Comments on: Unfair Advantage – Treasury Department Still Owns GM

By: Michael Rocker

Michael Rocker — Thu, 22 Nov 2012 21:22:29 +0000

I agree with many of you about not buying a GM made product.
That also goes for Chrysler

While these two companies cried and got a bailout from Uncle Sam they closed plants here in the US. Laid off workers her in the US. All the while they ramped up production in Canada and in Mexico. When GM and Chrysler announced they were hiring or rehiring workers they have not slowed down production in Canada or Mexico.

By: Tim Esterdahl

Tim Esterdahl — Mon, 06 Aug 2012 00:45:37 +0000

Jeremy,

You’re comment reinforces the point I was trying to make in the article. The ultimate question is when does the Government sell its shares.

-Tim

By: Jeremy

Jeremy — Sun, 05 Aug 2012 18:45:45 +0000

GM has paid back their bailout LOANS. But not all of the bailout money was in loans. A good portion of it went to purchase 60% of GM as part of the restructuring. Now, half of that was liquidated as part of the IPO, I believe. But the US government still owns 30% of GM. This isn’t a matter of GM “repaying” the loan; this is a matter of the US government selling their SHARES of GM at a profit. Regardless of how profitable GM might be right now, their share prices are still down, so if the US sells their shares they will lose money on the bailout.

By: Jason (Admin)

Jason (Admin) — Sat, 04 Aug 2012 02:27:07 +0000

LOL – I like that line “I guess his wallet wasn’t as big as he thought.” I’m gonna use that.

By: Mickey

Mickey — Thu, 26 Jul 2012 19:26:21 +0000

Not to mention the brake line issues on there new Silverado. Tried to tell son-in-law to get a Tundra but he insisted on a Silverado. Well $2,100 later and two failures that left him on the side of the interstate made him finally see the light. Especially since both just happen when he reached over his standard mileage warranty. Now he’s getting a Tacoma. Some people take a little more to learn. I guess his wallet wasn’t as big as he thought.

By: Mickey

Mickey — Thu, 26 Jul 2012 19:22:28 +0000

If you watch GM commercials now they are boasting the best sales ever in the company. Now since you are selling the most vehicles where is the govt. payday GM?

By: Citizen Seven

Citizen Seven — Tue, 24 Jul 2012 11:22:59 +0000

I will not under any circumstances buy another Government Motors product in my lifetime. An operational definition of corruption is when the regulating authority has a vested interest in one of the market players. Consequently, the USFG owning a large percentage of one of the automakers AND regulating them all is corrupt at its core. It is the very definition of an unlevel playing field. One has to wonder about how much the (eventually found untrue) problems Toyota had with random acceleration would have been played up had the USFG not had an incentive for competition to fail. That’s even ignoring the underhanded way the original bond holders were screwed over by the USFG in their takeover of GM.

By: mk

mk — Sun, 22 Jul 2012 18:40:41 +0000

What, hasn’t GM paid back 100% of their bailout money yet?

If not, which I am pretty sure is the case, how can GM record profits the past few years? Shouldn’t the government step in and demand the profits go towards the bailout money?

Haven’t bought a GM since 2007 and not planning on it until they come out with a better product and preferably until all 100% of the money they borrowed is returned to us.

Only problem with this thinking like so many have still is if GM fails and no one buys their vehicles, we are in the same boat all over again and I am sure a govt. bailout will NOT be happening a 2nd time around.

By: LJC

LJC — Wed, 18 Jul 2012 21:57:18 +0000

I had a chance to buy another GM product and chose not to for couple of reasons.
First, well, their 1/2 ton trucks are way inferior to Toyota.
Second, who knows what will come of the investigation into the rusting brake lines. I suspect that “outcome” will be deferred until the government’s bailout money is paid in full. Here’s a reminder of the problem: http://wheels.blogs.nytimes.co.....ake-lines/
Third, GM should be forced to sell foreign interests and pay back our government. The sooner the better.

Oh, one more thing: it would be really interesting to know if GM used the same supplier as Ford did that lead to the recall of Ford’s rusting gas tank straps. I ask because my former GMC Sierra had the same problem.

By: Josh

Josh — Wed, 18 Jul 2012 19:28:04 +0000

I am staying far away from GM products as possible! As long as the government has a share in them I want nothing to do with GM. I have too hard of a time trying to figure out things the government runs RIGHT to have any faith in them running a business. Staying with Toyota.