay their investors etc...we are being scammed up the yang yang lol
What do you want them to do then?! Speaking in literal terms they had no choice and now wallow in their filth, true, however, it's the government regulated policies that are in fact the root of it all.
GOVERNMENT MOTORS, formally known as GENERAL MOTORS, is now owned by the government with it's head CEO Obama. They are now as sneaky & corrupt as the FEDERAL GOVERNMENT. How does everyone feel about the new announcement that GOVERNMENT MOTORS is building a new plant to employ around 900 people? It is to be built in MEXICO! Did the bailout money come from Mexico's tax dollars? NO, THE BAILOUT MONEY CAME FROM UNITED STATES TAX DOLLARS! THEY TAKE OUR MONEY BUT SEND THEIR JOBS ELSEWHERE! FUCKERS!!!
Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Car loans were specifically written out of the new legislation. Spitting in our faces, GM announced plans to buy Americredit Corp (ACF) immediately after Obama signed the bill. ACF has steadily declining sales revenues and is losing money, so why should the highest and only bidder be GM with taxpayer money? Reforming what industry and protecting who?
HE IS EXACTLY RIGHT and GM or the Federal Government didn't publicize this, THEY BORROWED FROM PETER AND PAID PAUL. if you can't run a company let them FAIL, that's capitalism not leave the American tax payers responsible for there mistakes, My Business is turned to ''FORD'' because unlike GM they can run a successful company in the US. showing a profit.
I can appreciate some frustration over this, but I'd like to make a few things clear. GM is selling cars. They're not funding criminal activity. Playing the shell game to pay off a loan is not a crime (at least not in 2010). If GM owners are happy with their purchase(s), does it honestly matter what funds they used to pay back one of their loans? Nobody's taxes went up. Nobody personally lost money. Nobody's puppy dog was killed. GM hasn't personally wronged anyone. Therefore, does this matter?
@JawsJaws They took out a loan to pay back a loan, which is odd, but what's illegal about it? If they pay back their debt (however long that takes), and they continue to make products that people like (and some people do, I'm one of them), their method of repayment really isn't relevant. As long as they're not funding drug traffic, poor labor practices, or the general public isn't taxed for their business practices e.g." as long as it doesn't come out of my pocket" I don't care what they do.
@Alternate2GOP Propaganda I'm sure. Nothing was different about it. At the same time, I don't see any harm done to the human population by putting out a bullshit ad. My only point was that so long as their business practices don't destroy the product, or pose ill-intent on the every day private citizen, I'm not going to boycott their products.
@Alternate2GOP- The money GOVERNMENT MOTORS used to pay back the US tax dollar funded bailout loan was another loan from the Federal Government which was also funded by our tax dollars!!! DO YOU GET THE POINT NOW? I seriously doubt that they will pay that loan back since they are owned by the Federal Government now. If that is paid back in full, then they may be a reputable company. But for now, they are as corrupt as the Fed. Gov. They STINK!
@Obamabeenlyinagain really? Exactly how much am I missing? Im not short any funds. Are you? I would like to know exactly how much down to the penny you or I spent to bail out GM.
This comment has received too many negative votesshow
Absolute waste of time on this video, you need to get a life. This fool probably thinks GM should have not given any money, typical uneducated republican tv.
I agree, I was just trying to clarify that the problem is bigger than Onstar. When I worked at GM there were many complaints about Onstar because it does actively track your car while your driving and if big brother comes with a warrant Onstar can not only give your location it can shut off your vehicle.Do you also know they can track your cell phone even when it's not on?Only by removing the battery can you disable that feature.
i dont recall posting any 'numbers' but sure.. Ford borrowed $26 billion from 'traditional sources' in 2006, they (FoMoCo) is set to pay back $3 billion this year (it was back in April i believe), which wasnt actaully due until 2013.. they are still left with another $3.7 billion owed to creditors, and are still $32 billion in debt.
it is what it is, im not hating on Ford, just stating the facts (facts that 98% of the general public have 0 knowledge of)
@andrewschenk - I believe what u say is true but there is a difference between Fords situation & gm-chrystler's situation. Gm - Chrystler went for the government bait with the strings attached (Gm & Chrystler have been known in the past for screwing over their customers) while Ford took the strait forward approach with no government take over. The money that Gm - Chrysler is “paying” back is being paid to the government . basic words, the government stole from the people & that is nothing new.
@NinjaForeChrist i also wouldnt say it was a government 'takeover'. although the US+Canadian governments technically have a controlling share (roughly 60% off the top of my head) they have no real control over operations and product lineup within the company.. although the Obama admin. and 'car czar' did give Rick Wagoner the boot from GM, and they do somewhat over see the executive lineup. they have no real control on cars produced and operations.
@andrewschenk - The gov’t has played to much of a role for me not to believe that the government & the people behind closed doors arnt running the show. u most likly know that & the fact that obamas "sugestion" had enough power to replace gms ceo from a person who knew something about cars to a politician (Whitacre I think is his name) who I quote says "I vow to learn about cars." also I know On Star is supposedly good but dont u think its a little to convenient for the government to track u?
How did GM get away with filling bankruptcy when they received the BILLIONS from the tax payer bailout? What a sham! I thought the bailout was to prevent a bankruptcy I don't even think they needed the money to begin with! I feel GM's greed took the American people and our government for fools! And we won't ever get our tax dollars back. It makes me sick to hear how much there white collar employees are getting in bonuses when they still owe the tax payers billions!
tbzooski 2 weeks ago
@tbzooski their employees drive around changing light bulbs and make a ton of money. You can also support America by buying Japanese cars at least now they are made in USA
huyisthebest 5 days ago
@tbzooski,
I have an idea for a movement. Occupy GM and its executives' offices!
