GM pays back debt to US/Canadian governments - Page 3 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

valo403 · 04-23-2010, 08:13 PM

Quote:

Originally Posted by Locke

I just find that advertising such an obvious load of BS proves that GM didnt learn a damned thing about how to improve the basic operations of their business.

They're still lying right to people's faces and expecting them to buy their crap product purely based on the fact that they're GM and they deserve it.

At what point do these major American institutions come to the realization that their Goodwill is totally spent and that they have to start putting some effort into regaining it. Very few people will be buying GM simply based on the fact that its GM anymore, that type of brand loyalty for that particular manufacturer is totally shot. The sad part is, they're the ones that pulled the trigger.

Where's the advertising? Maybe I've missed something, but I see a news article about a press statement, not an ad campaign. It's information that must be disclosed by law anyways, and not disclosing it to the public would be doing a massive disservice to the shareholders of GM.

3 Justin 3 · 04-23-2010, 08:15 PM

Quote:

Originally Posted by valo403

Where's the advertising? Maybe I've missed something, but I see a news article about a press statement, not an ad campaign. It's information that must be disclosed by law anyways, and not disclosing it to the public would be doing a massive disservice to the shareholders of GM.

You haven't seen the commercials where the old man from GM (their dumbass president) comes out they've paid their loans, etc.?

It's all BS.

Jetsfan · 04-23-2010, 08:22 PM

General Motors repaid TARP loans with other bailout funds instead of company earnings

Treasury has merely exchanged a legal right to repayment for an uncertain hope of sharing in the future growth of GM," Grassley wrote. "A debt-for-equity swap is not a repayment."

"The taxpayers are still on the hook, and whether TARP funds are ultimately recovered depends entirely on the government's ability to sell GM stock in the future," Grassley wrote.

http://www.courthousenews.com/2010/04/23/26689.htm

valo403 · 04-23-2010, 08:22 PM

Quote:

Originally Posted by 3 Justin 3

You haven't seen the commercials where the old man from GM (their dumbass president) comes out they've paid their loans, etc.?

It's all BS.

Are there actually commercials?

I don't get to leave my office much

They have paid their loans though, the rest of the deal was made up of stock, you can't 'pay' that off. By it's very nature it's paid at transfer.

Just read Jetsfan's link. I take it back, that's nothing more than a ball and cup style swindle.

Locke · 04-23-2010, 11:32 PM

Quote:

Originally Posted by valo403

Are there actually commercials?

I don't get to leave my office much

They have paid their loans though, the rest of the deal was made up of stock, you can't 'pay' that off. By it's very nature it's paid at transfer.

Just read Jetsfan's link. I take it back, that's nothing more than a ball and cup style swindle.

Now you're starting to see things my way. Its GM back up to their old tricks that made them outrageously successful the first time....

Azure · 04-24-2010, 10:58 AM

Quote:

Originally Posted by valo403

Where's the advertising? Maybe I've missed something, but I see a news article about a press statement, not an ad campaign. It's information that must be disclosed by law anyways, and not disclosing it to the public would be doing a massive disservice to the shareholders of GM.

GM was running commercials on CBC the other night saying they had re-payed the loans.

chemgear · 05-05-2010, 10:00 AM

http://www.youtube.com/watch?v=SOaS2SymjQ4

EDIT: having issues embedding for some reason . . .

Cowperson · 05-05-2010, 10:11 AM

Now that the darker days are moving into the rear-view mirror, the USA government contemplates how to liquidate the $2.3 TRILLION dollars in assets it accumulated during the crisis.

http://www.newsweek.com/id/237389

Cowperson

IliketoPuck · 05-05-2010, 10:14 AM

I think they should create a new entity called Fannie Mac to make new mortgages for people who can afford them.

Kool Keef · 05-05-2010, 10:24 AM

Sincerest apologies if this is a Fata.

Quote:

The Competitive Enterprise Institute today filed a formal complaint with the Federal Trade Commission, arguing that General Motors misleadingly claimed in a national TV ad that the company has paid back taxpayer bailout loans.

