indyflick
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Save General Motors ?

Tue Sep 14, 2010 8:27 pm

Maybe Nissan should give us the option, after we take delivery of the LEAF, if we want the $99 credited back to our cards or if instead would we like to donate the $99 to one of the following government supported charities:
[] Save the whales
[] Save the polar bears
[] Save General Motors

I actually believe saving GM was absolutely the right thing for the U.S. government to do. You can't throw the baby out with the bath water in a time of crises. While I never forgave GM for killing the EV1 and I never will. They were simply too important to the economy and defense of the U.S. to let fail. GM will likely survive another decade or so before they finally fail for good. By then the entire automobile industry will have changed to the point you won't recognize it.
Last edited by indyflick on Wed Sep 15, 2010 8:45 pm, edited 1 time in total.

mossyleaf
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Re: Quote questions

Tue Sep 14, 2010 8:31 pm

LOL! :lol:
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planet4ever
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Re: Quote questions

Wed Sep 15, 2010 12:21 am

From a purely economic viewpoint, "Save GM" is clearly the most important. Remember, we (i.e. US) have invested $50B in that company. If it goes under, our taxes will have to go up enough to make up the difference. ($50B is about $435 per household.)

It doesn't matter whether you think the investment was brilliant, stupid, necessary, or a total waste. That's water under the bridge. All that matters now is what the government can sell its shares for, and when.
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evnow
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Re: Quote questions

Wed Sep 15, 2010 8:06 am

It was unfortunate that save GM wasn't properly explained (by mass media, I guess).

GM & Chrysler going down would have taken with them so many ancilliary units, the government had no choice but to sav ethem. We (the fed govt) would have lost lot of more money in terms of health insurance for employees, unemployment benefit to all related employees and everyone else connected. Consider 50B cheap.
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DaveinOlyWA
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Re: Quote questions

Wed Sep 15, 2010 11:34 am

LpOther than the home mortgage industry, Uncle sam made money on every one they bailed out
Now we still have a few unresolved ones like gm AIG and a few banks. I guess we need to see how the IPO goes
Last edited by DaveinOlyWA on Wed Sep 15, 2010 8:04 pm, edited 1 time in total.
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indyflick
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Re: Quote questions

Wed Sep 15, 2010 7:02 pm

DaveinOlyWA wrote:Other than the home mortgage industry, Uncle sam made money onevery one theybailed out.

Now we still have a few unresolved ones like gm wig and a few banks. I guess we need to see how the IPO goes
I always wondered if that was the fear from the right, the fact that socialism could actually prove to be profitable. Hey, that worked we should do more of that! All the sudden the US Treasury establishes a black pool VC fund!

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evnow
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Re: Quote questions

Wed Sep 15, 2010 7:43 pm

indyflick wrote:I always wondered if that was the fear from the right, the fact that socialism could actually prove to be profitable. Hey, that worked we should do more of that! All the sudden the US Treasury establishes a black pool VC fund!
No. Ideology - after a while - has no reason. It is just a self-perpetuating meme - like religion.

Well, since this thread has gone completely off - I'll fork the thread.
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indyflick
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Re: Save General Motors ?

Mon Sep 20, 2010 7:37 am

Appears GM have discovered that South Korean's lack the allusive "range anxiety" gene. GM to test Chevrolet Cruze electric cars in S.Korea

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walterbays
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Re: Save General Motors ?

Tue Sep 21, 2010 8:12 am

I have range anxiety*. Last night my car's gauge went down to one bar and it notified me to "add fuel." But since it lacks a plug I couldn't recharge it overnight in my garage. The car's display doesn't tell me my remaining range, adding to my anxiety. I think one bar means I have one gallon of gasoline left, or it might be two. But I drove home on one bar, so what if I have only half a gallon left? A gallon might take me 40 or 45 miles, which is plenty of range to reach a hydrocarbon recharging station, especially if I drive in the opposite direction from my desired destination. But when the ICE is cold it only delivers 25 miles per gallon until it warms up. I might have as little as 12.5 miles of range remaining. I wonder if I can make it to a more convenient recharging station...

(*[tm] General Motors)
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AndyH
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Re: Quote questions

Tue Sep 21, 2010 8:50 am

evnow wrote:It was unfortunate that save GM wasn't properly explained (by mass media, I guess).

GM & Chrysler going down would have taken with them so many ancilliary units, the government had no choice but to sav ethem. We (the fed govt) would have lost lot of more money in terms of health insurance for employees, unemployment benefit to all related employees and everyone else connected. Consider 50B cheap.
I agree with you here, evnow. The other side of the coin, though, and just as valid, is the unfortunate truth that GM has been legally 'fratriciding' those ancillary units since at lest the 1970s. The Flint that I grew up in in the 1960s and '70s no longer exists.

It's going to take some time to know for sure whether bankruptcy or bailout was the lesser evil.

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