MegaAstrodude 2 days ago
Not only has GM fully paid back the loan they got from the government, but the government also owns 33% of GM's stock. The stock will have to double in price, before the government can even break even on the billions they spent buying it. Otherwise, they will take a loss. This probably means GM will have to have at least a few more years of solid profits before their stock price returns to the level it was when the govt bought the shares.
josephc28 3 weeks ago
Hate on the American car company. What about the 34 Billion the GOP give to oil companies each year.
Zooni2 3 weeks ago
@Zooni2 At least the oil and gas companies are actually producing jobs. Obama rejected the Keystone pipeline which would have added thousands more jobs. Yet, the democrats wanna keep subsidizing corn farmers and ethanol producers, when ethanol doesn't even lessen our dependence on foreign oil or help the environment. Nobody is hating on GM. They put themselves in the position they are in. The government still owns 33% of GM's stock. It will have to double in price for the govt to break even.
josephc28 3 weeks ago
@josephc28,
Ethanol becomes profitable at around a price of $4.50 per gallon of gas so at least we won't ever see $5.00/gallon gasoline because of the subsidy. Of course, diesel engines could run on vegetable oil if the gov't didn't criminalize it. I'm hating on GM and encouraging Americans to boycott the company and shun its executives and their families. Only the poor who needed to work for GM to avoid more poverty should be exempt from blame.
MegaAstrodude 2 days ago
@Zooni2 I can assure you that Gillespie is just as critical of oil and gas subsidies as he is of bailouts.
stalrunner 2 weeks ago
@Zooni2,
The oil companies don't receive subsidies; that's a lie you see in the paper. The oil companies receive tax-exemptions that are granted to any oil company. You can start an oil company and get those breaks now! The hundreds of billions of dollars GM receives doesn't go to any real manufacturer of automobiles in the United States. I say real manufacturer because GM cars are so unreliable that they don't count as cars.
MegaAstrodude 2 days ago
@Zooni2,
Also, why is GM "American"? Most of their cars and car parts are made in China and their designs and engineering is also heavily outsourced. They have some parts plants and manufacturing in America, but so does Ford, Toyota, Honda, Hyundai, and many others.
If we raised the tariff on auto-parts and automobiles, our auto-industry would be infinitely better than with the subsidy system.
MegaAstrodude 2 days ago
His hands are making me dizzy...
newmissionorganics 3 weeks ago
I'll never buy another brand new Chevy product again. I used to buy nothing BUT Chevy. Well, when they accepted that bailout, they lost all my respect and business. I'll only buy used Chevy vehicles now, from used dealers. And I very well may not buy another Chevy again, period. It's not whether they pay their loan back or not, it's that they accepted it in the first place.
realworldbycj 3 weeks ago
I will always buy GM, they make some of the best.
RoIIsRoyceGhost 1 month ago
FUCK Garbage Motors.
drfaticus 1 month ago
Got to love this Guy...Hey don't tell my Mother I pocketed the change!
I really think B of A did the same thing...All of a sudden eveyone is making annoucments how they all paid Uncle Sam back in full with interest...I have got only one question...
WHERES THE MONEY ?????
mikellv7 4 months ago
GM needs to spend billions retooling it's factories, Honda already had factories and assembly lines in the United States that are modular. They can manufacture nearly any car in their lineup without significant retooling. Did Ford ever take a bailout? According to MotorTrend, Ford announced adding nearly 5000 plus workers in America by building next generation Fusion, Transit (replace Econoline vans) once made in Mexico. And a new secret vehicle (possible Ford Ranger or F-100)
spikedpsycho 4 months ago
Comment removed
IEATZR1 1 month ago
@spikedpsycho Ford did not take a bailout.
IEATZR1 1 month ago
@spikedpsycho I commend Ford for not taking a bailout. But their Trucks are the ONLY thing still manufactured in the states. How does that create jobs?
Plus; never really been a big Ford fan, ever. I just don't like their vehicles.
realworldbycj 3 weeks ago
They should have just given everyone in the US $17,000 checks instead of bailing out the people who can't even run their businesses. People should hang for that decision!
eFlux 4 months ago 2
Just remember, Herman Cain supported the TARP bailout ;)
bane349 5 months ago
This has been flagged as spam show
see the video ( GM Handicap kids )
workingmen1 5 months ago
I wonder where all the outrage was for Ronald Reagan's Socialist policy of bailing out the Savings and Loans? And though TARP was not popular, the only one who got accused of being a Socialist because of it was Barack Obama even though it was George W. Bush who signed it into law! I truly believe if Ronald Reagan had bailed out GM instead of Barack Obama you guys wouldn't root for its demise the way you do! GM has been profitable for the first time in years and paying back the loan!
luvitluvitbaby 5 months ago
WHAT?!?!?! An American corporation spewing bullshit? I'm afraid I can't believe THAT.
GetMeThere1 5 months ago
@GetMeThere1 It's the gov't that is spewing the baloney. Republicans should get GM execs back on Cap Hill to explain their phony math.
vince33x 5 months ago 2
My Altima is built in the USA- My best friend's 2010 Impala was built in Canada ( Canada is a great country-don't get me wrong) BUT if you are so convinced on buying a car made from a certain place, even if it is a piece of crap, you had better check the sticker in the doorjam and you will learn where it was built.
Rtfune 6 months ago
I think I'll keep my 06 Nissan Altima- Every GM car I have ever owned has started falling apart at or before 60,000 miles- (I am on vehicle #13) When the day comes that they can produce a car as good as or better than a Nissan, Honda or Toyota, I will GLADLY and PROUDLY give them my hard earned money, BUT it is a real pain in the ass when your car gets you and your family stranded when you are still making the payments. It becomes a safety issue at that point.
