What is the point of using the above headline? To demonstrate that GM was, first, in financial trouble and, secondly, trying to do something about it. But Obama entered the room a few months later, and suddenly, GM's problems were over.
Bankruptcy is not the end of the world.
I am telling you that GM would have survived a first bankruptcy and how do I know this? Because, under Obama, that is exactly what it did. It was a structured bankruptcy and GM did not need Obama to pull that off. Rather, it was the over-extended unions who needed help. Understand that GM has paid back 11 billion of the 56 billion it received from the Obama Administration. What happened to the rest of the money? It went into union coffers, to shore up its grossly over-extended legacy retirement program. And what happens to that union and GM, if Obama does not survive the next election? We all know that Obama has applied a 56 billion band aid to GM. The injury remains and time is closing in on this scam.
Understand that folks claim bankruptcy every day. Donald Trump has claimed that solution three separate times . . . . . . . and he is still around doing business as usual.
Too big to fail? Of course not.
The myth in all this "Obama saved the nation" crap, is that it is simply a lie. Understand that if GM cannot figure out how to turn things around - and, contrary to popular belief, that has not happened yet, it will go under.
Too big to fail? What would happen if GM does fail? Well, Ford and Toyota and Honda would build new plants and expand their operations to capture those who once were GM customers. Most of the GM auto workers would have a job, but not the kind of union paying job they once had . . . . . . you know, the kind that destroys states and sinks businesses when it demands more than what can be sustained.
What happened to Chrysler?
You should know that Obama has not saved the "auto industry." Take Chrysler . . . why have we not heard that much about Chrysler? Because it lost the taxpayer 1.5 billion dollars and was bought out by Fiat, about three months ago. Bet you did not know that until now!!
And GM's success is a scam.
And GM - its stock is currently selling for around 20 dollars a share. Those who invested in the initial public offering ( the IPO) for the New GM company, bought in at 33 dollars a share. Understand that the original GM is out of business. Its debt is being handled under the name "Liquidation Motor Company." Because of this sort of financial maneuvering, the new GM has a new lease on life. When it went public, again, at 33 dollars a share, there was much "to do" about it. "GM is back." "Obama's plan worked in a most brilliant of ways." And where are we today? Those who did not get out when the "gettin' was good," have lost more than a third of their original investment.
The Chevy Volt . . . . the green car Obama touts as a huge success? Well, in August, the company sold a total of 40 units to the public. Understand that the Federal government is buying up a train load of this things, as is China, but the American people are going a different route.
I believe the much proclaimed "health at GM" is nothing but a carefully crafted lie. Will this all blow up in Obama's face, as has the solar scam he is involved in, or the gun running idiocy he and his DOJ are desperately trying to cover up, or the "shovel ready nonsense" he is attempting to revive with this latest America's Jobs Act? Time will tell and I believe the story will be told before election day, 2012.
No comments:
Post a Comment