Toyota back, passes GM as world's largest automaker

Jim_Higgins

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May 12, 2012, 10:03:26 AM5/12/12

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Toyota back, passes GM as world's largest automaker
http://tinyurl.com/7dmg3x9

--
"The king of Israel answered, "Tell him: 'One who puts on his armor
should not boast like one who takes it off." 1 Kings 20:11

gos...@gmail.com

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May 12, 2012, 5:28:14 PM5/12/12

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In a report to Congress, the U.S. Treasury has said it expects to lose even more money on bailouts of domestic automakers than previously expected. According to The Detroit News, the Treasury now expects to lose $23.77 billion on the $85 billion bailout package, up from the $23.6 billion loss predicted in fall 2011.
The bailout loans were given to Detroit automakers Chrysler Group and General Motors in 2009, helping the companies stay afloat and avoid bankruptcies while they restructured. Because GM’s stock price has slipped over the last six months, the Treasury would lose a significant amount of money if it were to sell of its shares in the company.
The Treasury reportedly holds 500 million shares in GM, a 26.5-percent stake. In order to break even on the auto loans, the government would need to sell each of those shares for about $53. Currently, The News reports that GM stock is trading for less than $25 — less than half what’s needed for the Treasury to recoup its bailout investment. When GM filed its initial public offering in 2010, each share traded for $33.
The Treasury also expects to lose about $1.3 billion on its bailout of Chrysler Group. Last summer, new owner Fiat paid $625 million to buy out the remaining Chrysler shares held by the U.S. and Canadian governments. However, another $1.3 billion is still owed by the since-dissolved “Old Chrysler” and has been written off as a loss by the Treasury.

Read more: http://wot.motortrend.com/new-report-says-treasury-will-lose-23-77-billion-on-bailouts-of-chrysler-gm-163223.html#ixzz1uh2FhWTa

Canuck57

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May 15, 2012, 5:32:24 PM5/15/12

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On 12/05/2012 8:03 AM, Jim_Higgins wrote:
> Toyota back, passes GM as world's largest automaker
> http://tinyurl.com/7dmg3x9

And they make money doing it without the greed of other peoples money.

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Liberal-socialism is a great idea so long as the credit is good and
other people pay for it. When the credit runs out and those that pay
for it leave, they can all share having nothing but debt and discontentment.

Canuck57

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May 15, 2012, 5:35:29 PM5/15/12

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GMAC pillaging extra and a few more things not accounted for like Delco,
environmental cleanup etc.

Tom

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May 15, 2012, 5:51:13 PM5/15/12

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On 5/15/12 5:32 PM, Canuck57 wrote:
> On 12/05/2012 8:03 AM, Jim_Higgins wrote:
>> Toyota back, passes GM as world's largest automaker
>> http://tinyurl.com/7dmg3x9
>
>
> And they make money doing it without the greed of other peoples money.
>
>

how much money did the states put up in tax relief to build the plants,
how much money did they borrow from the govt of japan at low interest to
build those pants, How about the tax rebates for their hybrids, If you
think they or any other company in the us didnt get taxpayer money you
need help.