Looks like all those right wing nuts who claim Obama's goal is to nationalize all manufacturing have some egg on their faces today.
http://www.freep.com/article/2009111...pay-U.S.-early
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Looks like all those right wing nuts who claim Obama's goal is to nationalize all manufacturing have some egg on their faces today.
http://www.freep.com/article/2009111...pay-U.S.-early
Then there is this story, they feel things are better because they aren't hemorrhaging cash as fast. They are basing all this good news on a 1.2 billion dollar loss.
"DETROIT — General Motors Co. said Monday it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business."
http://www.google.com/hostednews/ap/...nCl0AD9C0O5RG1
They will eventually be profitable. All of the loan will be paid back and the govt. owned shares will eventually be sold to the public.
Quote:
Originally Posted by Sstashmoo
1.2 billion lost versus Ford up by the same is good news for GM? Paying back with borrowed [[or stolen) money is a good sign?