Video: If you think GM paid anything back …
posted at 8:26 am on May 1, 2010 by Ed Morrissey
We’ve covered this before, but Reason TV’s Nick Gillespie manages to explain this shell game in almost the same amount of time it took GM CEO Ed Whitacre to play it. Nick makes a pretty good point at the end of this but perhaps applies the warning to the wrong part of the car company. I’d be less worried about the math the engineers use … and a whole lot more about the salespeople.
Blowback
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Nothing more then government sanctioned check kiting for PR purposes.
lowandslow on May 1, 2010 at 8:36 AM
Sort of the same way things are going with the gulf oil spill. In 1989 post Exxon Valdez, Congress changed federal law made significant spills government responsibility, they would bill the company … seems like we have a guilty party defined.
When government takes responsibility for everything, as they were more than happy to do in oil spill events, the problems become immediately apparent. It’s all to protect the people, don’t you know.
GM is obviously lying as anybody who is awake would know. They lost over $2 billion when I last checked.
tarpon on May 1, 2010 at 8:36 AM
The CEO who is on air saying they paid in full is perfectly emblematic of the Obama admin.
rob verdi on May 1, 2010 at 8:37 AM
BTW, headlines comments and all headlines is broke.
lowandslow on May 1, 2010 at 8:37 AM
I’d bet anything Whitacre knew it was a scam and didn’t want to do the commercial but his DC bosses forced him to do it. I’ve been in the car business 33 years and have sat in plenty of ad meetings where everyone knows what you can and can’t say in an ad. Unfortunately, the DC mob has no business experience.
PatMac on May 1, 2010 at 8:37 AM
Where’s my money?
Philly on May 1, 2010 at 8:38 AM
Related satire: New GM Cars Run on Efforts of U.S. Taxpayers
Mervis Winter on May 1, 2010 at 8:40 AM
I guess the old man at GM doesn’t understand this new-fangeled internet contraption.
He grew up during the days of the telegragh … and a “telephone” was two cans and a string.
Back then, the leftist news media told us only what they or the govt wanted us to think.
Today, sir, we have alternative media and now we get the truth.
Tony737 on May 1, 2010 at 8:42 AM
I’d like to see a cowardly journalist ask Obama about this in-full payback.
BJ* on May 1, 2010 at 8:55 AM
Buy Ford…
rich801 on May 1, 2010 at 8:58 AM
Money has become . . .
nothing more than entries in an accounting ledger, nothing more than a promise to pay later. Money is indistinguishable from debt. Money has become debt.
Skandia Recluse on May 1, 2010 at 8:58 AM
GM should have to reshoot it’s payback commercial and have one of those radio-style super-fast voiceovers at the end explaining their bogus accounting. That would make a good SNL sketch if SNL were bold.
BJ* on May 1, 2010 at 8:59 AM
The CEO was appointed by Obama. Was anyone really expecting any truth to emit from that large hole in his face?
Hog Wild on May 1, 2010 at 9:01 AM
He needs to go easy on the hand gestures.
You don’t need to frame each and every word with two hands.
His Christmas present point was good.
NeoKong on May 1, 2010 at 9:07 AM
The sad and scarey thing is the number of koolaid drinking morons that actually believe all of these lies! *sigh*
sicoit on May 1, 2010 at 9:07 AM
What raised my hackles was being told, concerning people who objected to the bailout, that “Frankly, I can respect that.” I am supposed to be honored that he respects me? His opinion is matters to me why?
TREGONSEE on May 1, 2010 at 9:10 AM
Impeach Obama.
connectthedots on May 1, 2010 at 9:11 AM
If National Enquirer gets that video ,Meechlle will do our heavy lifting.
katy the mean old lady on May 1, 2010 at 9:19 AM
One can only hope…..sigh.
sicoit on May 1, 2010 at 9:21 AM
I prefer the “Fletch” explanation:
The bad news is, we’re Underhill.
steveegg on May 1, 2010 at 9:22 AM
There HAS to be vote guarantees, and Union support for the Democrat Party pledged in this deal somewhere!
It’s the Obama Way.
Cybergeezer on May 1, 2010 at 9:26 AM
Hey, it could be a “Clue” game up-date….on the lawn,with a roto-tiller?
katy the mean old lady on May 1, 2010 at 9:27 AM
Heh…heh…;-)
sicoit on May 1, 2010 at 9:29 AM
I was looking at Hillary, but then she went all “stand by your man” on me.
katy the mean old lady on May 1, 2010 at 9:33 AM
Yep. No more GM or Chrysler for me.
Mojave Mark on May 1, 2010 at 9:35 AM
Everything even remotely associated with these Chicago thugs is based on lies and deceptions. You really didn’t expect anything else, did you?
volsense on May 1, 2010 at 9:40 AM
Yeah….I’m waiting to hear Obooboo’s definition of is…kid’s soccer game huh? The hits just keep on comin.
sicoit on May 1, 2010 at 9:40 AM
Typical math for this administration.
tommer74 on May 1, 2010 at 9:40 AM
Odumbass getting caught cheating will only raise his status in the looney land of progressives. The icing on the cake would be the tape showing O smoking a doobie after doing the deed.
txag92 on May 1, 2010 at 9:40 AM
I wish he would have said instead of check out the new line of GMC cars, check out the new changes to the bankruptcy laws…
golfmann on May 1, 2010 at 9:41 AM
Good grief, is it any wonder we are in the shape we are in? I am sure this bit of transparency was never meant to happen.