Rtfune 6 months ago
so you bailout the big companies because if they fail everybody loses jobs??? thats not a good excuse...
MrBigEnchilada 7 months ago
This has been flagged as spam show
@MrBigEnchilada You wrote "so you bailout the big companies because if they fail everybody loses jobs??? thats not a good excuse..."
especially if you like 22% national unemployment!!!! :-)
luvitluvitbaby 5 months ago
GM should never have gotten a cent, specially after shredding the EV1 & 2 and suing Toyota and Panasonic for doing the right thing for the people.
ZeerosFate 7 months ago
labor unions a large public sector and a beaucratic tax code are the foremost factors destroying america.
lvll138inrs 7 months ago
my question is. did they set up the escow WITH this plan in mind or did just happen to work out this way??
GWHH19 7 months ago
I like Nick and he is correct about most of this situation; however, I do not think GM makes bad cars. What they have done is been extremely poor at preparing for the future. The problems at GM started before many commenting here were born and stems from the belief that they like our government were too big to fail. They spent like drunks and provided great lives to their workers. While I think it is great they treated their workers well, they should have made the tough decision they needed to.
caesarmoridon 7 months ago
Atlas Shrugged
rubbersole79 8 months ago 3
I do remember my Mother giving me money to buy her a present & I always spent most of it on her & would buy her another little gift with the change. Gee, I can't believe that is what most people did with their mothers at Christmas or parents in general. Is that truly how low the level of love honesty & respect & how high greed is, that people would do that to their own parents ?
JezebelDecibel 8 months ago
@JezebelDecibel Hear that whistling sound? That was the point of his analogy flying right over your head....
fuguf1sh 7 months ago 10
@JezebelDecibel
The point was that General Motors "paid" the government's loan back, or at least the $6.7 billion, using money that the government gave to GM in the first place.
Watcher3223 7 months ago
24 people are GM/UAW humpers. What a shocker!
crackaddict444 8 months ago
This video is also a perfect example of how liberals lie. They only tell you certain facts which support their lying narrative, and completely omit other important facts which would give an entirely different conclusion and result.
leeuniverse 8 months ago
Buying Japanese cars is not as bad for the American auto industry as people say. When Americans buy foreign cars, it forces American automakers to say "crap, we need to improve our cars to get more customers". Competition, foreign and domestic, is just a passive method of quality control.
stalrunner 9 months ago 8
@stalrunner Yeah, thats true but these stupid fucks wont build better cars, they still suck. But who cares where the car company originally came from, Its important where the cars are built. Like the new Jetta , its built in tennesse, and some "american" car built in mexico or overseas.
AMERICA15543 9 months ago
@stalrunner Yes but if we buy there cars they can have the money to make newer cars. You just want an excuse to but foreign cars.
luisrock2008 1 week ago
@luisrock2008 Yes, they get our money..... and we get a car. Both are better off. Have you ever heard of the law of comparative advantage? But really, lines on a map don't matter. What matters is that buyer and seller are both made better off by the exchange.
stalrunner 1 week ago
@luisrock2008,
I'd love nothing more than to buy an American car, but GM cars are far too unreliable. If GM wasn't owned and subsidized by the government their cars would be illegal for safety reasons.
If you want to help American manufacturing, and you should, advocate higher tariffs and let GM die.
MegaAstrodude 2 days ago
FOR ALL YOU IGNORANT BASTARDS, FOR THE LAST TIME, TOYOTA IS NOT AMERICAN!!! NOT ONE BIT. THE JAPANESE ONLY STARTED BUILDING CARS HERE SO THEY WON'T GET HIT BY U.S. TARIFFS. TELL ME, IF THEY CARED SO MUCH ABOUT AMERICANS, THEN WHY WOULD THEY TRY TO BOMB OUR BRAINS OUT? THINK ABOUT IT PEOPLE. THEY JUST WANT TO BEAT US IN SOMETHING, AND TOYOTA IS KAMAKAZE IN DISGUISE! I HOPE GM TEACHES THEM A LESSON. DONT FUCK WITH AMERICA!!!!! WE WILL BEAT UR SORRY ASS SO BAD! COUNT ON IT!
carboismiles 10 months ago
@carboismiles OK so we bailed out Chrysler an American Co. that will now be owned by fiat glad we could help Italy take over Chrysler.
VOTETHEDUMMYOUT 9 months ago
DO YOU GUYS HONESTLY THINK TOYOTA CARES ABOUT AMERICANS? THEY JUST WANT THIER PROFITS TO GO BACK TO JAPAN. SUPPORT AMERICAN COMPANIES AND KEEP OUR MONEY IN AMERICA! SHEEESH. SIMPLE CONCEPT THAT EVEN THE JAPANESE FOLLOW. TELL ME HOW MANY AMERICAN CARS YOU SEE WHEN YOU GO TO JAPAN. FYI TOYOTA GOT A BAILOUT FROM THE JAPANESE GOV. TOO. EXEPT THEY DID'T NEED IT!!! YOU TOYOTA COCKSUCKERS NEED TO GET A CLUE! FOR REAL.
carboismiles 10 months ago
WHAT YOU LOSERS NEED IS TO HAVE THE BALLS TO SAY SOMETHING GOOD ABOUT GM!
carboismiles 10 months ago
@carboismiles Here's something good about GM: If they can convince millions of people that they have overcome their past quality issues; if they can convince millions that they are superior to ToyHoSsan; if they can convince millions of people that it was really OK for them to take the huge government bailout; and, if they can manage their costs well enough to provide a solid product at a competitive cost; then they MIGHT not face bankruptcy in the future.
zyodei 10 months ago
If Gm has alot of extra money laying around, they should send all the people that bought their Junk cars, with the leaking manifold gasket problem, slipping transmissions, and cv joints that always fail at around 40k miles, right when the warranty expires, a check to reimburse them for repair cost.
federalwarhawk 9 months ago
@carboismiles
listen up sally, there is nothing good about GM
The fucking company and their products sucks, and their stock accurately reflects this.
