Comments on: How did GM pay off its bailout loans?

By: Real… » I, Pandora

Real… » I, Pandora — Wed, 15 May 2013 13:55:51 +0000

[...] big and hearty “Take That!” to the Dodge and (Lying) Government Motors [...]

By: If Obama can claim credit for killing bin Laden a year ago, why can’t he take credit for the economy today? [Reader Post] | Flopping Aces

Wed, 09 May 2012 12:04:07 +0000

[...] relative thing. Yes, GM did pay back its government loans, but the money used to do so came from… other government loans. And yes, the company is currently profitable, but that is in no small part because it received $45 [...]

By: Peter’s Paying Paul–Again | Forests of Trees

Peter’s Paying Paul–Again | Forests of Trees — Fri, 09 Mar 2012 22:59:11 +0000

[...] April 2010 Hot Air talked about a YID With LID article detailing how General Motors was using a U.S. Treasury escrow [...]

By: Hey Partisan Bickerers, Turns Out The Bailout Was Definitely (Maybe) Necessary - Automotive News

Tue, 28 Feb 2012 00:02:09 +0000

[...] Today, of course, we know that GM and Chrysler have returned to a semblance of profitability, with a spate of new vehicles (as well as an excuse to kill off Saturn). Chrysler’s 2011 sales ended at $183 million for the year, reversing a loss of $652 million just a year earlier. And General Motors touts how it has paid off $8 billion worth of loans ahead of schedule, a claim that hasn’t come without contention. [...]

By: The Chevy Volt, Update for September 20, 2011: Reprised « Stately McDaniel Manor

Mon, 06 Feb 2012 07:08:14 +0000

[...] has, in recent years, demonstrated some familiarity with political lying –most notably it’s “we paid off our government loans early by taking money from the proceeds of another government loan” ploy–Mr. Cooney does not [...]

By: Government Motors supports Chinese Communist Party propaganda film « Full Metal Patriot

Tue, 17 May 2011 18:21:04 +0000

[...] means that, despite all the trumpeting about supposedly repaying their bailout loans ahead of schedule, the U.S. government still owns GM. Which means our tax dollars are still funding [...]

By: Avoid the General Motors IPO Like the Plague « Fadi El-Eter

Avoid the General Motors IPO Like the Plague « Fadi El-Eter — Mon, 23 Aug 2010 03:12:13 +0000

[...] by the US government. – That has no transparency, and that misleads the public opinion by paying a government loan with another government loan. – That is producing a car 81,000 to make while selling it at around $40,000 (and you can get it [...]

By: GM CEO Ed Whitacre Quits | The Right Sphere - Conservative Blogs, Columnists, News and Opinion

Thu, 12 Aug 2010 15:23:00 +0000

[...] paying off their loans “in full and five years early” which we all new was a load of bunk. Why would Ed Whitacre resign when GM is in the process of issuing an IPO and has had two straight [...]

By: GM post 1st quarter profits- | Holeinthehull

GM post 1st quarter profits- | Holeinthehull — Mon, 17 May 2010 20:43:05 +0000

[...] that this is the truth. This is the same crowd that told us a couple of weeks ago that GM had paid off the Tarp loan. When they were exposed for telling an outright lie, they apologized…. [...]

By: MCGIRV

MCGIRV — Tue, 27 Apr 2010 03:16:07 +0000

Unbelievable!

By: They really do think we’re that stupid « Public Secrets

They really do think we’re that stupid « Public Secrets — Tue, 27 Apr 2010 01:50:50 +0000

[...] Sister Toldjah, Dan Mitchell, Hot Air, Power Line (and [...]

By: Know It All

Know It All — Mon, 26 Apr 2010 17:15:40 +0000

As a GM retiree I welcome the news that they have repaid the money you and I loaned to them. Now I expect they will relieve all of us (I pay taxes just like you do) from paying retiree pensions with our tax money through the PBGC. I expect GM will now pick up the entire cost of GM retiree pensions. After all, their solvent now, aren’t they?

As a side note, last year my son was shopping for his first car. He test drove a number of GM vehicles. Finally, at my suggestion he purchased a wonderful pre-owned vehicle with good looks, good gas mileage and good get up and go. My next car may be an Altima as well.

