My local radio station just played a commercial from GM. Not a dealership but GM themselves. The main mesage was bragging the fact that GM has repaid their gov't loan, in full, 5 years early.
Is this true?
What kind of shell game is this really?
My local radio station just played a commercial from GM. Not a dealership but GM themselves. The main mesage was bragging the fact that GM has repaid their gov't loan, in full, 5 years early.
Is this true?
What kind of shell game is this really?
Some light reading on the matter.
http://www.forbes.com/2010/04/23/general-motors-economy-bailout-opinions-columnists-shikha-dalmia.html
In short, they paid back a loan to the government with government money so now they can get a bigger loan from the government at a lower rate.
They have been playing that here for a week or more. It even made the Local news not just the National.
From my understanding the FCC is checking into the ads for misleading/false information as they did "pay" it off with another loan.
I get Very annoyed every time I see the ads on tv.
Sounds like their normal business practices are still holding strong. Where is Lee Iacocca when you need him?
full page advertisement in The Chicago Tribune too.
I hope they get berkeleying beat down for that. And people laughed at me when i got mad about this in the other thread.... 
Peter, meet Paul. Paul, meet Peter.
I haven't read the Forbes article yet, but yes this is all a shell game. US taxpayers have given GM around $60B and now they pay back $8.1 Billion and say they are even?
That's not counting the artificial boost in sales they got from cash for clunkers. We will never be free of this debt and I seriously doubt GM will ever be anything other than a government owned company that exists to pay retiree helathcare and pensions in the most inefficient way possible.
Speaking of car ads, I saw a Toyota ad last night for the Avalon that had a soundtrack straight out of WW2....why on earth would a Japanese company trying to get back in the good graces of American consumers of transportation appliances think that evoking memories of WW2 was a good approach?
Ahahahaha knew it couldn't be true.
Psh. Who listens to commercial radio anyway? Left of the dial college radio FTW.
Carson wrote: Psh. Who listens to commercial radio anyway? Left of the dial college radio FTW.
Agreed and as stated by Kia Racer, apparently the ad has been running for weeks. Since I really do not read the paper, watch the local news or listen to the local radio the info is just getting to me.
As someone else pointed out, I hope the FCC jams GM for this PR ploy.
Here is the link needed to log your complaint with the FCC.
http://esupport.fcc.gov/complaints.htm
GM and the FCC are both on the same team. Why would the government go after the government for misleading ads? If they were going to do that Congress would be torn between fleeing the country and cutting all funding to the FCC.
The government is allowed to make misleading statments all the time - why just look at how they come up with the unemployment figures or the official inflation measures.
TJ wrote: GM and the FCC are both on the same team. Why would the government go after the government for misleading ads? If they were going to do that Congress would be torn between fleeing the country and cutting all funding to the FCC. The government is allowed to make misleading statments all the time - why just look at how they come up with the unemployment figures or the official inflation measures.
Along the same lines, I think Toyota ought to appeal their fines since the Feds are now competitors of Toyota by owning GM.
The good news is, they're spending $890,000,000 to "keep" 1600 jobs. Man, these berkeleyers are really good at math.
http://www.newsrunner.com/display-article/?eUrl=http%3A%2F%2Fpantagraph.com%2Fbusiness%2Farticle_44926afa-5218-11df-adcd-001cc4c03286.html&eSrc=The+Pantagraph+-+Bloomington+IL&eTitle=GM+to+invest+%24890M+in+engines%2C+keeping+1%2C600+jobs
Haven't heard the radio ads, but that ed whitaker berkeley stick comes on my TV every 10 minutes to tell me what a berkeleying swell guy he is.
The bailout spared GM from going through full insolvency. As a result, the UAW’s astronomical pension commitments survived the transition. Just a few weeks ago, the UAW pulled one of their standard strong arm moves to improve their position even further.
So, we’ve got the tax payers throwing money at GM to keep their workers employed so they can turn around and nail us for more stuff while most of us are flying without the safety nets they’ve already got.