The UAW is nothing but a pack of uneducated idiots, and their actions drove GM to bankruptcy, and I think its going to happen again.
tradernorton05 9 months ago
YOU PEOPLE NEED TO STOP WORSHIPING TOYOTA AND GET A LIFE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! DON'T UNDERESTIMATE GM. A TRUE AMERICAN ICON. YOU PEOPLE CAN DISS YOUR OWN COUNTRY, AND SAY WHATEVER YOU LIKE. BUT ITS BASICALLY JUST TALK. AMERICA ALWAYS WINS AT THE END! THE DAY GM WENT DOWN, I KNEW THEY WERE GOING TO COME BACK ROARING! GM IS GOING TO BE NO.1 IN THE WORLD AGAIN THIS YEAR! LETS FOCUS ON MAKING AMERICA PROSPER AGAIN. :)
carboismiles 10 months ago
@carboismiles America is 200 years old. That's about 1/2 the age of even one Chinese Dynasty. We are still a little baby.
We have had a good run of it, it's true.
But, if you are less than 40, the odds are high that you will live to see America become a smoldering 3rd world shithole.
And it's not because of Toyota. It's because we abandoned capitalism. We let government make decisions instead of the people. The people voted to not support GM - they stopped buying so many of their cars.
zyodei 10 months ago 4
BUSTASMITH, ITS PEOPLE LIKE YOU WHO MAKE THIS COUNTRY SAD! YOU OBVIOUSLY DONT CARE ABOUT AMERICA. I KNOW WHAT KIND OF PERSON YOU ARE. ALL YOU DO IS TAKE ADVANTAGE OF THIS GREAT COUNTRY AND LATER STAB AMERICA RIGHT IN THE BACK! DUDE UR GOING TO HELL, AND YOU CAN COUNT ON IT UNTIL YOU FIX YOUR DAMN ATTITUDE! YOU IDIOTS THINK YOU CAN TYPE ANYTHING YOU WANT AND GET AWAY WITH IT? GOD BLESS AMERICA!!!
carboismiles 10 months ago
bustasmith why don't you just go live in JAPAN AND U CAN BUY ALL THE JAP CARS YOU WANT! AMERICA, LOVE IT OR LEAVE IT.
carboismiles 10 months ago
@carboismiles You should go move to China or North Korea, they are going to love your nationalist ideas
wokeupthismorning100 6 months ago
@carboismiles Your're just jealous.
wokeupthismorning100 6 months ago
Fuck everyone who says that we should have GM fail!!! Your all are a bunch of sheep, following the other retarded sheep that say GM is bad. Without GM your beloved Toyotas wouldn't even exist. And you won't see those shitty Toyota Crapollas chugging along on the road! GM built the first Toyota factory. GM and Ford are the ones who are responsible for starting the industrial revolution. IPO MONSTER, DO YOU HAVE ANY FUCKING IDEA WHAT WOULD HAVE HAPPENED IF WE LET THEM FAIL?! DIDNT THINK SO!!!
carboismiles 10 months ago
I'm glad this guy said it right. Let GM Fail ! They already have in my book because I will NEVER buy another american car for as long as I live. FK all your union made JUNK. You make nothing good, there is no pride in what any of you build here. Your technology is so far behind Toyota and anything German it's unreal. For those who know, KNOW !! For the rest of you, go ahead and buy your so called american junk. I'll stick to what I know & buy Jap 4 the rest of my life. FK GM, gimme my money back
bustasmith 10 months ago
all I have to say is fuck GM (Government Motors) and even the other 2 so called american car companies. GM has been sold us out back in the 80's. Remember GEO ? All those GEO's were bought and made by foreign car companies only to have an american car company slap an american badge on them ! GEO Prism = Toyota Corolla. GEO Tracker = Suzuki Samurai, GEO Metro = Suzuki Swift, just to name a few. You people are so pathetic & you call yourselves american, go figure. Fk america, this country is SAD !
bustasmith 10 months ago
Comment removed
tnguyen318 10 months ago
"The government got a majority ownership in GM's stock"
This, in fact, makes it impossible for GM to pay the government back. Investments of over 20% of a firm's common stock is accounted for with the equity method. Anything GM does with its money will immediately translate to the proportional interest of the government. For GM to pay the government anything is mostly just paying itself until the government sells the stock.
koahzvika 10 months ago
GM, return the STOLEN money of the American people and just go out of business already.
The New GM: Still the Same Old Trash.
DJFG85 10 months ago
You forgot to mention that they used bailout money to make commercials proudly stating thay they paid back the loan to the American tax payer. So they used our taxes to make a commercial to LIE to us!
Drake3209 10 months ago 2
@Drake3209 More alarming, the fact they took US taxpayer money and dumped billions in CHINA! WTF IS THAT SHIT?
