Tuesday, October 16, 2012
How The GM Bailout Turned Into Foreign Aid.......
Mr.President....you pick Losers....period....dot.
As a Small Business owner...I know what it's like 24 hours a day to worry about staying afloat. Money is the number one concern...thought as you go to bed and the second you wake up....because....
It's up to US to keep it flowing....nobody else.
It must be nice to pick a Company you "like"...turn on the ATM machine ( Taxpayer funds ) and expect them to run efficiently when there is no market and no incentive.
Before the bailout of General Motors, it was well understood that the world’s largest automaker was losing huge amounts of money in the US and was staying afloat thanks to stronger performance in overseas markets. Since the bailout, however, that dynamic has been turned on its head. Thanks to a leaner manufacturing footprint, debt eliminations and steadily recovering sales, GM’s US operations have generated the lion’s share of the company’s profit since the bailout. And now, as the rest of the world economy slows, GM is spending more and more of its taxpayer-enhanced cash pile to shore up its faltering foreign divisions. In fact, according to an analysis of GM’s SEC filings, the company is likely to incur over $6.5 billion in losses and expenditures overseas in the 2011-2014 period, not counting over $1.6b in foreign potential legal liabilities or several other incalculable expenses that could add up to billions more.
As a Small Business owner...I know what it's like 24 hours a day to worry about staying afloat. Money is the number one concern...thought as you go to bed and the second you wake up....because....
It's up to US to keep it flowing....nobody else.
It must be nice to pick a Company you "like"...turn on the ATM machine ( Taxpayer funds ) and expect them to run efficiently when there is no market and no incentive.
Before the bailout of General Motors, it was well understood that the world’s largest automaker was losing huge amounts of money in the US and was staying afloat thanks to stronger performance in overseas markets. Since the bailout, however, that dynamic has been turned on its head. Thanks to a leaner manufacturing footprint, debt eliminations and steadily recovering sales, GM’s US operations have generated the lion’s share of the company’s profit since the bailout. And now, as the rest of the world economy slows, GM is spending more and more of its taxpayer-enhanced cash pile to shore up its faltering foreign divisions. In fact, according to an analysis of GM’s SEC filings, the company is likely to incur over $6.5 billion in losses and expenditures overseas in the 2011-2014 period, not counting over $1.6b in foreign potential legal liabilities or several other incalculable expenses that could add up to billions more.
Labels:
auto bailout,
debt,
economic meltdown,
economy,
Fairness,
foreign policy,
obama,
small business
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