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BAILOUT

GM Stocks Fall as Low as They've Ever Been

...and things are going to get worse for troubled company

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by PolitixMayday

Staff Writer t

Image: AP

General Motor's stock value dipped to $18.76 on Tuesday, its lowest since the company was bailed out by the government in 2010. So how much have American taxpayers lost on their 26.5% ownership? According to Investor's Business Daily, just shy of $35 billion.

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Is there any way for taxpayers to get a return on their investment GM?

47 Comments (view in Forum)

  • Comment removed for Engagement Etiquette violation. Replies may also be deleted.
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  • Bobolinsky
    !
    From the source article...

    "Every penny GM shares fall adds $5 million in paper losses to taxpayers. The U.S. Treasury still owns 26.5% of GM, some 500 million shares. Shares would have to hit about $53 for the government to break-even, and that's not including huge tax write-offs gifted by the Obama administration. On paper, taxpayers are sitting on about $35 billion in losses from the GM bailout."

    And the taxpayer is also the the biggest customer for the Chevy Volt. Both in direct sales to the Federal Government but also through GE which is the largest recipient of Green Energy money from the Federal Government.

    Barack Obama: Crony Capitalist in Chief? Part 2
    http://www.businessinsider.com/barack-obama-c...

    "That level of influence was kicked up a notch during the Obama administration as GE's CEO, Jeffrey Immelt, became a close adviser of President Obama, serving as the chairman of the President's Council on Jobs and Competitiveness."

    "Here, just months after the Volt had a major setback with a number of vehicle fires, General Electric announced in February 2012 that it would acquire nearly 12,000 Chevy Volts by 2015, and the sudden surge in sales for the Chevy Volt in March 2012 likely reflects a large number of GE managers and employees purchasing the car."

    Talk about the Chicago Way...
  • Quantummist
    !
    On a serious note... Electric cars are idiotic as they do not do what they are said to do... The do not reduce pollution or even a reduced carbon output... They actually Increase toxins in the environment but do so at the source rather than the exhaust pipe... Charging them requires electricity which is produced by Coal, Gas and Nuke plants for the most part... The have to be made from light weight plastics which require power and some really nasty chemicals along with Oil to produce and they need Lithium Ion batt plants that cannot be recycled because it costs more to recycle than to make new... Those Batt's and Chemical have to disposed of back into the environment.. Those that Now buy them will never buy another once they have them a while and will avoid any later electrics... The 100 mile electrics will have in their hopes dashed when they put a bit of time on them and find that as Lithium Batts have reduced longevity over time.. A 20 year batt plant that give 100 miles new will give you about 50 miles range in about 7 years.. After that you will have to replace dead cells every year at several hundred bucks a cell... And just wait until one catches fire and the Lithium catches fire... This is just the lithium from a AA ...http://youtu.be/MTFmPehXA30
  • ir0nw0lfe
    !
    Here's a few. List Of Failed Green Energy Jobs & Companies –By Obama

    Update: 7/19/12: The Amonix Solar: FAIL – manufacturing plant in North Las Vegas, subsidized by more than $20 million in federal tax credits and grants given by Obama Administration, has closed its 214,000 square foot facility a year after it opened.

    Solar Trust of America: FAIL - Filed Bankruptcy in Oakland, CA, April 3, 2012 – On April 2, 2012

    Bright Source: FAIL - Bright Source warned Obama’s Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close. Lost Billions of dollars but Getting More Money To Keep Trying. Can you say,“This isnt working?”

    Solyndra: FAIL - Obama gave Solyndra $500,000,000 in taxpayer money and Solyndra shut its doors and laid off 1100 workers in August 2011 After Billions in Losses due to failure to make a solar product that works!

