Fools at GM dig one hole to fill another

[King 5.45]

http://online.wsj.com/article/SB1000...hatsNewsSecond

But in a move that could be controversial and risky, the car maker plans to use other money it received from the government to pay back the borrowing.

Well, no shit!

[buster2209]

http://online.wsj.com/article/SB1000...hatsNewsSecond

Well, no shit!

HAHA, isn't that just the same as using a credit card to pay off ANOTHER credit card?

GM wont be around in the future.....

[MTechnik]

At least they're going to start paying back sooner than expected. Better than AIG.....

and I think paying the bailout loan back with bailout money is just called "I didn't need as much as I asked for" - I'd rather they do that then feel an obligation to spend it.

[CG1492]

Might as well issue these with all gm's sold.

[King 5.45]

Minus well issue these with all gm's sold.

http://upload.wikimedia.org/wikipedi...sic_Sample.jpg

Yeah, you're in the "minus well," for sure.



It's might as well.

[MTechnik]

Yeah, you're in the "minus well," for sure.



It's might as well.

Hahahaha! (haha)

[buster2209]

Also found this story;

http://www.chicagotribune.com/busine...,6999770.story

GM loses $1.2 billion in 3Q

By TOM KRISHER and DEE-ANN DURBIN Associated Press, 11:06 a.m. CST, November 16, 2009

General Motors Co. said Monday it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.

.........

So, they are still losing money, but not as much as they thought, so that's good.......?

[ChamberedRound]

Yup, they won't get another bailout anytime soon. GM is circling the bowl.

Meanwhile, it makes me very happy to see that Ford, the one company that DIDN'T take the bailout money, posted a profit. See folks? Capitalism does work...

Ford posts surprise profit

[ByAnyMeans]

Also found this story;

http://www.chicagotribune.com/busine...,6999770.story



So, they are still losing money, but not as much as they thought, so that's good.......?

You have to spin a story anyway you can. It's similar to people who think it's good news that we "only" lost a half million jobs last time a jobs report came out.

[buster2209]

Yup, they won't get another bailout anytime soon. GM is circling the bowl.

Meanwhile, it makes me very happy to see that Ford, the one company that DIDN'T take the bailout money, posted a profit. See folks? Capitalism does work...

Ford posts surprise profit

Blasphemer, heretic!! Burn him at the stake!!!

On a serious note, I wont touch a NEW GM out of principle. No matter how good looking or what incentives they have for owning one.

I witnessed this game with Rover in the 90s in Britain. As I said, GM is dead, it'll just take your tax dollars with it!