Cindy Munford on May 1, 2010 at 9:42 AM
Yup, I can hear him now: “was it good for ME like it was for ME”?
sicoit on May 1, 2010 at 9:42 AM
I wish Nick would’ve broke that down and made it less complicated so I could understand it. ;-)
kahall on May 1, 2010 at 10:15 AM
Wow. Beautiful.
Green Muse on May 1, 2010 at 10:44 AM
Nice job, Nick Gillespie.
You want to buy American? We own two American-made vehicles: a Honda Accord (built in Marysville, Ohio) and a Hyundai Santa Fe (built in Montgomery, Alabama). At one point we owned a Chevy Lumina and a Dodge Intrepid. Both were built in Canada.
Mr. D on May 1, 2010 at 10:50 AM
You guys are being too hard on GM. If the Government can fudge the numbers to make health care “appear” paid for in full, why can’t Government Motors use similar slight of hand to achieve similar “paid for” results?
What baffles me is why GM didn’t claim they created or saved all kinds of jobs as well. Oh wait, according to Neil Cavuto, they just did!
Government Motors: your tax dollars at work!
karl9000 on May 1, 2010 at 10:53 AM
The FCC has jurisdiction over false and misleading advertising. I expect them to force GM to issue a retraction and slap them with a big fine, just as soon as they finish taking over the intertubes.
They could also fine GM for showing a boob on TV.
GnuBreed on May 1, 2010 at 11:07 AM
..well, don’t expect him to say “they behaved stupidly” and invite them to a beer summit.
The War Planner on May 1, 2010 at 11:10 AM
..FIFY
The War Planner on May 1, 2010 at 11:12 AM
I love GM cars but believe they should have been allowed to fold. However, this guy should check up on the difference between an escrow account for working capital and a loan.
No MBA/JD here.
IlikedAUH2O on May 1, 2010 at 11:31 AM
Someone should also tell this guy that Hummers may suck gas but they tend not to put their owners in body bags. Or send our trade deficit to the stratosphere.
IlikedAUH2O on May 1, 2010 at 11:35 AM
I couldnt follow what he was saying because I was too busy watching his hands.
Stand still, for Heaven’s sake.
Labamigo on May 1, 2010 at 12:17 PM
O.T. and very late to the dance: I just noticed that HA! has gone uptown since the TownHall infusion of cash. I guess they can now afford a real web designed and no longer have to use those Dymo labels for their header anymore.
The War Planner on May 1, 2010 at 12:18 PM
GM CEO…..YOU LIE!!!!!!!!!!
capejasmine on May 1, 2010 at 12:19 PM
Spot on!
ButterflyDragon on May 1, 2010 at 12:34 PM
It’s fun when scumbags steal your money then lie to you about paying it back! Corporatism sure is hopey-changey! (The frosting on the cake, of course, is that GM cars continue to suck.)
Blacklake on May 1, 2010 at 12:55 PM
The real problem with this is loss of confidence in GM management following the exposure of the dishonesty.
Freddy on May 1, 2010 at 1:12 PM
As I heard him, he referenced the math that safety engineers use. If that is bad math, people could die. I get his point. I don’t get yours.
SKYFOX on May 1, 2010 at 1:43 PM
In essence they took $6.7 billion from an escrow account meant to provide working capital and spent it on a PR campaign.
agmartin on May 1, 2010 at 2:06 PM
I have always bought American made cars and was a fan of GM.
I will now never buy a GM or Chrysler.
TheSitRep on May 1, 2010 at 3:13 PM
Lying is not a vice to liberals.
I’ve seen their twisted reasoning for it too many times now.
They truly cannot ever be trusted.
scotash on May 1, 2010 at 3:45 PM
One liberal lies and the other one swears to it.
Army Brat on May 1, 2010 at 5:48 PM
Not really off topic, but it explains the Detroit failure.
“ISTANBUL (AP) — Tens of thousands of workers marched in cities from Hong Kong to Istanbul Saturday to mark international worker’s day, demanding more jobs, better work conditions and higher wage…”
Unions in theory are by nature instituted to put their members out of work and their company out of business. Like the government their business model is to use other people’s money, which is 100% a failure rate.
Marx was an economic dunce.
lilium on May 1, 2010 at 6:09 PM
Listening to Rush the other day and one of his innumerable commercials was this weenie from GM and his “Paid back” lie.
Both my Irony meter and my Truth meter pegged out while wondering why Rush would air such a blatantly wrong commercial, but hey, I guess sponsors are where you find them.
Jimnospin on May 1, 2010 at 8:30 PM
Nick, Reason, and Hot Air thanks for showing in simple terms the truth.
It is always amazing how the truth can be explained in a minute and a half. But, for any member of administration to explain the truth, as they know it, takes 17 minutes or longer.
MSGTAS on May 2, 2010 at 11:04 AM
yeah. They paid their VISA with their MASTER CARD. Nice.
johnnyU on May 3, 2010 at 9:09 AM