…nice
jrw1621 wrote:Carson wrote: Psh. Who listens to commercial radio anyway? Left of the dial college radio FTW.Agreed and as stated by Kia Racer, apparently the ad has been running for weeks. Since I really do not read the paper, watch the local news or listen to the local radio the info is just getting to me. As someone else pointed out, I hope the FCC jams GM for this PR ploy. Here is the link needed to log your complaint with the FCC. http://esupport.fcc.gov/complaints.htm
It actually should go through the FTC, unless i miss my guess.
RX Reven' wrote: The bailout spared GM from going through full insolvency. As a result, the UAW’s astronomical pension commitments survived the transition. Just a few weeks ago, the UAW pulled one of their standard strong arm moves to improve their position even further. So, we’ve got the tax payers throwing money at GM to keep their workers employed so they can turn around and nail us for more stuff while most of us are flying without the safety nets they’ve already got. …nice
You beat me to it. If we finally get the Govt. out of Govt. Motors we still have to get the Union out. Ford and Chevy dealers say they both have underestimated the backlash of the Union ownership of the company. Ford in a positive manner for Ford and Chevy in the negative.
93celicaGT2 wrote: It actually should go through the FTC, unless i miss my guess.
Ooops yup. FTC should handle it.
carguy123 wrote: ..If we finally get the Govt. out of Govt. Motors we still have to get the Union out. ..
Why do "we" have to get the union out once the government is out? It's partially their company, who are we to say they can be there or not? Sounds like the companies business, not "ours".
Better be careful, anytime someone says something less than shining about GM a few whiners creep out of the woodwork to complain that we are GM bashing.
So, let me say.........
GREAT JOB GM! You have taken money Obama loaned you to pay back SOME of the money Obama loaned you. Sweeeeet....
aircooled wrote:carguy123 wrote: ..If we finally get the Govt. out of Govt. Motors we still have to get the Union out. ..Why do "we" have to get the union out once the government is out? It's partially their company, who are we to say they can be there or not? Sounds like the companies business, not "ours".
GM failed in conducting business for the long-term and their negotiations with unions exacerbated the problems. GM management lacked spine and vision; the unions took advantage.
How about if we get government out of business and let business take care of itself? If business screws up, too bad. If a business is partially employee-owned (unionized or not) let the owners make the decisions and gain or lose accordingly - without tapping into someone else's wallet.
oldsaw wrote:aircooled wrote:GM failed in conducting business for the long-term and their negotiations with unions exacerbated the problems. GM management lacked spine and vision; the unions took advantage. How about if we get government out of business and let business take of itself? If business screws up, too bad. If a business is partially employee-owned (unionized or not) let the owners make the decisions and gain or lose accordingly - without tapping into someone else's wallet.carguy123 wrote: ..If we finally get the Govt. out of Govt. Motors we still have to get the Union out. ..Why do "we" have to get the union out once the government is out? It's partially their company, who are we to say they can be there or not? Sounds like the companies business, not "ours".
Quoted for truth. They should have gone belly up years ago.
"I'm changing my name to Chrysler..........."
poopshovel wrote: The good news is, they're spending $890,000,000 to "keep" 1600 jobs. Man, these berkeleyers are really good at math. http://www.newsrunner.com/display-article/?eUrl=http%3A%2F%2Fpantagraph.com%2Fbusiness%2Farticle_44926afa-5218-11df-adcd-001cc4c03286.html&eSrc=The+Pantagraph+-+Bloomington+IL&eTitle=GM+to+invest+%24890M+in+engines%2C+keeping+1%2C600+jobs Haven't heard the radio ads, but that ed whitaker berkeley stick comes on my TV every 10 minutes to tell me what a berkeleying swell guy he is.
I keep thinking that the only thing missing from that ad is a giant banner in the background that says Mission Accomplished
You'll need to log in to post.