By: Sir Napsalot

Sir Napsalot — Mon, 26 Apr 2010 15:17:07 +0000

Taxpayers are still on the hook for GM. Nothing at all has changed.

Except for those 'little people' who held GM bonds and are also taxpaying citizendry. Who's going to be their voice of 'fair game'?

By: New For 2011, Government Motors Presents The Obamamobile « Around The Sphere

Mon, 26 Apr 2010 14:42:25 +0000

[...] Barofsky told the Senate Finance Committee the same thing Tuesday, and said the main way for the federal government to earn money out of GM would be through “a liquidation of its ownership interest.” Senator Grassley comments here; Ed Morrissey has more. [...]

By: Inanemergencydial

Inanemergencydial — Mon, 26 Apr 2010 13:47:39 +0000

How does a company that doesn’t turn a profit or liquidate assets pay off loans?

By: Goldy1

Goldy1 — Mon, 26 Apr 2010 04:10:06 +0000

These government hucksters should be working the Midway games at traveling carnies. No wait, that’s where they came from, right?

By: Van Santos - Random thoughts from a random mind » Blog Archive » Let us be clear – GM did not Pay Back all of their loans

Mon, 26 Apr 2010 02:33:51 +0000

[...] What Mr. Whitacre isn’t tell you is that he is lying to you. Well, I guess he wouldn’t say that if he was trying to peddle a line of false information. How exactly did this happen? They are taking one source of TARP funds in order to repay TARP funds they already owe! [...]

By: doomedcanadian.com

doomedcanadian.com — Mon, 26 Apr 2010 01:21:02 +0000

How did GM pay off its bailout loans?…

Did they really think they would get away with this?…

By: joe btfsplk

joe btfsplk — Sun, 25 Apr 2010 20:32:50 +0000

It seems that beating up TOYOTA didn’t work out as well as planned. Plan B. seems to involve lying their way to prosperity. Those Gummint Motors douches sure are sneaky.

By: GM Loan Repayment Scam | The Great Illuminator

GM Loan Repayment Scam | The Great Illuminator — Sun, 25 Apr 2010 19:09:11 +0000

[...] and the reality scoop from Forbes (re-posting the whole article, emphasis mine in [...]

By: The audacity of (treating us like we’re a) dope | America Watches Obama

Sun, 25 Apr 2010 16:38:24 +0000

By: Dhuka

Dhuka — Sat, 24 Apr 2010 18:54:19 +0000

But doesn’t this mean the recession is over?

By: tai-pan

tai-pan — Sat, 24 Apr 2010 16:59:30 +0000

Still Government Motors

By: modnar

modnar — Sat, 24 Apr 2010 16:38:10 +0000

Didn’t expect a reply, but I emailed GM about the new ad saying they’ve repaid the loan and got this back as a reply:

Thank you for contacting General Motors. While we’re disappointed to hear that you feel this way, we understand and ask that you give us some time, and take another look at GM and our products in the future.

We are confident that we will emerge a leaner, stronger company, offering desirable, high-quality vehicles from the Chevy, Cadillac, Buick and GMC brands. The resulting General Motors will be more efficient. Smarter. Faster. More competitive. With a renewed commitment to cutting-edge automotive technologies, including improved fuel efficiency, quality and design.

I invite you to stay up-to-date on our promising new future by visiting GMreinvention.com.

Respectfully submitted,

General Motors

By: Jimbo3

Jimbo3 — Sat, 24 Apr 2010 16:04:58 +0000

I am trying to recall my securities law on this topic; perhaps someone who has more recent exposure can provide better information, but I recall that when a CEO tries to manipulate public perception of the value of a company by false assertions or ommissions of fact, it constitutes a 10(b)(6) violation. If anyone bought GM stock based on these representations, and the stock loses value, someone will be held liable. As far as criminal liabilities go, can you say “Enron?” There does not seem to be an appreciable difference in management conduct. In my opinion.

ObjectionSustained on April 23, 2010 at 11:30 AM

–It’s 10(b)(5) and Rule 10b-5. Material false statements or material omissions are violations. But it looks like the amounts in the escrow account may not have been TARP loans, but instead were some other type of financing. I’m wondering if they weren’t GM funds required to be held in escrow as security for the TARP loans.