DJFG85 10 months ago 2
All GOP can do now is hiding oil manipulation behind those bankers. Remember who killed electric cars?
beancube2010 10 months ago
Printing money is similar to print holy books. Govt paid nothing to them and they paid nothing back. The bankers arranged everything pre-printed. GM are now controlled by bankers and their CEOes are bonus driven, not productivity driven.
beancube2010 10 months ago
Your fucking stupid get a real job! What does it even matter to you how they paid them back your just mad because I bet you drive a piece of shit ford or toyota
98gmcsuburban 11 months ago
@98gmcsuburban At least Ford's steering wheels don't fall off. GM is taking all your money and dumping it in foreign countries. They know the US market is doomed for them cause of their continued reliance on manufacturing trash. They ruined Saab, Isuzu, Suzuki to name a few. I hope they go out of business for good soon.
DJFG85 10 months ago
You dont have any money , Your goverment doesent have any money The money was made at the mint , its counterfit.
dynomike1964 11 months ago
GM BABY! American cars to the death! Thank you Obama (and America) for saving hundreds of thousands of jobs :) The company has done a 180 turn around, and is currently the number one selling brand in all of North America!
molaman14 11 months ago
@molaman14 Well #2. Ford takes the cake.
cerbarus3000 11 months ago
@molaman14 GM is becoming less and less American oddly enough with all the US taxpayer money. If you really want American buy a Ford, MUCH better products and didn't rob the American people.
DJFG85 10 months ago
If I didn't have a condition that prevented me from shedding tears, I think I would be crying right now. Can government get out of the business of spending money it doesn't have.
HVACSoldier 11 months ago
Yet another reason why I will never by GM. Ever. If Ford made anything I liked, I'd buy Ford. Unfortunately, I don't like their styling. So Nissan, Toyota, and Volvo get our business.
Just say NO to Unions, and the government subsidized corporations that hire them.
webfulcrum 11 months ago
What about the banks?
gaBehcuoDsuoitneterP 11 months ago
"Jackie Calmes of the New York Times was on Candy Crowley’s program on CNN this morning and claimed that the bank and automobile bailouts have been repaid with interest." Is that true?
gaBehcuoDsuoitneterP 11 months ago
GM = LIARS!
area51johnp 1 year ago
GM made money because they sold more cars in China than the US. China is keeping America alive.
Spytheweb 1 year ago
@Spytheweb I am going to learn Chinese so when it comes time to beg for food..I'll know what to say.
iversonmatthew 1 year ago
Joe Biden claimed that the $862 Billion failed stimulus ($400 remains unspent) “created or saved” 750,000 jobs. Economists don’t recognize jobs saved, and the jobs saved may have been keep local agencies afloat. When the money ran out, the people lost their jobs. Currently States are considering filing bankruptcy for spending. watch?v=IqmeT5ykKf0
The Govt owns 61% of GM, GOOGLE, “GM's electric-car fantasy running out of gas” and read links. The Green Movement should be free market driven
Oktoberfesting 1 year ago
"CHEVY RUNS DEEP" in the taxpayers pocket
vsnips 1 year ago
I do not get what is going on in the Corporate world, how our Government is working with corporations, if they are, whether there is written rules and laws governing transactions being made. Can we access papers to see what exactly is going on?
heartlessvietboy 1 year ago 2
Straight to the point. Amerians and the rest of the world is not fooled by this 3 card monte game.
jeffersonblackmon 1 year ago
It's nice to know that our money did so much good for gm, just think of the bonuses given out to it's top exectutives for the successful robbery of the american people! I wonder where all of GM's famous bean counters went when it came to exectutive spending? I know they cut corners everywhere they can on the cars they sell..
Oldbmwr100rs 1 year ago
@DroidNoid A Ford???...I'll stick with toyota, Honda....American cars they all suck,
not reliable, ugly dish washers look-alike, FUCK GM, FORD AND DOMESTIC, THEY DESERVE WHAT'S COMING TO THEM AFTER ALL THESE YEAR STEALING PEOPLES MONEY MAKING POS CARS!!!!
denonphyte 1 year ago
If you're an auto company and you make shitty cars, you deserve to go out of business.
This bailout bullshit just sends a message that it's okay to suck, the government will keep you afloat.
syn010110 1 year ago 29
@syn010110 It's really good for the 200,000 employees who work for GM, and the consumers who buy their cars. They have a market share of 15-35%. And yeah I guess it is okay to suck if there are so many things being depending on it to even exist. Obviously the government doesn't bailout business that doesn't matter.
sebbeks 7 months ago
However, despite Investing in GM (which is unfortunetly ultra-uncompetitve due to its business model) with other ppls money being immoral, a lot of their problems were caused by the FED, the banks, and financing ppl they shouldn't have, etc... Though they should've keep a cooler head like some car makers, its not totally their fault so maybe they deserve a 2nd chance, But Proping-up an uncompetitve company, will ultimately cause more to suffer, hurt the poor, & do greater harm than good.
KartChampion 1 year ago
@Tboninator I understand why you might think this way T. i think your heart is in the right place and It would take a deeper, more reasoned understanding of economics to think otherwise. I can't say I agree with you tring to manipulate these ppl towards what your thinking though, by giving grossly exagerated figures ("millions of jobs lost") when GM alone employees less than 205,000 ppl and a lot of those jobs arn't in America.
KartChampion 1 year ago 3
Gotta' love all the ignorance being spewed in this comment section... GM hate and import bias from people who would love to see the US collapse. Pathetic.
