'Old GM' buried with bad assets of '09 bankruptcy

[6 Shooter]

<a href="http://www.detnews.com/article/20111217/AUTO01/112170345/1148/auto01/-Old-GM-buried-bad-assets-09-bankruptcy" target="_blank">​

General Motors Corp., once America's largest corporation, died Thursday, Dec. 15, 2011. It was 103 years old.

DNAI

 

[theshadow41]

Old GM

I have a couple hundred shares of old GM stock.....anyone want to buy it....lol

 

[jrose7004]

I have a couple hundred shares of old GM stock.....anyone want to buy it....lol

Maybe you could mat them and frame them and sell them on e-Bay!

 

[theshadow41]

It cost my broker more in postage to send me a statement each quarter than what these shares are worth

 

[6 Shooter]

And most of the upper level management folk that ran the company into the ground have retired and live happily ever after...

 

[Mac]

And most of the upper level management folk that ran the company into the ground have retired and live happily ever after...

How many of the UAW/CAW leaders followed the same path?

-Mac

 

[catbert]

And most of the upper level management folk that ran the company into the ground have retired and live happily ever after...

...and retired very rich to boot.

 

[killain]

General Motors of long ago !

...and retired very rich to boot.

It's really sad commentary on corporations today. The very high ups, rich and virtually untouchable, suck the life out of the companies and they do it with the board of directors blessing or at the very least a blind eye. This pattern of parasites who robbed the company started a longtime ago, and they keep at it till there was nothing left. How does a 100 year old company wind up on December 31, 2008 with $0.00 dollars in their operating account ? Any of you who took the very basic accounting 101 in college car understand how impossible this happened, It happened because the money was 'Robbed'. John Wagoner was just the last of a long line of swindlers, liars and plain thieves who sucked the life out of this company, the UAW was just as complacent in this crime. You can thank President Obama for saving at least 175.000 jobs by propping them up till someone with the necessary skills to rehab the Chrysler and General motors till they could get up and going on their own.

I wonder what GMC stock sells for now? If it hadn't been for our current administration, a hell of a lot of union jobs would have disappeared. Our only automobile company left would have been Ford Motor Company. Everyone associated with General motors prior to 2008 should be ashamed of themselves, but I doubt any of Wagoners staff, all of whom got their golden parachutes and jumped out are sitting very comfortably now. :ugh

 

[Mac]

I was reading recently that Ford is the only major manufacturer who isn't building/importing cars into China, the largest growing market. It was only mentioned in passed because it was in an article about the Chinese slapping tariffs onto imported vehicles... as high as 22%...

BBC News - China to tax US-made car imports in trade dispute

I can't find the original article that mentioned Ford... Hmm....

-Mac

ps: Scratch that... I found the article...

China says will hit U.S. auto imports with duties

 

[Remo]

GM Directionally Correct

GM pays off its Treasury Department loans - Apr. 21, 2010

 

[Mac]

GM pays off its Treasury Department loans - Apr. 21, 2010

Did GM Pay Back Its Loan? Sort of. | The Everyday Economist

-Mac

 

[Remo]

MAC - Take Another Look

I believe my title line said "directionally" correct. Meaning GM was "headed" in the right direction. Unlike the large banks who have yet to pay anything back or even use the money they got to rewrite their toxic home loans. But I'm probably mistaken so I'll yield to your superior knowledge of the United States economic issues.

 

[catbert]

I believe my title line said "directionally" correct. Meaning GM was "headed" in the right direction. Unlike the large banks who have yet to pay anything back or even use the money they got to rewrite their toxic home loans. But I'm probably mistaken so I'll yield to your superior knowledge of the United States economic issues.

Are you trying to confuse me with facts?

 

[Mac]

I believe my title line said "directionally" correct. Meaning GM was "headed" in the right direction. Unlike the large banks who have yet to pay anything back or even use the money they got to rewrite their toxic home loans. But I'm probably mistaken so I'll yield to your superior knowledge of the United States economic issues.

I'm just a confused Canadian, Remo... and that's on a good day...

-Mac