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"Government Motors" returns to top of world's auto sales

Discussion in 'Sports and News' started by TigerVols, Jan 20, 2012.

  1. dixiehack

    dixiehack Well-Known Member

    If my 04 Escape with over 200k miles goes blooey because of this thread I will (have to take Greyhound to) hunt down all of you.
  2. heyabbott

    heyabbott Well-Known Member

    They need to be careful about tat warranty.
    I had a '99 Isuzu Trooper. Isuzu had a 10 year 100K warranty. It took me 4 years to get to 100K. Isuzu went away, partly because GM bought them and stopped selling their cars then SUVs. The serivce manager at the GM dealership where I took my Trooper said that the 10y/100K warranty killed Isuzu. By years 8,9 & 10 Isuzu was paying dealerships more for warranty repairs then the dealerships were grossing in Isuzu sales.
  3. Boom_70

    Boom_70 Well-Known Member

    I did not realize that. I thought Obama created the bill that bailed out General Motors.
  4. Michael_ Gee

    Michael_ Gee Well-Known Member

    Obama did create the auto bailout. But TARP was enacted under Bush. It just fell to Obama to administer it. It became law less than a month before he was elected. It's kind of a hair-splitting deal.
  5. Starman

    Starman Well-Known Member


  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    The GM bailout will cost American taxpayers $23.6 billion, according to the Treasury department (their original estimate was $14.33 billion, but it was based on an unrealistic stock price estimate, and they finally revised it in November). It will actually cost taxpayers more than $23.6 billion, because our government runs at a deficit, so that figure is monetized debt that we are going to be paying interest on for years to come.

    How wonderful that GM is selling cars that are being forceably subsidized by all of us.
  7. Starman

    Starman Well-Known Member

    Yah yah it would have been better if the whole industry had gone down in flames and taken 20% of the economy with it. Tell us all about it, professor.
  8. LongTimeListener

    LongTimeListener Well-Known Member

    Package deal. We subsidize the gas Exxon sells too.
  9. Boom_70

    Boom_70 Well-Known Member

    If deal was put to vote I bet 80% of Americans would have voted yes. At that time it was best to kick the can down the road. We could not have dealt with the fall out of General Motors going out.
  10. Azrael

    Azrael Well-Known Member

    Wall Street just needs to bid the stock price back up.
  11. TigerVols

    TigerVols Well-Known Member

    Hair splitting? Maybe...but TARP provided no-strings-attached money to the banks, and as a result we are seeing the results in the form of unprecedented salaries to management and dried up loans to small businesses and homeowners.

    Meanwhile, the auto bailout came with lots of strings (remember when Obama fired the GM CEO? Mitt talks about it all the time), factories were closed, CAFE standards raised, etc.

    Which plan was more successful?
  12. Boom_70

    Boom_70 Well-Known Member

    Both in different ways. Country realized 20 billion in profit from banks. 99 % has been paid back.
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