Quote Of The Day: Mission Accomplished Edition

Edward Niedermeyer
by Edward Niedermeyer

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?


Edward Niedermeyer
Edward Niedermeyer

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  • Odomeater Odomeater on Apr 22, 2010

    TTAC living up to it's rep! GM bashing nonstop 24/7. LOL!

    • See 1 previous
    • Nonce Nonce on Apr 23, 2010
      This went into the details of how TARP money was used to Except it didn't. It was very very vague. I would love to hear that GM is just playing a shell game, but even better would be to hear it from a credible source.
  • Jmatt Jmatt on Apr 23, 2010

    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?

  • DetroitsaRiot DetroitsaRiot on Apr 24, 2010

    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.

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