    LSP Energy: FAIL - LSPEnergy LP filed bankruptcy protection and a sale of its assets in Feb 2012

    Energy Conversion Devices: FAIL – On February 14, 2012 Energy Conversion Devices, Inc. and its subsidiaries filed for bankruptcy

    Abound Solar: FAIL - Abound Solar received a $400 million loan guarantee from Barack Obama announced in June, 2012 that it would file for bankruptcy

    SunPower: FAIL – SunPower stopped producing solar cells last year at near bankruptcy restructured only with help of, get this, oil giant TOTAL who owns 60% stake. Irony! Still struggling…

    Beacon Power: FAIL – Beacon Power Corp filed for bankruptcy Oct 2011 just a year after Obama approved $43 million loan Government loan guarantee

    Ecotality: FAIL - ECOtality, a San Francisco green-tech company that never earned any money on the verge of bankruptcy after receiving roughly $115 million in two loan guarantees from Obama

    A123 Solar: FAIL-A123 received $279 million from taxpayers thanks to President Obama’s Department of Energy loan guarantees and after Solyndra bankruptcy is getting another $500M from Obama and it has lost $400M

    UniSolar: FAIL - Uni-Solar filed for Ch 11 bankruptcy in June 20 this year laid off hundreds got more Obama money still failing but still in business

    Azure Dynamics: FAIL - Azure Dynamics files for bankruptcy in June ter millions in Obama “Stimulus”

    Evergreen Solar: FAIL - Evergreen Solar received $527 Million in Taxpayer money from Obama filed bankruptcy

    Ener1: FAIL received more than $100 million in government funding from the Obama administration filed for bankruptcy January 2012. Oh, sorry. My bad. I thought you said Obama's EPIC FAIL.
  • Bobolinsky
    !
    I hope you don't mind if I use this list you've compiled for future posts Iron... Was that from a particular article or did you build that list yourself?

    Either way, It's useful :) Bookmark.

  • Load more replies >

  • srennelkztirF
    !
    "How long will it take to get from the Home Depot parking lot to the closest polling-location in this thing...with TWICE the max-passenger-capacity and six-or-seven in the trunk?"
  • mars2112
    !
    To big to fail? Or Cash cow for the democrat political machine. Either way, don't be surprised when the D.C. establishment propose to throw more tax payer money their way.
  • Shaheen42
    !
    It's not so complex on critical evaluation. America can't do much as long as European economic down-turn is concerned. However the second factor,pension load is manageable and should be sorted out through negotiation with concerned elements for a more workable option.
  • ir0nw0lfe
    !
    If the govt. Had not intervened GM would have gone through bankruptcy procedures and restructured, settling its debt with the unions for a fraction of the cost. This was not about saving an American business. This was about paying off an American union.
  • ir0nw0lfe
    !
    Another failed venture capitalist investment by Obama using OUR money. Here's a thought, too bad there isn't a candidate running for President who was good at this sort of thing. You know, someone with a proven record of making a profit for his investors, someone with a solid business background. Yup, someone like that would make a great candidate for President right now. But he probably couldn't get elected if he didn't slow rap.....
  • Fishbone345
    !
    I didn't ask to invest in that damn company. It was done for me.
    I don't see the government coming to bail out me if I make risky investments. In fact I see them coming to remind me about my failure if anything.
    Screw GM!
    I'm a Ford Man. The only company that didn't take a handout. The only one that kept their damn company in the black.
  • marine1
    !
    had the bailout not happened, the pain and suffering that is going to happen would be over and maybe this mess would be manageable.No one can invest 120% and survive on 85% return.The retiirement and benefit packages WII suffer,watch and see. The same thing NEEDS to happen with ALL goverment. Bring everyone in line with the real people of this country..
  • ir0nw0lfe
    !
    Not true. GM already had a restructuring plan in place and would have filed bankruptcy paying off its debts st a lower cost. The Union would have lost some money and jobs but I have no sympathy since they are what killed GM in the first place. The free market would adjusted GM. All Obama did was delay the inevitable and bankrupt the govt. Instead of just GM.
  • ir0nw0lfe
    !
    Agreed. Ford never took the bailout, made changes, and is doing much better. When they pointed that out in a commercial, the White House threatened Ford so they pulled the ad.
  • LGRepublican
    !
    Dump the stock. We had no business getting into the car business anyway. I know many people who will NEVER buy a Government Motors vehicle because they took the bailout and screwed their investors. That stigma will stick and that bad taste will last for many years.
  • spytheweb
    !
    Think things are bad now, wait until republicans are in power. You'll be wishing for these days. What do you think lead us to this point? 8 years of Bush and Cheney.