Tboninator 1 year ago
Hourly wages for United Auto Workers laborers at General Motors Corp. factories actually are almost equal to those paid by Toyota Motor Corp. at its older U.S. factories, according to the companies. GM says the average UAW laborer makes $29.78 per hour, while Toyota says it pays about $30 per hour.
beachnative420 1 year ago
@DroidNoid if you treated your american car like an import it would last longer. Stupid americans don't take care of their american made cars like imports. As in anything in live you get out of it what you put into it.
beachnative420 1 year ago
The method I'm using doesn't require a website, and you don't risk your money! I found it at ez-casino(dot)com, BTW...
taunyaBriggshrfe 1 year ago
Fuck GM. They should have went bankrupt. Right now the only thing they have worth mentioning is the Volt. And people are still bitching about it.
youtubasoarus 1 year ago
@DroidNoid did the head warp? Better yet why go to the dealer? Those SOB's have no interest in solving any problem only making profit. that's why they were the first to go. but wait Ford is selling a new technology using Plasma Transferred Wire Arc (PTWA) process, what bullshit!
beachnative420 1 year ago
damn unions they got more greedy then their ceo's toyota workers make 38 bucks an hour sign me up to put the same part on a car 78 buck give me a break this is why they are losing their jobs take a pay cut and stop bitching i think your job is worth a little bit more then your union pride
7475flyersfan 1 year ago
@7475flyersfan This is a fucking lie the only difference between GM and Toyota is $10 an hour and it's mainly due to retirement benefits to the old timers on average $1400 per car. Yeah it sucks that GM actually still pays any money to it's retirees, FUCKING DOUCHEBAG!
beachnative420 1 year ago
@beachnative420 look it up it was on the news
7475flyersfan 1 year ago
If you think about it, when the Auto industry got their Bailouts, what was the first ads you saw for them on tv? Trucks!! Big Trucks that can haul huge payloads. Really?? They just got bailed out for not competeing in the "Green Market" and their first ads about Huge (gas guzzling) Trucks. And we still see those ads today. Now, years later, they start making better mileage cars. Really??? When did the fine idiots at GM (and the rest) to start competeing?
SharkDude1 1 year ago
@SharkDude1 well it was trucks because trucks always sell. They are tool for companies and they can't do without. So they just secured what was working for them first. Does not mean I agree with bailout, cause if a company drops it's because they arent filling out a need in the market. So restructure and move on. Isuzu returned to commercial equipement and trucks when it stopped working for them in the passenger car niche afterall.
Veikra 1 year ago
I see that nickv11763 is a member of UAW.
alexdroog4 1 year ago
@alexdroog4
Doesn't matter what he's a member of. What he's speaking is truth. Something you guys don't want to hear, because you're all hell bent on GM going down, and the US entering a severe depression because of your ignorance...
Are you really that butt hurt because GM got 162 dollars from you?
Tboninator 1 year ago
and the sad thing is at 21 I can see what most at 30 can't and even worse is that every year ppl dumb down so where are we heading?
nickv11763 1 year ago
what you have to ask yourself is- Is GM making better cars this year then they did in the past few years? and the answer is yes, Is it a little late yes, is it too late no if you care about the shape of the U.S. then you would be smart enough to see that a company of this size crashing would be very bad, now does it suck that the gov. is part owner yes but if it means that the ceo of GM sits in the back while the Gov. grabs the wheel and steers GM to where it should be for now then so be it
nickv11763 1 year ago
I mean really out of all the cars GM has made what % of them can you say are unsafe? the vette (no sports car is safe) and Saturn which is long gone I can tell you first hand how safe a GM car is I hit black ice I a slight curve going 55 hit a tree on the DRIVERS SIDE of the car I didn't break a bone, I didn't need stitches just a tiny cut from a peice of glass from where the TREE broke the windows so lets not talk out of our asses people
nickv11763 1 year ago
yeah what they did was wrong but the jab at the end about gm safety are you kidding? and shitty cars come on they sold over 70% of the cars in the U.S. at one point but this is what happens when the CEO of a heads up display company for jets takes over GM (back in 01 I believe) it makes me mad b/c my father has sold cars for GM for over 30years and is ranked 7th in the world for Cadillac and as soon as this guy came in they started pumping out shit and only now they wise up and build good cars
nickv11763 1 year ago
First of all. There is so much BS out there, i'm tired of this shit. I don't want to hear nothing but truth. GM did not pay its loan back in full. Neither is Randall Stephenson the owner of GM. Nor is my dog a Pit Bull. Neither does Senator John McCain own a jumbo jet.
heartlessvietboy 1 year ago
They also took the loan so they can still hire more engineers at 60 to 70k a year so they can sit around all day and do nothing. I work a contract job at the GM Tech Center in Warren & trust me the engineers their barely do a lick of work & get paid way to much. Plus all the other higher up's are still getting raises & bonuses. Wanna save the company alot of cash get rid of alot of your overpaid office workers that work at the Tech Center and the GM headquarters.
DrWeird74 1 year ago
If GM were to give me a car... I'd trade it in on a Honda or something that is dependable. For years, I've said, GM stands for Garbage Motors.
thelazycomic 1 year ago
What the hell ever happened to Capitalism. If the company is going to go under let it go under.
Mezey5 1 year ago
@Mezey5
"Survival of the Fittest" only applies to nature in some people's minds.
elsquibbs 1 year ago
@Mezey5
If that company didn't make up a gigantic portion of our economy, it would have gone under. But the millions of jobs lost, and losses our economy would have taken with the death of GM/Chrysler would have sent us further into depression. So far that it wasn't really an option to let either one die. Stop bitching and be proud your tax dollars went to support the nation you live in.
Tboninator 1 year ago
@Tboninator you dumb ass piece of shit, why would I want a company who makes shit cars to stay in business? If the people are skilled, they'll find new jobs at the company who REPLACES GM. You are one dumb piece of shit if you think GM is the only company that can hire these people.
savemyplaylist 1 year ago
@savemyplaylist
Because 1) they're making plenty of HOT cars right now, that are selling really well, so obviously they're not "shit ". 2) Such a massive flood of unemployed American citizens, would destroy our economy even further, sending us into a full blown depression rather than just the recession we had. 3) Its hard enough for people to find jobs as it is... Imagine if there were a couple million more people in the job market?
