Quote Of The Day: Mission Accomplished Edition
Taxpayers, your partial refund is in. Now quick, make with the pension bailout and EV subsidies. Oh, and be sure to pick up a new Chevy, Cadillac, Buick or GMC as a “thank you” present for this act of patriotic largess.
In a speech at GM’s Fairfax, KS plant [via Automotive News [sub]], Big Ed claimed that:
Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign that our plan for building a new GM is working
And yet The General didn’t wait until its Q1 financials were ready to make the announcement. Having already bragged that Q1 2010 results would represent a “milestone,” wouldn’t it have been better if he could have waved an operating profit or EBITDA concoction, anything other than losses around as proof of his claimed success?
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TTAC living up to it's rep! GM bashing nonstop 24/7. LOL!
There's this about the supposed pay back: http://corner.nationalreview.com/post/?q=YWM4MmQwMDQ2YTU2Y2RiYTQ5ZTFjNzVhMWU5YTI0MTc=
It doesn't matter. This shell game won't save them. People don't buy GM cars now for the same reasons they haven't bought them for decades: they suck and the competition is much, much better. This "IPO" oughtta be a hoot. Who in their right mind would fork over their cash to a company that screwed its bondholders and shareholders as hard as humanly possible the last time around? Who wants to own a company that is still staffed by the same union employees that destroyed it, the City of Detroit and most of the State of Michigan the first time around?
Whitacre is a flim-flam artist who honed his skills at AT&T. Now hes perpetrated the biggest con of all with the American taxpayers as his victims. A substandard thinker who has taken over a company that perpetuates its existence by selling substandard products to consumers then lieing to customers about problems until their purchase is out of Warranty.