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04:33 PM
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GM makes record profits in 2011. Are you serious? 7.6 billion
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 9720175:MV8xNzkwNDQyXzI5NzYxMjMzX0RBQTlGMzUz] [quote:SHININGLIGHT:MV8xNzkwNDQyXzI5NzYxMTQyX0UwQTlFQjVC] [quote:Anonymous Coward 9720175:MV8xNzkwNDQyXzI5NzYxMDkzXzIzQzJDRkI3] Has GM paid back the taxpayer bailout money from 2008? [/quote] Here is what it says in the link...but I don't really understand....you? "GM has repaid loans it received, and the Treasury got most of the proceeds of its record initial public offering in November 2010. But Treasury still holds about a third of the company's shares, which are trading below its IPO price, [b]and GM has yet to return $25.5 billion of the money it received[/b]." [/quote] That sounds about right. So, shouldn't GM return their 2011 profit back to the taxpayer? That would be akin to common folks who have their tax returns taken for various unpaid bills. [/quote]
Original Message
[
link to money.cnn.com
]
This is probably old news to some of you but anyway, I was like, are you serious?
Ok, I don't have a problem with a corporation making money. That's not the issue. The issue is that something doesn't add up. Two years after a bailout and they report a record profit.
I mean I thought the economy is bad. Are we really buying that many new cars?
The link says that they made some changes back in 2009 and that helped them be more profitable. Really? I don't understand all the numbers on the link but it says GM has to return 25.5 billion of the money they received.
Here is what my thought is. The richer just got richer and poor just got poorer. Guess we all just need to suck it up.
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