Tboninator 1 year ago
@Tboninator Did you watch the fucking video, you dumb asshole? If they are selling so well, how come they can't pay us back? Listen up shithead, there are TONS of car companies that have gone out of business, it's no big deal. Those with capital left over will pick up the valuable pieces and let the nonprofitable trash fail.
----
It's as though your history lessons only went back a decade or two. Before bailouts, good companies bought up the valuable assets and the economy prospered.
savemyplaylist 1 year ago 24
@savemyplaylist
I don't have to watch the video of some biased asshole to know how well Chevy and it's sister companies are selling vs the competition, fagtron. They've come out with quite a few hot sellers since the bailout, and their quality has gone up a LOT.
Tboninator 1 year ago
@savemyplaylist
You don't seem to even have a BASIC understanding of the situation at hand. This isn't just some small car company, this is a MAJOR pillar to our economy, and if it were to falter, there wouldn't be any "picking up the valuable pieces", because the damage would already be done, because not only would it be GM going under, it would also be it's suppliers, dealers, stock holders, etc, etc. Go back to economics 101 and come here when you've got a basic understanding
Tboninator 1 year ago
@Tboninator They filed for bankruptcy even with the bailout you dipshit!!! They "went under." What a bullshit exaggeration from someone who works at that shitty company. There are tons of car companies that would take GM's place, but the government sets up too many barriers.
savemyplaylist 1 year ago 2
@savemyplaylist
And how many jobs were lost in the end result? None, thanks to the bailouts. Bankruptcy alone would have not only ended with millions of stockholders getting completely fucked (which they still did), but it would have resulted in the loss of most dealerships, the dying of even more car brands, the shutting down of plants, no money for R&D, and no one there to pick up whatever pieces were available, due to not only the piss poor US economy, but the world economy at that.
Tboninator 1 year ago
@Tboninator "None, thanks to the bailouts." Except all the other millions thanks to taxation, and the safety of those who failed instead of being replaced with better ones. It's a subsidy to failure.
darkr0astedblend 1 year ago
@savemyplaylist
Go learn what the fuck you're talking about, before you start spamming up the comments section with anti-GM BS.
Tboninator 1 year ago
@savemyplaylist
Bottom line: You're the dumb ass little piece of shit here, along with all the other GM hating fools that can't think past their baseless hatred for a company and realize how important it is to our economy, and wishing bad on it's employees, because they wouldn't be able to support themselves or their families.
I'm sure you're so missing your 160 dollars from bailing out GM and Chrysler, aren't you... You'll just never recover, will you? Get your head out of your ass.
Tboninator 1 year ago
GM will say anything to boost their auto sales. Of course, this is much how it works on car sales lots and auto repair shops, anyways. The whole industry is built on a solid foundation of liars.
DrCaustic 1 year ago
i agree..even AIg..how in the hell did they pay these back with our ecomy going down more and more every month..no way have they been able to build that much money plus pay their investors etc...we are being scammed up the yang yang lol
AzoutLawz2010 1 year ago
go rick!
purpleloco1 1 year ago
I don't trust this guy's hair AT ALL!!!!
jaxuber 1 year ago
this guy is an idiot
hbk123 1 year ago
And he didn't even mention how the GM Bond holders had their money stolen by Obama too.
GM should go Bankrupt.
FreeAgain2 1 year ago
Love it when Reason bashes a corp.
Decentralism 1 year ago
"...And hope that their safety engineers are better at math than their CEO."
LOL!
Panpiper 1 year ago
I knew it. I knew it was a bunch of BS and crap
Thanks GM but ill drive Toyota instead.
ToyotaforCorolla 1 year ago
Comment removed
bperks02 1 year ago
LOL!
Zinizzle 1 year ago
This has been flagged as spam show
Google - The Obama Deception
Zwikster 1 year ago
Government Motors - they make shitty cars - let them FAIL!
IPOMonster 1 year ago 45
This has been flagged as spam show
@IPOMonster so you want Americans to lose their jobs. Great job Comrade.
massdrewski 1 year ago
@IPOMonster don't know I had only 2 good cars! the rest were shit
TheAngryAmericanwon 10 months ago
What do you want them to do then?! Speaking in literal terms they had no choice and now wallow in their filth, true, however, it's the government regulated policies that are in fact the root of it all.
freezzertime 1 year ago
GOVERNMENT MOTORS, formally known as GENERAL MOTORS, is now owned by the government with it's head CEO Obama. They are now as sneaky & corrupt as the FEDERAL GOVERNMENT. How does everyone feel about the new announcement that GOVERNMENT MOTORS is building a new plant to employ around 900 people? It is to be built in MEXICO! Did the bailout money come from Mexico's tax dollars? NO, THE BAILOUT MONEY CAME FROM UNITED STATES TAX DOLLARS! THEY TAKE OUR MONEY BUT SEND THEIR JOBS ELSEWHERE! FUCKERS!!!
Obamabeenlyinagain 1 year ago
Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Car loans were specifically written out of the new legislation. Spitting in our faces, GM announced plans to buy Americredit Corp (ACF) immediately after Obama signed the bill. ACF has steadily declining sales revenues and is losing money, so why should the highest and only bidder be GM with taxpayer money? Reforming what industry and protecting who?
bassthunder 1 year ago
HE IS EXACTLY RIGHT and GM or the Federal Government didn't publicize this, THEY BORROWED FROM PETER AND PAID PAUL. if you can't run a company let them FAIL, that's capitalism not leave the American tax payers responsible for there mistakes, My Business is turned to ''FORD'' because unlike GM they can run a successful company in the US. showing a profit.
