Government Motors saved to sell to? China!

Oh well, the IPO is going to go to those that want a government run company. You know that our government loves the communist crony capitalism.

Hey, everything is fine. You are in debt for bailing out the company and now they are selling it to China, no big deal everything is cool. Nothing to see here, just walk away.

www.reuters.com...

Oh well, at least the Chinese got to buy the company, that should help the economy don't you think?

Sorry folks, you CANNOT make this crap up.

reply to post by saltheart foamfollower


Well I'll be had. When does this madness ever end? I am getting so sick of big business that was built on the backs of Americans being whored out and our jobs shipped overseas.

Now a Chinese car manufacturer will have a stake in GM. Middle class Americans built these corporations into what they are...the world has to change.

but how much of the stake in GM will be owned in this Chinese Government backed purchase? the US Government owns I believe 43-48% still. The sell off is essentially to help pay back the government and the people for the bailout btw. So I think good intentions are behind this, but the means aren't too attractive to the general US public.

I surely doubt that anyone will see more money in tax refunds and such. I bet we wont even see the effects of this at all.

China,for the past few years has been making inroads,into buying European auto manufactors. The remenants of Rover,MG are owned by the chinese.
This is just another move by the Chinese to completely dominate the manufacturing industry.

reply to post by saltheart foamfollower


yeah its bs but heres a thought that some of us are probably not thinking about:

the main reason gm went under was because of over promises and overcompensation to the unions and as such

the sale goes through the union well get the shaft finally which they should have failed and never been bailed out.

that is of course if china acts like a communist regime and pays the us worker more than its chinese counter
part.

when the federal government bailed out gm i swore that i would never buy another vehicle from them as long as i
live but its getting increasingly harder to not buy chinese.

which irks me i hate the fact that americans are selling out of chinese communism even though it's disguised
as "capitalism" but the us "free market" and "chinese capitalism" have more in common than people realize
both economies are dictated to by both governments same animal just different labels.

One person familiar with the matter said previously that SAIC had initially reached out to GM to explore the prospect of taking a "single-digit" stake in GM. The size of SAIC's prospective investment was not known.

Single-digit. Not great, but nothing to freak out over.

Even just buying a single digit stake will give China a foothold in the U.S. market. And it will allow them some form of influence in the company,( even if it is very small).
Once China has that small stake then they could increase until G.M. becomes a wholly owned subsidy of S.A.I.C

reply to post by HEREFORD 1969


You raise a good point, that is true.

WAKE UP-Rage Against the Machine -- While we were bailing out the "American Auto Industry" Buick was the fastest selling car in China and GM turned a huge profit there! You have been decieved conned and lied to from the top on down and it "AINT GONNA CHANGE" Check the stats then get back to me and correct me if I am wrong! WAKE UP!! How long... not long....cause what you reap is what you sow!!!!!

Originally posted by asperetty
but how much of the stake in GM will be owned in this Chinese Government backed purchase? the US Government owns I believe 43-48% still. The sell off is essentially to help pay back the government and the people for the bailout btw. So I think good intentions are behind this, but the means aren't too attractive to the general US public.

edit on 10-11-2010 by asperetty because: (no reason given)

I was surfing chanels last night and Rachel Maddow's "debunktion junction" piece said " All GM loans have been paid back and GM had record earnings.????Who's full of horse hockey here?

We can't pay China back with Cash so we will just pay them back with assets bought on the cheap. This has been talked about for quite some time. Recent Federal land grabs may just prove to be a way to turn over land to the Chinese for appeasement and collateral for our debt. That has been speculated over the past year or so. There is no way the Chinese will just walk away as The Fed continues to shred the dollar and the remote chance that China will ever get one dollar back. Just speculation of course.

hotair.com...

www.washingtontimes.com...

This sucks out loud. I once worked for General Motors, it was said in the 1950s that what was good for GM was good for the country. I believed that. In 1969 my Dad took me to the Detroit auto show to see the new Camaro, and the first disc brakes on an American car. I was simply astounded at the sight of General Motors, the large chrome letters in the front yard made a statement: We make American cars.

Let the corporation go to China. Those panel molds and jigs still exist, why not take over the machinery and produce a real American car again? Make a car company without government intervention at every turn. The States need to nullify the Federal Law, under State Constitution. We are Americans, We can make things, like cars, and firearms, and ammunition. Who are they? A few men, lawyers all, they sit up there on Capitol Hill and decide what is good for us. What give them power, people? We do! Let's take it away from them, and go back to work! We will call it "Patriot Motors.
We will make a car that is big enough for your family, powerful engine, shiny paint and clean lines, the Great Harley Earl certainly had a eye for automotive lines and designs. Make a car that runs on HHO instead of gasoline. We can defeat TPTB by attrition, if we so choose. Free Howard Freeman, and gather people like him, Ron Paul, Jessie Ventura, and make ourselves a government we can live with, one that is not bought and paid for, and one that doesn't try to force one world government on us, or shove Federal Law down out throats.

Remember, it is not over until the Fat Lady sings. Carry one, Americans.

Originally posted by saltheart foamfollower
Oh well, the IPO is going to go to those that want a government run company. You know that our government loves the communist crony capitalism.

Hey, everything is fine. You are in debt for bailing out the company and now they are selling it to China, no big deal everything is cool. Nothing to see here, just walk away.

www.reuters.com...

Oh well, at least the Chinese got to buy the company, that should help the economy don't you think?

Sorry folks, you CANNOT make this crap up.

its not communist.Real Communism has no money. Thats fascism.

After all that bailing out the people who are woke up saw this a LOOOOOOOOONG time ago. Does not surprise me the traitors in the unions will sell their soul for anything these days. To sell out to the chi-cons!!!!!! THATS ALMOST TREASON!

Originally posted by asperetty
but how much of the stake in GM will be owned in this Chinese Government backed purchase? the US Government owns I believe 43-48% still. The sell off is essentially to help pay back the government and the people for the bailout btw. So I think good intentions are behind this, but the means aren't too attractive to the general US public.

edit on 10-11-2010 by asperetty because: (no reason given)

Did you actually write "The sell off is essentially to help pay back the government and the people "...??????

The PEOPLE?

You really believe that?

You think the government will actually do anything with a dime they get back except invest it into a more bloated political monster that we will have to pay more taxes to run??

Originally posted by saltheart foamfollower
Oh well, the IPO is going to go to those that want a government run company. You know that our government loves the communist crony capitalism.

Hey, everything is fine. You are in debt for bailing out the company and now they are selling it to China, no big deal everything is cool. Nothing to see here, just walk away.

www.reuters.com...

Oh well, at least the Chinese got to buy the company, that should help the economy don't you think?

Sorry folks, you CANNOT make this crap up.

Didn't GM pay back their Bailout with TARP money???

Did they pay that back?

PS - selling your company to make a pretty buck have nothing to do with communism



boo it all

reply to post by saltheart foamfollower


Sold to China, or repossessed by China?

By the way, loooooove your avatar!

reply to post by Janky Red


No, that was a trick, they have not paid back anything.

What it was is this, they paid back a small loan amount with another loan. Sound familiar?

Just like what the Federal reserve does and people that get arrested for check kiting.

reply to post by NuclearPaul


eeeeeeeeeeeeeeeeee or aaaaaaaaaaaaaaaaaaaa

Does not matter, they broke bankruptcy law. They lied, they cheated, the STOLE!