In the complaint, CEI urges the FTC to investigate the GM ad campaign entitled "GM Repaid Government Loan Ahead of Schedule.” The ad features GM’s Chairman and CEO, Ed Whitacre, who declares that “we have repaid our government loan in full, with interest, five years ahead of the original schedule."

http://cei.org/news-release/2010/05/...oup-ftc-filing

The ad in question:

http://www.youtube.com/watch?v=SSNPFVLIWjI

Locke · 05-05-2010, 11:01 AM

Quote:

Originally Posted by chemgear

http://www.youtube.com/watch?v=SOaS2SymjQ4

EDIT: having issues embedding for some reason . . .

Good vid.

Just more proof that these people learned nothing and should have been allowed to fail.

At what point did they not realize that, 'hey yeah, that would be great marketing!!! WOOT!!' Oh yeah, and it'll only fool the average 3rd grader, everyone else will realize that you're lying to them and hate you even more.

3 Justin 3 · 05-05-2010, 01:08 PM

Woohoo! I really hope a lawsuit comes out of the investigation, and GM is sued $100 Trillion. Then they might finally die.

Azure · 05-05-2010, 01:10 PM

Quote:

Originally Posted by 3 Justin 3

Woohoo! I really hope a lawsuit comes out of the investigation, and GM is sued $100 Trillion. Then they might finally die.

Yeah, nothing like suing the taxpayers in the US and Canada....

Locke · 05-05-2010, 01:42 PM

Quote:

Originally Posted by 3 Justin 3

Woohoo! I really hope a lawsuit comes out of the investigation, and GM is sued $100 Trillion. Then they might finally die.

Hah! You're sueing the Federal Government who'd just throw more taxpayer money at it.

burn_this_city · 05-05-2010, 01:45 PM

Quote:

Originally Posted by 3 Justin 3

Woohoo! I really hope a lawsuit comes out of the investigation, and GM is sued $100 Trillion. Then they might finally die.

Yay people losing their jobs. Who wouldnt want that?

Locke's a ford guy so I can see why he's railing against GM. Honestly though, nothing will come of this "investigation" since the majority of the money loaned was converted into company stock.

chemgear · 05-05-2010, 01:53 PM

Quote:

Originally Posted by burn_this_city

Yay people losing their jobs. Who wouldnt want that?

Locke's a ford guy so I can see why he's railing against GM. Honestly though, nothing will come of this "investigation" since the majority of the money loaned was converted into worthless company stock.

Fixed.

burn_this_city · 05-05-2010, 01:54 PM

Quote:

Originally Posted by chemgear

Fixed.

Hardly, the government of both countries will turn a profit off the money they loaned.

Locke · 05-05-2010, 01:54 PM

Quote:

Originally Posted by burn_this_city

Yay people losing their jobs. Who wouldnt want that?

Locke's a ford guy so I can see why he's railing against GM. Honestly though, nothing will come of this "investigation" since the majority of the money loaned was converted into company stock.

Aside from being a Ford guy, I've also had enough of GM's BS.

Yeah, people losing their jobs? So what? There will be a vacuum in the automotive market, someone will fill it, those jobs will be replaced by a company that can run efficiently.

Yes, those people will probably have to take a pay cut, but such is life. When the price of oil tanks people who work for oil companies have to take pay cuts in order to keep their jobs, thats the way the world works.

General Motors is a Dinosaur and its about time for them to die.

burn_this_city · 05-05-2010, 01:59 PM

Quote:

Originally Posted by Locke

Aside from being a Ford guy, I've also had enough of GM's BS.

Yeah, people losing their jobs? So what? There will be a vacuum in the automotive market, someone will fill it, those jobs will be replaced by a company that can run efficiently.

Yes, those people will probably have to take a pay cut, but such is life. When the price of oil tanks people who work for oil companies have to take pay cuts in order to keep their jobs, thats the way the world works.

General Motors is a Dinosaur and its about time for them to die.

Those jobs would likely be filled overseas or in south america.. I realize GM management made some bunk decisions but I also blame the unions. Besides whos going to warranty my new Camaro if they disappear?

Locke · 05-05-2010, 02:03 PM

Quote:

Originally Posted by burn_this_city

Those jobs would likely be filled overseas or in south america.. I realize GM management made some bunk decisions but I also blame the unions. Besides whos going to warranty my new Camaro if they disappear?

The Unions definitely share blame, but right now, this is a boneheaded move. Bragging about paying off loans?

It is completely unbelievable that they thought no one would figure out that they were misleading people.