Zinizzle 1 year ago
I think I'll stick with modified Hondas for the rest of my life.
Alternate2GOP 1 year ago
This guy is full of crap just like toyota...go and drive your
prius faggot.....
gmo8492 1 year ago
I can appreciate some frustration over this, but I'd like to make a few things clear. GM is selling cars. They're not funding criminal activity. Playing the shell game to pay off a loan is not a crime (at least not in 2010). If GM owners are happy with their purchase(s), does it honestly matter what funds they used to pay back one of their loans? Nobody's taxes went up. Nobody personally lost money. Nobody's puppy dog was killed. GM hasn't personally wronged anyone. Therefore, does this matter?
socalguy97 1 year ago
They took out a loan to pay back the loan.
JawsJaws 1 year ago
@JawsJaws They took out a loan to pay back a loan, which is odd, but what's illegal about it? If they pay back their debt (however long that takes), and they continue to make products that people like (and some people do, I'm one of them), their method of repayment really isn't relevant. As long as they're not funding drug traffic, poor labor practices, or the general public isn't taxed for their business practices e.g." as long as it doesn't come out of my pocket" I don't care what they do.
socalguy97 1 year ago
@socalguy97 - Then what was the whole point? How is what GM did any different from paying back a bank loan by taking out another one?
Alternate2GOP 1 year ago
@Alternate2GOP Propaganda I'm sure. Nothing was different about it. At the same time, I don't see any harm done to the human population by putting out a bullshit ad. My only point was that so long as their business practices don't destroy the product, or pose ill-intent on the every day private citizen, I'm not going to boycott their products.
socalguy97 1 year ago
@Alternate2GOP- The money GOVERNMENT MOTORS used to pay back the US tax dollar funded bailout loan was another loan from the Federal Government which was also funded by our tax dollars!!! DO YOU GET THE POINT NOW? I seriously doubt that they will pay that loan back since they are owned by the Federal Government now. If that is paid back in full, then they may be a reputable company. But for now, they are as corrupt as the Fed. Gov. They STINK!
Obamabeenlyinagain 1 year ago
@Obamabeenlyinagain - I get the point - but sadly those Obama dickriders at the Huffington Post sure don't.
Alternate2GOP 1 year ago
@socalguy97- GOVERNMENT MOTORS was given a loan from my and YOUR TAX DOLLARS! It most definitely came out of your pocket!!!! Wise up!!!
Obamabeenlyinagain 1 year ago 28
@Obamabeenlyinagain really? Exactly how much am I missing? Im not short any funds. Are you? I would like to know exactly how much down to the penny you or I spent to bail out GM.
socalguy97 1 year ago
after the used up the tarp fund, the going to ask for more bail out money. GM is done for!
Quy4life 1 year ago 2
Damn
TheMEK3 1 year ago
This comment has received too many negative votes show
Absolute waste of time on this video, you need to get a life. This fool probably thinks GM should have not given any money, typical uneducated republican tv.
maytag40 1 year ago
@maytag40 They shouldn't have.
And this is not republican, it is libertarian. There are more than two view points so kindly stop having your opinions spoon fed to you.
lordthawkeye 1 year ago
@maytag40 You are stupid...not the video.
JawsJaws 1 year ago 2
Short - sweet- informative. Thanks.
7jerryv7 1 year ago
I agree, I was just trying to clarify that the problem is bigger than Onstar. When I worked at GM there were many complaints about Onstar because it does actively track your car while your driving and if big brother comes with a warrant Onstar can not only give your location it can shut off your vehicle.Do you also know they can track your cell phone even when it's not on?Only by removing the battery can you disable that feature.
huntwds 1 year ago
why was he holding the marker all the time... its bad body language...
xJaysrox 1 year ago
i dont recall posting any 'numbers' but sure.. Ford borrowed $26 billion from 'traditional sources' in 2006, they (FoMoCo) is set to pay back $3 billion this year (it was back in April i believe), which wasnt actaully due until 2013.. they are still left with another $3.7 billion owed to creditors, and are still $32 billion in debt.
it is what it is, im not hating on Ford, just stating the facts (facts that 98% of the general public have 0 knowledge of)
andrewschenk 1 year ago
@andrewschenk - I believe what u say is true but there is a difference between Fords situation & gm-chrystler's situation. Gm - Chrystler went for the government bait with the strings attached (Gm & Chrystler have been known in the past for screwing over their customers) while Ford took the strait forward approach with no government take over. The money that Gm - Chrysler is “paying” back is being paid to the government . basic words, the government stole from the people & that is nothing new.
NinjaForeChrist 1 year ago
@NinjaForeChrist i also wouldnt say it was a government 'takeover'. although the US+Canadian governments technically have a controlling share (roughly 60% off the top of my head) they have no real control over operations and product lineup within the company.. although the Obama admin. and 'car czar' did give Rick Wagoner the boot from GM, and they do somewhat over see the executive lineup. they have no real control on cars produced and operations.
andrewschenk 1 year ago
@andrewschenk - The gov’t has played to much of a role for me not to believe that the government & the people behind closed doors arnt running the show. u most likly know that & the fact that obamas "sugestion" had enough power to replace gms ceo from a person who knew something about cars to a politician (Whitacre I think is his name) who I quote says "I vow to learn about cars." also I know On Star is supposedly good but dont u think its a little to convenient for the government to track u?
NinjaForeChrist 1 year ago